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George Clooney Sells Casamigos Tequila Company for Ungodly Amount of Cash

The new father is making some very practical decisions

Getty/Karwai Tang

Everyone’s least-favorite Batman George Clooney is unloading his tequila company Casamigos to UK-based beverage titan Diageo for around $1 billion. That’s nearly half as much money as the former ER heartthrob has earned for Hollywood studios over his two-and-half decades on the big screen.

Clooney, the man who briefly popularized the Caesar-style haircut, started this company with his pals, nightlife heavy hitter Rande Gerber and real estate tycoon Mike Meldman back in 2013. The new dad tells CNBC: “If you asked us four years ago if we had a billion-dollar company, I don’t think we would have said yes... This reflects Diageo’s belief in our company and our belief in Diageo.” The tequila brand’s new parent company also owns Johnnie Walker, Smirnoff, Baileys, and Guinness.

All three buddies plan to keep some involvement with the brand after the sale. Clooney, the voice and real-life embodiment of Fantastic Mr. Fox, explains: “We’ll still be very much a part of Casamigos. Starting with a shot tonight. Maybe two.” As part of the deal, the Three Casamigos will get $700 million now, and $300 million based on how the tequila sells over the next decade.

George Clooney just sold his tequila business for up to $1 billion [CNBC]
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