American celebrities invest in the cannabis industry

Following the lead of other celebrities in the United States, the rapper Jay-Z launched his cannabis brand called Monogram. The brand markets itself as premium cannabis by offering items ranging from $40 to $70. The products are presented as precious stones in a jewelry store with a black background, lighting and a very minimalistic design. 

Monogram invites other influencers to promote their own brand of products. Rumors whisper that the singer Alicia Keys could be one of them. 

The Parent Company (TPCO), which owns the Monogram brand and of which Jay-Z is the “Chief Visionary Officer”, is the leader of the Californian market. The company generates no less than 185 million in turnover. Among its investors, the cannabis company has another music giant: the singer Rihanna.

Former footballer David Beckham has notably invested in Cellular Goods through his London-based company DB Ventures, which specializes in hemp-based skin care. A good investment when you consider that the stock jumped 310% on the day it went public.

American TV host, Martha Stewart invested in a CBD animal feed line with the Canadian producer Canopy Growth.

The cannabis market is in fact very promising. According to a study carried out by New Frontier Data, it is expected to grow by 21% per year in the United States over the next four years. “It is estimated that the global cannabis market weighs 200 billion dollars, of which 25 to 30 billion are sold in the legal sphere. This last figure will reach 65 billion by 2025”, said Mitch Baruchowitz, managing partner of the cannabis private equity fund.

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