Newsdeck: Jay-Z goes into the marijuana business

Privately owned Caliva, formed in San Jose in 2015, said on Tuesday that Jay-Z had entered a long-term partnership in which he will focus on outreach and the creative direction of the company.

“We want to create something amazing, have fun in the process, do good and bring people along the way,” the rapper said in a statement. Jay-Z, 49, who is married to R&B artist Beyonce, was named by Forbes magazine in June as the first hip-hop artist to become a billionaire thanks to investments in clothing, champagne, ride-hailing service Uber and his Roc Nation entertainment company.

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