According to TMZ reports, on Friday, April 30, Jay-Z sold his digital streaming platform Tidal to Jack Dorsey, CEO of Square and Twitter.
Jay-Z made a profit of about $350 million. In 2015, turning the streaming platform Tidal, which was purchased for about $56 million, to $350 million in six years. Jay-z said, “Jack is one of the greatest minds of our times, and our many discussions about TIDAL’s endless possibilities have made me even more inspired about its future,” JAY-Z tweeted on March 4. “This shared vision makes me even more excited to join the Square board. This partnership will be a game-changer for many. I look forward to all this new chapter has to offer!”
Square signed an 80 percent stake in Tidal and a license agreement with major record companies by buying Tidal’s shares for about $350 million. Jay-Z is making a lot of money this year. He sold half of his Spade Ace Champagne to LVMH and showed his growth as a businessman by trading the aforementioned Tidal with Square.