The World of Hip-Hop has evolved since it's Infancy from a fad that started in The Park's of NY to the Gilts and glamor of Rodeo drive in LA into a multi billion dollar industry. It has also evolved into a platform where artists can become a brand and explore Business ventures such as Clothing,Sports Drinks, Vodka and Headphones. For people such as Jay-z and P.Diddy Business affairs outside of music have been their most lucrative by far. Let's take a look back at the top 5 business ventures in Hip-Hop history.
5. Jay-Z Signs Reebok Deal in 2003
In the year of 2003 Jay-Z made history becoming the 1st ever non-athlete to have an endorsement deal with an Athletic Sneaker Company when he signed with Reebok and released the S.Carter's. The Shoe was a fashion statement when Released in 2004 and was selling out in stores all across the country, It was the Fastest Selling Shoe in Reebok History. Although the specifics of Jay-Z's contract were never released this is here because of what it did for the business of Rappers looking to expand themselves as far as Branding is concerned. It was a Pioneering Deal that Paved the way for people like Lupe Fiasco, Rick Ross and Swizz Beatz to have they're own signature Sneaker.
4. 50 Cent Buys part of Glacieau company and Releases his own flavor of Vitamin Water
When looking to Invest in a beverage 50 Cent was looking to tap into an untapped market at that time. Soda's were plenty, Gatorade and Powerade were cornering the Sports drink market. In looking into an alternative beverage 50 Cent invested into Glacieau to become a majority owner of Vitamin water. Fifty even put out his own flavor of the beverage titled “Formula 50” which sold pretty well. When the company started to increase profit and the demand got higher fifty cashed in on a buyout from the Coca-Cola Company which was approximately 4.1 Billion dollars, the rapper owning 10% scored a crisp 100 million Dollars on his investment. Not only did his investment corner and untapped market but it is arguably the smartest investment of his career, and he is a guy with pretty well diversified portfolio.
3. Diddy Signs to endorse Ciroc Vodka
In 2007 P.Diddy signed off on a deal that would make him an official spokesmen and endorser of Ciroc. Since then Brand has increases it's sales in the USA by 131% and has made the Brand a household name and gold standard of vodka in a matter of 6 years. TV Ad's over the yes have displayed Diddy as a central figure for the brand and he has played a key role not only for the Branding of Ciroc but for the visibility globally. Not only has he been the face for the product but Didy has also brought in Hip Hop figures like Rick Ross to further increase the Visibility for a brand that just continues to grow year after year. Diddy has collected a nice 100 million Dollars and still counting.
2. Jay-Z Sells Rocawear
Sean Carter better known as Jay-Z is a mogul who has his hands in a numerous amount of business ventures but none bigger then what he had with his clothing line Rocawear. In 2007 he sold the clothing line for 204 Million dollars which is ridiculous and the fact that it's somethin g he started himself and sold for that amount has him this high up on the list.
1. Dr.Dre Sells half of Beats Headphones stake to HTC
When Dr.Dre released his brand of studio headphones named “beats” it was revolutionary on so many levels Not only did it tap into and monopolize an untapped market but made a huge impact Culturally or Financially. As someone who is in the age Demographic of the products top consumers not only can I tell you that the item flies off the shelf but sells to the point where I get sick of looking at them. In other words Dr.Dre's are popular among kids so it only makes sense that Dre make a Profit, well thats what he did in 2011 when he sold 50% of the company to HTC for 310 Million Dollars which made beats a huge success and the #1 best business venture in Hip-Hop history.