Jay-Z to Open 40/40 Restaurant in London

Jay-Z is his taking his knack for business across the pond. The CEO of hip-hop has teamed up with England soccer hunk Ashley Cole to bring a 40/40 restaurant to London.

To help boost the city's economy, Jay-Z and Cole have agreed to give a percentage of the profits to local sports endeavors and youth charities. The duo also promises to host lavish soirees with A-list celebrities when the eatery opens next year.

On opening 40/40 in London, Jay-Z said,"London is one of the most vibrant and exciting cities in the world and the perfect location for our new venue. The 40/40 London is going to be the hottest place in town." His business partner, Cole, added: "I am delighted to be working with Jay-Z. I have grown up listening to his music and now to be doing business with him is amazing."

Jay-Z is also taking his business know-how to his fashion line, as he recently announced that he is revamping his Rocawear clothing line. He and Kanye West are also gearing up to release their 'Watch the Throne' collaborative album.

Watch the Jay-Z 'Run This Town' Video Feat. Kanye West and Rihanna