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Beyonce’s dad and former supervisor, Matthew Knowles, has simply introduced a brand new enterprise enterprise that may propel him into the authorized cannabis trade. With the transfer, Knowles is now the most recent excessive profile determine to pivot into the trade.

Apparently—and apparently by pure coincidence—information of Knowles’ entry into cannabis comes on the heels of the announcement that his son-in-law, Jay-Z, has additionally entered a partnership with a number one marijuana firm.

Matthew Knowles Joins Bangi Inc.

In response to a report from the New York Put up’s Web page Six, Knowles lately grew to become chief advertising officer for Bangi, Inc.

The corporate focuses on the true property facet of the trade. Particularly, it leases area to cannabis growers and dispensaries.

In response to Knowles, his previous expertise as a music supervisor might be a key asset. Particularly, he sees himself as knowledgeable with an enormous community who has efficiently put himself on the reducing fringe of vital cultural developments.

“I’m a advertising man,” he instructed Web page Six. “I prefer to suppose outdoors of the field. I prefer to be on the start of a development and never on the finish of it.” He additionally stated that he might be “leveraging my intensive community” in his work with Bangi.

As for his relationship with cannabis, Knowles stated he does eat marijuana for medical functions. However he additionally stated that’s not essentially why he selected to enter the cannabis area.

Actually, Bangi doesn’t truly deal with or cope with the plant. As an alternative, the corporate buys actual property belongings after which leases them to numerous marijuana corporations.

“We’re shopping for land,” Knowles defined. “We’ll lease it again to the growers, the dispensaries, the extraction corporations.”

On this means, Bangi is without doubt one of the quite a few corporations that service the authorized marijuana trade with out ever touching any precise product. Together with actual property, different non-weed industries which can be tangentially associated to authorized marijuana embrace issues like monetary companies, safety, media, farming and agricultural companies, and extra.

Excessive Profile Names Shifting Into the Marijuana Trade

Knowles, who first made his title as a music supervisor for such high-profile acts as Future’s Little one and his daughters Beyonce and Solange, is the most recent instance of well-known individuals coming into the cannabis area.

Earlier this month, Knowles’ son-in-law and rap mogul Jay-Z introduced an analogous transfer. Particularly, Jay-Z revealed that he’ll develop into chief model strategist for cannabis firm Caliva.

On this function, Jay-Z will spearhead initiatives to construct Caliva’s model. And certainly one of his greatest initiatives will reportedly be to leverage his place to advance social fairness within the trade. Particularly, he might be creating packages to assist previously incarcerated people achieve entry to the marijuana trade.

Whereas Jay-Z and Knowles each introduced their entry into the trade in the identical month, it seems that they didn’t plan it that means. Actually, Knowles instructed Web page Six he didn’t even learn about Jay-Z’s partnership with Caliva.

“I came upon the way in which you came upon,” Knowles stated. ” ‘How ironic.’ I referred to as my individuals ‘Rattling, I want mine would have come out first.’ The identical week is cool. Neither certainly one of us knew what the opposite was doing.”

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