Ray J Inks Massive $31 Million Deal For His Technology Company

Go head, Ray J! The singer/actor just inked a massive $31 million deal that secures the launch of his electronics transportation brand, which is now renamed Raycon.

As many Love & Hip Hop: Hollywood fans already know, Ray J has been passionate about his Scoot-E-Bike company. We've been there since day one when he came up with this idea and everyone thought he was being his usual, crazy self... including his wife, Princess Love. But, Ray J just shut all of his haters up with his new major deal!

According to a press release published on Business Wire: "The $31 million deal, paid in the form of equity and cash, was finalized between Ray J and Cowboy Wholesale, a leading distributor of consumer electronics based in New York City. Ray J takes an active full-time role in the newly formed partnership, overseeing marketing and global branding strategy."

The press release continues: "In the partnership, Cowboy Wholesale brings a world-class management team and board of advisors who have collectively sold over $1 billion in sales of consumer electronics with past executive experience in companies such as Sony, Coby Electronics, and Pepsi."

Ray J said about his new deal: "The world is moving towards renewable green energy, and electric transportation is a big part of that. With the Raycon movement, we are going to make sure we are one of the first ones there."

Shoutout to Ray J for making those monneeyyy moves!

Photo: Getty Images