The music mogul and rapper Jay Z purchased one of the flashiest champagne company named Armand de Brignac. The company is particularly renowned for selling its shiny bottles for about $300 each.
The champagne is also known as “Ace of Spades” and is crafted and marketed by a family-run vineyard in France that dates back to 1763. Surprisingly the company employs few than 20 people. The owner of the brand which is a New York based sovereign brand confirmed the sale. The price of the deal has not been disclosed to the public.
Originally named Shawn Corey Carter, Jay Z has been favouring the champagne brand for a long time and is often pictured with one. It all started back in 2006 when Jay Z stopped sipping his previously favourite brand Cristal due to an economist publishing disparaging comments from the head of the company, Frederic Rouzaud. When Rouzaud was asked if hip-hop artists were tarnishing his high-end brand by the economist, he responded by saying, “What can we do? We can’t forbid people from buying it.” This led Jay Z to switch to Armand de Brignac.
The rapper wrote in his book named Decoded, “We used their brand as a signifier of luxury and they got free advertising and credibility every time we mentioned it. We were trading cachet. But they didn’t see it that way.”
The 49-year old rapper has a lot of business interest in the field of fashion, entertainment and sports apart from music. Forbes ranks him among the most powerful celebrities in the world alongside Oprah Winfrey and LeBron James. Also his wife, Beyonce tops the Forbes ranking as the top earning woman in the music industry. Jay Z has a net worth of US $900 million as of 2018. But the numbers are definitely going to expand as they belong to such an ambitious man.