Ray J Inks $1 Million Deal With Crowdfunding Cannabis Company: Report
The public often pokes fun at reality stars because many don't seem to have much going on outside of airing their dirty laundry for the cameras, but Ray J has been making power moves. The entrepreneur has secured various multi-million dollar deals and under everyone's noses has become a formidable hip hop mogul.
We've previously reported that Ray J has taken a huge chunk of change—$5 million, to be exact—and invested it into his own cannabis company. The weed market can be a lucrative one and many celebrities are getting involved with hopes of making hefty profits. According to TMZ, not only is Ray growing his own start-up, but he's also become the Chief Strategic Media Officer for a company called Fundanna. Their website describes them as the "The 1st Regulation Crowdfunding platform for cannabis businesses." Think Kickstarter for weed.
TMZ reports that Ray has inked a deal where he receives $1 million per year and, in turn, he stars in infomercials urging people to invest into weed companies. With Snoop Dogg as a first cousin, Ray's connections are endless.
Aside from getting himself involved in all things green, Ray recently announced that he's embarking on the TBTour. Dates have yet to be announced, but soon he'll be hitting the road with Immature, J. Holiday, Day 26, and B5.