Divorce

The massive selling of assets by the permanent A list rapper/mogul is in preparation for a divorce.

Jay-Z

Beyonce

Jay-Z sells stake in champagne brand to luxury giant LVMH

For American music mogul Jay-Z, who has boasted of having a “million ways to make money” it looks like it may now be “on to the next one”.

French luxury giant LVMH has purchased a 50% stake in his Armand de Brignac champagne brand, known to fans of his music by its “Ace of Spades” nickname.

Branded with an ace of spades and sleek metallic bottles, the drink can cost hundreds of pounds a bottle or more.

The rapper, whose given name is Shawn Carter, has owned the brand since 2014.

Made at a French winemaking house with roots in the 1600s, Armand de Brignac has been the bubbly of choice for some sports championship celebrations in the US and won accolades at international taste testing competitions.

The brand sold 900,000 bottles in 2019, before the pandemic hit champagne sales. – Source

Square (Jack Dorsey’s OTHER Company) Is Buying Tidal From Jay-Z For $300 Million

You probably know Jack Dorsey as the co-founder and CEO of Twitter. But! As we detailed last week, roughly 85% of Jack’s net worth actually comes thanks to his OTHER company, Square. Square is a mobile payment processing company. If you’ve ever bought lunch from a food truck or shopped at a flea market, you probably swiped your credit card in a Square widget connected to the merchant’s iPhone. And if you think that’s a small business, you are wrong. For perspective, Twitter has a total market cap of $56 billion. Square’s market cap is $103 billion. Jack owns around 13% of Square and less than 2% of Twitter. And through Square, Jack is about to own the majority of Jay-Z’s music streaming service Tidal. The purchase will also elevate Jay-Z to Square’s board of directors.

Earlier this morning Jack announced (via a series of Tweets) that Square was acquiring a majority ownership in Tidal. The reported purchase price is $297 million in cash and stock. – Source