(AllHipHop News) Rap star/mogul Jay Z and a Saudi royal family to invest in a new company called JetSmarter.
According to the New York Post,Jay Z was part of a $105 million financing round for the new app, which allows users to book jets on demand.
The company currently has over 7,000 members, who pay $15,000 a month for an Uber like service to book private jets.
It's the second time this year Jay-Z has bet his money on a jet chartering service.
According to The Post, he also invested in BlackJets, which raised about $3.1 million from other celebrities including Ashton Kutcher, and Uber co-founder Garrett Camp, although that company failed.
Jay and his Saudi Arabian partners managed to raise $105 million for JetSmarter, bringing the total valuation of JetSmarter is about $1.5 billion.