2018 has been good to Nas. Earlier this year the Queensbridge rapper made $40 million after Amazon bought Ring, a video doorbell company for $1.1 billion. Most recently he made his return to music following the release of his Kanye West-produced album Nasir.
Now he continues to build his business portfolio as Amazon has agreed to take another company off his hands. This time its an online pharmacy called PillPack. The company is a door-to-door service, which allows customers to purchase medication online and have it delivered to their door.
Recognizing the value early on, Nas and his Queensbridge Venture Partners (QVP) began investing in PillPack back in 2014. They helped raise $8.8 million. Since then, PillPack has secured $118 million in private capital investments before the retail giant stepped in.
With the deal set to be finalized this fall, pharmacy owners TJ Parker and Elliot Cohen are expected to make $100 million each. Nas and the QVP will receive their share soon after.
To their credit, they have built a solid track record with prior investments in Lyft and Genius. Nas also has expanded his Sweet Chick restaurant business with several locations throughout New York City.
More and more, Nas and other rappers like 21 Savage are seeing the value in placing their money into ventures that retain or increase in value.
Source: Fox Business