The Real Story Behind Jay Z’s Champagne Deal

Earlier this week, media outlets around the world started trumpeting Jay Z’s latest boardroom triumph. “Jay Z buys Armand de Brignac champagne brand,” blared the BBC. “Jay Z likes $300 champagne. So he buys the company,” proclaimed CNN.

Problem is, this piece of ‘news’ isn’t actually new. As I reported in my Jay Z biography, Empire State of Mind, the Brooklyn-born mogul has had a financial interest in Armand de Brignac since its inception–helping boost his net worth to $520 million, by FORBES’...