Ray J drops millions to invest in cannabis venture
Ray J is expanding his already profitable financial portfolio and invested $5,000,000 in a cannabis business.
The tech enthusiast, whose company, Raycon, hit $10M in sales in less than a year, is now venturing into a weed business called William Ray LA that will specialize in growing, branding and marketing “mary jane,” TMZ reports.
The California-based company will reportedly also feature rolled-up joints called: Ray J’s.
According to Ray’s manager, David Weintraub, the reality star will center his business marketing in the entertainment and music realm.
The cannabis business is catching the eye of many celebs in Hollywood.
For instance, earlier this year, rapper Lil Pump teamed up with a new weed business to be its spokesperson.
According to TMZ, the “Gucci Gang” artist joined forces with cannabis company, Smoke Unhappy, to be its brand ambassador.
Lil Pump will also test products and give creative and marketing input.