Jay-Z and Novak Djokovic have reportedly invested in a new fitness start-up.
The rapper – worth $1billion – and the world number one tennis player, who has a $220million fortune, are said to be investing in CLMBR which is a rival for fitness platform Peloton, who Jay-Z’s wife Beyonce has recently partnered with.
According to TMZ, CLMBR is about to launch two flagship products – vertical climbing machines – with the 99 Problems’ hitmakers longtime fitness consultant Marco Borges and YouTube co-founder Chad Hurley also said to be investing.
CLMBR replicates virtual climbing and features world-first machines with touchscreen displays, and classes with instructors.
Jay-Z has proved to be a savvy businessman – his previous investments include a $70 million stake in Uber, a $100 million stake in streaming service Tidal and stakes in Armand de Brignac champagne and D’Usse cognac, valued at $410 million.
The reported investment comes as Beyonce joined forces with fitness platform Peloton to create a series of themed workouts for students during Homecoming season.
The 39-year-old music icon’s classes will celebrate Homecoming season – an celebration for students at Historically Black Colleges and Universities (HBCUs) which takes place in the Autumn and pays tribute to history and traditions.
The Crazy In Love hitmaker has helped create Homecoming-themed workouts such as indoor cycling, running, strength, yoga and meditation to ensure students do not miss out on the celebrations amid the COVID-19 pandemic.
Beyoncé said: ‘Peloton and I both believe that the power of music can help uplift, motivate and inspire those on their fitness journeys.
‘I’ve been a Peloton member for several years, and I’m excited to partner with a company that helps people, young and old, be the best versions of themselves, in an innovative and adaptable way.
I’m proud to celebrate the students at HBCUs with this donation, to encourage them to find and embrace their own wellness regimens.’
The Grammy-award winner will also work to create classes which incorporate areas which are important to her – such as music, movement, and fitness.