LONDON, ENGLAND - JUNE 01: Musician Jay-Z walks around the pitch ahead of the UEFA Champions League 2023/24 final match between Borussia Dortmund v Real Madrid CF at Wembley Stadium on June 01, 2024 in London, England. (Photo by Alex Livesey - Danehouse/Getty Images)
Jay-Z is spearheading philanthropic initiatives for underprivileged students.
On Friday, (June 7), Jay-Z’s Roc Nation unveiled plans to launch a new educational campaign for Philadelphia students. PEOPLE reports that the funding will assist K-12 students from low-income households with $300 million in scholarships to attend various prestigious private schools and educational organizations across the city.
In a statement, Roc Nation’s Managing Director of Philanthropy, Dania Diaz, expressed the entertainment company’s lasting bond with Philadelphians, emphasizing their commitment to empowering the city’s innovators.
“We have enjoyed such a special connection with Philadelphians, so we’ve made it our mission to invest in the long-term success of the city’s changemakers. Impact starts with the students and with awareness. We want to empower the youth and families with the knowledge to pursue their scholastic dreams, make their voices heard and become the leaders of tomorrow.”
According to Billboard, students will get different amounts of money for scholarships depending on their educational level. Half-day kindergarten students will get $2,500, kids in kindergarten to 8th grade will get $5,000, and high school students will receive $10,000. Special needs children of any age will be eligible for $15,000 in grant funding. To qualify, a child’s family income cannot exceed 250% of the federal poverty line, currently $75,000 for families of four.
Billboard further reports that Roc Nation will spread awareness by hosting daily events from June 10 to June 21. Attendees will have the chance to learn more about the Philadelphia Award for Student Success program, which is also known as the Senate Bill 757.
Additionally, Hov and Roc Nation have supported and engaged with the Philadelphia community for many years. Roc Nation has hosted the annual Made In America festival, while the REFORM alliance aided in passing laws to support individuals on parole or probation in Philadelphia.
Hov’s major contribution should not come as a surprise as he recently made Forbes’ billionaire list. The hip hop mogul was ranked as one of the top fourteen wealthiest celebrities.
Jay-Z made an appearance on the list alongside Rihanna. Hov appeared at number five on the highly-anticipated roster with a net worth of reportedly $2.5 billion. Reports suggest that Jigga’s wealth significantly increased after he sold Tidal and invested in Uber and Block, along with other business ventures.
