Zack O'Malley Greenburg's Blog, page 117

Why Jay-Z's Nets Investment Makes Sense, Fines Included

Jay-Z's Nets deal is fine.

On Friday afternoon, ESPN reported that the NBA has decided to fine Jay-Z and the New Jersey Nets $50,000 for the rapper and part-owner's appearance in the Kentucky locker room shortly after the Wildcats clinched a spot in the NCAA tournament's Final Four.

Even if Jay-Z has to pay that fine out of his own pocket, though, his investment in the Nets has been a worthwhile one.

That may come as a surprise to some, given the Nets' recent struggles on the court and the...

Jay-Z, Beyonce And April Fools' Day

No joke: The music world's First Couple.

The internet doesn't have a sense of humor, as it turns out. Either that or it renders its users unusually gullible and/or shortens their attention spans to roughly one paragraph. Allow me to explain.

Last Thursday at approximately 11:59pm, I sat at my home computer waiting for the clock to usher in Friday, April 1st. Minutes later I checked every clock in my immediate vicinity: cell phone, kitchen wall, coffee machine, cat feeder; all confirmed that it ...

Jay-Z And Beyonce To Buy EMI?

"Can we use this as collateral?"

According to sources close to the matter, Shawn "Jay-Z" Carter and Beyonce Knowles have reached an agreement to purchase record company EMI for $2.5 billion. The newly-formed musical conglomerate will be called Jay-B'EMI Recordings.

Citi, which took control of embattled EMI earlier this year, is said to have accepted the couple's bid and rejected others from the likes of Edgar Bronfman's Warner Music Group, Steve Jobs' Apple, and railway tycoon Sir Topham...

The (Grateful) Dead's Life-Altering Medical Device

Billy Procida, Jeff Chimenti, A.J. Santella show off their unlikely invention.

There may not be three people in the world less likely to invent and launch a groundbreaking medical device than Jeff Chimenti, Billy Procida and A.J. Santella. Chimenti's day job is playing keyboard alongside former Grateful Dead stars Bob Weir and Phil Lesh for post-Garcia offshoot bands including The Dead and Ratdog. Procida is a real estate developer who befriended Chimenti ten years ago and has since...

Dissecting Jay-Z's Rise As A Businessman (Video)

My biography of Jay-Z, Empire State of Mind, has been out for a week now. I've given quotes to media outlets large and small, sat for countless radio interviews, even braved a hail storm to make an appearance on live television.

But much more daunting than any of this, I think, was the prospect of being interviewed about the book by my friend and colleague Michael Noer, a Forbes editor who once surprised a fellow writer by sending him to Romania on five hours' notice to stress-test laptop...

Russell Simmons Defends the Rush Card

Uncle Rush Card.

Russell Simmons wasn't eligible for our recently-published "Forbes Five" list because he's not a performer (full coverage of hip-hop's wealthiest artists here), but there's no doubt that he's one of America's most accomplished entrepreneurs. His achievements include co-founding Def Jam Recordings and founding Phat Farm clothing.

I sat down with Simmons to discuss his new book and his latest venture: UniRush, a financial services company that offers the Rush Card. This prepaid d...

St. Patrick's Day: A Pot of Gold for Irish Bands

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Gaelic Storm's latest album should be a St. Patrick's Day favorite this year.

Outside the House of Blues in Houston, it's a sleepy winter's evening. Inside it feels like a scene from Titanic, somewhere in the ship's bagpipe-infused steerage section, as Celtic rock band Gaelic Storm pounds out the song...

Jay-Z's Business Commandments

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Jay-Z means business.

In the late 1990s Shawn "Jay-Z" Carter grew fond of an Italian knitwear designer by the name of Iceberg. When he started singing the brand's praises in verse, sales skyrocketed. Sensing an opportunity, he and erstwhile business partner Damon...

Why Diddy Will Be Hip-Hop's First Billionaire

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Ciroc Around the Clock: Diddy's vodka interests could help him become hip-hop's first billionaire.

Shortly after the release of Forbes' first Hip-Hop Cash Kings package in 2007, the three top earners–Jay-Z, Diddy and 50 Cent–celebrated their financial victory over mortal rappers by recording a ...

Why I Wrote an Unauthorized Biography of Jay-Z

Empire State of Mind: How Jay-Z Went From Street Corner to Corner Office (Penguin/Portfolio, 2011)

It's been four months since I put the finishing touches on Empire State of Mind: How Jay-Z Went From Street Corner to Corner Office (due out March 17, 2011). But weeks before I clattered out a single sentence of a manuscript, I got a firsthand taste of Jay-Z's business philosophy when I met up with a man named John Meneilly.

Though Meneilly is essentially a manager, Jay-Z refers to him as his...