So how does an uber-rich left-leaning secular Jewish pop culture media tycoon mesh with the Arab world?
The region is about to find out, when Jann Wenner launches Rolling Stone Middle East on Monday. There'll be the launch party, with stars and models huddled under glittering hotel chandeliers (we'll leave the swinging for Tom Cruise on the Burj Khalifa), but come Tuesday morning, will the newsstands rock?
It's been a long trip in the chauffeured limo from Haight-Ashbury to zillionairedom for the editor/publisher Jann Wenner. And those who scoff at the idea of a middle-aged rock mag in the Middle East should consider the man behind it.
Wenner's story is inescapably American in its trajectory: youth culture gone mega, a kind of innocence gone entrepreneur, paralleling the rise of the ultimate Yank export: rock'n'roll. Founding the mag in the heart of the counterculture San Francisco in 1967, he built a media empire from the earthquake of rock culture. Over subsequent decades, he traded pioneer cred for the gaudiness of youth celebrity, while maintaining an in-and-out role as a voice of American liberalism.
Wenner grew up in the strange privileged limbo of a wealthy childhood, exiled from New York to a private boarding school near Los Angeles while his parents worked towards a divorce. After being turned down by Harvard, dropping out of Berkeley and writing an early rock rag column called "Something's Happening", Wenner legendarily founded Rolling Stone with the jazz critic/mentor Ralph J Gleason and a $7,500 loan from the family of his future wife, Jane.
Headquarters was a rent-free warehouse newsroom on top of a printing press. Wenner's chosen motto - "All the news that fits" - was a cheeky take on The New York Times slogan, "All the news that's fit to print", implying the new magazine would explode the scope of coverage, leaping off from the very notion that rock'n'roll was a lens through which to see the rising youth culture, and beyond it, the altered culture itself. Rolling Stone was an undeniable game-changer. It not only covered rock'n'roll, it covered the world through it.
Asked decades later how the 21-year-old editor would have seen his future, Wenner replied: "He didn't think about those things." But he was dissembling. At the very least, Wenner always knew he intended to be the hippie with equity.
Reports from the time identify Wenner's business eye - he wanted ad revenue, not just counterculture beard-stroking. And he wanted to change the culture from the top down, with the Wenner imprimatur - ego to match vision. The young editor became infamous for his office tantrums, manipulative tendencies and perceived betrayals of the freaks and hotshots he initially championed.
"Pretty much everybody eventually got fired," a former writer once said, including the imperious sacking of Jim DeRogatis in 1996 over a negative review of Hootie and the Blowfish's (awful) album Fairweather Johnson, allegedly because the band's label had spent considerable money on advertising in the mag. The former Stone writer Neal Karlen once called Wenner "the rich kid bully at camp who wouldn't share his footlocker full of candy unless you did his chores on the job wheel".
Those same critics, however, would never deny Wenner's eye for raw and rising talent.
The list of American originals made famous in Rolling Stone's pages is legion: Hunter S Thompson, Joe Klein, William Grieder, Joe Eszterhas, Cameron Crowe. Likewise, the magazine built its reputation on the space and leeway given. This was the editor who loosed Thompson, a banned legend for his wild-eyed, lacerating but often presciently deranged political writing. Unfettered by editorial gentility or word count, Thompson could denounce the president Richard Nixon as "a monument to all the rancid genes and broken chromosomes that corrupt the possibilities of the American Dream", a man who "could shake your hand and stab you in the back at the same time".
This was the editor to whom a terrified Tom Wolfe turned when bridging the transition from nonfiction to novels, persuading Wenner to serialise - for a hefty payday - The Bonfire of the Vanities before its release. Wenner discovered a young photographer named Annie Liebovitz, and made her the doyenne of rock portraitists. The entire world has seen her famous shot of a naked John Lennon draping himself over wife Yoko Ono.
Wenner himself became the prime interviewer of major Democrats including the presidents Bill Clinton ("He'll be the first rock'n'roll president in American history") and Barack Obama, on the way to defining the magazine with both of his faces: an unapologetic American liberalism and a lust for the clout of celebrity.
