In the past two weeks, JAY-Z has sold majority stakes in Tidal and his Armand De Brignac Champagne Brand.
50 percent of Armand went to French luxury conglomerate LVMH for an undisclosed amount and "a significant majority" of Tidal was bought by rich (white) man and Twitter boss Jack Dorsey for cash and stock in Dorsey less famous company Square totaling $297 million
DJ Akademiks is smelling something fishy in the way JAY-Z promoted his former businesses as "Black-owned" but then sold them to people who were not Black at all.
"JAY-Z bought a company. He said it was for Black creators. He said people shouldn't support Apple and Spotify because they are white owned and he wanted to do something for the culture." Ak explained and then added that when Hov bought Tidal he didn't change the fact that all of the executives there were white.
"The Black-owned Tidal is now owned by Jack Dorsey, the white man," Ak continued. "Again, JAY-Z is the classic bait and switch person. That's the only thing I don't like about the way he does things ... He's like 'hey, I don't know why you don't f*ck with me, I'm doing it for Black people. But he's not doing it for Black people, he's doing it for himself."
Ak then broke down how Hov said he got into the champagne business because Black people weren't really welcomed by the Cristals of the world but then sold his business to the very white people that made the champagne industry exclusionary.