Jay-Z Tells Diddy & Ciroc To Move Over, Launches New Drink In NYC

Rap mogul Jay-Z may be trying to pass Diddy on Forbes' "Wealthiest Hip-Hop Artists" list for next year after unveiling his very own cognac line last night (May 9) in New York City.

According to reports, Young Hov quietly introduced the alcoholic drink at a private gathering.

Looks like Jay-Z may be expanding his empire to include cognac. Last night in New York at an ultra private event he helped introduce D'usse (pronounced "dew-say") a cognac being produced by Bacardi that is expected to compete with Hennessy. Don't worry, you won't have to break the bank to drink this stuff it will go for $44.99 for a 750-ml bottle - but don't be surprised if there is a super expensive version. Will you buy it off the name drop or do you need a taste? (The LIFE Files)

Earlier this month, Diddy reacted to landing atop his Forbes competition.

"I'm usually at No. 1," Diddy said in an interview. "Our plan was to always flip-flop on it. This was the year I told him that we had to flop it back to its original owner. We push each other, we inspire each other. It's just a beautiful relationship of natural competitiveness. But you know, it's back at Bad Boy." (Hot 97)

Forbes editor Zack O'Malley Greenburg credited Puffy's popular Ciroc Vodka for helping contribute to an edge over Jay.

"Number one is Diddy at $550 million. He's number one, far and away from everybody else mainly because of Ciroc," editor Zack O'Malley Greenburg said in an interview. "He's got this incredible deal backed by beverage giant, Diageo. He gets a huge cut of profits and he's entitled to a split in profits of any sale of the brand. Second up we have Jay-Z. Jay-Z's one of the only artists whose making a lot of music actively. He released Watch the Throne last year -- so Jay-Z's right up there." (Forbes)

Outside of paper-stacking, Jay recently discussed raising newborn daughter Blue Ivy Carter.

"I imagine I'll take things I learned from my mom and things I've learned from raising my nephews and apply that," the rapper said in an interview for Oprah's Master Class: Special Edition. "Then at the end of the day, I just know I'll probably have the worst-spoiled little kid ever," he admitted. Jay-Z went on to say that even if he does spoil Blue Ivy, she will probably resent him once she is a teenager. "Everyone imagines they'll be a great dad until their [kids are] teenagers," he said. "[Then they say], 'Get away from me, dad. You're embarrassing me'." (Digital Spy)