Beyonce
Lemonade singer Beyonce invested in a citrus-based beverage last week. The award-winning artist and entrepreneur headlined a recent $31 million Series A funding round in enhanced water brand Lemon Perfect, the company said.
“I don’t typically enjoy drinks without added sugar, but Lemon Perfect is delicious,” said Beyonce. “It was an easy decision to invest in something that not only tastes great and is healthy but also and, most importantly, allows choosing a healthier lifestyle to be affordable and accessible to everyone.”
The beverage has no sugar, artificial flavours or sweeteners.
Lemon Perfect will use the funds to help scale the brand to more than 40,000 points of distribution by the end of the year, founder and chief executive Yanni Hufnagel said.
The financing takes the brand’s total funding to $42.2m, with a valuation of more than $100m less than three years since the sale of its first bottle.
The singer was joined by a network of investors across the food and beverage, media, music, sports and entertainment industries.
Beyonce, 40, has a net worth of $440m, as calculated by Forbes magazine, which features her on its list of America’s self-made women. The 28-time Grammy winner is one of the world’s best-selling recording artists with digital and album sales estimated in excess of 200 million.
Although she has made her name with music, Beyonce is also a businesswoman and investor. Following her first endorsement deal with Pepsi in 2002, she signed agreements with L’Oréal, Samsung, Ford and American Express.
In 2009, she signed a perfume deal worth up to $20m with the global beauty brand Coty and has since released several fragrances, including the core brands Heat, Pulse and Rise.
Although House of Dereon, the fashion line she founded with her mother Tina Lawson, was a commercial failure, Beyonce subsequently partnered with TopShop and later Adidas on the athleisure line Ivy Park.
In 2018, the singer signed a $60m, three-project deal with Netflix. Her company, Parkwood Entertainment, produces music, movies and apparel.
Beyonce and her husband, rapper and entrepreneur Jay-Z, were pop music’s first billionaire couple, with Forbes last year estimating their combined worth at $1.8 billion. The pair perform together and have joint investments. Together, they grossed a total of $264m from their two On the Run tours in 2014 and 2018.
Beyonce has previously taken the unusual step of receiving payment in company equity. In lieu of a performance at an Uber corporate event in 2015, she reportedly asked for $6m worth of restricted stock units in the ride-sharing company.
Lemon Perfect is Beyonce’s second investment in enhanced water after she participated in a seed round for watermelon-flavoured beverage WTRMLN WTR in 2016. Her other investments include the concert merchandise app Sidestep.
Last month, she joined Rihanna in an all-female group of investors into Paris-based accessories brand Destree. Co-founder Géraldine Guyot told WWD the round’s investors include venture capital firm Sequoia Capital China, at the behest of Angelica Cheung, as well as Reese Witherspoon, Gisele Bündchen and Gabriela Hearst.
Ms Guyot expects to launch her first free-standing Destree boutique in Paris this June. She also hopes to expand her current network of e-store and wholesale partners into China, Japan and the Middle East.
Beyonce was among the first big celebrities to carry a Destree bag during New York Fashion Week in February.
Leonardo DiCaprio
Actor and environmentalist Leonardo DiCaprio has added to his portfolio of meat alternatives with investments in vegan burger chain Neat Food and cultivated leather start-up VitroLabs.
DiCaprio joined Neat as a strategic investor as the London-headquartered company embarks on an ambitious global expansion into the US and the Middle East.
“Disrupting our food system with sustainable alternatives is one of the key ways we can make a real difference in reducing global emissions,” he said. “Neat Burger’s pioneering approach to alternative proteins is a great example of the type of solutions we need moving forward.”
Neat is a vertically integrated food technology company with a restaurant and alternative proteins consumer packaged goods (CPG) business. Its vegan burgers are dairy, egg, gluten and GMO-free.
Established in 2019, the brand has an aggressive target of 1,000 units by 2030 globally. It is launching in the Middle East, Italy and the US this year, with corporate-owned online and offline restaurants and franchise partnerships.
The company expects to have 42 sites by the end of the year, including 12 in the US, growing to 231 by the end of 2024.
Neat has simultaneously launched a Series B funding round, primarily with US investors, to fund its growth plans and underpin its new product development and CPG pipeline. It completed a $7m funding round in October, led by SoftBank’s Rajeev Misra.
Formula One driver Lewis Hamilton was an early backer, alongside Beyond Meat’s Tommaso Chiabra and Cirque le Soir nightclub impresario Ryan Bishti.
DiCaprio’s investments span 18 portfolio companies, according to investor intelligence site Crunchbase. These include Aleph Farms and Mosa Meat, two early cultivated meat start-ups, as well as start-ups in recycling, cultivated diamonds and technology.
