Jay-Z sues Bacardi over Cognac partnership
The world’s third-highest-paid entertainer (according to Forbes) is reportedly suing D’Ussé Cognac co-owner Bacardi over concerns surrounding the drinks giant’s financial transparency.
According to TMZ Hip Hop, documents have been uncovered that show demands from the Jay-Z’s (Shawn Carter) company, SC Liquor, to Bacardi for complete financial clarity. Since 2011, Jay-Z and Bacardi have co-owned the brand, with each having a 50% share.
In the documents seen by TMZ (but not by the drinks business), SC Liquor allegedly wishes to see all books and records as well as a full breakdown of the locations of all warehouses storing D’Ussé bottles and accessories.
One line that has been disclosed by TMZ says: “[SC Liquor needs to] monitor the conduct of [Bacardi’s] business to protect SC’s rights”.
db has reached out to Bacardi to ascertain if this is true, and if it has a statement it wishes to issue in response.
D’Ussé produces two Cognacs at the Château du Cognac, concocted by cellar master Michel Casavecchia: the VSOP (‘Very Superior Old Pale’), and the XO (‘Extra Old’). Last year, a one-of-a-kind bottle of the spirit, 1969 (the rapper’s birth year) Anniversaire Limited Edition Grande Champagne Cognac in a diamond-shaped crystal vessel, was auctioned at Sotheby’s.
Jay-Z is known to namedrop the brand in his lyrics. On Beyoncé’s song ‘Drunk in Love’, he rapped: “That D’Ussé is the s**t if I do say so myself”. In his 2013 song ‘Part II (On the Run)’ another line goes: “Chucking deuces, chugging D’Ussé”.
Last year, Moët Hennessy bought a 50% stake in Jay-Z’s Armand de Brignac Champagne brand, one of the factors that resulted in his estimated net worth this year rising to US$340 million.