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Cannabis Lifestyle

Ray J Invests $5M on Cannabis Business

Daniel King

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Ray J

American singer, rapper, and songwriter William Raymond Norwood Jr, more popularly known as Ray J, has reportedly invested a whopping 5 million dollars on his marijuana firm. The artist will be launching his own company named William Ray LA.

In a short clip posted on the social media platform Instagram, the star shared his excitement to the public. The caption on the video reads, “Been working on a deal for a year now!! Stayed up for days at a time getting work done! …But it’s about to finally be official this week!” The caption also thanks his hardworking team coming from different states.

About William Ray LA

The California-based marijuana firm plans to sell numerous indica and sativa products. One of the featured products on the website include pre-rolled marijuana called “Ray Jay’s.” Customers can also purchase cannabis strains placed in a glass jar, which the website dubs as “aesthetic.”

According to a report by TMZ, Ray J has gathered some of the best industry names and ganja experts. These specialists reportedly bring something to the table, with individuals delving into growing, branding, and marketing the herb to the public. The singer-performer will also add a personal touch and expertise to the brand, taking on a more hands-on approach to handling the company.

TMZ also notes that the William Ray LA company is bringing its best foot forward, with a fully stocked greenhouse already waiting.

Wider Cannabis Client Reach

In order to gain wider support from the public and have an increased customer reach, Atlanta Black Star reports that the company plans to utilize non-traditional forms of marketing. Ray J’s manager, David Weintraub, states that they will make use of entertainment channels, as well as the media and music industries.

Apart from their line of sativas, indicas, and pre-rolled marijuana, the company is also looking to offer its services to similar businesses looking to grow their network, notes TMZ.

Other Line of Businesses

The artist turned entrepreneur seems to be following his cousin Snoop Dogg’s footsteps.

Revolt TV notes that aside from the marijuana firm, the performer has also invested his hard-earned money in a variety of businesses and industries. Ray J also has a tech company named Raycon Global Inc. which offers wireless audio products.

Likewise, Atlanta Black Star notes that the artist also has a business called Raytroniks. Launched in 2016, Raytroniks offers an electricity-driven scooter e-bike.

 

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Cannabis Lifestyle

High and Wealthy: Top 8 Richest People Who Have Used Marijuana

Daniel King

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Richest Cannabis Users

For years, the word “rich” carries a broad range of possible connotations – classy, refined, eloquent, regal … and high?

Gone were the days when the wealthy are boxed within the “prim and proper” notion. Today, the newer generations of the top 1% are more than willing to break the strict expectations and experience a different dose of high and wildness.

From business tycoons, politicians, to award-winning artists, here are 8 of the richest cannabis users.

Get to know them:

  • George Zimmer

Perhaps, it is safe to say that almost every guy has heard the name “George Zimmer” before. He is, after all, the founder and former CEO of the popular clothing chain, Men’s Warehouse. Although Zimmer was fired as executive chairman in 2013 due to his “unwillingness to hand over the reins,” the entrepreneur remains to be one of the biggest fish in the cannabis pond.

In fact, in 2010, Zimmer has openly showcased his support for the legalization of cannabis by donating a staggering $70, 500 to support the Proposition 19 in California.

Five years later, in an interview with CNBC, the former CEO said he has been regularly smoking marijuana for half a century already. When asked about his stand about the marijuana prohibition, Zimmer is quick to respond, saying: “This is the biggest con that has been perpetrated on this country in the last century.”

  • Ted Turner

No one can debunk the unpleasant stereotypes linked to marijuana users more than the American billionaire Ted Turner. Not only is he famous for founding the first 24-hour news network, CNN, but he is also regarded as America’s second-largest individual landowner and a self-made billionaire. In 2014, Forbes estimated Ted Turner’s net worth at $2.2 billion. Today, Turner continues to rise as one of the top media tycoons in the country.

For years, Ted Turner has been rumored to have been a marijuana user. Some sources even claimed he had been caught growing marijuana in his dorm room at school. Although the mega-mogul refused to clarify the rumors, his vocal support for the legalization of cannabis and his consistent role as a sponsor of the Kentucky Hemp Museum already seem to confirm the report.

  • Richard Branson

Richard Branson is not the kind to back out from anything – even from admitting he smokes marijuana. In fact, in an interview with GQ magazine, the founder of the Virgin empire had admitted he tried using cocaine, ecstasy, Viagra, and marijuana.

“I haven’t tried skunk, I have smoked cannabis though. I mean, I went with my son on his gap year, for God’s sake. We learned to surf and had some nights where we laughed our heads off for eight hours,” the multi-millionaire airline boss told Piers Morgan.

