Jay-Z‘s cannabis brand Monogram isn’t affiliated with The Parent Company. This money-bleeding weed hub was recently discovered to have blown through $575 million in cash … and hasn’t been linked for a couple of years!!!
A source tells TMZ Hip Hop, “Jay-Z stepped away years ago and it just went up in a mess” … with an official separation timeline of December 2022 and is currently owned by another LLC.
Jay and Monogram launched an aggressive campaign beginning in 2020, promising a premium cannabis experience … but still were accused of selling overpriced mid in the market.
Cannabis expert Seth Yakatan told SFGATE those campaigns cost The Parent Company “mind-boggling amounts of money” … and Jay-Z and Monogram attempting to slang $50 joints was a no-go in California’s brutal market.
Ya can’t knock the hustle with the pricey pre-rolls, but at least he didn’t lose over half-a-billion in the deal!!!
It is with great sadness we mourn the passing of our dear friend and client, Troy Datcher. pic.twitter.com/qfBCDlxnCy
— MATTIO COMMUNICATIONS (@mattiocomms) March 4, 2024
@mattiocomms
The Parent Company has since been absorbed by another company, Gold Flora, capping off a rough year … Troy Datcher — the first Black CEO to run a major cannabis company — died in March.