In 2017, drinks giant Diageo bought the George Clooney tequila brand for $1 billion which he created with Rande Gerber. The company called Casamigos (now a one million case brand) was created by Hollywood star George Clooney and his friend Rande Gerber, who is the husband of Cindy Crawford, originally to be produced to be served among friends. But due to the growing demand, the two friends decided to launch their tequila on the international market.
George Clooney Tequila: Casamigos Production and Sale + How It Made George And Rande Rich!
The George Clooney Tequila brand has 3 partners:
The Hollywood actor created Casamigos with Rander Gerber, the husband of model Cindy Crawford, and businessman Mike Meldman as a partner.
Casamigos initially started as a very private project when the actor Clooney and his friend Gerber, owner of the chain of bars and entertainment venues Midnight Oil, began producing tequila to consume with family and friends.
In 2013, the three partners got a license and started their professional sale, their business took off immediately, and was fueled in no small part by the actor’s fame.
Here’s how the Casamigos tequila is made:
Casamigos tequilas are made from the hand-grown 7-year-old 100% blue spider web agave grown in the highlands of Jalisco in Mexico. They offer a high-quality standard by using the small-batch technique where the agaves are harvested and processed within two days to preserve all the aromas. Thus, the tequilas have a wonderfully smooth character. After the complex production, including an extra-slow fermentation process, the taste results in a deep, discernable, and elaborate aroma, just the way Casamigos connoisseurs intended.
Diageo really wanted the George Clooney Tequila company:
The British firm, Diageo which took a liking to the tequila brand in 2017 happens to be a world leader in the segment of premium alcoholic beverages. The group, whose brands include Smirnoff vodka, Johnnie Walker whiskey and Guinness beer, already sells other tequilas such as Don Julio and DeLeón, a drink brand from singer Sean Diddy Combs to expand the tequila market in the United States, where until then it was seen as a component to make margaritas rather than a liquor that can be drunk neat.
In 2017, they announced their decision to buy Casamigos, the brand of said distillate created by actor George Clooney and his partners, businessman Rander Gerber and real estate developer Mike Meldman, for one billion dollars. That year, Casamigos was on track to sell some 170,000 cases of the drink!
According to the explanation to investors, Diageo has valued its acquisition in the following way: it pays 700 million dollars based on the current business of the brand and the other 300 for the performance it expects it to have during the next decade.
Other acquisitions since 2011:
In February 2011, Diageo acquired the Turkish company Mey İçki for $2.1 billion. Later in May 2012, it was the turn of the Brazilian company Ypióca to be acquired for 300 million dollars. In November 2012, Diageo acquired 53.4% of the Indian company United Spirits, which was then in financial difficulty, for 1.28 billion euros.
In May 2014, following the acquisition of United Breweries Group by Diageo, the latter was forced by the British competition authority to sell part of United Breweries Group’s whiskey activities. Whyte and Mackay was then sold for 430 million pounds, the equivalent of 729 million dollars, to the Philippine company Emperador. In November 2014, Diageo exchanged the Bushmills whiskey brand for the 50% it did not own in the Don Julio tequilla brand. In September 2015, Diageo increased its stake by 20% in Guinness Nigeria, a subsidiary of which it held 54%, for 208 million dollars.
In October 2015, Diageo sold its 57.87% stake in Desnoes & Geddes and 49.99% in GAPL, respectively present in Jamaica (with Red Stripe beer) and Malaysia, to Heineken for $780 million. This transaction gives Heineken a 73.3% stake in Desnoes & Geddes and 100% in GAPL. In October 2015, Treasury Wine Estates acquired Diageo’s wine activities in the United States and United Kingdom for $552 million, including the Sterling Vineyards and Blossom Hill brands. In November 2015, Diageo sold its wine activities located in Argentina to Grupo Peñaflor.
In 2018, the Diageo group invested 173 million euros to promote whiskey tourism.
George Clooney’s net worth rose after the sale of his tequila:
According to online sources, George Clooney’s net worth soars to $500 million, with the sale of his Casamigos tequila brand. On June 6th 2020, he and his wife, Amal, welcomed twins Ella and Alexander and almost a month later, the actor announced the sale of his tequila company.
Clooney and his partners, the husband of international supermodel Cindy Crawford, Rande Gerber and Michael Meldman shared their $1 billion, while the net worth of George Clooney grew exponentially since 2013 when the friends founded Casamigos. The ultra-premium tequila quickly became very popular with Hollywood stars and spirits lovers.
The net worth of his wife, Amal Clooney is $50 million as of 2021. After a fleeting romance that lasted just seven months, the actor and Amal tied the knot in September 2014 in a lavish Italian ceremony.
The sale of the George Clooney tequila brand didn’t finalize till the second year and the company stated that they would initially pay $700 million for the brand, with an additional $300 million depending on sales performance over the next decade, according to CNBC. George received $233 million in checks before taxes, assuming a three-way split of the initial $700 million. Other endorsements and royalties earned him another $6 million that year, in 2018 alone.
