The legal battle between JAY-Z and Bacardi has ended since the music mogul sold his majority stake in cognac brand D’USSÉ for $750 million.
Bloomberg reported that the billion-dollar lawsuit related to Jay-Z’s cognac project was settled after months of arbitration and litigation.
The deal was announced in a press release and required the subsidiary to buy JAY-Z’s 50% stake in the cognac company, leaving Bacardi with 75.01% of the remaining business.
The rapper will continue to have a “substantial interest” through his company SCLiquor LLC. He said in a statement that the project was a “blessing,” adding, “I look forward to renewing this partnership with Bacardi.”
JAY-Z officially partnered with Bacardi to launch D’USSÉ in 2012 to release, with only VSOP and XO available. However, earlier this year, JAY-Z decided the company wanted to buy him out.
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In one lawsuit, he claimed Bacardi molested him and offered him $500 million just when he thought it should be closer to $1.5 billion.
Now, a new agreement says JAY-Z will remain part of the brand because it will “retain a significant interest in the property.”
It looks like D’ussé references will continue to pop up in Jay-Z’s songs, because although Bacardi now controls more than three-quarters of the label, he will “retain a significant interest in ownership,” according to a press release.
It also means we could see some very high-quality bottles launched or auctioned, like this 2021 edition from 1969, celebrating its 50th anniversary (it was sold by Sotheby’s for over $50,000 ).
