George Clooney, his best friend Rande Gerber and real estate mogul Michael Meldman must like tequila so much that a few years ago they decided to make their own brand called Casamigos. Now, George, Rande and Michael are rich people, so they didn’t make their homemade booze in the basement next to a rolling clothes rack full of winter coats like normal people They had a full-on operation down in Mexico, and eventually it got big enough to sell for $1 billion.
People says that Casamigos was bought by British drink company Diageo. CNBC says that Diageo paid $700 million upfront, and if Casamigos continues to do well, they’ll pay another $300 million over 10 years. George released a statement about the sale. He and his partners aren’t going to take the money and run; they’re still going to be very involved with Casamigos.
“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. But we’re not going anywhere. We’ll still be very much a part of Casamigos. Starting with a shot tonight. Maybe two.”
I don’t know how much of that $1 billion George and Randy will see. But George is a new father to twins, and I’m sure he and Amal Clooney have already started setting aside money for their future. Any extra Casamigos cash will no doubt come in handy. College tuition is already beyond expensive, so I have no idea what it will cost 18 years from now. Like what, $6 million, $7 million a year? Sounds about right.