While the three founders are expected to remain heavily involved with the company, it got us wondering how much George Clooney’s net worth is in 2022.
George Clooney’s net worth in 2022:
George Clooney is worth 550 million dollars in 2022:
George Clooney is, without a doubt, one of the best actors in the world. Clooney has been listed in Time’s annual ‘Time 100’ as one of the “World’s Most Influential People.” He was twice named “Sexiest Man Alive” by People magazine and his looks and charm also caused him to be dubbed “The Last Movie Star” by ‘Time’ magazine.
Acting and blockbuster legacy:
Clooney’s success in the Hollywood acting industry is the biggest contribution to his personal net worth.
George Clooney began his career in the entertainment industry in 1978. Unlike some actors who achieve instant success, fame didn’t happen soon. His first television role was in a 1978 miniseries called ‘Centennial’. She then went on to play more minor roles on television, but struggled to get his break and find consistent work or major roles. Then in 1994, Clooney finally got his big break when he landed the role of Dr. Doug Ross on the popular medical drama series ‘ER’, which aired on NBC. He remained one of the main characters in this series until 1999 and only returned once for a cameo appearance in the sixth season.
While working on ‘ER’, Clooney had already started playing small parts in movies and these had varying degrees of commercial success. As he rose to fame on the medical drama series and began to establish himself in the film industry, the roles he was offered began to get bigger, better and better paid. After leaving ‘ER’, Clooney starred in his first commercially successful movie ‘The Perfect Storm’. In the same year, she also had a role in ‘O brother, where are you?’.
His next big break was playing the lead role of Danny Ocean in the 2001 movie ‘Ocean’s Eleven.’ This was followed by two sequels in which Clooney starred; ‘Ocean’s Twelve’ in 2004 and ‘Ocean’s Thirteen’ in 2007.
His list of most successful films includes “Gravity” with $723.2 million (€635 million) raised, “Ocean’s Eleven” with $450.7 million (€395.8 million), Ocean’s Twelve with $362.7 million (€318 .5 million), “The Perfect Storm” with $328.7 million (€288 million), “Ocean’s Thirteen” with $311.3 million (€273 million) and “Money Monster”, with $41 million ( €36 million).
In total, George Clooney’s films have amassed a staggering $4.6 billion, in theaters around the world.
Not just an actor, George Clooney is also a filmmaker, producer, and writer who is recognized for his work in front of and behind the camera. In 2013, he won the Oscar for Best Picture for “Argo” and in 2006, he won an Academy Award for Best Supporting Actor for his role in “Syriana.”
In 2001, George Clooney co-founded Section Eight Productions with director Steven Soderbergh, with whom he had previously collaborated on many film projects. This company led Clooney to make his directorial debut with the 2002 film “Confessions of a Dangerous Mind.” This movie was based on the autobiography of Chuck Barris, a television producer. In 2005, the talented actor directed, produced and starred in ‘Good Night and Good Luck’. Other films he has directed include ‘Letterheads’ and ‘The Monuments’.
Two years ago, Clooney directed the black comedy “Suburbicon,” starring Matt Damon, Oscar Isaac and Julianne Moore.
The American actor and the British lawyer divide their lives between several households spread across several countries. Clooney has owned his Studio City in California since 1995, a 7,534-square-foot mansion that he bought from Stevie Nicks for $2.2 million.
In 2002, Clooney bought Oleandra, a luxurious villa on the shores of Lake Como, in Italy, for around $10 million. He also owns a seven-bedroom, 10-bathroom home on the outskirts of Cabo San Lucas, which is reportedly currently for sale for $50 million.
Finally, in September 2015, Clooney and his wife bought a $14.6 million mansion near Reading, England.
Another way Clooney George Clooney has made money is by endorsing products and appearing in commercials since 2013 for Nespresso.
Controversial money expenditure:
There is a rumor that the actor spends a portion of every paycheck to finance a spy satellite that appears over Sudan at all times. This allows him to keep tabs on Sudanese dictator Omar al-Bashir, who has been accused of hate crimes. The satellite not only tracks Bashir personally, but it also tracks his armed forces to anticipate movements and possible human rights violations.
George Clooney also said no to a $35 million salary from a ‘questionable’ company.
George and Amal Clooney were hailed as humanitarians, receiving one of the top social justice awards in October 2021. This explains George’s desire to refuse a high salary for partnering with ‘Turkish Airlines’ earning $35 million which he says is “sometimes questionable.” Turkey’s toxic Erdogan regime owns 49% of Turkish Airlines, directly involved in human trafficking and terrorist mercenaries. The dangerous Erdogan organization is involved in a court case close to George’s wife. Amal participated in the main Armenian genocide case before the European Court of Human Rights in 2016.