Earlier this month, he joined a $46m Series A funding round into VitroLabs. Led by venture capital company Agronomics, the round included investments from luxury fashion maker Kering, which owns Gucci, Bottega Veneta, Alexander McQueen and Yves Saint Laurent, and Khosla Ventures, the early stage technology investment firm owned by Sun Microsystems founder Vinod Khosla.
Founded in 2016, Vitrolabs will use the capital to build and scale the world’s first pilot production of cell-cultivated leather and to fast-track commercialisation. The global leather industry is estimated to be worth $400bn.
DiCaprio is thought to have a net worth estimated between $280m and $300m. Besides investments in alternatives to meat and meat products, he is also a property investor.
Kevin Hart
Comedian Kevin Hart is laughing all the way to the bank after a recent merger and investment in his media company.
In April, the stand-up comedian and Hollywood actor launched media company HARTBEAT with a $100m investment from private equity company Abry Partners.
Abry’s minority stake is estimated at 15 per cent, The Wall Street Journal reported. The company is valued at more than $650m.
The new venture has been created by merging Hart’s existing entertainment businesses — TV and film production company HartBeat Productions and the sales and distribution network Laugh Out Loud.
The entertainer will serve as chairman of HARTBEAT, while Thai Randolph, who has held senior executive positions at both businesses, will be its chief executive.
Nicolas Massard, a partner at Abry, will join the company’s board, while NBCUniversal's streaming service Peacock will remain a shareholder, the company said.
HARTBEAT has more than 60 projects with 15 entertainment partners in various stages of development or production. It has strategic partnerships with Peacock, Netflix and Audible, among others.
“The creation of HARTBEAT and our capital raise with Abry represent a new era in comedy. This all started out with a mission to keep the world laughing together and I’m so proud our teams have delivered on that, putting in the hard work to build the most innovative and inclusive comedic storytelling company,” Hart said.
“With this merger and funding, we’re taking the new blueprint we’ve built in entertainment to the next level and creating opportunities for a new generation of comedic talent. I can’t wait to bring the world more comedians, experiences, and stories with humour and heart.”
Hart’s movies have earned more than $3.3bn. He is the star of films such as Jumanji: Welcome to the Jungle, Ride Along and The Upside.
Hart, 42, has also put out music under the name Chocolate Droppa and endorsed brands such as the retailer Macy’s. He revealed last year he has partnered with Yas Island.
The new deal will see his net worth increase to an estimated $400m, according to wealth tracking website Celebrity Net Worth. As one of the world’s highest-earning comedians, Hart took home $39m in 2019, Forbes magazine reported.
Thomas Müller
Bayern Munich forward Thomas Müller is the latest celebrity to back vegan meat products, with an investment in food technology start-up Greenforce, the company said.
He joins several prominent local investors in the company since the end of last year, following the successful placement of a capital increase of €15m ($15.92m). The investments will go towards research and development and business growth.
“I’m excited to become part of the Greenforce success story,” Müller said.
“Greenforce gives each of us the opportunity to make our nutrition more sustainable, healthier and yet incredibly delicious. My involvement is to help Greenforce become a leader in this future-oriented market as quickly as possible.”
The size of his investment was not disclosed.
Also last week, the German national player agreed to a two-year extension of his contract with Bayern Munich to the summer of 2024, the club confirmed.
The 32 year old is one of the club’s best-paid players, with an annual salary of up to €20m. He has been with Bayern since the age of 10.
Müller’s net worth is estimated at $55m, according to Celebrity Net Worth.
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Global state-owned investor ranking by size
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More on Palestine-Israeli relations
'The Sky is Everywhere'
Director:Josephine Decker
Stars:Grace Kaufman, Pico Alexander, Jacques Colimon
Rating:2/5
Torbal Rayeh Wa Jayeh
Starring: Ali El Ghoureir, Khalil El Roumeithy, Mostafa Abo Seria
Stars: 3
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
UAE currency: the story behind the money in your pockets
if you go
The flights
Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.
The hotel
Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.
The tour
Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
Leaderboard
63 - Mike Lorenzo-Vera (FRA)
64 - Rory McIlroy (NIR)
66 - Jon Rahm (ESP)
67 - Tom Lewis (ENG), Tommy Fleetwood (ENG)
68 - Rafael Cabrera-Bello (ESP), Marcus Kinhult (SWE)
69 - Justin Rose (ENG), Thomas Detry (BEL), Francesco Molinari (ITA), Danny Willett (ENG), Li Haotong (CHN), Matthias Schwab (AUT)
Abu Dhabi Sustainability Week
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ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
Russia's Muslim Heartlands
Dominic Rubin, Oxford
Seemar’s top six for the Dubai World Cup Carnival:
1. Reynaldothewizard
2. North America
3. Raven’s Corner
4. Hawkesbury
5. New Maharajah
6. Secret Ambition
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
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What are the influencer academy modules?
