U.S. Markets closed

Jay Z Says He'll Be A Good Sports Agent Because He Was A Drug Dealer

Leah Goldman
jay z beyonce brooklyn nets game

REUTERS/Ray Stubblebine

Jay Z is on the cover of Vanity Fair this month and the issue features a big profile of the rapper/sports agent.

Jay Z, who sold his share of the Brooklyn Nets so he could start a sports agency, explains in the feature why he thinks he'll be a great agent.

He told the author of the VF piece Lisa Robinson:

“I know about budgets. I was a drug dealer. To be in a drug deal, you need to know what you can spend, what you need to re-up. Or if you want to start some sort of barbershop or car wash—those were the businesses back then. Things you can get in easily to get out of [that] life. At some point, you have to have an exit strategy, because your window is very small; you’re going to get locked up or you’re going to die.”

Jay Z started his sports agency, Roc Nation, in April 2012, and he's already signed some high profile athletes including Yankees player Robinson Cano, Giants receiver Victor Cruz, WNBA player Skylar Diggins, and perhaps his biggest client, NBA star Kevin Durant.

Jay Z also talks about Obama, his rough childhood, how he wined and dined Beyoncé, and how daughter Blue Ivy has changed his life.



More From Business Insider

  • Famed chef Mario Batali's Vegas Strip restaurants will close
    Finance
    Associated Press

    Famed chef Mario Batali's Vegas Strip restaurants will close

    LAS VEGAS (AP) -- Mario Batali's three Las Vegas Strip restaurants will shut down July 27, officials said Friday, as the celebrity chef faces sexual misconduct allegations from multiple women. Batali & Bastianich

  • Source: Trump administration has cut deal with China's ZTE
    Business
    Associated Press

    Source: Trump administration has cut deal with China's ZTE

    The Trump administration has told Congress that it's reached a deal that would allow Chinese telecommunications giant ZTE Corp. to stay in business, a source familiar with the talks who spoke on condition of anonymity to discuss a confidential matter said Friday. A resolution of the ZTE case could clear the way for the United States to make progress in its high-stakes trade talks with China. Under the agreement, ZTE would oust its management team, hire American compliance officers and pay a fine.

  • Netflix's IPO was 16 years ago Wednesday — here's how much you'd have made if you invested $1,000 back in the day (NFLX)
    Finance
    Business Insider

    Netflix's IPO was 16 years ago Wednesday — here's how much you'd have made if you invested $1,000 back in the day (NFLX)

    Wednesday was the 16th anniversary of Netflix's initial public offering. A $1,000 investment made at the stock's first-day closing price would be worth nearly $300,000 today. Wednesday was the 16th anniversary of Netflix's initial public offering, and an investor buying in then would have made a very impressive return over the years.

  • Business
    Reuters

    U.S. gasoline prices rise near $3/gallon ahead of driving season

    Filling the fuel tank for vacation driving this summer will be pricier than it has been in nearly four years for American motorists, as gasoline prices nationwide rise toward the expected average seasonal price of $3 a gallon. Lower-income consumers could be most likely to rethink their driving habits as pump prices rise, the American Automobile Association said. Prices ease as the peak summer season ends around September, AAA said, but they could remain at seasonal highs not seen since 2014.

  • Boeing Deploys Executive to Rolls-Royce to Help End 787 Engine Crisis
    Finance
    Bloomberg

    Boeing Deploys Executive to Rolls-Royce to Help End 787 Engine Crisis

    Boeing Co. has dispatched a prominent executive to help Rolls-Royce Holdings Plc work through escalating engine problems that have grounded dozens of 787 Dreamliners. Keith Leverkuhn is serving as Boeing’s eyes and ears at Rolls factories in Singapore and Derby, England, where the Trent 1000 engine is manufactured and being repaired. Leverkuhn, an engineer with expertise in propulsion, is best-known for steering Boeing’s 737 Max through development to its commercial debut a year ago, months ahead of schedule.

  • Chipotle Rolls Out New Drive-Thrus, But They’re Not What You’re Expecting
    Finance
    Fortune

    Chipotle Rolls Out New Drive-Thrus, But They’re Not What You’re Expecting

    Excitement grew last summer when Chipotle announced plans to add “vehicular pickup windows” to its restaurants. Rather than using a microphone to order while idling in their cars, customers must order through the Chipotle app or an online form.