His own friendships with the icons of the age - Lennon, Jagger, Dylan - and the celebrity elite of the media world have always dually functioned as corporate leverage as well. His eye ever trained on legacy, he cofounded the Rock and Roll Hall of Fame in 1983. Not everyone loved the institutionalisation of the music, but Wenner famously said of sneering inductees the Sex Pistols: "If they want to smash [their trophies] into bits, they can do that, too."
By then, Rolling Stone was mid-stream in its series of transformations: after a rise to preeminence in the 1970s and consolidation in the 1980s, the magazine lost sway to competitors and a changing culture it misread (it booted hip-hop). Following a slouch into irrelevance in the 1990s, we end with the corporate glitz of the new millennium.
And yet, the magazine still stutteringly rearticulates itself in the political conversation, driven by Wenner's own convictions. The Bush White House loathed it, and the magazine recently took down Gen Stanley McChrystal, the US forces commander in Afghanistan who was fired after he was quoted criticising the vice president Joe Biden in the article Runaway General.
But there was more - a typically American "scandal" as, inevitably, Wenner himself became the story. In 1995, he left Jane, wife of 28 years, mother of three sons and co-owner of the magazine, and came out as a gay man with his partner Matt Nye, with whom he now has a son and two daughters.
How does this play in the region? Well, it has not hurt him elsewhere.
Go back to the very source. In Wenner, you have perhaps the first unapologetic capitalist entrepreneur of his generation - certainly in media. And his is not a leveraged empire: Rolling Stone is owned by Wenner Media, estimated at a worth of well over US$500 million (Dh1.8 billion), and has been reported as having no debt.
And Wenner's newest branchout does not come without precedent. Rolling Stone Middle East will take a page from Rolling Stone India.
"We look forward to being a part of the Indian scene in our small way, reverent of the past and excited and challenged by the future," Wenner said when launching that branch of the brand - one of 18 international editions, including Germany, China, Japan, Chile, Brazil, Turkey, Indonesia and Russia.
And no, the Indian version has not become a Bollywood-steeped colonial rag. Two-thirds of its content comes from the mothership, the rest generated locally, in a country now reported to have more than 1,000 rock-(like) bands hoping for a shot at a coveted cover. The last issue, a Roger Waters cover, includes stories on the Mumbai rockers Split, East/West fusion jam band Indian Ocean, the hard rockers Indus Creed and the folktronica siren Natasha Khan, known onstage as Bat For Lashes, who is English of Pakistani background.
It will be a symbiotic relationship - Wenner's magazine conferring credibility to the nascent scene and in turn profiting from the Next Big Thing that may emerge from booming developing economies. In the UAE, Rolling Stone lands in an economy built on oil but transformed by tourism into one of the world's 10 most popular jetset destinations. And lavish shopping means pricey entertainment and castle-mortgage paydays for entertainers. If anything, the UAE lands more major-league rock acts than India - Aerosmith, Elton John, Coldplay, Pink, Phil Collins and Céline Dion have all performed here. Kylie Minogue was rumoured to have cashed north of $3 million to perform at the opening of the Atlantis Resort a few years ago.
Will Rolling Stone work in that context? My New York deli guy thinks so. He's from Yemen. "In Dubai, maybe ... But no, it wouldn't work in Yemen."
And some things may not fit. Will it run Rolling Stone's new Ozzy Osbourne "health issues" column? When one writer sought counsel for his vertigo, Dr Ozzy responded: "I thought I had vertigo . I went to the doctor, and he said, 'Mr. Osbourne, the problem - as far as I can tell - is simply that you're very, very drunk.' "
Well, editors edit. Aside from that, RSME may be a good fit. Wenner correctly read the tea leaves back in 1967, realising rock'n'roll respected no boundaries - cultural, political or geographical. And the UAE is just one more gleaming, blinging champion of the entertainment marketplace to be seduced.
* The National
UAE currency: the story behind the money in your pockets
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
UAE currency: the story behind the money in your pockets
$1,000 award for 1,000 days on madrasa portal
Daily cash awards of $1,000 dollars will sweeten the Madrasa e-learning project by tempting more pupils to an education portal to deepen their understanding of math and sciences.
School children are required to watch an educational video each day and answer a question related to it. They then enter into a raffle draw for the $1,000 prize.
