Drake, whose net worth is estimated to be $250 million, has made some interesting investments throughout his rap career.
The industries the Canadian-born artist has invested in seem to indicate where Drake sees the future is headed — vegan foods, fast food chicken, sports and gaming, and cannabis.
Here are five investment Champagne Papi has made.
The sports tech industry is reported to be worth $57 billion in 2027, and Drake jumped into it via investments.
StatusPro is a sports technology and gaming company that uses real-time player data to create authentic-seeming extended virtual reality experiences for players.
The Miami-based company has attracted high-profile investors such as LeBron James, Naomi Osaka — and Drake.
The company announced that it raised $5.2 million in its 2021 seed round, according to a press release.
The Grammy-award-winning rapper is the lead angel investor of Canadian-based cannabis, Bullrider. This weed dispensary, which has a flagship location in Bampton, Ontario, boasts that it deliver a premium cannabis experience.
Bullrider uses mature strains such as its Afghani Bullrider strain or stain called Wedding Cake, which has a cannabinoid content potency (THC) that reaches +30 percent and a robust terpene profile of caryophyllene, limonene, and myrcene. Most THC levels range between 15 and 25 percent, and the cannabis flower’s biological limit for THC percentage is 35 percent.
In light of the FTX scandal, Drake’s decision to support MoonPay in 2021 might not have been the most timely investment. However, cryptocurrency, crypto exchanges, and NFT marketplaces are still here.
The MoonPay is a celebrity-backed crypto payments service that raised $86.7 million at a $3.4 billion valuation, Axios reported.
Drake is among 60 names associated with MoonPay, along with other A-list stars like Justin Bieber, Jason Derulo, Bruce Willis, Paris Hilton, Gwyneth Paltrow, Matthew McConaughey, Mindy Kaling, and Questlove.
On Nov 22, 2021, the rapper helped MoonPay raise $555 million in a Series A round led by Tiger Global and Coatue.
4. Daring Foods
As Finurah previously reported, Drake has invested in a Chicago chicken chain called Dave’s Hot Chicken. However, some would be surprised that he is investing in vegan fried chicken products as well.
A company named Daring Foods produces plant-based chicken, and in May 2021, Drake was an investor in its Series B fundraising effort Bloomberg reported, raising $40 million. The craving for plant-based meat is projected to reach $8 billion by 2030.
Although his investment was publicly announced on May 19, 2021, Drake has been investing into Daring Foods since 2018 and has become vegetarian himself, according to Veg News.
“Chicken and pineapple on a pizza could work, but I don’t eat meat anymore,” Drake said during a discussion on Twitch. “I was immediately drawn to the Daring team’s mission to transform how we eat and I am excited to invest in and support a product I enjoy.”
5. Dave’s Hot Chicken
Dave’s Hot Chicken was founded by four friends, Arman Oganesyan, Chef Dave Kopushyan, and brothers Tommy and Gary Rubenyan in 2017. Drake became an earlier investor and offered to help Dave’s Hot Chicken to grow from its pop-up in an East Hollywood parking lot to become America’s fastest-growing restaurant.
Dave’s popularity soared in 2021 after successful TikTok and Instagram campaigns, with the business seeing a 262 percent total 2021 sales growth compared to 2020 and 471 percent total 2021 open unit count growth, compared to 2020.
The company plans to open 700 additional locations throughout North America, and already has sites in Los Angeles, San Diego, Chicago, Dallas, Denver, Houston, Detroit, Toronto, Portland, Milwaukee.