The Real Deal New York

How real estate mogul Mike Meldman got into the tequila business with George Clooney

Casamigos tequila company was sold for $1 billion in June 2017
December 08, 2018 01:00PM

From left: Mike Meldman, George Clooney and Rande Gerber at the Casamigos House of Friends Dinner on June 8, 2018 in Hollywood, California (Credit: Getty)

George Clooney’s birthday golf trips ended up working out very well for real estate tycoon Mike Meldman.

Clooney and his friends would often celebrate his birthday at projects owned by Meldman’s Discovery Land Company, which is how the two initially met, according to Business Insider. Meldman eventually became one of Clooney’s friends himself, and they wound up as business partners in the tequila industry.

That venture worked out well for Meldman as well, as he, Clooney and their partner Rande Gerber sold their tequila company Casamigos to Diageo last year for $1 billion. At the time of the sale, Clooney said the partners would continue to be involved in the company.

Meldman’s Discovery Land Company owns 23 properties catering to CEOs, athletes and presidents. The developments include amenities like golf courses, restaurants and bars, and people need to buy land on the property and build a home if they want to become a member.

Discovery claims to consistently sell $1 billion in real estate a year and remains Meldman’s main focus. The company is based in Arizona and launched its first east coast property last year called Silo Ridge in Armenia, New York. [Business Insider] – Eddie Small