Jay-Z is always expanding his empire. After leaving his president spot at Def Jam, he announced he would be investing in a hotel, not to mention owning the 40/40 clubs. Now, according to the New York Times, Jay is joining forces with Steve Stoute to open an advertising agency called Translation Advertising in New York that will help marketers connect with multicultural consumers. Jay says the new agency is "part of the natural growth" of his music career. He went on to say "As an artist, you make music," he said. "And if you see people who don't know how to market your music, you get involved in it."
The ad agency will be under a parent company, Translation Consultation and Brand Imaging, which has past clients like General Motors, Hewlett-Packard, McDonald's and Reebok. Steve Stoute sold Translation Consultation last fall for an estimated $10 million to $15 million. "You know his story," said Stoute of his new business partner. "He came from nothing and turned it into something before our eyes."