As a bonus, the British entrepreneur also said that the first person to teach him how to roll a joint is none other than Rolling Stones guitarist Keith Richards.

For years, Branson has been one of the most devoted supporters of the legalization of marijuana and even said he’d put in on sale if it were to become legal.

  • Hugh Hefner

No one lives the “American Dream” more accurately than Hugh Hefner. From astounding mansions, fanciful lifestyle, dream girls, to regular puffing of cannabis – this magazine tycoon seems to has it all. Despite his death in 2017, the founder and editor-in-chief of Playboy magazine remains to be one of the biggest faces of celebrity cannabis users.

“I don’t think there’s any question that marijuana should be legalized because to not legalize it, we’re paying the same price we paid for prohibition,” he told Fox News on 2010 when asked about his stand on the legalization of the plant. “In other words, it is a medical concern and it should be handled that way.”

In a book called High in America: The True Story Behind NORML and the Politics of Marijuana, Hefner shared how marijuana made him see sex in a different light. “Smoking helped put me in touch with the realm of the senses. I discovered a whole other dimension to sex. I discovered the difference between fucking and making love,” the Playboy magnate told Patrick Anderson.

  • Michael Bloomberg

Nothing tops Michael Bloomberg when it comes to being the face of success. Not only is he the co-founder and CEO of the financial, software, data, and media giant, Bloomberg L.P, but he also became a three-term Mayor of New York City. Forbes estimated his net worth to be a stunning $55B and was even hailed as the 9th richest people in the world.

In 2001, Bloomberg was asked by New York Magazine whether he had ever tried marijuana, in which he responded with the iconic line: “You bet I did. And I enjoyed it.”

He then later came to regret making the comment when the National Organization for the Reform of Marijuana Laws Foundation unveiled a $500,000 ad campaign featuring his face alongside the quote.

“In terms of, I had, certainly when I was younger, as I suppose most people in my generation, experimented,” he told during a news conference. “I never lie, so if somebody asked me a question, I told them. Do I, in retrospect, wish I didn’t say it that day so they couldn’t quote it? Of course.”

However, despite his experience with the plant, Bloomberg was not fond of decriminalizing marijuana. In 2013, he even called medical marijuana “one of the greatest hoaxes of all time.”

  • Bill Gates

The American business magnate and co-founder of Microsoft isn’t just commendable for having the world’s largest private charitable foundation but also for his vocal support for the legalization of marijuana13 in his home state of Washington.

Although the Microsoft’s mogul has been mum on whether he had used to smoke cannabis, his 1994 interview with Playboy seem to suggest a possible answer. During the said interview, Gates was asked if he had ever taken drugs, particularly LCD. He responded by saying: “My errant youth ended a long time ago.”

When asked to further his answer, the American entrepreneur only said: “That means there were things I did under the age of 25 that I ended up not doing subsequently.”

Bill Gates now stands as the top 2 richest individuals in the world, according to Forbes.

  • George Soros

Aside from his vocal support for democratic ideals and causes, the Hungarian-American billionaire George Soros is also a faithful supporter of the legalization of marijuana. In fact, since 1984, he has been injecting more than $80 million of his money to various alliances and networks for the advancement of the legalization of marijuana.

Although he said he finds no use for drugs, the prominent international investor admitted he once tried smoking cannabis.

“I tried marijuana and enjoyed it, but it did not become a habit and I have not tasted it in many years,” Soros said in an interview.

As a well-known humanitarian, George Soros believed that the marijuana laws are doing more harm to people than good.

“The criminalization of marijuana did not prevent marijuana from becoming the most widely used illegal substance in the United States and many other countries. But it did result in extensive costs and negative consequences,” he asserted.

  • Steve Jobs

Perhaps, we can all agree that no other CEO could top the grand stature of Steve Jobs when it comes to the public realm. After all, who would forget the genius mind behind the Apple gadgets? In 2010, he was hailed by Forbes to be the 17th most powerful person. And even when he succumbed to cancer in 2011, he was still regarded as one of the leading pioneers of the microcomputer revolution.

Prior to his death, Jobs’ involvement in recreational drug use is not a secret to the public. In fact, he was even able to give a talk about his drug experiences, particularly with LSD and marijuana. During the interview, the Apple Co-Founder expressed that his use of LSD was one of the “two or three most important things” he ever did in his life. He also said he and his friends used to smoke marijuana and eat pot brownies for some time before. For Jobs, the reason behind his marijuana usage stems from the relaxing effect the plant provides, along with its creative significances.

Today, Steve Job’s legacy continues to affect the computer, wireless, and even cannabis industries.

After his death, Daniel Kottke, an old friend of Jobs’ told CNN that Jobs’ experiments with drugs stopped with the dawn of his company, Apple.

