Jay-Z Sells Half of Ace of Spade Ownership to LVMH

Jay-Z has sold 50% ownership of the Armand de Brignac champagne, also known as "Ace of Spades," he has owned since 2014 to luxury brand Moët Hennessy Louis Vuitton.

LVMH oversees several other luxury champagne brands, including Dom Pérignon and Krug.

"Ace of Spades," sold more than 500,000 bottles in 2019.

The financial terms of the deal were not disclosed.