Jay-Z didn’t want people knowing what % of the Nets he owned
Jay-Z was rumored to be upset when the New York Times did a great piece on Jay talking about how successful he is as a businessman and how well he’s capitalized off his $1million investment in the Nets. The article pointed out that Jay’s investment gives him less than 1% ownership in the team which translates to he couldn’t “drop a player from the team” if he wanted to. Actually Jay could be dropped quicker and easier than Kris.
David Halbfinger, the reporter for the story, talked about Jay and the piece
“I wasn’t like, ‘Hey, I’d really like to ask Jay-Z exactly what his partnership stake is and while you are at it can you tell me his address and phone number?’ I would argue with you on the notion of whether it undercuts his right to brag. In a way, you could brag that you had a larger piece of the Nets or you could brag that you’ve turned so much less of a piece of the Nets into so much more in perception. The judo involved in image-making and promotion and perception is reality that he has achieved with such a little percentage is something more to brag about than just putting on a larger chunk of change or having a larger percentage.”
I guess Jay didn’t want people knowing he owned so little because most of his fans think he’s more than just a popular face and voice of the franchise but a board meeting owner that has an equal vote to Mikhail Prokhorov’s $300 million investment. He doesn’t, but his 1% investment is more than most of us have ever made and he’s sitting on top of the world with a wife hotter than 99% of the women in the world.
source: Hip Hop Wired