While still on ER, he managed to use his newfound notoriety to launch his film career, landing his first major leading man role in a Hollywood film with another horror comedy, 1996s From Dusk till Dawn, written by and co-starring Quentin Tarantino and directed by Robert Rodriguez. The companys success was recognized by the multinational beverage company Diageo and had offered to buy the company. As a result, we imagine Clooney may have taken a pay cut for the movie, though we imagine he was still paid millions of dollars for the voiceover role. After that, Clooney landed guest stints on major series throughout the 80s, including The Facts of Life and Golden Girls. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Diageo, the world's largest spirits maker, agrees to buy George Clooney's tequila brand Casamigos. It is now sold in 20 countries including the US, Canada, the UK, Australia, New Zealand, Hong Kong, Spain, Italy, Peru, the Dominican Republic, and Jamaica but Gerber says he and Clooney still taste every batch. Click here to subscribe to the People Food newsletter. "The transaction values Casamigos at up to $1 billion, with initial consideration set at $700 million and a further potential $300 million based on a performance linked earn-out over 10 years, reflecting the brand's exceptional growth trajectory and upside potential," reads the release. His mother Nina Bruce was both a beauty queen and a city councilwoman, while his father Nick Clooney is known for his work as an anchorman and a TV host, having spent five years on the AMC Network introducing and discussing classic movies. George Clooney is reported to have earned an estimated $40 million as Nespresso's brand ambassador. In 1995, he purchased a $2.2 million, 7,354-square-foot, six-bedroom villa from Stevie Nicks in L.A.'s Studio City. Clooney has reportedly earned $40 million from the endorsement deal with the coffee company. "Casamigos really started by accident as far as a company," Gerber told Business Insider in an interview in March. He is also a successful writer, director and producer. Diageo said it will initially pay $700 million, with the potential for another $300 million based on the tequila's performance over 10 years. Diageo announced the news in a press release which reveals that the deal is expected to close in the second half of calendar 2017. One that's perfect for us to drink?'". All expressions are great served neat or on the rocks, he said, and are the perfect base for premium cocktails.. Related: The 'Savage Prank' George Clooney Pulled on Meryl Streep. George Clooney's Tequila Is Taking Over Rap. By Angela Natividad Published Feb 07, 2022 The thought process of long time friends George Clooney, Rande Gerber and Mike Meldman behind the launch of their own tequila brand is amusing. This company led Clooney making his directorial debut with the 2002 film 'Confessions of a Dangerous Mind'. People may receive compensation for some links to products and services on this website. Considering the fact that the actor is halfway there, its definitely plausible he may get there someday. The celebrity pals started Casamigos in 2013 "by accident" after failing to find the perfect tequila on vacation in Mexico. If you asked us four years ago if we had a billion dollar company, I dont think we would have said yes, Clooney said in a statement. Many celebrities have launched alcohol brands, but George Clooneys investment in the booze biz paid off big time. Is Anyone Surprised Brad Pitts Net Worth Is Crazy High? Don't miss: How a 172-year-old spirits company that survived Prohibition is still thriving today, Get Make It newsletters delivered to your inbox, Learn more about the world of CNBC Make It, 2023 CNBC LLC. How George Clooney Grew His Billion-Dollar Tequila Brand Casamigos Clooney has amassed his half-a-billion dollar fortune from his acting roles, his work as a director, writer and producer, and from his entrepreneurial endeavors as well as sponsorship deals with popular brands. She has been working at PEOPLE since 2013. Some were good, some not so good, and some expensive. Of course, this salary can vary depending on Clooneys role in the film and if he is taking on any additional behind-the-scenes duties, which would typically earn him an additional fee. As stated above, George Clooney was reportedly paid $20 million upfront for his role in 2013s Gravity, plus points on the backend which entitled the actor to a portion of the movies profits. Some were good, some not so good, and some expensive. But Clooney and business partner Rande Gerber didn't set out to make money by launching Casamigos Tequila. Months later, they landed on the right formula, Gerber said. It was Clooney who brought up the idea of creating their own tequila drink while they were spending some time at their house in Mexico. In 2013, the star co-founded his own brand of tequila, Casamigos Tequila. Even so, we imagine Netflix most likely paid Clooney close to $20 million for his many responsibilities for the movie. