Pot-power couple: Beyoncé builds hemp farm when Jay-Z appoints company CEO

In what Business Insider called “the world’s best power couple,” Shawn “Jay-Z” Carter and Beyoncé expanded beyond the fashion, film and music industries to invest in cannabis – both with a strong focus on social Justice and Compensation for the Effects of the War on Drugs.

Last year, Beyoncé’s BeyGood organization partnered with the NAACP to provide new small business grants for black businesses. A $ 10,000 grant went to The Gift – a Maryland-based cannabis company founded in 2018.

But the diva has recently started to deal with hemp herself. During an interview with Harper’s Bazaar published on Aug. 10, Beyoncé explained how she discovered the powers of CBD, specifically to calm her muscles and help her fall asleep.

Constant touring can add up for the 39-year-old. “I discovered CBD on my last tour and experienced its benefits for pain and inflammation. It has helped me with my restless nights and the excitement that comes with being unable to sleep, ”she said.

Beyoncé stated that she also believes in the healing properties of honey – which eventually led her to build a hemp and honey farm. “I’m building hemp and a honey farm. I even have beehives on my roof! ”She added. Unfortunately, there are no other details about the farm, such as whether it plans to go commercial with hemp like actor Jim Belushi did.

Raw honey itself is packed with nutrients and offers medicinal qualities, and CBD-infused honey is already one thing that dozens of companies are trending on. While Jay-Z’s MONOGRAM is offering THC-rich flower products, people are already speculating about a hemp / CBD line named Beyoncé.

The parent company and Jay-Z appoint as CEO

Meanwhile, Jay-Z is still busy with his numerous pot investments. On August 16, The Parent Company announced that it had named Troy Datcher as CEO. The parent company is behind Jay-Z’s MONOGRAM line of cannabis products.

Effective September 8th, Datcher’s historic appointment marks the “first time a black CEO has run a major US public cannabis organization,” the press release said.

“I am really honored to be at the forefront of shaping the future of the cannabis industry with The Parent Company,” said Datcher. “This is a tremendously strong company, set for further growth, and we have a unique opportunity to revolutionize a sector that has disproportionately influenced many color communities – including my own – for far too long.

Troy Datcher, Incoming Chief Executive Officer of the parent company (CNW Group / TPCO Holding Corp.)

“This is an opportunity to work with cultural powerhouses like JAY-Z and Desiree Perez to correct the wrong of the prohibition, eradicate outdated laws and create a new cannabis infrastructure based on diversity, justice and justice for our communities. Together, we can create a legal cannabis industry that reflects our entire culture in California and beyond, ”said Datcher.

Datcher previously worked for The Clorox Company, most recently as Senior Vice President and Chief Customer Officer. There, Datcher deployed global sales plans for over $ 6.7 billion in annual sales for The Clorox Company’s list of brands.

MONOGRAM, part of The Parent Company, launched a series of campaigns to raise awareness of social justice issues as people stay in jail for doing essentially the same thing as cannabis companies, minus the licenses. Long-term data show that blacks are 3.73 times more likely to be arrested for cannabis than whites, despite almost the same consumption. Additionally, people with cannabis arrests have difficulty entering the legal industry.

“Troy’s business acumen, strategic thinking and leadership are invaluable qualities that will be critical to the growth of our organization,” said Desiree Perez, chief social equity officer and board member of the parent company. “He understands and accepts the unique responsibility we have to redefine the cannabis industry and set a new precedent for cannabis entrepreneurs to build successful businesses. I look forward to seeing him grow into this position and take The Parent Company to new heights. “