- Mastery of audio-visual content creation.
- Cinematography, shots and movement.
- All aspects of post-production.
- Emerging technologies and VFX with AI and CGI.
- Understanding of marketing objectives and audience engagement.
- Tourism industry knowledge.
- Professional ethics.
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Globalization and its Discontents Revisited
Joseph E. Stiglitz
W. W. Norton & Company
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
MISSION: IMPOSSIBLE – FINAL RECKONING
Director: Christopher McQuarrie
Starring: Tom Cruise, Hayley Atwell, Simon Pegg
Rating: 4/5
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Day 5, Dubai Test: At a glance
Moment of the day Given the problems Sri Lanka have had in recent times, it was apt the winning catch was taken by Dinesh Chandimal. He is one of seven different captains Sri Lanka have had in just the past two years. He leads in understated fashion, but by example. His century in the first innings of this series set the shock win in motion.
Stat of the day This was the ninth Test Pakistan have lost in their past 11 matches, a run that started when they lost the final match of their three-Test series against West Indies in Sharjah last year. They have not drawn a match in almost two years and 19 matches, since they were held by England at the Zayed Cricket Stadium in Abu Dhabi in 2015.
The verdict Mickey Arthur basically acknowledged he had erred by basing Pakistan’s gameplan around three seam bowlers and asking for pitches with plenty of grass in Abu Dhabi and Sharjah. Why would Pakistan want to change the method that has treated them so well on these grounds in the past 10 years? It is unlikely Misbah-ul-Haq would have made the same mistake.
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Cracks in the Wall
Ben White, Pluto Press
SCHEDULE FOR SHOW COURTS
Centre Court - from 4pm (UAE time)
Angelique Kerber (1) v Irina Falconi
Martin Klizan v Novak Djokovic (2)
Alexandr Dolgopolov v Roger Federer (3)
Court One - from 4pm
Milos Raonic (6) v Jan-Lennard Struff
Karolina Pliskova (3) v Evgeniya Rodina
Dominic Thiem (8) v Vasek Pospisil
Court Two - from 2.30pm
Juan Martin Del Potro (29) v Thanasi Kokkinakis
Agnieszka Radwanska (9) v Jelena Jankovic
Jeremy Chardy v Tomas Berdych (11)
Ons Jabeur v Svetlana Kuznetsova (7)
BeIN Sports currently has the rights to show
- Champions League
- English Premier League
- Spanish Primera Liga
- Italian, French and Scottish leagues
- Wimbledon and other tennis majors
- Formula One
- Rugby Union - Six Nations and European Cups
MORE ON CORONAVIRUS & THE ECONOMY
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
The Details
Kabir Singh
Produced by: Cinestaan Studios, T-Series
Directed by: Sandeep Reddy Vanga
Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa
Rating: 2.5/5
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
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Earth under attack: Cosmic impacts throughout history
- 4.5 billion years ago: Mars-sized object smashes into the newly-formed Earth, creating debris that coalesces to form the Moon
- 66 million years ago: 10km-wide asteroid crashes into the Gulf of Mexico, wiping out over 70 per cent of living species – including the dinosaurs.
- 50,000 years ago: 50m-wide iron meteor crashes in Arizona with the violence of 10 megatonne hydrogen bomb, creating the famous 1.2km-wide Barringer Crater
- 1490: Meteor storm over Shansi Province, north-east China when large stones “fell like rain”, reportedly leading to thousands of deaths.
- 1908: 100-metre meteor from the Taurid Complex explodes near the Tunguska river in Siberia with the force of 1,000 Hiroshima-type bombs, devastating 2,000 square kilometres of forest.
- 1998: Comet Shoemaker-Levy 9 breaks apart and crashes into Jupiter in series of impacts that would have annihilated life on Earth.
-2013: 10,000-tonne meteor burns up over the southern Urals region of Russia, releasing a pressure blast and flash that left over 1600 people injured.
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
SPAIN SQUAD
Goalkeepers Simon (Athletic Bilbao), De Gea (Manchester United), Sanchez (Brighton)
Defenders Gaya (Valencia), Alba (Barcelona), P Torres (Villarreal), Laporte (Manchester City), Garcia (Manchester City), D Llorente (Leeds), Azpilicueta (Chelsea)
Midfielders Busquets (Barcelona), Rodri (Manchester City), Pedri (Barcelona), Thiago (Liverpool), Koke (Atletico Madrid), Ruiz (Napoli), M Llorente (Atletico Madrid)
Forwards: Olmo (RB Leipzig), Oyarzabal (Real Sociedad), Morata (Juventus), Moreno (Villarreal), F Torres (Manchester City), Traore (Wolves), Sarabia (PSG)
