After months of legal back and forth and general contention, Jay-Z and Bacardi have come to a resolution regarding the rapper’s D’ussé Cognac brand—the drinks company will buy a majority stake reportedly worth about $750 million. Sounds like a nice bit of dirt is off of Jay’s shoulder.
In 2012, Jay-Z (real name Shawn Carter) partnered with Bacardi to launch D’ussé, and the brand has become a cultural phenomenon in the years since as well as a respected Cognac on its own merits. There are only two expressions available, VSOP and XO, both immediately recognizable in their bottles emblazoned with the Cross of Lorraine. But earlier this year Carter decided that he wanted to be bought out of the company, and that Bacardi was legally obligated to do so. The main issue was around money, as it so often is, with Carter claiming in a lawsuit that Bacardi was lowballing him—they offered $500 million, and he believed the number should be closer to $1.5 billion. So yes, there was a bit of daylight in between those figures.
Under the terms of this new agreement, Jay-Z will continue to be a part of the brand, and be close to another billion dollars richer than he already is. A recent press release tried to paint a shiny, happy picture on the outcome for all parties involved (and that may indeed be the case, as the Cognac brand is the best performing in the category according to IWSR Drinks Market Analysis from 2021). “Growing D’ussé over the past decade from an idea to one of the fastest-selling spirits in history has been a blessing,” said Jay-Z in a statement. “The next phase of this journey will further cement D’ussé’s legacy as one of the world’s most respected brands. I am excited to renew this partnership with Bacardi.”
It looks like D’ussé mentions may continue to work their way into Jay-Z songs, because although Bacardi now controls more than three-quarters of the brand he will “retain a significant ownership stake,” according to a press release. That also means we might see some more extremely high-end bottles hitting the market, or coming to auction, like the 2021 release of a 1969 vintage in celebration of his 50th birthday (it sold for more than $50,000 via Sotheby’s). As Hov made it very clear almost 30 years ago, you can’t knock the hustle.
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Jonah Flicker
Flicker is currently Robb Report's whiskey critic, writing a weekly review of the most newsworthy releases around. He is a freelance writer covering the spirits industry whose work has appeared in…
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Jay-Z Sells His Controlling Stake in D'usse Cognac, Ending His Legal Dispute With Bacardi. After months of legal back and forth and general contention, Jay-Z and Bacardi have come to a resolution regarding the rapper's D'ussé Cognac brand—the drinks company will buy a majority stake reportedly worth about $750 million.
What is the Jay-Z Bacardi dispute? ›
The lawsuit claims Bacardi had been minimizing production and distribution of the cognac on purpose as an attempt to reduce the price it would pay to purchase Jay-Z's stake. During the court fight, information came out that Jay-Z made an offer for a Bacardi buyout that valued his half of the business at $1.5 billion.
Does Jay still own Dusse? ›
As reported by TMZ, earlier this year he sold his 50% stake of his D'USSÉ cognac back to its parent company Bacardi for a reported $750 million. Even after the sale, he still owns a sizable portion of the company according to the outlet. Article continues after video.
How much did Jay-Z settle with Bacardi? ›
JAY-Z's legal dispute with Bacardi has come to an end since the music mogul has sold his controlling stake of the D'USSÉ Cognac brand for $750 million USD. Bloomberg reports that the multi-billion dollar lawsuit over his cognac venture has been resolved after months of arbitration and litigation.
Is Dusse owned by Bacardi? ›
D'Ussé is a brand of cognac made at the Château du Cognac in Cognac, Nouvelle-Aquitaine, France. It is a subsidiary of Bacardi. D'Ussé produces just two cognacs: D'USSÉ VSOP and D'USSÉ XO. D'Ussé VSOP is aged at least four and a half years in the Château de Cognac cellars.
Why Jay-Z sues Bacardi? ›
The business ownership dispute began when Jay-Z proposed an agreement for Bacardi to buy out his interest. The controversy centered around Jay-Z's valuation of the company and Empire's refusal to turn over vital financial records.
Is Jay-Z the owner of Hennessy? ›
Jay-Z is expanding his empire. The rapper and entrepreneur announced on Monday that he had sold 50 percent ownership of the Armand de Brignac champagne he has owned since 2014 to luxury brand Moët Hennessy Louis Vuitton.
How rich is the Bacardi family? ›
The family's holdings are worth about $19 billion, according to calculations by the Bloomberg Billionaires Index. Bacardi is a frequent subject of speculation that it may pursue an initial public offering. “They have some of the biggest brands in the world,” said Duncan Fox, a Bloomberg Intelligence analyst in London.
How much of Dusse does Jay-Z own? ›
Bacardi has reached an agreement to take over the majority shareholding of the D'Usse Cognac brand, resolving a lengthy legal battle with US rap star Jay-Z. The transaction – announced on Friday (3 February) – will see Bacardi buy out a majority of Jay-Z's 50% stake in the Cognac company.
How rich is Jay-Z now? ›
As of November 2023, Jay-Z has a net worth of $2.5 billion, according to Forbes. 2 Together, Jay-Z and his superstar wife Beyoncé have a combined net worth of about $3 billion.
In 2012, Jay-Z (real name Shawn Carter) partnered with Bacardi to launch D'ussé, and the brand has become a cultural phenomenon in the years since as well as a respected Cognac on its own merits.
What rapper owns Dusse? ›
In 2012, Jay-Z (real name Shawn Carter) partnered with Bacardi to launch D'ussé, and the brand has become a cultural phenomenon in the years since as well as a respected Cognac on its own merits.
What does the D USSE symbol mean? ›
It is France's fabled emblem of courage, honor, and preseverance. Today, it is the only icon that could represent our march forward to create a new legacy.
What cognac is black owned? ›
About: D'USSÉ Cognac was founded by Shawn “JAY-Z” Carter and aims to be the modern expression of Cognac, standing for integrity, boldness, freedom and the elevation of authenticity. The result is a unique cognac that begins with distinguished intensity and finishes pleasantly smooth and balanced.
Is Dusse a good cognac? ›
D'USSÉ V.S.O.P is less bold than other VSOP's like Hennessy's Privilège or Martell's Medallion. D'USSÉ V.S.O.P, however, is not a lightweight starter cognac. It does have the complexity one might expect from a V.S.O.P. and makes for excellent sipping with a complex nose and palate.
What is the Bacardi family controversy? ›
At odds with Bacardi's carefree image, the investigation details how a member of the Bacardi family was involved in plots to overthrow the Cuban government in the 1960s. It also alleges that some members of the Bacardi family supported economic sanctions against Cuba, a policy blamed for leaving thousands in poverty.
What were the charges against Jay-Z? ›
After the incident, the 53-year-old businessman turned himself into the New York Police Department. Although he maintained his innocence, authorities arrested JAY-Z for felony assault charges. Following a lengthy legal battle, JAY-Z pled guilty in 2001 and received three years probation.
Why was Bacardi kicked out of Cuba? ›
In his book, Bacardi and the Long Fight for Cuba, Tom Gjelten describes how the Bacardí family and the company left Cuba in exile after the Cuban government confiscated the company's Cuban assets without compensation on 14 October 1960, particularly nationalizing and banning all private property on the island as well ...
What happened to the Bacardi family? ›
This same year, the prophecy of El Coco becomes a reality when, 98 years since it was first planted by the family outside the Bacardi distillery in 1862, the beloved palm withers and dies. The Bacardí family remains strong, though many are forced to flee the island in exile.
