World’s richest rapper sues Bacardi
In his hit song Part II (On The Run), rapper Jay-Z sings about how he is "Chucking deuces, chugging D'Ussé“.
But these days the richest rap artist in the world could be doing more choking than chugging on the cognac.
This month music websites such as Bloomberg Law, TMZ and The Drink Business, reported that Jay-Z, real name Shawn Carter, is suing an affiliate of Bermudian-based liquor company Bacardi.
According to Bloomberg Law, Jay-Z’s SCLiquor has filed suit in a Delaware court over concerns that an affiliate of Bacardi Ltd is intentionally mismanaging D’Ussé so they can buy out the company at a lower price.
Jay-Z and Bacardi each own half of D’Ussé, founded by Sovereign Brands.
The lawsuit, made public on October 21, seeks internal files from D’Ussé, managed by Empire Investments, a wholly owned subsidiary of Bacardi.
According to TMZ, Empire Investments has said they shook on a deal last December to buy out Jay-Z’s half, but the artist reneged on the agreement and doubled his demanded valuation.
D’Ussé produces two cognacs: D’Ussé VSOP and D’Ussé XO.
Jay-Z’s net worth was recently revealed to be $1.5 billion.