Forget the Kardashians! It's Bey-Z Inc Time
Just days after Blue Ivy was born on 7 January, Beyonce and Jay-Z did what most new parents do. They filed a trademark application in an attempt to protect their daughter’s name from commercial use, of course, but there was a slight glitch in their plan.
Blue Ivy’s Already Taken!
The Huffington Post spilled, “While previous reports expected the couple’s motion to be approved by the US Patent and Trademark Office, it now appears that the Carters may have to explore other options as 32-year-old business owner Veronica Alexandra has been operating under the name [Blue Ivy] as part of her Boston wedding planning company.” Oh dear, looks like the baby range is on hold for now unless the pair are prepared to stump up the cash to buy the rights from Veronica, who seems pretty excited by the idea. She told The Boston Herald, “I can’t be frustrated with something I think is going to define my brand even more, which is financially exciting in itself and intellectually exciting as well.” Delighted Veronica even added that she’d “welcome” an offer from the couple if they wanted to buy the name from her. We bet she would!
World’s Highest paid Couple
But Bey and Jay shouldn’t be too concerned by the setback. They already own clothing lines, restaurants, clubs and sports teams between them and have more money than they know what to do with. Back in August the Daily Mail reported, “Jay-Z and Beyoncé have topped Forbes magazine’s World’s Highest Paid Celebrity Couples list 2012. The power pair are estimated to have made $78 million (Dhs286 million) together in the financial year ending 1 May, moving them from second place in last year’s list, behind Tom Brady and Gisele Bundchen, to first.” Bey apparently bagged $40 million (Dhs147 million) from album sales and sponsorship deals while poor Jay trailed behind with a paltry $38 million (Dhs139 million) from touring and his many business interests, which include his Roc Nation record label, management and music publishing company. So jel.
As well as running her own House of Dereon clothing and accessories range, Bey also rakes in big bucks with ongoing endorsement deals for Pepsi and Wal-Mart, which are sure to run into the multi-millions. Previously she was the well-paid face of L’Oreal, Disneyland and American Express and is said to be worth in the region of $180 million (Dhs661 million). Wowzers!
Jay has more varied business interests, which have bumped his net worth up to a whopping $450 million (Dhs1.65 billion). According to Yahoo!, “In 1994, unable to find a company to produce his debut records, Jay-Z, Damon Dash and a silent partner founded their own label, Roc-A-Fella Records. And when a distributor agreed to take on the album, he negotiated a deal to retain ownership of the master recordings.” An interest in fashion followed. The news site adds, “In the late 1990s, he discovered that sales of Iceberg apparel rose after he began including references to them in his songs. But when he went to Iceberg and asked for an endorsement deal, the company demurred. Instead, he started his own apparel company, Rocawear. In 2006, Rocawear was sold to a brand licensing company for $204 million (Dhs749 million).” Jay now makes his money from his 40/40 nightclub chain, restaurant interests and a stake in the New Jersey Nets basketball team. Not bad. Watch this space as to whether the cashed-up pair will spend some of their hard-earned dosh buying their daughter’s trademark from Veronica, the Boston wedding planner!