Jay-Z’s Bacardi Lawsuit Over D’Ussé Partnership May Be Worth $2 Billion
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Jay-Z hasn’t been a billionaire for too long and is already pursuing litigation for business deals that match or exceed his net worth. The 52-year-old’s lawsuit against Bacardi over their D’Usse partnership could reportedly be worth $2 billion.
One of the case’s arbitrators, Daniel Schimmel, is the head of the International Litigation and Arbitration practice of Foley Hoag’s New York office. His experience profile notes the $2 billion number as part of Schimmel’s work history.
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“Chair of an ICDR Tribunal with a seat in New York in an arbitration between members of a Delaware limited liability company. The amount in dispute exceeds US$2 billion,” the arbitrator’s website said.
Complex reports that a source close to Foley Hoag confirmed the dispute in question being Hov and Bacardi. They also discovered through recent court documents that Schimmel is listed as one of the original arbitrators for the Roc Nation founder’s 2018 litigation against Iconix Brand Group Inc.
The lawsuit began in October with the 4:44 artist’s team alleging that Empire Investments Inc. was trying to “stonewall” them when it came to disclosing financial information related to the agreement. Earlier this year, the “PSA” rapper came out victorious in his legal battle for the Reasonable Doubt NFT and unpaid Parlux Parfume royalties.
Musically, Hov has been heard on two records year to date. The father of three most recently appeared on DJ Khaled’s posse cut “God Did” also featuring Rick Ross, Lil Wayne, John Legend, and Fridayy. The track made headlines for impressive performances from all and a loaded, four-minute verse from the TIDAL founder. Before that, he added fuel to Pusha T’s rollout for It’s Almost Dry with a feature on the single “Neck & Wrist.”
