Jay-Z has told us time and time again he is a business, man. He’s been flipping all his life and now he’s constantly flipping the money into more money. This time last year, he invested in Rihanna’s Fenty brand through his investment fund, Marcy Ventures. During that time he also invested in Partake, a vegan cookie company.
Now, according to TMZ, the rapper is following in his wifey Beyoncé’s footsteps by joining the fitness space. Just last week, Queen Bey announced that she would be teaming up with fitness platform Peloton for a new multi-year partnership. The exclusive deal is geared towards HBCU’s and grants students a 2-year digital membership with free access to the Peloton app and a wide variety of fitness classes that include indoor cycling, running, strength, Bootcamp fitness, yoga, and meditation.
Seems like Hov is taking a different route by investing in the fitness brand CLMBR’s new line of workout equipment. Here’s the scoop from TMZ.
The entertainment mogul is pumping some of his billion-dollar fortune into CLMBR, which is about to launch its 2 flagship products … a pair of vertical climbing machines.
Novak Djokovic, the top men’s tennis player in the world, is also investing. Jay and Bey’s longtime fitness consultant, Marco Borges, is on board too, plus YouTube co-founder Chad Hurley.
CLMBR sounds a lot like Peloton, only instead of riding a bike it simulates vertical climbing. It’s supposed to be good for the back, and CLMBR’s machines are the first featuring touch displays and on-demand classes with instructors.
When it comes to fitness, the Carter household has all bases covered to make sure their workouts and portfolio are diverse as can be. Jay is once again showing us the blueprint to investing: get in fundraising early, run up the value, and then sell (or hold).