In a statement to PEOPLE on Wednesday, Clooney confirmed … Two weeks ago, he became a father to twins. How About A $176k Porsche 911 GT3 RS? Investors Doubt George Clooney's Tequila Is Worth $1 Billion. When CNBC reached out to Clooney for comment today, he replied via email with the following statement: "If you asked us four years ago if we had a billion dollar company, I don't think we would have said yes. George Clooney must have been a saint in a previous life. George Clooney is serving up nearly $1 billion worth of tequila. E! Casamigos was a smash hit almost instantly. Although a relative newcomer to the tequila scene, Casamigos is no stranger to making a mark among casual drinkers and tequila connoisseurs. We'll still be very much a part of Casamigos. George Clooney is selling his tequila company Casamigos to Diageo for as much as $1 billion, the company said Wednesday. All Rights Reserved. Yahoo Finance Video Some were good, some not so good, and some expensive. Diageo says it will initially pay $700 million for George Clooney's Casamigos tequila company. Here's how Rande Gerber described Casamigos' origin story back in a March interview with Business Insider: "Casamigos really started by accident as far as a company. Sign up for free newsletters and get more CNBC delivered to your inbox. They initially launched the brand as a private label to produce small quantities of tequila for their friends. Get this delivered to your inbox, and more info about our products and services. Clooney can do whatever he wants. By Richard Carleton Hacker on June 23, 2017 At this point each partner invested $600,000 to take the business to the massive. From the stress of running a billion dollar company. Casamigos sold 120,000 cases in 2016, generating around $70 million in revenue. Two weeks ago, he became a father to twins. On Wednesday, British liquor giant Diageo announced it would … George Clooney explains why he's not acting as much anymore: he sold a tequila company for $1 billion Was er aber auch nicht verschweigt: Clooney braucht das Geld nicht mehr. Now his tequila business is making him even richer. https://www.who.com.au/george-clooney-casamigos-tequila-cocktail-recipes Posted by 3 years ago. 36.0k. The sale just made Clooney the highest-paid actor of the last year, according to … The sale will consist of $700 million in cash upfront plus $300 million in bonuses that will be based on future performance milestones. The deal sees Diageo paying $700 million up front, with the potential … George Clooney’s Billion-Dollar Tequila The megastar and his partners sold their Casamigos tequila brand to Diageo this week for $1 billion. The brand was founded by George Clooney (yes, the actor George Clooney), Rande Gerber (a nightlife entrepreneur, known more as the significant other of supermodel Cindy Crawford) and property developer Michael Meldman. Diageo Buys George Clooney's Tequila Company For Up To $1 Billion : The Two-Way The company sold its first bottles in 2013, after Clooney and a friend created a tequila … — CNBC's Jen Zweben contributed to this report. George Clooney's Home: A $30 Million Villa in Italy Almost Makes Up for an Oscar Snub. The company made the announcement on Wednesday that Diageo was going to purchase it … George Clooney sells tequila brand for $1 billion By Alexandra Heilbron on June 22, 2017 | 4 Comments Remember a few years ago when George Clooney released his … Data is a real-time snapshot *Data is delayed at least 15 minutes. It's why his hair turned grey. Now his tequila business is making him even richer. He is married to a gorgeous human rights lawyer who recently gave birth to twins… And now he's being showered with stupid amounts of money for a little tequila company he started as a side project just a few years ago! According to CNBC, George Clooney, along with business partners Rande Gerber and Michael Meldman, have decided to sell their world-famous tequila-brand, Casamigos, for nearly $1 billion. When George Clooney and Rande Gerber’s tequila company, Casamigos, sold for $1 billion last year, it begged the question: How did the once-humble swill become so … George Clooney had much to raise a glass about last night as the father of newborn twins just sold his tequila business for $1 billion. We'll still be very much a part of Casamigos. George Clooney’s tequila brand, Casamigos, is being bought by Diageo.. Casamigos, which translates to "house of friends," started as a private collection of tequilas meant just for Gerber and Clooney's friends and family. At this point they teamed up with Meldman, a real estate tycoon who also happens to be a liquor distributor in the US. Clooney and co-owners Rande Gerber and Michael Meldman are expected to stay with the company after its acquisition. Their goal was to create a formula that didn't leave a bad aftertaste and would not result in a hangover. Starting with a shot tonight. George Clooney just sold his tequila business for up to $1 billion. The actor and new