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Jay-Z sells half of his exclusive champagne actions to the LVMH luxury group

By hollisterclothingoutlet 15/01/2023 572 Views

Two years ago Jay-Z became the first Hip Hop billionaire and at this time the rapper has not only known how to consolidate his empire, but also expand it.As announced now, Beyoncé's husband has just sold 50% of the owner of his Brignac Champagne, which has had the luxury conglomerate LVMH since 2014."We have been admiring the success of Armand de Brignac for a long time and today we are proud to associate them with them," said Moët Hennessy CEO, Philippe Schaus, in the statement issued by the company on Monday.For his part, the American singer said that “the absolute power of Moët Hennessy's distribution frameneed to grow even more ".The French business group specialized in luxury items, born in 1987 from the fusion of the fashion company Louis Vuitton and the Moët Hennessy distillery, has used the latter to materialize the operation with Jay-Z and added the Armand de Brignac to Brignac toIts alcoholic beverage portfolio.

As indicated by the rapper in the same note, this new fusion is the result of the friendship relationship he maintains with Alexandre Arnault, son of the conglomerate owner, Bernard Arnault.Brignac's champagne, popularly known as Ace of Spades (by the logo, an as of picas of the French card deck, in golden color) has grown in recent years until reaching the figure of 500.000 bottles sold in 2019.The cheapest bottle is around 300 euros and the most expensive can reach 7.000.

The story of Jay-Z and the champagne dates back to 2006, when Frédéric Rouzaud, the company manager who manufactured the then famous foamy glass, was criticized after declaring in an interview what he thought about the popularity of his drinkAmong the rappers."What can we do?We cannot prohibit people from buying it ".His answer did not please many of the personalities of the hip hop world, who like Jay-Z took it as a racist attack and announced a boycott.Months later, the singer introduced into the video clip of his song Show Me What You Got A new golden bottle, this time from Armand de Brignac, produced by the French company Cattier, thus definitely dethroning Crystal.His relationship was further and, in 2014, the singer ended up acquiring the brand that today shares equal parts with the LVMH group.

Jay-Z vende la mitad de las acciones de su exclusivo champán al grupo del lujo LVMH

There is no doubt that it is his most famous asset, since at the end of 2018 he ended the second part of the musical tour he made with his wife, Beyoncé, and after almost four years since his last album (4:44, in 2017), Forbes continues to place the rapper among the richest with an estimated fortune of one billion dollars.Brignac's Armand Champagne is not the only drink he has opted, since part of his assets also arises from his business in the house of Coñac d’Esse.

Aware that his name has an enormous weight in the business field, the rapper born in Brooklyn has managed to sign up for his projects correctly.In 2008 he founded the company Roc Nation, dedicated to the promotion of entertainment and sports events with which he has produced films, video games and music and, since 2019, he is responsible for creating the musical performances of the Super Bowl.He has launched its own line of clothing and fragrances, has designed watches, has an art collection valued at 61 million euros, which includes works by Jean-Michel Basquiat, and is a minority shareholder of the NBA team Los Brooklyn Nets, bywho paid almost four million euros.The heritage of the founder of the Tidal Streaming Music Platform and the one that has become one of the best -selling artists of all time also includes almost 200 million in cash and investments such as a participation in Uber for an estimated value of another 60 millions of euros.

The musician who at 26 began selling his own Cedés and created his record label to launch his first album in 1996, after large companies rejected it, either is left behind in terms of the real estate sector.The birth in 2017 of the twins Rumi and Sir, brothers of the Major, Blue Ivy, nine years old-the three with their registered names to avoid their commercialization-Jay-Z and Beyoncé, who have an attic in the rich neighborhoodfrom Tribeca in Manhattan, they decided to buy other houses.An example of this is the mansion next to the beach that they acquired for 22 million euros on the outskirts of New York, in The Hamptons, and a farm in the reputative urbanization of Bel Air, in Los Angeles, which cost them almost 80 million.

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