Jay Z Buys Ace of Spades Champagne Brand
Tanay Hudson (@NYStateOfMind2)
Besides being one of the top emcees in hip-hop, Jay Z has worked hard to become an exceptional businessman and invest in businesses that he likes. Jigga has made his love for the champagne Armand de Brignac, better known as Ace of Spades, well known and yesterday (Nov. 5) he put his money where his mouth is and bought a piece of the company.
In a statement, Sovereign Brands announced that they turned their interest in the company over to Hova.
"We are proud to announce that Sovereign Brands, a New York-based wine and spirits company owned by the Berish family, has sold its interest in the Armand de Brignac ('Ace of Spades') Champagne brand to a new company led by the globally-renowned Shawn 'Jay Z' Carter."
Jay made this purchase for an undisclosed amount. The brand is reportedly worth between $25 and $30 million.