50 Cent is not the only rapper taking a stab at the movie business. But luckily Jay-Z has chosen to stay behind the camera (can you see him acting?) by forming a production company with black Hollywood veterans Will and Jada Smith. Fresh off their collaboration as co-producers of the hit musical 'Fela!' this dynamic trio is banding together again to give Willow Smith her first lead movie role. Billboard.com reports:

Will Smith, Jada Pinkett-Smith and their partners at Overbrook Entertainment have formed a joint-venture with Shawn "Jay-Z" Carter to develop and produce major motion pictures. First up? A remake of the Broadway musical "Annie," in which Will and Jada's daughter, Willow -- who recently signed to Jay-Z's Roc Nation label -- will star in.

Although the project is in its preliminary stages, it will be developed with Sony Pictures Entertainment and produced by Overbrook and Jay.


Read the rest about this black business partnership on Billboard.com. As stated in the article, Jay-Z, Will Smith and Jada Pinkett-Smith have previously partnered as investors in the beauty line Carol's Daughter, making this their third professional collaboration. People often ask why more black celebrities who have the net worth to make great investments in our community don't partner in uplifting, money-making projects. As Jay-Z and the Smiths show, sometimes African American stars do in fact come together to create opportunities that have positive economic implications for African Americans at large.

Will the consolidation of black entertainment capital in the few hands of Jay, Will and Jada directly result in the creation of millions of black jobs? No. But it provides positive business role models to black youth (that they will pay attention to), which is something we are sorely lacking. Similarly, seeing Willow Smith as Annie will create another inspiring image for little black girls -- who are usually depicted in the mainstream media as lost, unloved and suffering. (Yes, this is the plot of 'Annie,' but at least she overcomes heroically in the end.)

In addition, it's great to see blacks with money and power doing something creative and productive with their wealth rather than publicly spending it on dumb things. It's hard to say what other films will come out of Jay, Will and Jada's new film production company. But if we look at Will and Jada's track record, it's clear that they will most likely create movies that teach and inspire. They are known for creating respectable images of African Americans for people of all races to admire. This alone is of tremendous value, not only to African Americans, but also to every sector of society. Developing more equitable representation of blacks in the media increases the chances that blacks will be treated with equality. This is good for everyone.