How ironic that Jay Z once said “I’m not a businessman/ I’m a business, man.” How right he was.
Rap mogul Jay Z, 42, is a former crack dealing rapper turned businessman who doesn’t have a clue what it takes to run a business.
The majority of Jay Z’s business holdings were acquired to boost his image and increase his visibility in the corporate world. That explains why his businesses often fail.
Take for instance his 40/40 sports bar in New York city. Jay Z threw a splashy Grand reopening bash for the restaurant/lounge earlier this week. But it was more of a show to make himself the center of attention. It’s hard to say who is the biggest fame whore: Jay Z or his wife Beyonce.
Photos of Jay Z schmoozing with billionaire Warren Buffet were splashed all over the media on Wednesday. But within 48 hours, Club 40/40 was shut down by the city’s health department for violating a number of health code violations.
Apparently, 40/40 wasn’t expecting a visit from the health inspectors so soon.
If Jay was really an astute businessman he would have made sure his establishment was prepared to open to the public, rather than using the reopening as a vehicle to flaunt his wealthy friends to the media.
I’m embarrassed for him.
