<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
<headerData>
<submissionType>SCHEDULE 13G/A</submissionType>
<filerInfo>
<filer>
<filerCredentials>
<cik>0001250731</cik>
<ccc>XXXXXXXX</ccc>
</filerCredentials>
</filer>
<liveTestFlag>LIVE</liveTestFlag>



</filerInfo>
</headerData>
<formData>
<coverPageHeader>
<amendmentNo>1</amendmentNo>
<securitiesClassTitle>Ordinary Shares, no par value per share</securitiesClassTitle>
<eventDateRequiresFilingThisStatement>09/30/2025</eventDateRequiresFilingThisStatement>
<issuerInfo>
<issuerCik>0001924482</issuerCik>
<issuerName>Innovation Beverage Group Ltd</issuerName>
<issuerCusip>Q4933C133</issuerCusip>
<issuerPrincipalExecutiveOfficeAddress>
<com:street1>29 Anvil Road</com:street1>
<com:street2>Seven Hills</com:street2>
<com:city>New South Wales</com:city>
<com:stateOrCountry>C3</com:stateOrCountry>
<com:zipCode>2147</com:zipCode>
</issuerPrincipalExecutiveOfficeAddress>
</issuerInfo>
<designateRulesPursuantThisScheduleFiled>
<designateRulePursuantThisScheduleFiled>Rule 13d-1(d)</designateRulePursuantThisScheduleFiled>
</designateRulesPursuantThisScheduleFiled>
</coverPageHeader>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>CHAI TRUST CO LLC</reportingPersonName>
<citizenshipOrOrganization>IL</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>0</classPercent>
<typeOfReportingPerson>OO</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Samstock/SZRT, L.L.C.</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>0</classPercent>
<typeOfReportingPerson>OO</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Samuel Zell Administrative Trust</reportingPersonName>
<citizenshipOrOrganization>IL</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>0</classPercent>
<typeOfReportingPerson>OO</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<items>
<item1>
<issuerName>Innovation Beverage Group Ltd</issuerName>
<issuerPrincipalExecutiveOfficeAddress>29 Anvil Road, Seven Hills, New South Wales, Australia, 2147</issuerPrincipalExecutiveOfficeAddress>
</item1>
<item2>
<filingPersonName>This Statement is filed on behalf of Chai Trust Company, LLC ("Chai Trust"), Samstock/SZRT, L.L.C. ("Samstock/SZRT") and the Samuel Zell Administrative Trust (the "Samuel Zell Trust" and, together with Chai Trust and Samstock/SZRT, the "Reporting Persons").&#13;
&#13;
This Statement relates to the Ordinary Shares held directly by Samstock/SZRT. Samstock/SZRT is 100% owned by the Samuel Zell Trust, and Chai Trust is the trustee of the Samuel Zell Trust. In such capacities, each of the Samuel Zell Trust and Chai Trust may be deemed to indirectly beneficially own the Ordinary Shares held directly by Samstock/SZRT.</filingPersonName>
<principalBusinessOfficeOrResidenceAddress>Two North Riverside Plaza, Suite 600, Chicago, Illinois 60606</principalBusinessOfficeOrResidenceAddress>
<citizenship>Chai Trust is an Illinois limited liability company.&#13;
Samstock/SZRT is a Delaware limited liability company.&#13;
The Samuel Zell Trust is a trust governed by the laws of the State of Illinois.</citizenship>
</item2>
<item3>
<notApplicableFlag>Y</notApplicableFlag>
</item3>
<item4>
<amountBeneficiallyOwned>As of September 30, 2025, each of the Reporting Persons may be deemed the beneficial owner of 0 Ordinary Shares.</amountBeneficiallyOwned>
<classPercent>0</classPercent>
<numberOfSharesPersonHas>
<solePowerOrDirectToVote>0</solePowerOrDirectToVote>
<sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
<solePowerOrDirectToDispose>0</solePowerOrDirectToDispose>
<sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
</numberOfSharesPersonHas>
</item4>
<item5>
<notApplicableFlag>N</notApplicableFlag>
<classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>
</item5>
<item6>
<notApplicableFlag>Y</notApplicableFlag>
</item6>
<item7>
<notApplicableFlag>N</notApplicableFlag>
<subsidiaryIdentificationAndClassification>See disclosure in Item 2 hereof.</subsidiaryIdentificationAndClassification>
</item7>
<item8>
<notApplicableFlag>Y</notApplicableFlag>
</item8>
<item9>
<notApplicableFlag>Y</notApplicableFlag>
</item9>
<item10>
<notApplicableFlag>Y</notApplicableFlag>
</item10>
</items>
<exhibitInfo>Exhibit A -  Joint Filing Agreement</exhibitInfo>
<signatureInformation>
<reportingPersonName>CHAI TRUST CO LLC</reportingPersonName>
<signatureDetails>
<signature>/s/ Philip Tinkler</signature>
<title>Philip Tinkler, Chief Strategy Officer</title>
<date>11/14/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>Samstock/SZRT, L.L.C.</reportingPersonName>
<signatureDetails>
<signature>/s/ Philip Tinkler</signature>
<title>Philip Tinkler, Vice President</title>
<date>11/14/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>Samuel Zell Administrative Trust</reportingPersonName>
<signatureDetails>
<signature>/s/ Philip Tinkler</signature>
<title>Philip Tinkler, Authorized Representative</title>
<date>11/14/2025</date>
</signatureDetails>
</signatureInformation>
</formData>

</edgarSubmission>
