Jay-z is currently locked in a legal battle with Bacardi, who revolves around D’Ussé. However, things seem to be getting more and more complicated as the hearings move forward a day.
Here’s everything you need to know.
Is Jay-Z trying to inflate ‘D’Ussé’ before selling the stock?
TMZ broke the news on Wednesday that Bacardi is claiming Jay-Z boosts the brand’s value. They argued that he was trying to get a much bigger profit.
Moreover, Empire Investment, a subsidiary of the liquor brand, announced that the two sides signed a ‘handshake contract’ in December last year.
Under their agreement, Empire will buy a 50% stake in the #1 stake in the 4:44 chart of the Cognac brand.
However, Roc Nation founders ‘suddenly broke the agreement and doubled the value of the demand.’
In a nutshell, Empire/Bacardi is accusing Jay-Z of trying to inflate the company’s values to make more money.
On the other hand, the legal team of the music mogul and entrepreneur alleges that Bacardi was deliberately trying to “lower” the overall price of the brand when it decided to sell its stake in Cognac at the end of 2021.
However, there is no news yet as to what price the two sides agreed to when they ‘handshake’.
The Grammy Award winner has previously submitted a legal request to Bacardi to reveal the brand number to discover the true value of cognac.
Meanwhile, Bacardi’s legal team said it had already delivered over 800 pages of financial information about the brand. However, they are refusing to share other data despite Hov’s request.
Bacardi cited sensitive data relating to the brand as having nothing to do with her partnership with D’Ussé.
In addition, legal teams from both parties will further discuss the case at a hearing scheduled for this Friday in New York.
Jay-Z sells D’Ussé cake and wants to eat it. He claims he’s trying to build a bundle, doubling the value of his current brand, at least according to his partner in superlative liquor, Bacardi. https://t.co/VOt373HcXD
— TMZ (@TMZ) November 2nd, 2022
Beyonce and Jay-Z transform their family into a proud family for Halloween.
Beyonce and Jay-Z did their best for Halloween this year. Together with their three children, they dressed up as characters from the Disney Channel animated series The Proud Family.
The 41-year-old superstar also outlined the post with the caption ‘Family every day and night’.
She shared rare images, including her entire family, on Instagram on Thursday with over 280 million followers.