R&B recording artist and entrepreneur Ray J is proving to the world that there’s more than one path to success, as the singer made the leap from showbiz to big tech.
William Ray Norwood, also known as Ray J, made his rounds in Hollywood initially as an actor in his adolescent years. His most notable TV appearance was in the beloved ’90s series “Moesha,” starring his Grammy Award-winning sister, Brandy Norwood. He later moved into singing, reality TV and entrepreneurship. Making a name for himself in the entertainment industry is something Ray J’s parents had blueprinted at an early age. The R&B singer, recalled his family moving from Mississippi into the heart of Los Angeles to kickstart his and his sister’s career.
Star Dreams
The 42-year-old always knew acting was his north star, he told the CEO of Revolt in a recent podcast.
“For an actor or actress, after you get the audition, it’s on you after that. Pure acting and pure adrenaline is how it all got started,” he said in the April 3 interview.
As the actor racked up credits on the big screen, he decided to bet on himself by venturing into the music business. He signed with Elektra Records in 1995, releasing his debut album, “Everything You Want.” Through the years, Ray J eventually began topping Billboard charts with swoon-worthy songs like “Sexy Can I,” and was a notable presence on “Love and Hip-Hop: Hollywood” as one of the show’s original cast members.
Transition to Technology
It wasn’t until 2016 that Ray J made the transition to technology, specifically the electric-powered transportation space. He debuted his first product, an e-bike at the Consumer Electronic Show, a premier technology annual trade show in Las Vegas, Nevada. The singer’s company Raytroniks Scoot-E bike catapulted quickly in celebrity circles, getting a promotional boost from A-listers such as Snoop Dogg and Stephen Curry. He also locked in seed funding from P. Diddy, who was among the first investors, Ray acknowledged in a tweet.
“It’s time to take the transportation industry to the next level!” he said.
The popularity of the bike in the U.S. caught the eye of the ride-sharing company LOOPShare. In 2019, the micro-mobility transportation firm acquired the Scoot-E brand of Raytroniks. According to The Source, Ray J closed the deal and secured 18 million shares in the company.
“When I first met Ray J I immediately realized that his passion and experience in the electric scooter industry and the market would create a significant positive dynamic to LOOPShare, its investors, and its immediate and longer-term prospects,” Anwar Sukkarie, president and Chief Executive Officer of LOOPShare said in a statement after the deal was announced.
The British Columbia company released the Scoot-E-bikes in 2020, a company that was expected to net over $2 billion in sales within two years. The company has not yet disclosed the number of sales since launching its retail website.
Since executing his e-bike endeavor, Ray continues to pick up his momentum by making major money moves in a few segments within the tech sector. His company Raycon Global sells an assortment of electronic products, the most popular being the Everyday E25 Earbuds. The company has now raked in over 300 million in global revenue.
Ray J’s net worth is estimated to be between $14 million and $20 million.
