JAY-Z is diversifying his portfolio some more, and just invested in a new fitness company.
CLMBR, described as “an innovative vertical climbing machine”, announced both Hov and tennis star Novak Djokovic as investors in a press release on Thursday (November 19), ahead of the 2021 launch of CLMBR Connected and CLMBR Pure machines. In a statement, CLMBR founder and CEO Avrum Elmakis expressed his excitement having the two A-list celebrities involved.
“We are excited to work with JAY-Z and Novak to bring the best modality in fitness to consumers,” Elmakis said. “Unlike bikes, treadmills, and rowers, CLMBR has less impact on the joints while providing the most efficient calorie burn per minute of any machine in the marketplace. CLMBR disrupts the way that people work out and offers something new in a segment that has not seen a lot of meaningful innovation, and I’m excited to share the machine with consumers around the world as we become the leader in the connected fitness market.”
The investment follows another power move over the summer, when Jay revealed Roc Nation was partnering with Brooklyn’s Long Island University to launch the Roc Nation School of Music, Sports & Entertainment. The school is currently taking applications to launch in the Fall 2021 semester, and 25 percent of the incoming freshmen class based out of New York will receive full rides with Roc Nation Hope Scholarships.
And last month, Jay announced his cannabis line MONOGRAM in partnership with the California-based company Caliva would be dropping soon as well. Clearly, COVID-19 isn’t stopping him from getting to these bags.