Jay-Z took on another business venture when he purchased ‘Ace of Spades’ champagne. Hov is no stranger to the brand being that he raps about them and shows off the product as if he already had an endorsement deal with the company.
‘Ace of Spades’ is known for its metallic bottles, which are made by hand at the Cattier family’s 251-year-old chateau in Chigny-les-Roses, France. They feature a pewter insignia of an ace of spades rather than a paper label. Prices start at about $250 a bottle and the brand in its entirety is worth between $25 million and $30 million.
The high end champagne generates annual revenue of $13.5 million and using an industry multiple of 2.1 times sales would make Armand de Brignac worth $28.3 million. Even a three-way split at the time among Cattier and Sovereign as co-owners and Jay-Z as unofficial hawker it would deliver more than $4 million a year to each participant.