They do not own it. If I sell non-voting shares you have nothing to say. If I sell debt, you have nothing to say. If I'm extended a line of credit for a particular endeavor, they have nothing to say. And those are just normal commercial solutions, there's a long range of solutions. Like I said above, it's completely different ballparks for an independent Dame Dash movie shot with an iPhone and if Live Nation is giving you 50M down your pocket and 100M in investments and all their support with no strings attached except it being 10 years, 3 albums and 30 % of the profit.I don't mean they own it legally, but they are essentially in control. If someone else put the money up for your endeavor (business or otherwise) and they want you/don't want you to do certain things, guess who's decision is ending up final? Particularly when/if you need continued financing.
It's a control vs. risk argument, and that just goes to whatever your personality is when it comes to what is the better/smarter play.
Now could Jay put up 150 himself? Probably not, could he get by without the partnership of Live Nation for his ventures? Probably, but not as swiftly.
All those concert streaming things for example are most likely due to LN.
There's a range of finance options when you are on that other level, and partnerships are often a very good thing. Look at Dame's motor oil for example, he buys it from a dude in BK and puts his stickers on them. That's just another form of partnership, at any given day that dude can decide that he doesn't want to sell it to Dame or that he wants to change the blend, size of the bottle, tell him if he doesn't change the name of the oil he won't sell it to him or whatever. Everything depends on the terms you negotiate.