TeeRoy's 2 Cents:
- This is the second big move Jay-Z has made this year. Last month he sold off half his stake in Ace of Spades.
- Nobody does this mogul stuff quite like Mr. Carter.
Jay-Z’s Tidal has sold off a majority stake to Square, the mobile payments company run by Twitter co-founder Jack Dorsey.
The deal is valued at just shy of $300 million, plus a seat on the board of Square for Jay-Z. In addition, the superstar artists who had equity from the app’s launch —Beyonce, Madonna and Rihanna will all retain their stakes and become the second-largest shareholders. (Wall Street Journal)