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. How much did george clooney sell his tequila company for? He also co-founded, along with his wife Amal, the Clooney Foundation for Justice, which works to fight oppression in court systems worldwide. You guys have to get licensed and do this right, Gerber said. On June 21, 2017, Clooney, Gerber and Meldman agreed to sell Casamigos to alcohol . Now thats an expensive cup of joe! He regularly is paid around $20 million per film role. "We wanted to keep drinking it," Gerber says. They finally launched their tequila brand with the help of their well connected friend Mike Meldman who later on became their partner in the business. Partly due to having Clooneys name attached to the brand, the brand has immediately took off through the word of mouth. Sign up for free newsletters and get more CNBC delivered to your inbox. Related: George Clooney Reveals His Biggest Parenting Mistake Yet. Quotes displayed in real-time or delayed by at least 15 minutes. We'll still be very much a part of Casamigos. George Clooney is selling his tequila company to Diageo for as much as $1 billion, the company announced on Wednesday. Casamigos quickly became the fastest-growing tequila brand in America. It's just miles from Brad Pitt's Chteau Miraval estate. All About Christian Dumontet, All About Phil Knight, the Founder and Former CEO of Nike, Cindy Crawford on Instilling Good Values in Her Kids:'Try to Be In the Moment' [Exclusive]. You've successfully subscribed to this newsletter! Casamigos, whose tequila is imported from Mexico and typically retails for $45 to $55 per bottle, expects its shipments to soar 42% this year to 170,000 cases from 120,000 last year, Diageo said. Inside George Clooney's mega-rich US$500 million lifestyle: the actor earns big with Omega and Nespresso gigs and his US$1 billion Casamigos empire - and splurges on property with wife Amal. "As you do in Mexico, we would drink a lot of tequila. Diageo, a British maker of alcoholic beverages, agreed Wednesday to buy Casamigos in an acquisition that could value the U.S. tequila maker at as much as $1 billion. His most prominent are doing ads for Nespresso. There came a point where George turned to me and said, 'Why don't we create one that's perfect for us?'". As a result, a 750ml bottle of Blanco Casamigos starts at around $49.99 with the brands Joven Mescal coming in at around $64.99. Meldman was described by Gerber as smart and have numerous incredible connections which made their brand prosper. "We remain committed to our brand and look forward to our future with Diageo and continuing our work with our dedicated and passionate Casamigos team.". Clooney was reportedly paid a career-high salary of $20 million for the leading role in the remake, taking over the character from Frank Sinatra. Diageo approached co-founders George Clooney, Rande Gerber, and Mike Meldman. Yet when they were asked to open the cases, they were shocked to see cash inside. It has been said he never asked for a raise during his entire run on the show, instead choosing to focus on building his movie career. After having the perfect blend for their tequila brand, they have met with a distributor in the US who also wanted to get on board with their product. This $34 million payout could be George Clooneys largest earnings from a movie ever. Because of his fame, good looks and fanbase, George Clooney is also a highly sought-after spokesperson for major brands. They werent looking to start a business with Casamigos, but eventually, the distiller gave them an ultimatum of sorts. The Casamigos co-founders (from left to right): Michael Meldman, George Clooney, and Rande Gerber. Clooney started his acting career at the very bottom, doing background work on TV shows way back in 1978. I hated it, by the way, at the time My father's argument was, always to challenge power and protect the powerless. Casamigos: How George Clooney Accidentally Started The $1-Billion Tequila Company Casamigos as a "House of Friendship" Many have shared a tequila-fueled night with