- JAY-Z has settled his legal issue with Bacardi after selling his majority ownership in the D'USSÉ Cognac company for $750 million.
- Bloomberg says that after months of arbitration and court cases, the multibillion-dollar lawsuit over his cognac business has been settled.
- The settlement called for an affiliate to buy out JAY-Z's 50 percent stake in the cognac company. This would leave Bacardi with 75.01 percent of the rest of the business.
- The rapper will keep "a major ownership position" in SC Liquor LLC. “I am excited to renew our cooperation with Bacardi,” JAY-Z stated. He called the venture “a blessing.” He sued Bacardi for lowballing him by giving $500 million USD instead of $1.5 billion USD.
- If JAY-Z had sold his stake in D’USSÉ, would you still purchase it?
Mutha Knows dishes the best celeb gossip and crazy stories each morning on the Tea on the Rise n Grind Morning ShowFull Bio