After months of litigation, JAY-Z and Bacardi have resolved their dispute over their multibillion-dollar cognac joint venture, D’USSÉ. The settlement was announced in a press release today (Feb. 3) and called for “an affiliate of the liquor giant to buy out a majority of the rap star’s 50 percent stake in the cognac company, D’USSÉ LLC, leaving Bacardi owning at least 75.01 percent of the business.” Hov will still retain “a significant ownership stake” through his company SCLiquor LLC.
“Growing D’USSÉ over the past decade from an idea to one of the fastest-selling spirits in history has been a blessing,” the hip hop veteran said in the statement. “The next phase of this journey will further cement D’USSÉ’s legacy as one of the world’s most respected brands. I am excited to renew this partnership with Bacardi.”
“We have deep respect for his creativity and business acumen and are proud of our accomplishments in establishing D’USSÉ as a leader in an exciting and competitive category,” the statement read on behalf of Bacardi.
The dispute began with Bacardi offering $500 million for JAY-Z’s interest in the venture to which the rapper responded with a $1.5 billion counteroffer that wound up being rejected. The “Encore” emcee then took the case to court, and even filed a separate lawsuit that claimed Bacardi was “intentionally running D’USSÉ into the ground.”
On the music front, the multi-platinum certified artist’s last full-length solo album was 2017’s 4:44, which boasted guest features from Frank Ocean, Damian Marley, Gloria Carter, and Beyoncé while housing fan-favorites like “Family Feud” and “The Story of O.J.” Since then, Hov blessed us with verses on tracks like “Neck & Wrist” by Pusha-T and “GOD DID” by DJ Khaled, the latter of which is performing this Sunday (Feb. 5) at the 2023 Grammy Awards.