friends that resulted in a drunk idea - are two for "business ventures", but George Clooney and Rande Gerber actually made theirs happen. "As you do in Mexico, we would drink a lot of tequila," Gerber told Business Insider earlier this year. 3 years after George Clooney sold his tequila brand for a billion Always. George Clooney's Tequila Company Casamigos Is Sold for $1 Billion After a couple of months trying a lot of different tequilas, George turned to me and said, Why dont we just make our own? ", He added they plan on "still be[ing] very much a part of Casamigos" and will be enjoying "a shot tonight. According to Forbes, the deal landed Clooney an estimated $233 million. George Clooney, Rande Gerber Sell Tequila Company - People.com Clooney and Gerber researched extensively to create the perfect blend to achieve this. George Clooney was reportedly paid $100,000 per episode during his stint starring on the medical drama from 1994 to 1999. Gerber and his wife Cindy Crawford also gifted George and Amal two Casamigos onesies to celebrate the impending birth of their twins. Actor George Clooney holds his trophy during a photocall after receiving an Honorary Cesar Award at the 42nd Cesar Awards ceremony in Paris, France, February 24, 2017. George Clooney created a tequila company on a whim, and now it's being sold to Diageo for up to $1 billion, CNBC reported Wednesday. DON'T MISS:How George Clooney accidentally started the tequila company he just sold for up to $1 billion. Rande Gerber Didn't Want George Clooney's Money, But That $1 Million In 2001, George Clooney co-founded Section Eight Productions with director Steven Soderbergh, with whom he had already collaborated on many film projects. The once-bachelor pad has since had $1 million worth of renovations put into it to fit his family life. "If you asked us four years ago if we had a billion dollar . "It was important that it tasted great and didn't burn going down," Gerber explains. This material may not be published, broadcast, rewritten, or redistributed. He is one of the most famous people on the planet and has been. Starting out his career, Clooney struggled as an actor and starred in a slew of B-movies before landing his big break on the TV series "ER" in the mid-1990s. Clooney and co-owners Rande Gerber and Michael Meldman are expected to stay with the company after its acquisition. Clooney admits he didn't get paid much to be in it. Casamigos: George Clooney tequila brand sold for $1bn to drinks giant They wanted a tequila that would go down easy and not leave them with a hangover in the morning. His fame leveled up when he played Batman in 1997's "Batman & Robin." Over the years Clooney has signed deals with Omega, Martini Vermouth, and Fiat. CNBC reports that George Clooneyactor, philanthropist, husband of Amal, noted practical joker, tequila enthusiasthas sold his popular tequila company Casamigos to Diageo, a British alcoholic beverages company, for as much as $1 billion. Its perfect.. In 2014, George and Amal purchased a piece of property on the English island of Sonning Eye on the Thames for $13 million, which features a pool-house bar and a 16-seat screening room. The company behind Smirnoff, Johnnie Walker and Baileys announced it would buy . Specifically, what was inside was $20 bills adding up to $1 million. This reflects Diageos belief in our company and our belief in Diageo. "Every one of us - 14 of us . He would remain with the series from 1994 to 1999, though he continued to make guest appearances on the show until the end of its run. And he didnt even have to rob a casino to get it! His aunt was actress and cabaret singer Rosemary Clooney. The actor is selling his Casamigos tequila brand to Diageo, the owner of Johnnie Walker, Smirnoff and Croc, for up to $1 billion. All About the Disney+ Film About Flamin' Hot Cheetos, Tom Hanks Reveals He Questioned Whether Anyone Was 'Going to Care' About 'Goofy' Forrest Gump, Celebrity Stylist Karla Welch Wants to 'Change the Trajectory' of How People Feel About Periods (Exclusive), Who Is Christine Quinn's Husband? The two have tasted about 700 samples before coming up with the Casamigos blend. All of a sudden, it seems like Casamigos is name-checked in every song. The price tag includes an initial payout of $700 million, plus a further potential $300 million over the next decade based on the brand's performance. They sold the company in 2017 for $1 billion, and on April 1, 2018, they expanded the range of Casamigos by launching the Casamigos Joven Mezcal. A decade ago, Rande