Hip Hop

Jay-Z Closes Bicardi Multibillion-Dollar Deal For D’usse Stake Following Lawsuit


Jay-Z and Bacardi have struck a multibillion-dollar deal as part of a settlement to end the rapper’s lawsuit against the spirits company over his stake in the D’USSÉ premium cognac.

News of the settlement came on Friday Jay-Z, whose real name is Shawn Carter, and Bacardi struck a new long-term agreement surrounding the D’USSÉ premium cognac brand following the rapper’s lawsuit.

The rapper’s lawsuit against Bacardi stemmed from a potential business transaction between the two parties, who are both 50/50 owners of the D’USSÉ brand. Jay-Z took the company to court to demand Bacardi release information about the “location of all warehouses storing D’USSÉ barrels, bottles and accessories” so his company, SC Liquor Company, can get a proper valuation of what his 50% share is worth.

The rapper’s attorneys have alleged that his stake is around $2 billion, but they accused Bacardi of maliciously mismanaging the brand to force the rapper to sell his share way below its actual value.

Beyonce and Jay-Z / @beyonce IG

Things threatened to get nasty between the two partners, but according to Complex, the parties came to an amicable settlement on Friday, with Jay-Z releasing a statement on the new deal struck.

“Growing D’USSÉ over the past decade from an idea to one of the fastest-selling spirits in history has been a blessing,” the statement from Jay-Z read. “The next phase of this journey will further cement D’USSÉ’s legacy as one of the world’s most respected brands. I am excited to renew this partnership with Bacardi.”

The details of the new agreement have not been shared, but it appears that Bacardi has agreed to Jay-Z’s price, with reports that the new deal will see Bacardi acquiring a majority interest in the multibillion-dollar brand while Jay will have a “significant ownership stake.”

It’s likely the rapper sold at least 26% of his shares. The deal was facilitated by Jay-Z’s financial advisor, Evercore.