  • Exclusive: Tesla flies in new battery production line for Gigafactory
    Finance
    Reuters

    Exclusive: Tesla flies in new battery production line for Gigafactory

    FRANKFURT/SAN FRANCISCO (Reuters) - Tesla Inc has flown six planes full of robots and equipment from Europe to California in an unusual, high-stakes effort to speed up battery production for its Model 3 electric sedan, people familiar with the matter told Reuters this week. Transporting equipment for a production line by air is costly and hardly ever done in the automotive industry, and the move underscores Tesla Chief Executive Elon Musk's urgency to get a grip on manufacturing problems that have hobbled the launch of the high-volume Model 3 and pushed Tesla's finances deep into the red. "As usual with Tesla, everything is being done in a massive hurry and money seems to be no obstacle," said one of the two sources.

  • Obama knew about FBI informant: Tom Fitton
    U.S.
    Fox Business Videos

    Obama knew about FBI informant: Tom Fitton

    Judicial Watch Tom Fitton discusses the reports that an informant was placed inside the 2016 Trump campaign by the FBI.

  • Frito-Lay adds Bare Snacks to its healthy offerings
    Business
    American City Business Journals

    Frito-Lay adds Bare Snacks to its healthy offerings

    PepsiCo Inc. is buying a healthy snack company that will be overseen by its subsidiary Frito-Lay. New York-based Pepsi (NYSE: PEP) announced Friday is will acquire Bare Foods Co., which does business as Bare Snacks and makes baked fruit and vegetable snacks. Financial terms of the deal were not disclosed.

  • Why Is AT&T (T) Down 8.2% Since Its Last Earnings Report?
    Finance
    Zacks

    Why Is AT&T (T) Down 8.2% Since Its Last Earnings Report?

    It has been about a month since the last earnings report for AT&T Inc. T. Shares have lost about 8.2% in that time frame. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. AT&T reported mixed first-quarter 2018 results, with the top and the bottom lines missing the respective Zacks Consensus Estimate despite solid prepaid phone gains, record low first-quarter postpaid phone churn and continued DIRECTV NOW subscriber growth.

  • The General Electric and Wabtec Merger: What It Means to Investors
    Business
    Motley Fool

    The General Electric and Wabtec Merger: What It Means to Investors

    Just as promised on its first-quarter earnings call, General Electric Company (NYSE: GE) has announced a deal to exit its transportation business as part of a wider plan to unload $20 billion worth of assets. The deal to merge GE transportation with Westinghouse Air Brake Technologies (NYSE: WAB), or Wabtec, is somewhat complicated but, in general, can be seen as a near-term positive for shareholders. GE has decided to merge GE Transportation with Wabtec.

  • Parkland Families Suing Gun Maker
    U.S.
    Associated Press Videos

    Parkland Families Suing Gun Maker

    The families of two students killed in the Parkland, Florida, school shootings are suing the gun manufacturer of the M&P 15. (May 24)

  • Exclusive: Longtime Cisco leader to exit as customer service group restructures
    Business
    American City Business Journals

    Exclusive: Longtime Cisco leader to exit as customer service group restructures

    Cisco Systems is creating a new customer service group, which has prompted a well-known leader and company veteran to step down. The new group is called the Cisco Customer Experience organization and will consolidate multiple groups that were previously separate, the San Jose-based company confirmed Thursday.  Cisco said it shared the "high-level strategy" and the structure for Cisco’s new Customer Experience organization with employees on Thursday, adding that the new group will be led by Maria Martinez, a recent hire from Salesforce.com. "We are aligning our teams to support the evolution of our operating model to deliver value to our customers throughout their life-cycle and support the company’s transition to recurring revenue," Cisco said in a statement emailed to the Business Journal.

  • Amazon Explains Why Woman's Amazon Alexa Device Randomly Recorded and Shared Her Conversation
    Business
    Fortune

    Amazon Explains Why Woman's Amazon Alexa Device Randomly Recorded and Shared Her Conversation

    In a statement from the Amazon, the company is explaining how a woman’s Amazon Alexa device recorded a private conversation and randomly shared it with one of her contacts. The incident first came to light two weeks ago, when a Portland, Oregon-area woman who identified herself as ‘Danielle’ received a call from one of her husband’s Seattle-based employees, who told her to unplug her Alexa devices immediately. In an interview with KIRO, Amazon said the issue was “very, very rare.” According to an Amazon spokesperson, the device was triggered to record and send the audio by background noise.

  • This Is How Much Costco Employees Really Make
    News
    Reader's Digest

    This Is How Much Costco Employees Really Make

    There are many reasons to love Costco: they’ve got great prices on everything your home could ever need, they're generous with their free samples, and they make fantastic rotisserie chickens. By the way, here are five things you might want to know about those Costco chickens. On top of being compensated fairly, Costco employees—plain and simple—just love working at Costco.

