Ray J is seriously winning when it comes to his bank account. Surprisingly, it's not because of the legendary Kim Kardashian sex tape that he loves to brag about, Brandy's little brother made a major investment that paid off.
According to BusinessWire.com, Ray J landed a $31 million deal to launch his brand-new electronic transportation brand Raycon. "The $31 million deal, paid in the form of equity and cash, was finalized between Ray J and Cowboy Wholesale, a leading distributor of consumer electronics based in New York City. Ray J takes an active full-time role in the newly formed partnership, overseeing marketing and global branding strategy." So much money in this deal, you would think Kris Jenner negotiated!
Ray J is no stranger to being an entrepreneur. In 2015, he launched Scoot-E-Bike, which was a foldable, two-wheeled electric vehicle. However, this new venture is the next level, the reality star explained, “The world is moving towards renewable green energy, and electric transportation is a big part of that. With the Raycon movement, we are going to make sure we are one of the first ones their.”
Raycon’s official product launch is slated to be released mid-November 2017 at rayconglobal.com.
Congrats to Ray J!
(Photo: Gabe Ginsberg/Getty Images)