There’s got to be something authentic about it.” “But I don’t think it works for every celebrity. “With celebrity association, particularly in the earlier years, the valuation of a company could be higher by three to seven times,” says food and beverage marketing consultant Arthur Gallego. The value of her stakes in both businesses totals $530 million. LVMH struck an earlier deal with Jay-Z protégé Rihanna in 2017 to launch Fenty Beauty, and most recently invested indirectly in her lingerie line Savage x Fenty earlier this month. Plenty of other pop stars have followed suit, not just selling out or selling stakes but often partnering with global giants. Dre sold his audio product company Beats to Apple in 2014 for $3 billion, pocketing $585 million himself before taxes. Still, it’s not the biggest celebrity cash out by a long shot: Kylie Jenner sold 51% of her cosmetics company to Coty in a deal that valued the brand at more than $1 billion she got $540 million pre-tax. “The multiples for Armand de Brignac-based on the category and volume size of the brand-far outreach brands that don’t have that celebrity ownership,” says beverage market analyst Eric Schmidt. Neither side would comment, but based on analyst estimates, Jay-Z likely pocketed at least $315 million in the deal. The terms of the deal have not been publicly reported by LVMH or Jay-Z, whose company will still handle production. That’s double Forbes’ previous valuation of the brand. LVMH is known to bid competitively, and that certainly appears to have been true for this latest deal.įorbes values 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, at roughly $630 million, based on conversations with five beverage analysts and industry insiders. The founder of RocNation 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,” according to Moet’s CEO Philippe Schaus. The deal appears to have valued the brand, Armand de Brignac, at more than $600 million, which would land him a cash payment of at least $300 million-about $50 million more than he would have made based on the $500 million value he rapped about in Meek Mill’s 2018 song “What’s Free.” The partnership announced on Monday between Jay-Z and the wine and spirits division of LVMH makes the billionaire rapper the latest celebrity to pocket a windfall by selling part of a consumer brand to a major distributor. the rapper was supported by his beloved wife, Beyonce.It turns out Jay-Z’s luxury champagne brand is worth more than “half a B.” Finally, he agreed to meet Adness Reeves and to forgive him. There’s also another version, that Shawn developed “Jay Z” from the nickname “Jazzy” his friends gave to him for his love to music.įor many years Jay Z didn’t talk to his father at all. Probably the rapper chose his stage moniker, having combined these two letters. In his region there were two train routes, J and Z. Jay Z was brought up in Marcy Projects (New York), where he flirted with drugs and physical violence. Gloria Carter worked as a bank clerk and she tried her best to provide her children for food and cheap clothes. “For me it was the end of our friendship”, Jay used to tell later. When the boy was 12, he suffered from his father leaving their family. He is the youngest of four children in the family of Gloria Carter and Adness Reeves. The early life of “special” Shawn Corey Carter was quite complicated.