Jay-Z Finalizes $302 Million Deal to Sell Tidal Majority Ownership to Jack Dorsey’s Square Kevin Fleming May 5, 2021 Digital Media, Entertainment, Music News A Square spokesperson has told Complex the deal did take place on Friday, but that it’s for “an aggregate consideration of $302 million,” and not $350 million as previously reported. The figure “represents the purchase price for Square’s majority stake in Tidal.” Square executive Jesse Dorogusker will serve as the interim lead for Tidal while a search for a permanent Head of Tidal is underway. There’s a Jay-Z line for everything, and today’s bar will celebrate Hov reportedly closing his deal to sell Tidal to Square: “Put me anywhere on God’s green earth, I’ll triple my worth.” This might be one of the biggest flips of the century. In 2015, Jigga launched Tidal for $56 million in partnership with several artists including J. Cole, Rihanna, Madonna, and more. At the time, people assumed the service would fail. But Hov loaded Tidal with exclusive content and created live events that increased the company’s value. Read more in Complex.com. Related
