High-earning Hov is what you should call him.
Last week Jay-Z announced his new partnership with LVMH’s Moët Hennessy brand. In his latest venture, Hip-Hop’s first billionaire sold half of his Armand de Brignac (Ace of Spades) champagne brand to LVMH.
“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.
Back in 2018, Jay-Z stated that his Ace of Spades brand was worth half of a billion dollars on Meek Mill’s “What’s Free.” In Forbes’s most recent evaluation of the brand, it is set at roughly $630 million. As a result, the Roc Nation founder is set to pocket $315 million. Either the Armand de Brignac brand has increased its value, or Hov miscalculated its half of billion-dollar worth. Whether or not he did is irrelevant. The impressive nature of its worth makes the LVMH even more potent.
Jay-Z received congratulatory messages from two of his peers in Diddy and Dr. Dre. The three Hip-Hop pioneers have all spearheaded some of the biggest brand deals outside of their musical legacies.
