Jay-Z, otherwise known as Shawn Carter, will participate in planning sessions to give his thoughts and insights into brand programmes. He will also collaborate to create ads for Budweiser.
It is the first time the brewer has signed a celebrity to actively develop one of its beer brands.
In a more common use of celebrity, Jay-Z will also appear in a television campaign to cross-promote Budweiser Select and Jay-Z's new album 'Kingdom Come'.
The 60-second ad incorporates scenes from the new Jay-Z video 'Show Me What You Got', which was shot in Monte Carlo and Nice. Another ad is set in a house party taking place on a cliff top in Monaco.
St Louis-based ad agency Cannonball collaborated with Jay-Z and the Budweiser Select brand team on the ads. Jay-Z will offer his expertise on upcoming Budweiser Select television ads, radio spots, print campaign and several high-profile events.
Marlene Coulis, vice-president of brand management at Anheuser-Busch, said: "Collaborating with Jay-Z on marketing our Budweiser Select brand presents an opportunity to work with one of the world's great entrepreneurs and draws upon his expertise with pop culture, music and business."
'Kingdom Come' is Jay-Z's first solo album since he retired from rapping in 2003 to become president and CEO of Def Jam Recordings.
Other business interests include the fashion label Rocawear and the Carol's Daughter range of beauty products.
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