George Clooney’s money also went towards philanthropy:
George Clooney has repeatedly shown that his heart is as big as the figures in his bank account. In 2007, the actor joined forces with other Hollywood heavyweights such as Brad Pitt, Matt Damon, Don Cheadle and Jerry Weintraub to found the human rights organization Not On Our Watch, which fights to put international crises on the global radar. The organization has made significant contributions to support the Darfur region, including a donation of $2.75 million to the International Rescue Committee in 2007.
Clooney was a UN Messenger of Peace from 2008 to 2014. During that time he participated in charity events around the world and the star currently donates his time and money to numerous charitable organizations, including the Running Heart Foundation, the ONE campaign, United Way and the Sentinel Satellite Project.
After Hurricane Katrina in 2005, Clooney donated $1 million to the United Way to help victims and after the 9/11 terrorist attacks, he organized the “America: A Tribute to Heroes” all-star telethon, which raised more than $150 million for the United Way.
Clooney was also a vital part of the “Tsunami Aid: A Concert of Hope” telethon, which raised an estimated $18.3 million for the American Red Cross International Response Fund following the 2004 tsunami.
Rande Gerber’s net worth:
Rande Gerber is an American businessman responsible for founding the company Midnight Oil and is the owner of the Gerber Group. He is currently married to supermodel Cindy Crawford. Rande Gerber who is a business partner to George Clooney had a net worth of $100 million in 2017 which grew to $400 million in 2021.
Early life and personal life:
Rande Gerber was born in New York City in 1962 and grew up in Hewlett, Long Island.
The future businessman’s father is Jordan Gerber and his mother is Ellen Peckman. He has three siblings, among them two are a real brother and a half sister. He is of American nationality but has Russian Jewish descent.
In 1998, Rande Gerber married Cindy Crawford and has two children, Presley Walker and Kaia Gerber. The couple has a perfect family and is very happy in their little family. There have been no rumors related to the couple’s divorce, which shows that the couple is having a healthy relationship.
Business entrepreneur in the nightlife industry:
Rande Gerber graduated in marketing at the University of Arizona and worked for several years as a model. At the end of the 90s, he dedicated himself to creating businesses such as restaurants and bars as an entrepreneur in the bar and nightlife industry.
Rande Gerber’s portfolio consisted of bars, restaurants, and lounges around the world. In the year 2014, he released ‘Gerber Spirits’ but prior to that, in the year 1991, Rande Gerber opened his second bar called ‘The Whiskey on Ocean Drive’.
Thanks to his experience with bars, restaurants, and lounges Rande Gerber put his knowledge of alcohol to good use when he teamed up with Michael Meldman and George Clooney to launch Casamigos Tequila.
In 2013 he sold his company Casamigos Tequila to Diageo (owner of Smirnoff, Johnnie Walker and Baileys).
Cindy and Rande own or have owned a number of extremely impressive properties for decades. Some notable examples include:
In 1998, Rande and Cindy paid $1.85 million for their first beachfront home in Malibu which was listed for sale in 2019 for $7.5 million. Before putting it up for sale, they had been renting this house for $45,000 a month.
In 1999, the Crawford-Gerbers paid $4.8 million for a sprawling beachfront property in Malibu. In 2015 they paid $50.5 million to own two parcels next door to create a 6-acre complex. In 2018, he sold half of the property for $45 million.
In 2017, musician Ryan Tedder was paid $11,625 for one of his Beverly Hills mansions.
Cindy and Rande previously owned a mansion in the super exclusive community of El Dorado Golf & Beach Club in Los Cabos, Mexico. The place is so exclusive that George Clooney, (Rande’s tequila partner) owned the house next door. In April 2016, a Mexican billionaire paid $100 million to buy both houses at once, $50 million each.
Cindy and Rande previously owned a 23-acre property in the hills above Malibu that was at one point a children’s camp. They bought the property in 2014 for $6 million, spent millions on improvements and renovations, and then sold it for $13.3 million in 2016.
3 final lessons you can learn from George Clooney:
Now that you know all about George Clooney’s net worth, and how he accumulated his wealth, here are some special summarizing things you can learn if you also want to be inspired to create something similar to the uber-successful George Clooney tequila which sold for 1 billion dollars.
- Know who you can build a life with:
George Clooney may be mega-rich and throw lavish parties with his Hollywood friends, but old George never forgets his real friends. His tequila company is the perfect example of this.
- Always be open to advice:
As we make our way through life, people are always willing to offer advice, but like most stubborn men, we think we know it all.
Of course, this is not the case and it is something that even the great Clooney realized very early on. The megastar has been quoted as saying, “You never learn much by listening to yourself,” and there are no bigger words to live by.
- Learn from your failures:
Clooney knows a lot about failure as the man didn’t break out as an actor until he was 34, and spent much of his 20 years as an actor struggling with dead-end jobs. Despite constant rejections and missed opportunities from him, he kept going and finally got his big break in ER.