JAY-Z knows how to avoid a business disaster. The rapper and mogul was once affiliated with Monogram but stepped away from the partnership when he noticed the company was hemorrhaging cash.
According to TMZ, Hov stepped away from the brand years ago, which proved a decent decision, seeing they have blown through $575 million in cash.
An insider stated, “JAY-Z stepped away years ago and it just went up in a mess.” The brand reportedly went to another owner in Dec. 2022.
One cannabis expert noted Hov’s The Parent Company noticed the brand had high campaign cost and the $50 price for a pre-roll was too high in the market.
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