The popularity and strong sales of Ace of Spades helped boost Jay-Z’s fortune to $1 billion by 2019, earning him Forbes recognition as the first hip-hop artist to reach the 10-figure milestone. Later that year, Jay-Z debuted his champagne brand by featuring its signature gold bottle in his 'Show Me What You Got' video. At the time, the Brooklyn-born mogul called for a boycott from Cristal champagne after CEO Frédéric Rouzaud said, 'What can we do? We can't forbid people from buying it,' in response to being asked about the brand’s popularity among rappers at the time. Jay-Z’s journey with Ace of Spades began in 2006, a year after he signed Rihanna to her first record deal.

There’s got to be something authentic about it.” “But I don’t think it works for every celebrity. “With celebrity association, particularly in the earlier years, the valuation of a company could be higher by three to seven times,” says food and beverage marketing consultant Arthur Gallego. The value of her stakes in both businesses totals $530 million. LVMH struck an earlier deal with Jay-Z protégé Rihanna in 2017 to launch Fenty Beauty, and most recently invested indirectly in her lingerie line Savage x Fenty earlier this month.

Plenty of other pop stars have followed suit, not just selling out or selling stakes but often partnering with global giants. Dre sold his audio product company Beats to Apple in 2014 for $3 billion, pocketing $585 million himself before taxes. Still, it’s not the biggest celebrity cash out by a long shot: Kylie Jenner sold 51% of her cosmetics company to Coty in a deal that valued the brand at more than $1 billion she got $540 million pre-tax. “The multiples for Armand de Brignac-based on the category and volume size of the brand-far outreach brands that don’t have that celebrity ownership,” says beverage market analyst Eric Schmidt.

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