George Clooney Net Worth: Casamigos Sales Increases Actor's Total Net Worth
The stars are aligned for George Clooney this month.
After becoming a first-time dad to his twins with wife Amal Alamuddin-Clooney on June 6, the filmmaker and businessman will be several hundred millions richer after selling the Casamigos tequila company that he co-founded with nightlife industry entrepreneur Rande Gerber and real estate businessman Mike Meldman for at least $1 billion.
On Wednesday, the "Money Monster" actor confirmed in an email sent to CNBC that his tequila company was purchased by the British multinational spirits manufacturer Diageo.
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"If you asked us four years ago if we had a billion dollar company, I don't think we would have said yes," Clooney wrote in the 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."
The report stated that the transaction with Diageo will possibly close sometime within the second half of 2017, where the British company will initially pay Clooney and Gerber $700 million and potentially get another $300 million if the tequila brand's performance goes well in 10 years.
This means that Clooney can potentially earn as much as $233 million once the initial payment from Diageo is divided equally in three parts. But he will only be able to get as much as $140 million as soon as the taxes are reduced.
Before the deal, the actor's net worth is somewhere within $225 million. But after selling his tequila brand, the actor could possibly have $500 million under his name.
Casamigos is currently sold for $50 per bottle in 20 countries around the world. It managed to sell as much as 120,000 cases in 2016, and is expected to sell around 170,000 more this year. This could make the brand the highest-selling premium tequila brand in the U.S.
Reports claim that this is not the first time that Diageo purchased a celebrity-run liquor brand. In 2007, the company tapped hip-hop rapper Sean "Diddy" Combs to promote Ciroc vodka in the U.S.
