Forbes Estimates Jay-Z’s Ace Of Spades Deal
Forbes Estimates Jay-Z’s Ace Of Spades Deal! Jay-Z’s recent deal with the LVMH’s Moët Hennessy, which saw him sell a fifty percent stake of his Armand de Brignac (also known as Ace of Spades) champagne brand, is apparently an extremely lucrative deal for the legendary rapper. According to a report by Forbes, the deal is estimated at a value of over $600 million, which would see Jay-Z net a minimum of $300 million.
After signing the deal, Jay-Z explained what gave him the motivation to partner with Moët Hennessy through a press release. “We are confident that the sheer power of the Moët Hennessy global distribution framework, its unparalleled portfolio strength, and its long-established track record of excellence in developing luxury brands will give Armand de Brignac the commercial power it needs to grow and flourish even further,” he stated.
Forbes says that their valuation of Ace Of Spades places the luxury spirit at an approximated $630 million, with analysts speculating that Jay-Z was set to take home an estimated $315 million. The rapper-entrepreneur already boasts a net worth of over one billion US dollars, making him the first rapper to achieve such a financial milestone, now this recent money move is just one of the many lucrative deals for the entrepreneur. It’s for this reason that the move was celebrated by many of his peers, including Dr. Dre.
Whereas Jay-Z fans are certainly impressed to see him continue to make waves beyond music, many fans are eager to see the Jigga Man come through with a proper follow-up to 4:44. His recent features, ranging from a standout verse on Meek Mill’s “What’s Free” to the recent “What It Feels Like” collab with the late Nipsey Hussle, fans can only imagine the energy he’d bring to his 14th studio album, as and when it lands.
