The deal between Jay-Z’s Tidal and Jack Dorsey’s Square officially closed today (April 30).
It was first discussed in March that the deal was happening but it is now signed, sealed and delivered.
Jay-Z and Desiree Perez will stay on board to help run Tidal. Power Moves!
It’s too easy for Jay-Z as a business man who continues to rise as a Black Hip Hop mogul.
“Jay-Z’s 6-year flip of Tidal’s streaming service is complete — he just closed the deal to sell the majority of the company to Square for $350 million … a pretty good return on his initial investment. Square, the financial services company owned by Jay’s pal, Jack Dorsey, is now firmly in the music streaming biz,” per TMZ.
Back in 2015, Jay-Z had launched Tidal for $56 million with several music artists.
This only continues to add to Jay-Z’s list of wealth because he’s on a different level.