Business
Ray J Invests $5M to Launch Cannabis Firm
[dropcap class=”kp-dropcap”]S[/dropcap]inger and reality television personality Ray J announced that he is investing at least $5,000,000 into a cannabis venture that will offer cannabis products and specialize in marketing and branding.
William Ray LA will sell pre-rolled joints called Ray Jays, as well as cannabis sold in glass jars. The cannabis products will come in sativa or indica varieties. Ray’s manager David Weintraub told TMZ that the company’s focus will be on non-traditional marketing strategies in media, music and entertainment.
“They said, ‘Welcome Ray J. Welcome to the cannabis business,’” Ray J said in a video clip while panning out to show a large cultivation operation. “I said that I’m so honored and happy to be here.” Given the size of Ray J’s investment, he’s serious about his foray into cannabis marketing.
William Ray LA will not only specialize in cultivation, but offer branding and marketing to other cannabis businesses that wish to expand.“Been working on deal for a year now!!” Ray J posted on Instagram on May 28. “Stayed up for days at a time getting work done! That’s why I look hella tired all the time! But it’s about to finally be official this week!! Jus wanna say thank you to my team in Kentucky, Arizona, California and Las Vegas! We’ve work hard to get to this point! Now let’s go get these MMMMs!”
Ray J is Snoop Dogg’s first cousin and brother of the multiplatinum artist Brandy. Ray J became successful as an R&B and hip-hop artist and starred on VH1’s Love & Hip Hop: Hollywood. Judging by the video footages of Ray J’s cannabis cultivation operation, he’s serious about entering the cannabis market.
The news follows several other hip-hop artists to launch their own line of cannabis including Post Malone and the Notorious B.I.G.’s son C.J. Wallace. Ray J made several other investments in the past including a rideshare company.
