As if winning an American Music Awards, 2 BET Awards, 3 Billboard Music Awards, 4 BRIT Awards and being married to “the hottest chick in the game” wasn’t enough, rap titan Jay-Z now owns luxury champagne brand Ace of Spades.
The Brooklyn native first began working with Armand de Brignac (Ace of Spades) in 2006 when he showcased it in his music video for “Show Me What You Got.”
Earlier today, Sovereign Brands revealed Jay-Z’s purchase to the public.
“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.” It is unknown how much the “99 Problems” rapper spent on his purchase.
Jay-Z’s current success is a near 180 degree turn from his somewhat problematic childhood. Born Shawn Corey Carter, Jay-Z grew up in Brooklyn in the Marcy Projects—which he has made famous through his music. The projects were rampant with crime and drug dealing, which the mogul has admitted was one of his first jobs. He used rap as a springboard to catapult him out of Bed-Stuy. He appeared on Yo! MTV Raps in 1989 and from there he never stopped hustling.
He created a music label, Roc-A-Fella Records, in 1996. After selling millions with his label, Jay-Z went on to design his own clothing line.
In 2003, Jay-Z took a break from rapping, but the businessman he had become would not rest. He channeled his efforts into becoming president of Def Jam Recordings. He managed to squeeze in a wedding to Beyonce in 2008.
As his career goes on, there seems to be very little that Jay-Z can’t master. He co-owns the 40/40 Club, founded the sports agency Roc Nation Sports and is a certified NBA and MLB sports agent. After owning a small portion of the Nets and flipping it to sell for over $500,000, the business mogul seems unstoppable.
This year Forbes estimated his net worth to be around $520 million. That’s a long way from the Marcy Projects.