The idea that rapper Nas is a venture capitalist is not a new concept. It was reported last year that the New York emcee was pretty heavy into the investing game, acquiring parts of startups in the tech space. Now it’s being reported that he’s made around $40 Million from a company that makes smart doorbells with video capabilities.
In February, the company (called Ring) was sold to Amazon for $1.1 Billion according to Forbes. Nas was one of the company’s early investors, netting him the 8 digit payday according to WeBuyBlack. The Illmatic star also had success with companies like Genius, DropBox and Lyft.
According to PigeonsAndPlanes:
Nas has yet to publicly comment on the big payday, but in an interview about his investments, he recently told Fast Company: “You invest your time, you can invest money and it was just a matter of time before it all fell into place for me. That’s one of the things that I thought a lot about as a young kid—the guys behind the scenes who make things happen, help build people up, make dreams come true.”
Ring was worth so much because last year they pretty much owned the entire market of video doorbells. Users are able to see who is ringing their doorbell, thanks to a tiny camera that broadcasts to a smartphone app.