Ray J Sells Shares Of Raycon Global To Launch Television Network

Ray J has made a surprising business decision by selling his complete portfolio of Raycon Global shares to launch a television platform.

The music/television star and entrepreneur has exited his post at Raycon Global despite its $300 million in revenue, The Jasmine Brand reported. Insiders say the Love & Hip Hop star has his sights set on media expansion in the form of a massive entertainment platform dubbed Tronix Network.

The new television network was created from a $5 million investment and has Ray’s undivided attention. The father of two is focused on turning Tronix into the next dominating force in entertainment television and seeks to free himself from any other endeavors that would distract him.

Insiders are estimating Ray J’s potential gains from Raycon shares to fall between $35 to $45 million to possibly even upwards of $85 to $100 million. By selling his Raycon shares, Ray J can secure more funding for Tronix and focus his efforts on his newest business venture.

“This isn’t merely about transitioning from one venture to another; it’s about seizing control of destiny’s helm and steering it towards his ultimate vision,” a source said.

The “Wait A Minute” singer co-founded Raycon Global with Ray Lee to serve as a wireless audio company backed by influencers. There are debates over how much stake Ray J possesses, with reports ranging from 61% to between 30% – 40%. News of his Raycon departure comes on the heels of his wife Princess Love filing for divorce from the singer for a fourth time.

The pair tied the knot in Los Angeles in August 2016 and went on to welcome their daughter Melody, 5, and son Epik, 4. When announcing their split in an Instagram post shared last month, Love said the former couple will “remain committed to co-parenting our children and maintaining a positive and supportive family dynamic.”