This Is How Much Jay-Z Made On His Ace Of Spades Deal With LVMH!
This Is How Much Jay-Z Made On His Ace Of Spades Deal With LVMH! It was announced last month that Jay-Z had sold a 50% stake of his champagne company to LVMH. According to Forbes, Armand de Brignac was valued around $600 million at the time the deal was made. This means that the Hip Hop mogul received about $300 million from the partnership.
According to Moet’s CEO Philippe Schaus, Jay-Z sold 50% of the champagne business to LVMH’s Moët Hennessy in a move aimed at “taking the business to new heights across the world.” The terms of the deal have not been publicly reported by LVMH or Jay-Z, whose company will still handle production. This partnership will likely be instrumental to the value of the Armand de Brignac champagne brand in the future as the deal will give it a boost in distribution and commercial success.
The popularity and strong sales of Ace of Spades helped boost Jay-Z’s net worth to $1 billion by 2019, earning him Forbes recognition as the first hip-hop artist to reach the billionaire status. The latest deal will likely bump that figure up, while leaving him with other assets to monetise, including Roc Nation’s entertainment business, music streaming service Tidal, an athlete representation agency, his master recordings and music publishing rights, and a second liquor brand, D’usse.
According to Forbes the value of the deal for the bubbly wine, known by its nickname Ace of Spades thanks to its logo design and several of Jay-Z’s lyrics promoting it, is at roughly $630 million, based on conversations with five beverage analysts and industry insiders. That’s double Forbes’ previous valuation of the brand. Neither side would comment, but based on analyst estimates, Jay-Z likely walked away with at least $315 million in total.
Armand de Brignac, colloquially known as the “Ace of Spades” after its logo, is the name of the tête de cuvée Champagne brand produced by Champagne Cattier and sold in opaque metallic bottles. The brand’s first bottling, Armand de Brignac Brut Gold, is identifiable by its gold bottle with French pewter Ace of Spades labels.