“Once Apple started, Steve was really focused with all of his energy on making Apple successful… and he didn’t need psychedelics for that,” he explained.

Conclusion:

Surely, the “high” and wealthy will always have their own ways to stay on top. From CEOs, politicians, sports personalities, to celebrities, there always comes a broad list of rich people who find leisure in the company of the green plant.

Who among these people do you fancy sharing a joint with?

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Cannabis Lifestyle

Paul Wilmot Communications Ventures to Cannabis Territory

Daniel King

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Paul Wilmot Communications

Paul Wilmot Communications (PWC), a public relations firm servicing companies in and out of the United States, is the latest agency to venture into the cannabis industry. The agency’s expansion follows in the wake of Havas Media’s entrance to the world of marijuana early in July 2019.

The communications agency intends to create a cannabis division which focuses solely on catering to marijuana products in the market. In particular, Paul Wilmot aims to provide access to clients and companies who are handling CBD and THC products.

Taking the Road Less Travelled

With the wave of legalization hitting the different areas in the United States and the global market, Paul Wilmot Communications believes that it has the capacity to “provide the opportunity to introduce the new uses of CBD within the broader cannabis category.”

In line with the growing market opportunities in the field, PWC chief executive officer Hampton Carney states that the niche creates a “tremendous opportunity to educate the general public on their benefits while creating broader, mainstream acceptance and understanding of the category.”

Samantha Kain, managing director of the company, shares that the new division was created specifically to address the growing needs and demands of the industry. With over two decades of experience, the agency hopes to cement its place by continuously creating strategic brand awareness.

Beautiful Partnerships

Following news of its departmental expansion, PWC reveals in its press release that its services have been retained by three clients in the CBD and cannabis-derived industry. The services will range from influencer campaigns, media relations, community management and engagement, corporate communications, and thought leadership.

Despite giving the public a glimpse of its future endeavors, the communications agency remains mum on the list of clients it is currently working with. According to its press release, the company will name its three partners later this fall.

What the Future Holds

Under its newly-established division, Women’s Wear Daily predicts that the agency will be working closely with brands in the beauty and skincare sector, particularly with the firm saying it is slated to roll out CBD and THC products and retail concepts that cover skincare and beauty items. The line will include body balms, tinctures, supplements, and many more.

Besides these, the new PWC division will also be responsible for handling fashion lines and accessories related to the industry.

Alongside the new division, PWC’s broadcast and podcast team will work towards giving new clients exposure through initiating conversations surrounding cannabis.

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Cannabis Lifestyle

Flower Co. Raises $2.8 Million Fund to Expand Operations in California

Jordan Webber

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Flower Co Raises Fund for Expansion

The online wholesale cannabis seller Flower Co. recently announced it had raised about $2.8 million fund in a seed round. Investors include firms such as Slome Capital and Prehype, as well as some individuals.

With the funding, the firm aims to tap black market patrons to buy legally through its better deals and accessibility using its platform. While anyone can purchase cannabis on the site, Flower Co. can considerably slash the prices of its merchandise for its members. With an annual membership of $119, loyal buyers can avail their favorite cannabis strain or products with up to 40% off the original price.

Calling itself “the Costco of cannabis,” the cannabis merchant offers a wide range of services for its ordinary buyers and members. Aside from the discounts, customers can also get the products through the company’s fast delivery service. Members can also gain access to the company’s exclusive events and concerts.

Making Cannabis Purchases Legal

In many U.S. states where medical cannabis and recreational cannabis are legal, sales in the black market are higher than in legitimate merchants.

In California, where selling and using marijuana both for medical and recreational purposes is legal, the black market still dominates because of the high prices driven by high taxes.

The regulated cannabis market is merely one-fourth the size of the unregulated market, Ted Lichtenberger, Flower Co. CEO said.

Black Market Dominance in California

Last year, California authorities seized around $30 million in marijuana products after increasing the number of raids on unlicensed cannabis dispensaries. Even so, industry leaders said enforcement is still insufficient to break the superiority of the black market in the state.

In 2018, the first year when licenses were issued to dispensaries, the Bureau of Cannabis Control of the state worked with local law enforcers to serve six search warrants on illegal pot shops. During the same year, the agency seized some 1,594 pounds of marijuana products amounting to $13.5 million.

The bureau’s drive to control the proliferation of black market has continued this year. During the first half of 2019, the agency served 19 search warrants on unlicensed sellers, seizing more than 2,500 pounds of illegal marijuana products valued at around $16.5 million, according to a recently released data. The state has also confiscated a total of $219,874 in cash from illegal pot shops.

Starting this month, Gov. Gavin Newsom imposed fines of up to $30,000 per day against illicit marijuana growers and sellers to strengthen enforcement further.

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