Is Jay-Z planning to purchase an island worth £2m in The Bahamas?
There are some reports that he is planning to buy an island in the Bahamas for himself and wife, Beyonce.
They are on a lookout at the North Abaco area and tipsters says that the couple could transform the island into something similar to Richard Branson’s Necker Island and use it as a place to holiday with their daughter, Blue Ivy.
“Jay’s been looking for a private island for the family,” a source said. “He wants to turn it into his own Necker Island like Richard Branson. He’s getting it partly to mark their fifth wedding anniversary but also, with Bey back in the spotlight, it’s getting impossible for them to do normal things such as go to the beach with Blue. A private island means they’ll be able to have quality time with minimum staff and security.”
Meanwhile, Jay-Z will sell his shares in the New York Nets as he transformed his Roc Nation business into a sports agency.
According to NBA rules that it is against the said regulation to own shares in a team while acting as an agent at the same time so Jay-Z will sell his shares…one fifteenth of one per cent in the club, in order to continue.
The couple caused controversy this week after they went to Cuba for a holiday. The US has a 51-year embargo making it illegal for US citizens to travel to Cuba solely for tourism, however, travellers can visit the country by obtaining a cultural exchange licence. It was later confirmed that the trip was legal with a source stating that Beyoncé and Jay-Z were carrying licences provided by the Treasury’s office of foreign assets control.