“We are targeting everyone who wants to learn. This will be $1,000 for 1,000 days so there will be a winner every day for 1,000 days,” said Sara Al Nuaimi, project manager of the Madrasa e-learning platform that was launched on Tuesday by the Vice President and Ruler of Dubai, to reach Arab pupils from kindergarten to grade 12 with educational videos.
“The objective of the Madrasa is to become the number one reference for all Arab students in the world. The 5,000 videos we have online is just the beginning, we have big ambitions. Today in the Arab world there are 50 million students. We want to reach everyone who is willing to learn.”
COMPANY%20PROFILE
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
The cost of Covid testing around the world
Egypt
Dh514 for citizens; Dh865 for tourists
Information can be found through VFS Global.
Jordan
Dh212
Centres include the Speciality Hospital, which now offers drive-through testing.
Cambodia
Dh478
Travel tests are managed by the Ministry of Health and National Institute of Public Health.
Zanzibar
AED 295
Zanzibar Public Health Emergency Operations Centre, located within the Lumumba Secondary School compound.
Abu Dhabi
Dh85
Abu Dhabi’s Seha has test centres throughout the UAE.
UK
From Dh400
Heathrow Airport now offers drive through and clinic-based testing, starting from Dh400 and up to Dh500 for the PCR test.
Short-term let permits explained
Homeowners and tenants are allowed to list their properties for rental by registering through the Dubai Tourism website to obtain a permit.
Tenants also require a letter of no objection from their landlord before being allowed to list the property.
There is a cost of Dh1,590 before starting the process, with an additional licence fee of Dh300 per bedroom being rented in your home for the duration of the rental, which ranges from three months to a year.
Anyone hoping to list a property for rental must also provide a copy of their title deeds and Ejari, as well as their Emirates ID.
The chef's advice
Troy Payne, head chef at Abu Dhabi’s newest healthy eatery Sanderson’s in Al Seef Resort & Spa, says singles need to change their mindset about how they approach the supermarket.
“They feel like they can’t buy one cucumber,” he says. “But I can walk into a shop – I feed two people at home – and I’ll walk into a shop and I buy one cucumber, I’ll buy one onion.”
Mr Payne asks for the sticker to be placed directly on each item, rather than face the temptation of filling one of the two-kilogram capacity plastic bags on offer.
The chef also advises singletons not get too hung up on “organic”, particularly high-priced varieties that have been flown in from far-flung locales. Local produce is often grown sustainably, and far cheaper, he says.
Killing of Qassem Suleimani
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
The specs
Engine: 8.0-litre, quad-turbo 16-cylinder
Transmission: 7-speed auto
0-100kmh 2.3 seconds
0-200kmh 5.5 seconds
0-300kmh 11.6 seconds
Power: 1500hp
Torque: 1600Nm
Price: Dh13,400,000
On sale: now
more from Janine di Giovanni
Timeline
1947
Ferrari’s road-car company is formed and its first badged car, the 125 S, rolls off the assembly line
1962
250 GTO is unveiled
1969
Fiat becomes a Ferrari shareholder, acquiring 50 per cent of the company
1972
The Fiorano circuit, Ferrari’s racetrack for development and testing, opens
1976
First automatic Ferrari, the 400 Automatic, is made
1987
F40 launched
1988
Enzo Ferrari dies; Fiat expands its stake in the company to 90 per cent
2002
The Enzo model is announced
2010
Ferrari World opens in Abu Dhabi
2011
First four-wheel drive Ferrari, the FF, is unveiled
2013
LaFerrari, the first Ferrari hybrid, arrives
2014
Fiat Chrysler announces the split of Ferrari from the parent company
2015
Ferrari launches on Wall Street
2017
812 Superfast unveiled; Ferrari celebrates its 70th anniversary
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
Abu Dhabi Grand Slam Jiu-Jitsu World Tour Calendar 2018/19
July 29: OTA Gymnasium in Tokyo, Japan
Sep 22-23: LA Convention Centre in Los Angeles, US
Nov 16-18: Carioca Arena Centre in Rio de Janeiro, Brazil
Feb 7-9: Mubadala Arena in Abu Dhabi, UAE
Mar 9-10: Copper Box Arena in London, UK
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