Jay-Z’s luxury cannabis company Monogram has been struggling to sell $50 joints, reportedly resulting in the rapper’s business losing half a billion dollars since it was launched in 2020.
“Four years later, it looks like this splashy celebrity cannabis brand has already disappeared,” reported SFGATE, pointing out that Monogram’s website lists nine retailers — eight in California and one in Arizona — but none of them list the rapper’s products on their online menus.
The conglomerate behind Jay-Z’s cannabis company, The Parent Company, has reportedly burned through half a billion dollars after initially starting with $575 million in cash. It has since merged with another company, which also appears to be in financial trouble.
While the launch of Jay-Z’s brand had been one of the most hyped stories in the cannabis industry, Cannabis investor Seth…