Philadelphia 76ers co-owner Michael Rubin recently organized an All-White Fourth of July party. High-profile personalities such as billionaire rapper Jay-Z, Quavo, Meek Mill, and Travis Scott were in attendance.
Although the party saw in attendance high profile personalities from entertainment to sports, it was the Hov’s extremely rare Richard Mille watch that drew the attention of the guests. According to Hypebeast, Hov has always been a big fan of the luxury watch brand, having worn multiple models on many occasions.
However, the watch worn by Jay-Z to the party drew the biggest attention due to its price tag. The billionaire rapper “complimented his all-white outfit with a one-of-a-kind Richard Mille RM 56-01 Tourbillon, decked out in green sapphire.”
Hypebeast reports that the green sapphire RM 56-01 Tourbillon marks the second unique commissioned piece by Jay-Z. The watch reportedly cost $3 million. “The watch’s entire winding tourbillon movement is highlighted by rare green sapphire crystals, different from his first commission of the RM056 Tourbillon in blue sapphire,” the report said.
Jay-Z previously wore a Mille 56 customized with a blue sapphire case which cost $2.5 million. In a piece, Alfred Tong analyzed the specs of the watch and noted that it took 3,000 hours to make the watch. Founded in 1999, Richard Mille has become one of the hottest watch brands in the world.
Besides Jay-Z, popular wrists like Pharrell, Rafael Nadal, Kylian Mbappé, and Frank Ocean wear one of Mille’s watches.
Jay-Z was recently in the news for selling half of his Champagne brand Armand de Brignac to Moët Hennessy, the luxury wines and spirits division of luxury giant LVMH. The acquisition was through a partnership with the rap legend which is anchored on equal stake and a global distribution agreement.
According to CNN, the deal comes at a time when LVMH, which owns Moët Hennessy, is working to reach out to diverse customers in the wake of racial criticism against top industry players. In the statement, Moët Hennessy said Armand de Brignac appeals to a global and diverse luxury consumer.
Neither side disclosed the amount involved in the deal, but Jay-Z intimated on a rap verse on What’s Free by Meek Mill that Armand de Brignac was valued in 2018 at $250 million.
Jay-Z’s first connection with a Champagne brand was Cristal in 2016. He fell out with the company after its CEO made some racial remarks in an interview with The Economist. That same year, he bought a 50% stake in Armand de Brignac with a partner. He later acquired the remaining stake.