Ray J Snags a $31 Million Deal...and it's Not For His Music! – Raycon

Ray J Snags a $31 Million Deal...and it's Not For His Music!

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Ray J is known for a lot of things: his hit song “One Wish,” dating Kim Kardashian, being the brother of songstress Brandy, his “Love and Hip-Hop” show.

But many people don’t know the performer is into green energy technology. In fact, he recently secured a $31 million deal with consumer electronics distributor Cowboy Wholesale to launch his own tech company, Raycon Global.

This is not Ray J’s first round around the green tech rodeo, though. His company Raytronics makes the Scoot-E-Bike, a foldable, two-wheeled electric vehicle that gained a bunch of celebrity endorsements in 2015. In a statement, the performer says he sees this new partnership as the next evolution to his already existing tech ventures.

Ray J says he’s also focused on renewable green energy, which is where the world is moving, and he plans to get there first with the help of his Cowboy partners.

“Cowboy Wholesale gets it, and when I say I want something, they go get it for me, and they believe in my dreams,” he told Cheddar.

The green economy has been quickly gaining traction. Marketing firm Euromonitor says that’s propelled by three key factors: a new era of sustainability, low carbon emissions, and a desire for a global energy transformation. Awareness on the part of consumers is at the root of demands. Euromonitor says that green technology supply was driven by a general fear that rapid depletion of resource supply will be detrimental to the environment.

Ray J’s electric bike will hit the market in December. The company also plans to launch other tech items, such as a watch, wireless and entertainment gadgets, and other green vehicles.

The entertainer-turned-entrepreneur says he wants to inspire youth to strive for more than a music or sports career.

And he says he learned some things from ex-partner Kim Kardashian. The TV personality and businesswoman recently launched a perfume line of three fragrances which, according to TMZ, brought in $10 million in one day. Ray J says “numbers don’t lie.”

“We’re doing our part, she’s doing her part, that’s where we all should be,” he said. “I’m married, she’s married … and you see the blessings trickling down.”



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