Jay Z To Rake In $1.5 Million For Stake In Barclays Center
Jay Z is cashing out. Earlier this month, is was reported that Hov sold his shares in the Brooklyn Nets to Jason Kidd. Now, the rap mogul is set to make another $1.5 million off his stake in the Nets' arena, the Barclays Center, according to Forbes. According to the report, Jigga owns slightly less than one-fifth of one percent of the arena. The venue was recently appraised by the city of New York at $741 million meaning Jay makes of with $1.5 million. As the success of the arena goes, so does the rapper's stake. Through June, the BC was the top grossing venue in the United States and had a net operating income of $10.8 million.