Billionaires Jay-Z and Beyoncé's Net Worth Just Got Even Bigger
LVMH recently purchased half of Jay-Z's Champagne line, Ace of Spades.
Back in 2018, Forbes announced that Jay-Z (real name Shawn Carter) was officially a billionaire. Combine that with Beyoncé's spot at no. 51 on the magazine's list of America's Wealthiest Self-Made Women and the power couple — Jay and Bey have been married for more than a decade — proved why many saw them as a blueprint for modern success.
"It's bigger than hip-hop," Swizz Beatz said of the two. "It's the blueprint for our culture."
Today, The New York Times reported that the two would be getting even richer. After luxury conglomerate Louis Vuitton Moët Hennessy (better known as LVMH) announced that it would acquire half of Armand de Brignac, Jay-Z's Champagne brand, most well-known for its Ace of Spades label and D'Ussé cognac, the pair's net worth is sure to hit even greater heights.
"We were always looking to grow this brand," Jay-Z told the newspaper. "And this happened very naturally."
Philippe Schaus, the chief executive of LVMH's drinks sector, explained that the brand saw Jay as a firebrand and that Ace of Spades tapped into an entirely new market.
"In your understanding of the world of tomorrow," Schaus said, "we believe you created a new consumer for Champagne."
The Times notes that all the financial details of the transaction are under wraps, but a rough estimate can be drawn from a few lyrics — however accurate those can be.
"I'm 50% of D'Ussé and it's debt-free, 100% of Ace of Spades, worth half a B," Jay-Z raps on "What's Free," a track with Meek Mill. Half of Armand de Brignac (which was valued back in 2018) would put the payday at around $250 million.
"Their careers blossomed together," producer Jim Jonsin explained in Zack O'Malley Greenburg's book, Empire State of Mind. "He attached himself to all her fans, and then they went and got into his stuff. The same goes for her ... they're the president and first lady of the music industry."
Insider reports that Jay-Z is considered hip-hop's first billionaire. Before the news of the LVMH partnership, Jay and Beyoncé were valued at $1.35 billion. Jay-Z's fortune isn't limited to music. He sold his clothing line, Rocawear, to Iconix for $204 million in 2007.
Beyoncé has $400 million to her name, according to Business Insider. While she's most well-known for performing with Destiny's Child and as a solo artist, her partnerships have included Pepsi, Adidas, and H&M. Her tours, including the Formation World Tour and the On the Run II Tour with Jay-Z raked in $250 million each. And she was reportedly paid $3 million to perform at Coachella but parlayed that into a $60 million deal with Netflix, which aired the show.
The couple also has an impressive real estate portfolio, which includes properties in Los Angeles and the Hamptons.