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Jay Z Hip-Hop mogul acquires music streaming company Aspiro for $56m

The world famous rapper drops the cash to take over a tech company in charge of two music streaming services.

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Jay-Z play Jay-Z is regarded as the top hustler in Hip-Hop. (SplashySplash)

Roc Nation boss Jay Z has expanded his business portfolio with his latest acquisition, a Switzerland tech company 'Aspiro'.

The Hip-Hop mogul reportedly bought the company for a sum of fifty-six million dollars in cash.

Aspiro owns two music streaming services, the ad-free WiMP and the high-definition add-on Tidal.

Jay Z's bid was was accepted by Aspiro's main shareholder Schibsted. Jay Z made the bid through his company Project Panther Bidco Ltd.

Analysts are hinting that Jay Z is getting set to take on the popular music streaming service Spotify with his recent acquisition.

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