Superstar rapper Jay-Z has launched a new $10 million cannabis venture to invest in Black-owned firms, in an effort to help a community that historically face more harsh punishment for marijuana use. Shawn “Jay-Z” Carter, already a cannabis entrepreneur, will serve as “chief visionary officer” of The Parent Company (TPCO), which aims “to help rectify the wrongs of cannabis prohibition.” “We are focused on diversifying both the business leadership and workforce of the cannabis,” the company said in a recent statement. The fund launches at a time when US states have legalised marijuana use, and more cannabidiol products have become ubiquitous, sparking an investment frenzy. Afp
