Ex-NBA star Chris Webber believes there’s A LOT of money to be made in the weed business … and he wants to make sure minorities get a fair shot to get that green.
Webber has teamed up with JW Asset Management to launch a $100 million private equity fund specifically to help minority entrepreneurs succeed in the marijuana industry, which has exploded all over the country.
The issue … Webber says there are several barriers in place which seem to prevent minorities from getting a piece of the action — and he’s looking to even the playing field.
Webber told the guys on “TMZ Live” … some states require a $60,000 deposit to apply for a license to open a dispensary which is an extraordinarily high price.
“People need help,” Webber says … “So we’re gonna come in these places and we’re gonna train, we’re gonna make sure we provide jobs, and we’re gonna make sure you have a hub to understand how you can enter the cannabis industry not just as a cultivator or grower, or some star, but also how to make a great living by providing certain services that the industry allow.”
Webber broke it down this way in a statement — “It’s crucial that we diversify the leadership in the cannabis industry and level the playing field for people from our communities.”
“For far too long, minorities have been excessively punished and incarcerated for cannabis while others profited.”