Jay-Z Net Worth: Billionaire Status in Danger? Rapper Faces $2 Billion Lawsuit after Bacardi Rejects Buyout Offer

Jay-Z and Bacardi partnered up for cognac D'Usse back in 2012, but it appears that the partnership has now soured, and allegations have been thrown around.

As per recent developments in Jay-Z and Bacardi's feud, the rapper offered to buy out the liquor company for $1.5 billion, but his offer was rejected-which has caused him to raise an eyebrow.

This comes months after their evaluation of the brand. According to TMZ, the rapper's estimated worth of D'Usse amounted to $2.5 billion, while Bacardi said the brand was worth only $460 million.

Now the question is: why did Bacardi refuse Jay-Z's offer three times what Bacardi estimated?

Reports note that the rapper accuses Bacardi of lowering the appraisal of the brand, and court documents also read that Jay-Z is asking for a modified arbitration to settle the sale.

Complex reports that the dispute lawsuit between Jay-Z and Bacardi could go more than $2 billion dollars.

Transparency

The dispute between the partners has been going on for quite some time now, and the lawsuit is mostly anchored by Jay-Z's insistence on transparency.

The partnership is 50-50, which entitles both access to all information regarding the warehouse, barrel storages, bottles, accessories, and more, reports say.

Jay-Z maintains that Bacardi has withheld access to "all books and records" as well as the location of the cognac's products and materials.

According to the Daily Mail UK, Bacardi has been stalling and evading Jay-Z attempts to get the accurate worth of the brand.

Elsewhere in their report, the rapper's legal team also accused Bacardi of mismanagement, which has caused profits, which is why Bacardi rejected his offer.

However, on the other hand, Bacardi claimed that the deal between it and the rapper was only a "handshake deal," which entailed that Jay-Z was selling his 50 percent of D'Usse to Bacardi.

Furthermore, Bacardi claimed that the rapper "abruptly reneged on its agreement and doubled its demanded valuation."

D'Usse is, in itself, one of the most prominent spirits out there. It has received several shoutouts in songs, including Beyonce's "Drunk in Love," Justin Timberlake's "Suit & Tie, and Rick Ross' "The Devil is a Lie."

This comes as no surprise because the rapper has done several promotions over the years, even bringing it to the Grammys when he won an award.

As of this writing, there isn't much word on how the brand will go forward in the future, mostly because everything is still murky. Perhaps more advancement in the case will bring light on how D'Usse will fare.

Tags

Jay-Z, Lawsuit