Jay-Z Buys Luxury Champagne Brand

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Jay-Z Buys Luxury Champagne Brand
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Jay-Z Buys Luxury Champagne Brand

Read on to learn about Jay-Z's new toast-worthy acquisition.

The New York wine and spirit company Sovereign Brands has announced that Jay-Z bought the luxury Armand de Brignac champagne brand, which is also known as "Ace of Spades."

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Soverign Brands revealed the announcement in a recent press release. "We are proud to announce that Sovereign Brands, a New York-based wine and spirits company owned by the Berish family, has sold its interest in the Armand de Brignac ('Ace of Spades') Champagne brand to a new company led by the globally-renowned Shawn 'Jay Z' Carter."

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Jay-Z is no stranger to the Ace of Spades champagne, which he featured in the music video "Show Me What You Got" in 2006.

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According to BBC News, the golden bottle of champagne that appeared in Jay-Z's music video sells for $300.

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Armand de Brignac is produced by Champagne Cattier, a French establishment that has been making wine since 1763.

Image Credit: Andreas Rentz, Getty Images Entertainment

In addition to his new champagne investment, Jay-Z also owns a clothing line, restaurants and a recording label.

Image Credit: Al Bello, Getty Images Sport

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Jay-Z may rap about champagne, but now the rapper can say that he owns part of a luxury company. As the third richest hip-hop artist in the world with an estimated net worth of $520 million according to Forbes, it's no surprise that the rapper has decided to invest in such a niche product.

Considering that Jay-Z imagined a ideal world filled with cold champagne in his hit "Young Forever," it was only a matter of time until he invested in the celebratory drink.

Check out the slideshow above to learn more about Jay-Z's big purchase.

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