Jay Z Buys a Champagne Company, But What Else Does He Own?
For normal people, liking a brand of champagne generally means faithfully buying bottles from the brand for parties or special occasions (or, you know, a night in with you and your Netflix account — hey, I don't judge). For someone with the wealth of Jay Z, however, it means actually buying the brand. According to the New York Post, Jay Z has purchased "an indeterminate chunk" of the "Ace of Spades" champagne brand — also known as "Armand de Brignac" — which is one that he's reportedly been "long associated" with throughout his career thanks to its decadence (it's $300 a bottle) and, I'm sure, it's deliciousness. The sale was confirmed by the New York-based company that owns the champagne, Sovereign Brands.
(Would it be too obvious to make a "he liked it so he put a ring on it" joke here? Eh?)
Of course, this isn't the first company that Jay Z has gone ahead and purchased in an effort to expand his empire — Jay Z has long been an entrepreneur for about as long as he's been a rapper, and he already had a considerable amount of companies and products in his possession long before he went ahead and bought Armand de Brignac. For instance:
This is perhaps one of Jay Z's most famous investments. It's a New York-based chain of sports bars that has locations in NYC, Barclays Center in Brooklyn (which Jay Z also had a $1.5 million stake in until late 2013), and at Hartsfield-Jacksons airport in Atlanta. It's famous for its celebrity clientele, as well as the fact that Jay Z reps it in many of his songs — including "Dirt Off Your Shoulder."
Jay Z is a co-founder of this clothing brand, and he sold it to Iconix Brand Group (owner of Candie's and Joe's Boxers) back in 2007 for a cool multi-million dollar deal.
Jay Z owns this major entertainment conglomerate, which deals with investment opportunities around the world. I have a feeling this is what Tom really wanted Entertainment 720 to be in Parks and Recreation, but it never quite got there because he spent more money on office space than, you know, actual investments. It also has a recently created sports division, which represents athletes.
Though the company recently filed for bankruptcy, Jay Z — as well as Will Smith and Jada Pinkett-Smith — were reported to have invested in the all-natural beauty company during its hey-day in the mid-2000s.
Brooklyn Nets NBA Team
Along with his stake in Barclays Center, Jay Z also paid a significant chunk of change to be part-owner of the Brooklyn Nets NBA Team through his entertainment company, Roc Nation. In 2013, Jay allegedly gave up his ownership stake in the team so that he could ultimately represent players as an agent.