Jay-Z Has Over $2 Billion After Selling Majority Stake In D’Usse Cognac

Jay-Z, At the beginning of the year, the rapper’s fortune rose to US$ 2.5 billion, which represents R$ 12.9 billion in Brazil. The value of the singer’s fortune rose four years after he entered the ranking of the American Forbes billionaires list. He boosted his position on the list after selling the majority stake he had in D’Usse cognac.

Jay-Z

The singer and entrepreneur finalized a legal dispute with Bacardi over the aforementioned cognac brand, D’ussé Cognac, last month. Jay-Z sold his stake to Bacardi for US$ 750 million (R$ 3.9 billion) and the company got the 75.01% share of the negotiation. It also explains how the rapper’s fortune has grown due to his participation in the champagne, D’Usse cognac and Armand de Brignac industries.

The Bacardi company partnered with the singer for the first time on the launch of D’ussé Cognac a little over 10 years ago, which shows how long their relationship in business was. And even though he no longer has a majority stake in the company, he managed to keep “a significant share” through its company SCLiquor LLC, according to a press release.

_{D’usse cognac also has a small signature of the rapper (Photo: Reproduction/Globo)}

Jay-Z also canceled his participation in music streaming Tidal two years ago, which means it is not the first time that the rapper has made sales deals involving his works. When he disposed of his music streaming stake, it was based on a $350 million deal between the singer and Square.

The updated Forbes Real Time Index shows that the singer is the 1,207th richest person in the world, “even in a year without touring or album release”, stated the index. He was also named the first billionaire rapper in 2019 by Forbes, who characterized it as a “extensive and diverse empire” the singer’s portfolio.

Featured photo: Rapper Jay-Z had his fortune increased after selling D’usse cognac. Playback/Rap.ua.