Jay-Z Sells Majority Stake In TIDAL To Jack Dorsey's Square

After selling half of Armand de Brignac to LVMH Moët Hennessy Louis Vuitton, Jay-Z has sold a majority ownership stake in TIDAL to Square, Inc. The mobile payments company expects to pay a mix of cash and stock of $297 million for the streaming music service, it was announced today.

TIDAL will operate independently within Square, alongside the Seller and Cash App ecosystems. The deal allows Square to extend its platform to musicians by giving them systems, tools, and financial freedom to reach their goals.

“It comes down to one simple idea: finding new ways for artists to support their work,” said Square CEO Jack Dorsey. “New ideas are found at intersections, and we believe there’s a compelling one between music and the economy. I knew TIDAL was something special as soon as I experienced it, and it will continue to be the best home for music, musicians, and culture.”

Jay is expected to join Square’s Board of Directors after the deal closes, while TIDAL’s existing artist shareholders will continue to be co-owners.