(AllHipHop News)
Jay-Z made headlines earlier this week when he sold half of his hit champagne brand to Moët Hennessy Louis Vuitton.
Jay-Z and LMVH CEO Bernard Arnault announced the rapper had sold 50% of the Armand de Brignac brand to the French conglomerate.
While the actual terms of the deal have not been disclosed, the number crunchers at Forbes came up with an estimate.
If Forbes is correct, the sale would rank as one of the biggest cash transactions by a Hip-Hop star since Dr. Dre sold off Beats Electronics to Apple.
Forbes contacted five industry experts, who believe LMVH valued Jay-Z’s company Armand de Brignac aka Ace Of Spades at a whopping $630 million. The sale of 50% of the brand would have netted Jay Z a $315 million cash payment from LMVH.
“The multiples for Armand de Brignac—based on the category and volume size of the brand—far outreach brands that don’t have that celebrity ownership,” beverage market analyst Eric Schmidt explained to Forbes.
The last time a rap mogul had such a successful exit was when Dr. Dre sold his company Beats Electronics to Apple in 2014.
According to estimates, Dr. Dre took home $585 million in cash after the transaction with Apple.