One of the world's richest musician's pot company goes bust, here's what went wrong

Jay-Z's cannabis brand, Monogram, made a splash when it launched in 2020, positioning itself as a luxury offering in California's competitive marijuana market. The brand, fronted by the billionaire rapper, debuted with sleek pre-rolled joints and cannabis flower, priced at $50 per joint—far higher than the $5 average for competitors. With models elegantly smoking joints at the iconic Frank Sinatra house in Palm Springs, Monogram’s chic image was immediately embraced by media outlets like GQ, Vogue, and Vanity Fair.

However, four years later, Monogram appears to have vanished from store shelves. The brand’s website lists just nine retailers, but none of them feature Monogram products on their online menus. Its parent company, The Parent Company (TPCO), once hailed as a cannabis giant, has also fallen from grace. After launching with $575 million and ambitious plans to dominate the market, TPCO burned through nearly half a billion dollars. It was forced to merge with Gold Flora in 2023, and now holds a minority stake in the struggling entity.

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Despite the initial hype, Monogram’s products failed to live up to expectations. Critics, including cannabis investor Seth Yakatan, noted that the “ultra-premium” cannabis was often described as mid-tier at best. A review by GQ even criticized the $50 joints for failing to stay lit. The high-end pricing couldn’t mask the brand's shortcomings, and many found the products disappointing.

TPCO’s financial troubles continued, posting a staggering $587 million loss in 2022. Gold Flora, which now holds Monogram’s rights in California, is in a dire financial state itself, with over $56 million in losses this year and substantial debt. The company’s uncertain future leaves many questioning how long it can continue operating.

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What began as a grand cannabis venture has now become another casualty in California’s tough legal weed market, where even celebrity-backed brands can falter.

FAQs:

Did Jay-Z launch his own cannabis brand?
Yes, Jay-Z launched his own cannabis brand called Monogram in November 2020. The brand is known for its premium flower and pre-rolls, with a focus on luxury and quality.

Does Jay-Z still sell cannabis?
No, Jay-Z is no longer directly involved in the cannabis business. He ended his relationship with The Parent Company, the company that previously handled Monogram, before it faced significant financial difficulties. While Monogram still exists, it's unclear if it's actively selling products, claim reports.