George Clooney Sells Tequila Company Casamigos for $1 Billion (Yes, BILLION)
In addition to being a world-famous movie star, husband to a beautiful' international human rights lawyer, and father to twins, George Clooney is now also a billionaire. A FREAKING BILLIONAIRE.
Clooney is a co-owner of the tequila company Casamigos, which just sold to Diageo for as much as $1 billion.
"If you asked us four years ago if we had a billion dollar company, I don't think we would have said yes," Clooney said in a statement. "This reflects Diageo's belief in our company and our belief in Diageo. But we're not going anywhere. We'll still be very much a part of Casamigos. Starting with a shot tonight. Maybe two."
Clooney invested in the company along with pal Rande Gerber (Cindy Crawford's husband) and Michael Meldman. They initially started it as a private label for friends and family, but took it public in 2013 after getting licensed.
Clooney and Gerber are such fans of their own tequila that they celebrated their birthdays in May with a cake depicting them behind a Casamigos bar.
In a press release, Diageo said the deal is expected to close later this year: "The transaction values Casamigos at up to $1 billion, with initial consideration set at $700 million and a further potential $300 million based on a performance linked earn-out over 10 years, reflecting the brand's exceptional growth trajectory and upside potential."