  • I Just Bought My First New Stock in 8 Months, and This Is It
    Business
    Motley Fool

    I Just Bought My First New Stock in 8 Months, and This Is It

    Since September, when I bought my first shares of Intercept Pharmaceuticals, I hadn't added a new stock to my portfolio. After months of crowing about the value this blue-chip biotech stock offered, I took the plunge and added Celgene (NASDAQ: CELG) to my portfolio. Since hitting an all-time intraday high of $147 in early October, shares of Celgene have been shelled.

  • Behind the Law Firm Brawl That Could Cost Michael Avenatti Millions
    News
    ALM Media

    Behind the Law Firm Brawl That Could Cost Michael Avenatti Millions

    Photo: David Handschuh/NYLJ[/caption] While Michael Avenatti has been loudly battling with lawyers for Michael Cohen and President Donald Trump, he’s also been quietly litigating against a former partner for more than two years, leading to a headline-grabbing $10 million judgment on May 22 against one of his law firms, Eagan Avenatti. The dispute centers on Eagan Avenatti, where Avenatti remains managing partner, and three lawyers who left to form a law firm of their own—Irvine, California-based Frank Sims & Stolper.

  • Sears Prepares to Hand Lampert Another Prized Asset
    Business
    Motley Fool

    Sears Prepares to Hand Lampert Another Prized Asset

    Sears Holdings (NASDAQ: SHLD) is considering chairman and CEO Eddie Lampert's offer to buy much of the last remaining valuable assets the retailer has. The board of directors announced it was forming a special committee to consider Lampert's proposal as well as to see if anyone else might be interested in purchasing them. Considering Sears has been trying to sell most of these assets for the better part of two years without any luck, Lampert is likely to be the high bidder, if not the only bidder.

  • Meghan Markle makes gold sales sparkle
    News
    Reuters

    Meghan Markle makes gold sales sparkle

    The Meghan Markle effect has spread to yellow gold jewelry, helping boost United States sales in the first quarter of 2018 with further gains expected, jewelers said. The first three months of the year were the strongest first quarter for gold jewelry demand in the United States since 2009, according to the World Gold Council. Sellers say that is due in no small part to the public's fascination with American actor Meghan Markle, who was engaged to Britain's Prince Harry last November and who married him in a dazzling ceremony on Saturday.

  • Several airlines hold off listing Taiwan as part of China
    World
    AFP

    Several airlines hold off listing Taiwan as part of China

    Several international airlines still listed Taiwan as a separate country on their websites on Friday despite a deadline set by Beijing for carriers to refer to the self-governed island as a Chinese territory. According to a copy of the letter circulating on Chinese social media, it was dated April 25 and gave carriers 30 days to comply, indicating a deadline of May 25.

  • Why Companies Aren’t Investing Their Tax Cut Windfalls
    Business
    The Fiscal Times

    Why Companies Aren’t Investing Their Tax Cut Windfalls

    One big problem is uncertainty surrounding some of the new rules, especially as they relate to the taxation of international profits. The old tax law had many problems, Gleckman writes, but the flawed system at least provided the certainty that many businesses say they need to plan new capital spending. Numerous critics have pointed out that the promised surge in domestic investment as a result of the corporate tax cut has yet to materialize, and Gleckman thinks that uncertainty over how the new rules will work in practice and the possibility that they may see substantial adjustments in the near future are leading companies to sit on the cash or simply return it to shareholders through dividends and buybacks.

  • Business
    CNBC

    Traders bet GE could be gearing up for a massive rally

    General Electric GE shares have been in free fall, but options traders are betting on a resurgence ahead. On Thursday, shares of General Electric jumped nearly 3 percent setting off a surge in bullish trading activity, with call options doubling that of puts. " Options Action " trader Mike Khouw noted that a block of traders purchased the January 2019 20 calls for an average price of 15 cents per contract.

  • Business
    InvestorPlace

    4 Major Energy Stocks to Ditch Now

    Energy stocks are getting smashed lower on Friday, with the Energy Select SPDR (NYSEARCA:XLE) falling 3.1% in mid-day trading to cut below its 20-day moving average for the first time since early April.

  • News
    MarketWatch

    There’s good early retirement and bad early retirement. What to do if you get the bad one

    Forced into early retirement? How to make the best of a bad situationGetty Images/iStockphotoAbout 60% of retirees didn’t plan to retire when they did.DMAMBMCMDMEMGPREVIEWZBZBRZDZDRZFZGZQZRZSZTZUDave Bernard planned on retiring at age 62. But in early

  • Finance
    InvestorPlace

    3 Reasons Micron Technology, Inc. Stock Still Has More Room to Grow

    Micron Technology, Inc. (NASDAQ:MU) stock has gotten out of its funk and in a big way. The price action on Micron stock looks more like that of a red-hot IPO, not a 40+ year old memory chip manufacturer. But hey, the industry has gotten some encouraging