Diddy & JAY-Z Working On A New App To Locate Black-Owned Stores: "It's About Blacks Gaining Economic Power"

Music mogul Diddy and JAY-Z are up to something that’s going to be a life-changer. Puff Daddy has announced he has a new app in the works with Young Hov to help black owners.

Although currently nameless, Puff reveals in the new GQ magazine their app will let people look at neighborhoods and locate black-owned businesses.

He said he wants to develop an app that will allow users to look at a given city or neighborhood and see where the black-owned and black-friendly businesses are. He didn’t want to say too much about the app. It wasn’t finished. He didn’t have a name for it yet. “This is not about taking away from any other community,” he said. “We’ll still go to Chinatown. We’ll still buy Gucci!” He laughed. “But the application will make it possible for us to have an economic community. It’s about blacks gaining economic power.” He and Jay-Z have been talking about this, he said, about moving the race forward actively, by means of: making a lot of money and putting it back into the community. (GQ)

Earlier this month, JAY-Z made headlines after finally dethroning Puffy from Forbes‘ annual wealthiest hip-hop artists list.

Jay-Z upped his net worth from $810 million to $900 million over the past year, seizing hip-hop’s cash crown for the first time since Forbes started counting back in 2011. The Brooklyn-born mogul’s jump is due mostly to the rising value of his interests in Armand de Brignac champagne and D’Ussé cognac, on top of nine-figure ownership stakes in his Roc Nation empire and Tidal streaming service. Dre ranks third with $770 million, creeping upward thanks to the market trends boosting his nine-figure windfall from Apple’s $3 billion buyout of Beats in 2014. (Forbes)

Recently, UFC superstar Conor McGregor reacted to Diddy’s Forbes Wealthiest Hip-Hop list placement.