Snoop Dogg, who joined the management of FaZe Clan with a $ 1.9 million share deal, left the team before he got his shares.
One of the most successful esports teams in the world FaZe Clan, was listed on the New York Stock Exchange last year and went public. But the company’s share value did not move quite as expected. So much so that the share value, which rose above $ 17 on September 2, is trading at only $ 0.50 today.
One of the elements that made FaZe Clan’s fame known to the whole world was the famous rap artist Snoop Dogg. esports team, $1.9 million worth of shares and offered his son $248k in stock, adding Snoop Dogg to its management team. A painful decision came from Snoop Dogg to the team as these stocks are worth very little today.
Snoop Dogg has left FaZe Clan!
The esports team said Snoop Dogg’s statement to the US Securities and Exchange Commission (SEC) He left the team’s board of directors on March 29. explained. It was emphasized that the departure was not the result of a dispute with the company.
It is stated that the vesting of the shares given to Snoop Dogg is until next year. So Snoop would only have these shares next year. But if he had stayed with the company, the $1.9 million share would be worth today’s price. would have been much lower.
Snoop Dogg wore a FaZe Clan necklace at the world’s most watched event, the Super Bowl:
Source :
https://www.forbes.com/sites/mattcraig/2022/12/15/faze-clan-faces-substantial-doubt-it-can-survive—five-months-after-going-public/