NEW YORK CITY, NEW YORK: Jann Wenner, full name Jann Simon Wenner, is the co-founder and publisher of Rolling Stone magazine, and his net worth is reported to be $700 million, per The Richest. He also currently owns Men's Journal and US Weekly.

The 77-year-old magazine magnate co-founded Rolling Stone with his mentor Ralph J Gleason in 1967.

Wenner steered the publication to 14 National Magazine Awards in the categories of general excellence, design, photography, visual excellence, specialized journalism, feature writing, and reporting.

The publication leads American journalism today, providing millions of readers with news on music and current cultural trends.

However, the magazine tycoon is in the news for being kicked off the Rock and Roll Hall of Fame board due to his provocative remarks.

Why was Jann Wanner removed from Rock and Roll Hall of Fame board?

Wenner, who also served as a co-founder of the Rock and Roll Hall of Fame, was kicked off the board of directors for his remarks that were perceived as disparaging Black and female musicians.

The Rock and Roll Hall of Fame Foundation announced on Saturday, September 16 that Wenner had been dismissed from the board a day after his remarks were made public in an interview with the New York Times.

The issue arose from an interview Wenner gave to promote his new book, 'The Masters', which includes interviews with white and male musicians such as Bob Dylan, Jerry Garcia, Mick Jagger, John Lennon, Bruce Springsteen, Pete Townshend, and U2’s Bono.

What did Jann Wanner say?

Wenner answered a question about why he didn't interview women or Black musicians, saying, "It’s not that they’re inarticulate, although, go have a deep conversation with Grace Slick or Janis Joplin. Please, be my guest," he told The Times.

"You know, Joni [Mitchell] was not a philosopher of rock’n’roll. She didn’t, in my mind, meet that test."

"Of Black artists – you know, Stevie Wonder, genius, right? I suppose when you use a word as broad as 'masters,' the fault is using that word. Maybe Marvin Gaye, or Curtis Mayfield? I mean, they just didn’t articulate at that level," Wenner added.

Wenner seemed to be aware in the discussion that he would encounter criticism. "Just for public relations' sake, maybe I should have gone and found one Black and one woman artist to include here that didn’t measure up to that same historical standard, just to avert this kind of criticism."

Jann Wanner apologizes for his remarks

The Rolling Stone co-founder reportedly apologized shortly after being kicked off the board of the Rock and Roll Hall of Fame Foundation, per Deadline.

The publisher of Wenner's book released the statement from Wenner late Saturday that reads, "In my interview with The New York Times, I made comments that diminished the contributions, genius, and impact of Black and women artists and I apologize for those remarks."

He went on, "The Masters is a collection of interviews I’ve done over the years that seemed to me to best represent an idea of rock ’n’ roll’s impact on my world; they were not meant to represent the whole of music and its diverse and important originators but to reflect the high points of my career and interviews I felt illustrated the breadth and experience in that career."

"They don’t reflect my appreciation and admiration for myriad totemic, world-changing artists whose music and ideas I revere and will celebrate and promote as long as I live," he noted.

"I totally understand the inflammatory nature of badly chosen words and deeply apologize and accept the consequences," he added.