He did own Tidal, but he obviously he was seeking financing like anyone does.
In any event, I don't know what he was thinking with trying to challenge Apple and Spotify, they have billions of dollars behind them (even 100s of billions in Apples case), patents, strongest brands of all time and all that shyt. If google couldn't do it, how the hell is Jay-z with help from Madonna and Nicki Minaj supposed to do it. If he got the 3 major labels behind him to go in as his partners then he might've had a chance but without them it's an expensive ass business.