Pulitzer Prize-winning journalist Nikole Hannah-Jones is condemning Jay-Z and Will Smith’s investment into a rent-to-own housing startup calling it, “predatory.”
Jones tweeted, “credit counseling is not what will take low-income renters to homeowners, wealth will. All this program does is charge struggling people additional fees for being poor, which is what every other predatory lender does.”
She linked her tweet to an article about Jay-Z’s Roc Nation and Will’s Dreamers VC investing in start-up Landis Technologies.
The startup claims to help renters transition to homeownership after renting for two years and building up their credit and down payment. Landis Technologies co-founder Cyril Berdugo called Jones’ comments “false” and said, "We would love to talk to Nikole.”