The Jasmine Brand exclusively reports that Ray J is walking away from Raycon, selling his shares that has an estimated value of 100 Million.
Sources say the reality star and entrepreneur waited for the perfect time to solely focus on his next biggest venture, an entertainment network.
“This isn’t merely about transitioning from one venture to another; it’s about seizing control of destiny’s helm and steering it towards his ultimate vision,” a source told the outlet.
About Raycon
Ray J, is considered the visionary behind Raycon Global that is described as a group of creatives, technologists and operators who design Everyday Tech that people can rely on every day, seamlessly integrating new solutions into the lives of the modern consumer.
As a brand with over 3 million customers, most commonly known for our popular earbuds and headphones featured on thousands of tastemakers, we’re eager to expand into new product categories, including mobile accessories and more, with a diverse range of products meticulously engineered to cater to the consumer’s ever-evolving needs.
According to Hot 97 Ray J’s Raycon products included bikes, eyewear, and audio devices.
The brand elevated the entertainer’s portfolio and earned him positions at other companies like Krystal restaurants.
Ray J’s shares in Raycon are valued at around $35 million, but sources say that his shares are actually close to $100 million.
“Depending on the intricacies of the deal structure and the elusive ‘kicker’ that precipitated the sale,” the source told Jasmine Brand.
Ray J has an announcement planned for March 18 – according to a single post on his Instagram account.
He is a pioneer in television with original reality shows like Love For Ray J (2010), Brandy and Ray J: Family Business (2011), and Bad Girls Club All-Star Battle (2013,2014).
Exit news comes after Ray J and his wife, Princess Love, announced divorce in February.
Love would release a statement on Instagram regarding the split for a fourth time.
