Miley Cyrus has partnered with Cash App to distribute $1 million in stocks to fans, becoming the first person in history to give away such a high volume of shares en masse in a nearly instantaneous fashion, according to the announcement.
In a post uploaded to Instagram and Twitter this morning, Cyrus wrote, “Nothing is more important than investing in yourself. I want to spread ownership to as many people as I can, so I’m teaming up with @CashApp to give out $1 MILLION in stocks.”
Fans can comment their favorite company alongside their $cashtag (a unique identifier for users of Cash App) for a chance to win publicly traded stocks. Winners will be selected randomly and will receive fractional stocks of publicly traded companies through Cash App.
The campaign started at 10 a.m. on March 31 and will continue until April 13 or the entirety of the million dollars is distributed. The partnership allows Cyrus to empower her fan base while reinforcing Cash App’s mission to make finance more accessible.
This past week, Cyrus has been celebrating the 15th anniversary of “Hannah Montana,” the hit Disney TV series that launched her career. In an Instagram post of a handwritten letter to her pop star alter-ego, Cyrus wrote, “Breathing life into you for those 6 years was an honor. I am indebted not only to you Hannah but to any + everyone who believed in me from the beginning. You all have my loyalty + deepest appreciation until the end.”
Cyrus’ latest album, “Plastic Hearts” debuted at No. 1 on Billboard’s Top Rock Albums chart and is the artist’s sixth No. 1 album. “Plastic Hearts” also reached No. 2 on the Billboard 200, giving Cyrus the most top 10 album debuts on the chart for women artists this century.