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Jay-Z Loses a Bet but Schools Wind up Winners

Last December 14, Nets investor Jay-Z and Bobcat owner Robert Johnson placed a friendly bet: whichever of their respective teams was the first to score 80 points first in the game, the owner on the short-end would have to donate money to schools in that community. Johnson won, Jay-Z lost [so did the Nets] and he agreed to lay out $30,000 for winners of a school essay contest. Wednesday, six schools--three in New Jersey, three in New York--were announced as the winners.