Jay-Z and LVMH, Two of the World’s Biggest Brands, Go Into Business
LVMH, owner of Dom Pérignon, will acquire half of Armand de Brignac, Jay-Z’s Champagne line known as Ace of Spades.
By Katherine Rosman and Vanessa Friedman
Feb. 22, 2021
Jay-Z in 2015.Credit.Sam Hodgson for The New York Times
When Jay-Z clicked into a video call last week with Philippe Schaus, the chief executive of LVMH Moët Hennessy Louis Vuitton’s drinks business, the Zoom backgrounds told the story.
Jay-Z spoke from a partly covered terrace of his Los Angeles home, wearing a casual sweater, accessorized by the outdoor living room and greenery around him. Mr. Schaus was in his office in Paris, wearing a suit, accessorized by shelves of elaborate drinks bottles behind him.
Proofpoint has agreed to purchase data loss protection managed services provider InteliSecure to help customers protect critical data in diverse environments.
Michael Dell Forms New ‘Blank Check’ SPAC, Seeks $575M IPO
‘Our acquisition and value creation strategy is to identify, acquire and after our initial business combination serve as a trusted, long-term partner to accelerate a company’s growth in the public markets,’ states an SEC filing from newly formed MSD Acquisition Corp. By Mark Haranas February 22, 2021, 10:38 AM EST
Dell Technologies Chairman and CEO Michael Dell is seeking to raise upward of $575 million for his newly formed “blank check” acquisition company through an initial public offering.
“MSD Acquisition Corp. is a newly organized blank check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities,” said the company in a filing with the U.S. Securities and Exchange Commission. “Our ac
These managers made bank
Today, Institutional Investor unveiled the 20th edition of its Rich List, one of the most watched rankings of hedge fund managers’ performance. Every year, financial tycoons pore over the magazine’s estimates of whose fortunes are up the most.
Last year, the top 25 managers earned $32 billion even as the economy crashed and markets wobbled. Over all, hedge funds returned 11.6 percent last year, according to Hedge Fund Research, their best performance in a decade but not enough to keep pace with the S&P 500, which was up 16 percent.
“It may not be seemly, but it remains fact,” the magazine’s editors wrote.