Jay-Z sold 50% of Ace of Spades to Louis Vuitton Moét Hennessy Group.
Hip-Hop’s wealthiest rapper Jay-Z just cut a deal with LVMH, owner of Dom Pérignon, for an acquisition of half of the Armand de Brignac Champagne also known as Ace of Spades.
According to the New York Times, neither side would disclose the financial terms of the transaction. But if Jay-Z’s lyrics can be considered appropriate journalistic sourcing (it’s very probable they shouldn’t be), half of Armand de Brignac was valued in 2018 at $250 million. “I’m 50 percent of D’Ussé and it’s debt-free, 100 percent of Ace of Spades, worth half a B,” Jay-Z rapped on “What’s Free,” the Meek Mill track. (D’Ussé is the cognac brand that Jay-Z owns with Bacardi.)
The Ace of Spades deal was initially discussed in the summer of 2019, when Jay-Z hosted a lunch at his house for Bernard Arnault, LVMH’s founder and chairman, and Alexandre Arnault.
The investment from LVMH, which has an all-white leadership team, gives Jay-Z an increased presence in an old, elite, European industry.
Terrell Johnson is the Editor-in-Chief and Founder of SWGRUS.