Jay-Z Just Made Millions Selling the Champagne Company He Started Out of Spite

Jay-Z used to glamorize Cristal in his songs.

Then one day, Cristal said they wanted to “disassociate” their brand from the rapper.

So what did Jay-Z do?

He started his own champagne brand, Armand de Brignac, widely known as “Ace of Spades” because of its logo.

Jay-Z just sold Ace of Spades for a rumored $250 million to LVMH Moët Hennessy.

Jay-Z has sold 50% of his champagne brand Armand de Brignac (Ace of Spades) to LVMH.

After buying the company in 2014 for ~$30M, Jay-Z increased annual sales from 60k to 500k bottles in 2019.

Ace of Spades costs ~$13 to make but sells for $225 at wholesale — a 94% profit margin pic.twitter.com/9s0K3u4ICW

— Joe Pompliano (@JoePompliano) February 22, 2021

What an incredibly baller move.

A company you promote for free doesn’t want your hype, so you start your own company and make millions.

Unreal “Only in America” type of success story here from Jay.

"It's a happy day and I feel very vindicated from that time," said Jay-Z.

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JAY-Z on teaming up with @MoetHennessy

"We aligned in our thoughts of integrity and passion for the things that we build" pic.twitter.com/ASWIjgYdMp

— JAY-Z Daily (@JAY_Z_Daily) February 22, 2021

It’s like seeing Larry David’s spite store in real life.

From Season 10, Episode 10 - The Spite StoreAired on HBO: 2020.03.22 Latte Larry's is featured on the Today Show.This highlight clip is intended for fans who...

Epic.

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