TMZ reports that Damian is 1 of 20 new investors in the ownership group that bought a controlling interest in the media company behind HT, which is valued around $70 million.
It's the first time the magazine changed ownership since it was founded in 1974.
According to TMZ, High Times' new ownership group plans to do more live events. It already puts on the popular Cannabis Cup shows.
On why he invested in the marijuana publication Damian who's producing his own line of weed as co-founder of Stony Hill says reading High Times taught him how to differentiate between male and female cannabis plants.
"High Times had me daydreaming of so many beautiful strains that at the time I had not yet had the chance to experience."