Jay-Z’s Company Announces Investment in Fintech Platform Robinhood

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Shawn “Jay-Z” Carter’s 4:44 is a revolutionary album packed with messages about the power of financial freedom. Since its release in June, the hip-hop mogul has continued to demonstrate his business savvy with promising new investments and endeavors with the latest being in the popular financial platform Robinhood.

Back in March, Jay-Z’s entertainment management company, Roc Nation, launched Arrive as a subsidiary venture fund that provides startups with resources and capital. Now, nearly a year after its launch, Arrive announced a major investment in Robinhood, a fintech company that educates and empowers users to track and invest in stocks and ETFs. The investment service will also grant its 3 million users with the opportunity to make commission-free investments in cryptocurrencies, starting later this month.

In a statement, Arrive president Neil Sirni said he believes in the vision of the $1.3 billion company created by its founders, financial experts Vlad Tenev and Baiju Bhatt. “We believe in Baiju and Vlad’s mission to make the financial markets more accessible and cost-efficient for customers of all sizes,” said Sirni. “Robinhood will have our support as they execute the long-term vision of their company.”

Arrive’s investment will help Robinhood continue to grow and democratize the general public’s access to wealth.  In addition to the investment through Arrive subsidiary, Robinhood has received large backings from fellow hip-hop icons Snoop Dogg and Nasir “Nas” Jones.

Last year, T: The New York Times Style Magazine released a revealing exposé in December where Jay-Z opened up about money and politics. Despite acquiring a net worth of about $810 million, the rap icon said his wealth has not swayed his left-leaning politics.

“I believe in people. I want what’s best for people. I love people. You know, so I don’t have that sort of thing, like, I want to vote Republican just to save more money,” said Jay-Z. “That’s not the endgame. It’s not about who got more money and who got more houses. Yes, you know, you’ve earned it, buy what you want.” He added,  “don’t forget what’s important. Without people, being rich would be very boring.”

The post Jay-Z’s Company Announces Investment in Fintech Platform Robinhood appeared first on Black Enterprise.

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