father is selling Casamigos, the tequila company he owns with Rande Gerber and … George Clooney is about to get even more rich. This reflects Diageo's belief in our company and our belief in Diageo. "It immediately took off," Gerber told CNBC in November. George Clooney is selling his and Rande Gerber's Casamigos Tequila for a reported $1billion. Casamigos is a tequila company co-founded in 2013 by George Clooney, Rande Gerber, and Mike Meldman. He and Clooney hand-crafted a Reposado for personal use only—as a literal “house tequila”—while building their matching Mexican dream homes in Los Cabos (which they’ve since sold). It was purchased in June 2017 by Diageo for $700 million plus up to a further $300 million based on the brand's performance. The actor is selling his Casamigos tequila brand to … "If you asked us four years ago if we had a billion dollar company, I don't think we would have said yes," Clooney told CNBC via email. The "as seen on TV" gadget has been his go-to hair cutting tool for years, the two-time Oscar winner recently revealed, and on Jimmy Kimmel Live!, he demonstrated his skills.. This month marks his third anniversary as one of the richest men in America: the result of selling Casamigos, the premium tequila company he created … Global Business and Financial News, Stock Quotes, and Market Data and Analysis. The twin fantasy mansions owned by tequila entrepreneurs and best friends George Clooney and Rande Gerber, stunning villas situated next to each other on a Mexican beach, have been sold. In 2013 they officially received a license to mass-produce the tequila. George Clooney could market ice cubes to Alaskans, but if the quality of his tequila was sub-par, he’d quickly get called out by the high standards of the ultra-premium market. “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 to E! He's one of the most famous and highly-paid actors on the planet. George Clooney's net worth before the deal closed was $225 million. The average bottle costs around $50. We want to hear from you. Diageo doesn't expect the deal to add to its earnings until its fourth year. Davos Brands CEO state of the spirits industry. According to CNBC, George Clooney, along with business partners Rande Gerber and Michael Meldman, have decided to sell their world-famous tequila-brand, Casamigos, for nearly $1 billion. We now estimate that Gerber is worth $300 million. DON'T MISS: How George Clooney accidentally started the tequila company he just sold for up to $1 billion. Maybe two. Diageo said it will initially pay $700 million, with the potential for another $300 million based on the tequila's performance over 10 years. George Timothy Clooney (born May 6, 1961) is an American actor, film director, producer, and screenwriter. (LOS ANGELES) -- Sure, he sold his Casamigos tequila brand for a billion bucks, but to look like a million, George Clooney turns to his trusty Flowbee for his haircuts. He’s turned his booze into “Ocean’s” of cash. George Clooney may be the face of dozens of films and fancy coffee, but it's in premium tequila that he just hit the real jackpot. Our idea was to create the best tasting, smoothest Tequila and Mezcal, that didn't have to be covered up with salt or lime. The brand is on pace to sell 170,000 cases in 2017 making it the fastest-growing super premium tequila in the United States. © 2020 CNBC LLC. George Clooney is set to rake in a huge payday, but it isn't for his next blockbuster film. It's a great month to be George Clooney. Earlier today it was revealed that George Clooney and his two partners, Rande Gerber and Michael Meldman, have agreed to sell their tequila company Casamigos to … They spent two years researching the tequila industry, meeting distillers and sampling hundreds of types of tequila. Got a confidential news tip? It's celebration time for George Clooney, after the tequila company he co-founded was sold to drinks giant Diageo in a deal worth $1bn (£790m). We love Casamigos on the rocks, by the shot and at times straight from the bottle. We'd go out to bars and restaurants, and bartenders would recommend them. George Clooney Agrees to Sell Tequila Brand to Diageo. George Clooney just sold his tequila business for up to $1 billion, George Clooney weighs in on refugee crisis. George and Rande sold … The transaction is expected to close during the second half of 2017. George Clooney and his partners have sold their tequila brand Casamigos to London-based distiller Diageo for up to $1 billion. George Clooney has inked a potential deal to sell his tequila company for $1 billion — more money than his last four films grossed, combined. Clooney and Gerber started Casamigos (which loosely translates to "house of friends"… casa amigos) just four years ago! Transaction is expected to close during the second half of 2017 partners have sold their tequila brand to... Which loosely translates to `` house of friends '' … casa amigos ) just four years!... 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