LVMH (Louis Vuitton Moët Hennessy) has acquired a 50% stake in Jay-Z's champagne brand Armand de Brignac, home to Ace of Spades. The New York Times estimates the deal, which Hov announced on CNBC Monday morning, to be worth upwards of $250m.
Beyond bubbly, the Roc Nation founder continues to expand his business portfolio with recent endeavors in cannabis and cryptocurrency as well as his partnership with the NFL.
Jay-Z is also a candidate for the Rock & Roll Hall of Fame this year—if inducted, he'll become the first living solo rapper to enter the Rock Hall.
"We aligned in our thoughts of integrity and passion for the things that we build," says Shawn "Jay-Z" Carter on teaming up with @MoetHennessy pic.twitter.com/7zmCvzgHHX
— Squawk Box (@SquawkCNBC) February 22, 2021
Shawn JAY-Z Carter is pleased to announce a partnership with Moët Hennessy as they acquire a 50% stake in Armand de Brignac. The partnership reflects a shared vision between Moët Hennessy and Shawn JAY-Z Carter for the future of this iconic Maison. https://t.co/LHmQd0s7Dh pic.twitter.com/irRyziwZYs
— Roc Nation (@RocNation) February 22, 2021
