Jay-Z & Roc Nation Join Blackstone to Acquire Majority Stake in Collectibles Company • ThePowerBloc
Billionaire Hov and his company will be a huge investor in an enterprise valued at more than $500 million.
Shawn Carter, Jay-Z, Billionaire H-to-the-O-V—however you call the Brooklyn-born soon-to-be Rock Hall of Famer—make sure you don’t call collect. In a news brief by Markets Insider, Jay’s Roc Nation has partnered up with Blackstone to acquire a majority stake in the Certified Collectibles Group. The transaction values the company at more than $500 million.
The full list of investors in addition to Jay-Z and Roc Nation are Michael Rubin, founder and executive chairman of Fanatics, NBA player Andre Iguodala, Daryl Morey, President of Basketball Operations for the Philadelphia 76ers, and a few others. The Certified Collectibles Group (CCG) offers authentication services for various collectibles items including comic books, banknotes, magazines, concert posters, stamps, trading cards, sports cards and estate items.
With more than 62 million collectibles in CCG estimated coffers, a combined fair market value estimates these items as approaching a worth of $50 billion.