Jay Z‘s champagne of choice is now part of his portfolio. The rapper and entrepreneur extraordinaire has purchased the gilded Armand de Brignac (nicknamed “Ace of Spades”) brand of bubbly, which retails for $300 a pop but can go as high as $200,000 — if you like 30-liter bottles made of gold. A new company led by Jay Z, real name Sean Carter, acquired the brand from New York-based Sovereign Brands, which announced the sale this week.
“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,” the company said in a statement.
Terms of the deal — as well as the name Jay’s new company — were not disclosed, but spokesperson for Sovereign told the New York Times in an emailed statement that the Brooklyn native “made us an offer we simply couldn’t refuse.” A representative from Jay Z’s Roc Nation did not return a request for comment at press time.
The best-selling artist, label owner, entertainment mogul, sports agent and now-champagne maker is reportedly worth over $500 million, according to Forbes.
Fans of Hova will remember how he brushed off a bottle of Cristal in favor of some “gold bottles of that ace of spade” in the video for his 2006 single, “Show Me What You Got.” He also famously set up a tower of 350 bottles of the stuff at a 2013 fundraiser for President Barack Obama at Manhattan’s 40/40 Club, a chain of clubs that Jay Z owns. Also, during his time as part-owner of the Brooklyn Nets he made Armand de Brignac available at a champagne bar accessible to super-luxury box owners.
It took two forces of nature to get Eminem to New York City on Wednesday night. The rapper made a surprise appearance at WSJ. Magazine‘s fourth annual Innovator Awards at MoMA in order to honor two very important people in his life: Dr. Dre (born Andre Young) and Jimmy Iovine.
“Dre and Jimmy are like a force of nature,” he said in his introduction, reading from note cards. “As an example of how powerful they are, they got me to fly here all the way from Detroit to speak publicly. And I really hate public speaking.”
Iovine and Dre were honored at the star-studded event for their years of entrepreneurship, having founded Beats — which was purchased by Apple for $3 billion — and recently launching the Jimmy Iovine and Andre Young Academy, a program devoted to arts, technology and innovation at the University of Southern California.
“When Jimmy and Dre put their minds to something, get on board or get the fuck out of the way,” Eminem said, according to WSJ reporter Elizabeth Holmes.
And put their minds together they did back in 1997, when staffers at Interscope records sent Em’s Slim Shady EP to Iovine, the label’s CEO, who then played it for Dre. The rest is history, or as Eminem put it at the WSJ event, “They saw my potential.”
A round of layoffs has hit Capitol Music Group, sources have confirmed to Billboard.
A source with knowledge of the situation tells Billboard that a dozen staffers were let go today (Nov. 6) as part of a restructuring at Capitol Music Group. Those twelve include J.R. Rich, Gihan Salem, Heidi Anne-Noel, Leslie Hermelin and Lucy Robinson, all members of the company’s various publicity departments.
Of Anne-Noel, who had been representing Katy Perry for seven years, Direct Management Group’s Martin Kirkup says: “Heidi Anne-Noel has been Katy Perry’s stellar publicist at Capitol Records ever since Katy signed there in 2007, and a key member of the Team that broke her with the One of the Boys album in 2008, and took her to massive success with Teenage Dream and PRISM. She is one of the finest PR people we have ever had the pleasure of working with.”
The restructuring is part of a continued evaluation of the company under chairman Steve Barnett, which began in late 2012 with Barnett’s appointment to the top spot. Additional hires are expected in the coming weeks and months.
T-Pain shows no signs of slowing down as he drop his brand new record called Stoicville. This is track will serve as the into to his upcoming album titled Stoicville due out sometime next year.
Big K.R.I.T. wastes no time with the drop of his latest visual for Cadillactica directed by Matt Swinsky. Big K.R.I.T. upcoming album titled Cadillactica is due out in stores on November 11th.