Jay-Z Files Lawsuit Against D’Usse Partner Bacardi to Gauge Insight Into Where Money Was Spent
Hov needs some answers!According to TMZ, hip-hop billionaire Shawn “Jay-Z” Carter is having trust issues with his partner in cognac, Bacardi.
In court documents that were obtained by TMZ Hip Hop, Jay-Z’s liquor company, SC Liquor, has filed a lawsuit against Bacardi, which is partners in the cognac D’Usse. The company is trying to acquire information on how much money the cognac line has been making.
The J to the Izzo rapper has been 50/50 partners with Bacardi since 2011. The legal paperwork is requesting that the company known for its rum, Bacardi, hand over all financial books and records relating to D’Usse.
SC Liquor also wants the location of all associated warehouses that are storing the brand’s barrels, bottles, and accessories. Within that demand, SC Liquors also wants all information concerning Bacardi’s physical inventory and its inventory process. The lawsuit states that SC Liquor needs to “monitor the conduct of [Bacardi’s] business to protect SC’s rights as” a partner in the company.
Jay-Z is no stranger to the spirits business. His Ace of Spades champagne has made such an impression in the business that, last year, he made headlines when it was reported that he sold a 50 percent stake to Louis Vuitton Moët Hennessy.The total for the deal was reportedly in the range of at least $315 million, according to Revolt TV.Jay-Z explained that the move was a “beautiful marriage,” during a recent appearance on Kevin Hart’sHart to Heart series on Peacock.“We’ve been trained to look at the percentage of something you own. It ain’t what you own; you can own 100 percent of nothing,” he explained. “It’s whatever the strategy calls for. Like Ace, LVMH was a brilliant strategic partner for me.”
“I owned a 100 percent. I could’ve said, ‘I want to own a 100 percent of this thing,’ or I could own 50 percent of it and…push it even further,” he continued. ”It’s still an asset that I can pass on to my kids.
“The ideal really is to create these things and these foundations to pass on to the next generation.”