Jay-Z has reportedly invested in a fitness startup.
Jay-Z
The 50-year-old rapper, record producer, and businessman is believed to have invested an unknown amount into the up and coming fitness equipment company CLMBR, which is getting set to launch its first two products - a pair of vertical climbing machines - in the near future.
According to TMZ, Jay-Z is not the only investor in the company, with tennis star Novak Djokovic also on board, alongside Jay-Z’s longtime fitness consultant, Marco Borges, and YouTube co-founder Chad Hurley.
CLMBR’s machines stimulate vertical climbing - which is good for working out the back - and are the first to feature touch displays and on-demand classes with instructors.
For Jay-Z, the investment comes after his wife Beyonce recently teamed up with rival at-home fitness app Peloton, where she signed a multi-year deal to curate a "series of themed workout experiences” for members.
The workouts - which will be available both on the app and Peloton's Bike, Bike+, and Tread+ equipment - have been created to honour Historically Black Colleges and Universities' homecoming season, which inspired the 38-year-old singer's 2018 Coachella performance and the subsequent live album and Netflix documentary 'Homecoming'.
Beyoncé - who is "the most requested artist by Peloton’s global community of more than 3.6 million members" - said in a statement: "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."
The company added that Beyoncé "will continue to work closely with Peloton on various forms of class curation across all workout disciplines, touching on areas of importance to her, including music, movement, fitness and wellness."