Hip-Hop Rumors: Hold Up - Jay-Z Only Owns Less Than 1 Percent Of The Brooklyn Nets?
Although Jay-Z has influenced the Brooklyn Nets on everything from the team's logo to the uniforms, and even on what music to play in the arena, according to a new article in the New York Times, Jigga's only owns less than one percent of the team. The actual amount of his percentage is one fifteenth of one percent. So how much is this in dollars and cents? The team itself is worth $300 million, so what's one fifteenth of one percent? Well, one percent of $300 million is $3 million, so you get the picture...it's not really that much when you figure Jay-Z is on the cusp of being a Billionaire. But does it really matter? Jay-Z has a remarkable amount of pull and control of the team.
UPDATE: THANKS TO M-11 FOR DOING THE MATH FOR US. JAY-Z'S FULL STAKE IN THE TEAM IS $200,000.
So with this new revelation, do you think Jay-Z should stop saying that he "owns the Nets" in his music, since he definitely doesn't? You can read the full New York Times article here.
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