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Jay-Z has already broken the glass ceiling for Hip-Hop billionaires, but now the business mogul’s net worth has jumped by another 40% following his recently-announced brand deals with Square, Inc. and LVMH. According to Forbes, Jay-Z’s net worth has gone from $1 billion to $1.4 billion just two weeks after he struck deals to sell his music streaming service Tidal and half of his champagne brand Armand de Brignac — better known as Ace of Spades — to elevate his business portfolio. The outlet broke down the Brooklyn entrepreneur’s net worth to highlight his sales from Roc Nation ($140 million), the other half of Armand de Brignac ($320 million), his D’Usse cognac ($120 million), royalties from his music ($95 million), his art collection ($70 million), real estate ventures he shares with his wife Beyoncé ($50 million), and $425 million in cash and investments from his collection of startups including Ethos — an insurance company — and salad chain Sweetgreen. Additionally, Jay-Z also...
Jay-Z, born Shawn Carter, has partnered with French luxury goods conglomerate LVMH, making a major splash in the champagne business. The hip hop billionaire has sold half of his popular beverage company, Armand de Brignac (also known as Ace of Spades) in a deal with LVMH that gives the businessman organizational support and distribution power in exchange for cultural currency, according to New York Times. Investing in celebratory items such as champagne in the midst of a pandemic may seem like a risky business move but he tells NYT that he’s confident in this deal as the market has recovered from its initial decline in revenue and shipment in the beginning of 2020. Carter has proven time and time again that he thinks two steps ahead to stay successful in business. He tells the Wall Street Journal that he’s focused on the company’s growth. “We were working really hard to maintain a brand that was growing faster than the staff we had and bigger than some of the expertise we had,”...
Whether you’re inviting the crew over to turn up on a Friday night or have opted for a quiet night in, alcohol of some sort is most likely in the equation. As stars continue to scale their personal brands, booze has become the go-to entrepreneurial endeavor for many. U.S. alcohol sales rake in about $90 billion annually, and these celebs are getting in on the action. From wine lovers to fine cognac consumers, these celeb-backed alcohol brands are sure to make their way into your cabinets. Jay Z’s Armand de Brignac “Ace Of Spades” Champagne — $300 View this post on Instagram One for the books. #THEBRUNCH #ArmandDeBrignac A post shared by Armand De Brignac Champagne (@armanddebrignac) on Jan 26, 2020 at 9:05am PST Jay-Z was named hip hop’s first billionaire by Forbes in 2019, and much of his net worth can be attributed to his Ace of Spades brand. The Takeout reports that Jay-Z makes nearly five times more from his champagne than music with the brand generating $310 million . He...