Gerber was among the 14 friends longtime pal George Clooney gifted $1 million to. "One that we didn't have to mix typically we drink it straight or on the rocks that we could drink all day long and not be hungover in the morning. But Clooney and business partner Rande Gerber didn't set out to make. He is said to earn over $4 million per month, but of course, this number can vary as well. In 2017, British liquor conglomerate Diageo purchased Casamigos for $700 million, with a potential $300 million bonus based on 10-year sales. All Rights Reserved. George Clooney's Tequila Company Sold for Up to $1 Billion The Netflix movie required Clooney to brave the elements as a portion of the story takes place in the arctic and reportedly had a budget of around $100 million. Either youre selling it or youre drinking way too mucheither way, we cant keep calling it samples. George Clooney just sold his tequila business for up to $1 billion, George Clooney weighs in on refugee crisis. George Clooney in "Batman & Robin." Warner Bros. Many other celebrity-backed tequila launches followed. In a recent interview with the Gentlemans Journal, Clooney said that the companys origins stemmed from wanting to enjoy a fine tequila without having to cover it up with salt or lime. The handsome and charming actor is constantly in the headlines for his movies and his personal life. We want to hear from you. "We'd go out to bars and restaurants and bartenders would recommend them. George Clooney is selling his tequila company Casamigos to Diageo for as much as $1 billion, the company said Wednesday. Weeks after Clooney welcomed twins with his wife Amal, the actor announced he sold his tequila brand Casamigos for $1 billion. George Clooney is selling his tequila company Casamigosto Diageo for as much as $1 billion, the company said Wednesday. (Video: Reuters) . Powered and implemented by FactSet Digital Solutions. The movie reportedly had a budget of $40 million and only grossed slightly more than $46 million at the worldwide box office. Investor in Boring Biz's (@makemoneywithcodie) on Instagram: "George Clooney's secret sauce selling Casamigos Tequila for $1B is not what you think." 4 likes, 0 comments - CODIE SANCHEZ . traveling to bars and parties across the world to sell Casamigos. CNBC helpfully explains that the reason for the as much as $1 billion figure is due to Diageo saying it will initially pay $700 million upfront to acquire Casamigos, with the potential for an additional $300 million being added in about 10 years based on the tequilas performance within the company. One thats perfect for us to drink?, The trio found a distillery and got to work on a recipe. All Rights Reserved. George Clooney is an American actor, screenwriter, director, and activist who has a net worth of $500 million. One that we could drink all day and all night, and not be hungover in the morning. Clooneys good looks and charisma caused a sensation, earning him quite a fanbase, and he became one of the most iconic sex symbols of the 90s. Offers may be subject to change without notice. Weitere Informationen darber, wie wir Ihre personenbezogenen Daten nutzen, finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. However, given the fact that Clooney was already a bonafide star, box office draw and an Oscar winner by that point, we can imagine he earned a hefty paycheck, most likely upwards of $10 million if not closer to $15 or $20 million. By clicking Sign Up, you also agree to marketing emails from both Insider and Morning Brew; and you accept Insiders, NOW WATCH: How 'Game of Thrones' weapons are made. ", After months of back-and-forth with the distiller, and tasting and developing their tequila, the duo found the perfect product, Gerber recalls: "George opened the sample, poured one for me, poured one for him, and we tasted it. CNBC's Jen Zweben contributed to this report. A 750-milliliter bottle now costs between $45 and $55. Want the ultimate dish on the latest celebrity food news, plus exclusive recipes, videos and more? Once Clooney, Gerber, and Meldman released Casamigos to the publicafter they each invested a reported $600,000 in the tequila brandit immediately took off and became the fastest-growing ultra-premium tequila in the country, as Gerber told CNBC in 2016. A post shared by Rockland Liquors (@rocklandliquorsma). Casamigos is a tequila company which was co-founded by American actor and filmmaker George Clooney with his friends in 2013. As a result, it has been reported he earned $11 million total from the medical drama.