That is — if you participate in the $1million stock giveaway announced by Miley Cyrus the “Party in the U.S.A.” singer.
Here’s a March 31 Marketwatch quote: Miley Cyrus is giving away a total of $1 million worth of stock in partnership with Square Inc.’s Cash App.
The singer tweeted on [March 31]…
“Nothing is more important than investing in yourself,” the artist and daughter of country music star Billy Ray Cyrus wrote in a post shared on her official Twitter account. “l want to spread ownership to as many people as I can.”
This is yet another sign of the pervasive “equity culture.”
In late 1999, when Martha Stewart’s lifestyle company and the World Wrestling Federation (now World Wrestling Entertainment) became publicly “equitized.”
Glaring signs of the “equity culture” here in 2021 can also be seen with celebrity involvement in special purpose acquisition companies, or SPACs. These so-called “blank-check” IPOs are money raising offerings with no designated corporate entity. Here’s a Feb. 24 Bloomberg headline: A-Rod Joins Blank-Check Derby to Build the ‘Yankees of SPACs’
Besides Alex Rodriguez, former astronaut Scott Kelly, NBA All-Star Shaquille O’Neal, and former Speaker of the House Paul Ryan have also been involved with SPACs.
The volume of SPAC deals progressed from non-existent in 2009 to hundreds in 2020. The chart shows what happened in just the month of January 2021: 101 deals hit the market.
Of a record 367 pending or completed first quarter IPOs, Bloomberg reports that 77% are SPACs.
So, the current “equity culture” is just as vibrant as it was in 1999.