Jay Z now owner of this N49,000 per bottle champagne company

Rapper and business mogul, Jay Z (real name: Shawn Carter) has become the owner of the luxury Armand de Brignac champagne brand. It was sold to him for an undisclosed amount by Sovereign Brands, a New York-based wine and spirits company.

Photo credit: Bonrich

A spokeswoman for Sovereign Brands, Yvonne Lardner was quoted as saying that Jay Z  "became interested in owning the brand and made us an offer we simply couldn’t refuse"

She added: “To establish an iconic, credible high-end champagne in such a short period of time is something truly remarkable".

The golden-bottled champagne is also known as "Ace of Spades" and it featured in a 2006 Jay Z music video, “Show Me What You Got”. It is produced in the French town of Chigny-les-Roses by eight people. A bottle sells for $300 (N49,135).

It was reported that in 2012, the 44-year-old rapper displayed 350 bottles of the drink at a fundraiser that he and his wife, Beyonce, organised for US President Barack Obama in a New York night club.

Jay Z, who is considered the third richest hip pop artiste in the world adds this latest acquisition his vast business interests which include a clothing line, restaurants and a recording label.

According to Forbes magazine, Jay Z is worth about $520million.