JAY-Z has cemented his lead as the world’s richest rapper with a net worth of $2.5 billion.
The new figure is reportedly due to money for Armand de Brignac champagne and D’Usse cognac, a business venture that belonged to the rapper, until recently.
Interestingly, this increase in wealth comes without Hov, as he is often called, releasing a new album or going on tour.
In February, it was announced that JAY-Z had reached a settlement in his legal battle with D’USSE.
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According to Bloomberg, HOV and Bacardi managed to settle a multi-billion dollar lawsuit that saw the Brand buy Jay’s stake in the company for $750 million. However, the rapper is said to retain a “significant interest,” indicating the acquisition of JayZ’s majority stake while he retains a minority stake within the company.
JAY said in his statement, “Growing D’USSÉ over the past decade from an idea to one of the fastest-selling spirits in history has been a blessing,”
According to TMZ, JayZ and Bacardi’s partnership began in 2011, and Hov intended to take over all of D’Usse’s books, records and deposits on drinks and accessories. Sources claimed that he also wanted physical inventory and process details.
The lawsuit states that the rapper “intended to monitor [Bacardi’s] business conduct to protect SC’s rights as a partner.”
