According to a new article in the New York Times, Jigga’s only owns less than one percent of the team. The actual amount of his percentage is one fifteenth of one percent. So how much is this in dollars and cents? The team itself is worth $300 million, so what’s one fifteenth of one percent? Well, one percent of $300 million is $200,000.
Mikhail D. Prokhorov, the Russian billionaire who bought 80 percent of the team in 2009, are getting out of him, Jay-Z, whose real name is Shawn Carter, is benefiting handsomely, too, beginning with free use of one of 11 exclusive “Vault” suites, for which paying customers are charged $550,000 a year.
Regardless of how much money he’s put into the organization, Jay has enough personal influence to dictate the musical shows that’ll play at the venue and the logo for the team’s uniforms.
© 2012, Brandon Wyche. All rights reserved.