Just a day after Beyonce was named #1 on Forbes 2014 top-earning women in music list... looks like her husband Jay-Z has made it even harder for other power couples to reach their level. Jay added another
business under his belt that has everyone talking! Get the scoop below…
Bloomberg News-
Rapper Shawn “Jay Z” Carter has
bought an interest in the Armand de Brignac Champagne line owned by Sovereign
Brands, a closely held wine and liquor company based in New York
that is widely known by the name “Ace of Spades.”
The
brand, which Jay Z has previously promoted in his music and public appearances,
is known for its metallic bottles, which are made by hand at the Cattier
family’s 251-year-old chateau in Chigny-les-Roses, France.
They feature a pewter insignia of an ace of spades rather than a paper label. Prices
start at about $250 a bottle in the stores but try to get it in a nightclub and
it could run you anywhere from around $500 to even $250,000 a bottle, depending on the
brand and size!
The move
marks the latest business venture for Jay Z, who has invested in a record
label, restaurants, clothing and a talent agency. He also owned a stake in the New Jersey Nets until last year. He’s one of several
rap stars who have leveraged their celebrity to become entrepreneurs. Andre
“Dr. Dre” Young sold his Beats headphones brand to Apple Inc. earlier this year
for $3 billion. Curtis “50 Cent” Jackson, meanwhile, had an interest in the
Glaceau water brand.
Armand de
Brignac has been a staple in high-priced packages at nightclubs. At Hyde, a
club at MGM Resorts International’s Bellagio in Las Vegas,
a package that included a 30-liter bottle of the Champagne and the right to
turn on the casino’s musical fountains cost $250,000.
Armand de Brignac released a collector’s package
last year that included every one of its nine bottle sizes from 750-milliliter
to the 30-liter “Midas,” the equivalent in total of 109 standard bottles. It
sold for $500,000 at MGM’s Hakkasan nightclub in Las Vegas.
Jay Z
once promoted Cristal Champagne in songs, though he stopped in 2006 after the
company that owns the brand made negative comments about hip-hop culture.
In
announcing in the transaction yesterday, Sovereign didn't provide financial
terms. Jana Fleishman, a spokeswoman for Jay-Z, said the rapper wasn’t
available to comment.
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