Jay-Z’s deal with LVMH’s Moët Hennessy has turned out to be a lucrative decision for the Hip Hop mogul. According to Forbes, the rapper’s decision to sell 50% of his Ace Of Spades champagne brand, also known as Armand de Brignac, netted him a minimum of $300 million.
The financial magazine valued the deal at $630 million with Jay-Z reportedly pocketing $315 million. The deal was praised by Dr. Dre, who was also featured in the article for $585 million he earned from his $3 billion deal with Apple.
Jay-Z’s relationship with Ace Of Spades started in 2006, after previously calling for a boycott from Cristal champagne. At the time, Cristal CEO Frédéric Rouzaud projected a dismissive attitude when asked about the brand’s popularity among rappers. Later that year, Jay-Z debuted his champagne brand in his “Show Me What You Got” video.
Source: Forbes
