Juicy J’s Investment In Core Hydration Nets $525 Million Acquisition
*Cues* Rihanna's "Pour It Up."
The power of investment in the world of hip-hop has proven to be a lucrative next-step for today’s rappers. For Juicy J, he saw the long-term benefit of investing in a certain beverage company that has now reached a point of pride for the Memphis native.
Taking to Instagram late November, the Academy Award winner amplified the news that CORE Nutrition, which he invested in three years ago, was acquired by Keurig Dr. Pepper (KDP) for $525 million. “The best investment I made in my life,” the Three 6 Mafia member wrote.
The acquisition has been in the works since September 2018. In a statement published by BEVNET, CORE’s founder Lance Collins thinks the company will continue to thrive under KDP’s wing.
“KDP has been an outstanding partner for CORE and I am certain that, under its ownership, CORE will continue to see tremendous long-term success," Collins said. "I am a strong supporter of the KDP strategy and business model and am looking forward to being a shareholder in the company.”
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Chamillionaire, another famed investor that first stepped onto the scene through rap, remains another lucrative investor in start-up companies. The “Ridin’ Dirty” artist previously took on a new title of angel investor and enacted monetary interest in Lyft in the ride-hailing outlet’s early days.
In an interview with Axios, Chamillionaire talked about the two paths that people in his community feel they can only pursue when there’s another route to take in order to make long-term money. “To us, growing up, you got two options: you gonna be a musician or a basketball player…The diversity thing is very important to me,” he said. “I don’t think people understand the value of diversity.”