Rihanna, Nicki Minaj Among TIDAL Partners To Get $8.91 Million Payout From Jay-Z’s Tidal Deal
Rihanna, Nicki Minaj Among TIDAL Partners Get $8.91 Million Payout From Jay-Z’s Tidal Deal! Jay-Z’s recent phenomenal sell-off of Tidal to Jack Dorsey’s Square, Inc. saw the hyphenated rapper take him $297 million. The deal in addition to an earlier Moët Hennessy deal saw Jay-Z’s net worth boosted by a whopping 40%. The Tidal deal sparked a conversation about his partners –with their stake having obviously increased with the sale.
Among those who bought-in when HOV acquired Tidal in 2015 include his wife Beyonce, Rihanna, Kanye West, Usher, Nicki Minaj, J.Cole, Alicia Keys, Daft Punk, Chris Martin (Cold Play), Calvin Harris, Damian Marley, Deadmau5, Madonna, Jack White, Win Butler & Regine Chassagne (Arcade Fire), and Jason Aldean. Variety recently reported giving a breakdown of how much each of the partners will walk away with in the latest Tidal deal.
According to the outlet, Jay-Z’s partners were “gifted 3% in equity in Tidal,” and it’s estimated that each artist or pair will receive approximately $8.91 million. Though Jay-Z’s latest move has been heavily criticized from some quarters, but no matter what people think about the Rap mogul’s business decisions, they’ve proved to be lucrative as far as maintaining his billion-dollar empire.
“Tidal started with the idea of honoring artists by being artist-owned and led, focused on an uncompromised experience of the art,” Jack Dorsey – Twitter and Square CEO recently tweeted. “It’s refreshing and right. The vision only grows stronger as it’s matched with more powerful tools for artists, inclusive of new ways of getting paid.”
It remains unclear as to whether Square will still promote and continue to market Tidal as Black-owned for black artistes, even though it so appears that Dorsey announced the platform will stay true to its sole purpose of artists getting the most out of their music streaming.
