Michael Jordan
Basketball star Michael Jordan has shown how an astute investment can turn into a multibillion-dollar payout.
The athlete-turned-businessman has agreed to sell the bulk of his majority stake in the NBA’s Charlotte Hornets team to an investment consortium, the team announced last week.
The financial terms of the deal were not disclosed and Jordan’s exact stake is unknown. However, sources close to the deal put Jordan’s payout at about $3 billion, according to media reports.
He bought the team for $275 million in 2010 from BET cable television’s Bob Johnson and will retain a minority stake in the franchise.
Michael Jordan's Dynasty Collection at Sotheby's – in pictures
Jordan, 60, is the richest former professional athlete in the world. Before the Charlotte Hornets' sale, he had a net worth of $2 billion, according to Forbes magazine.
The six-time NBA champion and Olympic gold medallist was one of the first athletes to turn his name into a branded business, teaming up with Nike to launch the Air Jordan trainers in 1984.
Jordan and Nike subsequently launched the Jordan Brand, releasing shoes and apparel, including with other popular artists. The partnership brought in $5.1 billion in 2022, according to Front Office Sports, with the athlete earning 5 per cent of that total, or $256.1 million.
During his career, Jordan endorsed brands such as Gatorade, Hanes and McDonald’s. About $1.8 billion of his total earnings comes from endorsement and corporate equity deals, Forbes estimates.
Off the court, he owns several restaurants, including the upscale Michael Jordan’s Restaurant in Chicago, a chain of steakhouses in Connecticut, Washington state and Chicago, as well as other brands such as 1000 North in Jupiter, Florida.
Jordan's investments focus on sport and technology.
In March, he joined Kevin Durant and others in a $305 million funding round in Dapper Labs, the company behind virtual trading-card platform NBA Top Shot.
He has also invested in eSports company aXiomatic, estate planning FinTech Vanilla, NFT marketplace Metaplex, headphone brand Muzik, projects builder Gigster and Premier League side AFC Bournemouth.
Paul Simon
Grammy-winning musician Paul Simon has sold a “substantial stake” of his work to music label BMG, the company said last week.
The acquisition includes his royalty income in Simon & Garfunkel recordings, as well as his neighbouring rights, which are royalties from public performances of his songs.
The sale includes chart toppers such as The Sound Of Silence, Mrs Robinson, The Boxer and Bridge Over Troubled Water. The songs have been streamed hundreds of millions of times over the years.
The terms of the transaction were not made public.
The deal does not cover Simon’s solo work. He sold all his rights in his publishing catalogue to Sony Music Publishing in 2021 for about$250 million, according to Forbes.
“In any list of the true greats, Paul Simon stands as one of the pillars of popular music history. We will play our part to ensure his music continues to be honoured and respected,” said Thomas Scherer, president of repertoire and marketing at BMG.
MORE FROM CELEBRITY NET WORTH
Over the past few years, BMG has acquired the rights and/or royalties for work by artists such as Tina Turner, Motley Crue, John Legend, ZZ Top, Mick Fleetwood, Simple Minds, Primal Scream and, most recently, The Hollies.
Simon & Garfunkel were among the most successful acts of the 1960s, with more than 100 million records sold.
Simon, 81, has a net worth of $200 million, according to Celebrity Net Worth, which tracks the wealth of the rich and famous.
Income from record sales and tour tickets has contributed to that figure. Simon has sold about 30 million records as a solo artist.
His music attracts 9.1 million listeners on Spotify each month, while Simon & Garfunkel’s tracks average about 12 million monthly listeners on the platform.
Simon’s last tour in 2018 grossed more than $31 million, according to data tracker Pollstar.
Outside of music, Simon has largely invested in property. With his wife, singer Edie Brickell, they own properties in New York's Montauk village and a ranch in Allen, Texas, according to Celebrity Net Worth.
Sanjay Dutt
Bollywood actor Sanjay Dutt has invested in Indian beverage start-up Cartel & Bros.
The actor’s role in unclear but it appears likely that he will take an ambassadorial role.
“Happy to be a part of Cartel Brothers,” Dutt posted on Instagram. “Looking forward to working together on more product launches. Wishing everyone happiness and blessings.”
The company aims to make international beverages available at cheaper prices to a growing Indian market. It has leased a factory in Scotland to manufacture its products.
Dutt, 63, has a net worth of $30 million, according to Celebrity Net Worth.
His income stems principally from his work as an actor and producer on more than 100 films over a 40-year period.
Brand endorsements also contribute to his income, with Dutt reportedly charging more than 50 million Indian rupees ($607,000) a project.
He has recently begun investing in start-ups. A notable foray was Indian trainers marketplace DawnTown earlier this year.
Lewis Hamilton
Formula One driver Lewis Hamilton has reinvested in plant-based food brand Neat Burger in a recent series B round.
The round raised $18 million for the plant-based food group. The fundraising exercise was completed in October, the company said in a recent statement.
The company, which operates restaurants in the UAE, the UK and the US, is now valued at $100m. Its Dubai branch opened in October.
Actor Leonardo DiCaprio is also an investor in Neat Burger.
The round attracted the interest of notable new investors including US investment bank LionTree, New Theory Ventures, Real Madrid goalkeeper Thibaut Courtois and model and actress Sara Sampaio.
Neat Burger will use the funds to expand its global reach, with new outlets across the Middle East and in Europe, principally in Italy.
The brand aims to inspire consumers to adopt a meat-free and flexitarian lifestyle.
“The response to Neat Burger since we opened has been incredible. I’m really proud of the boundaries we have been able to push in this space and the plans for expansion are really exciting,” Hamilton said.
Hamilton, 38, has a net worth of $285 million, according to Celebrity Net Worth estimates.
The Mercedes driver earned $65 million in the 12 months to May, Forbes magazine estimates show.
However, his contract with Mercedes expires at the end of the 2023 season and a new deal has yet to be agreed.
There have been media reports of an offer from Ferrari but Hamilton has denied a move. He has repeated his desire to stay with Mercedes until the end of his career, perhaps even taking on an ambassadorial role after he retires.
It has been speculated that his new contract could run for two years for a total value of £100 million ($127.1 million).
Outside racing, Hamilton has been building a private equity investment portfolio.
He adopted a plant-based diet in 2017 and many of his investments align with the alternative foods philosophy, including Chilean vegan producer NotCo and supplements brand Athletic Greens.
UAE currency: the story behind the money in your pockets
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.
NYBL PROFILE
Company name: Nybl
Date started: November 2018
Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono
Based: Dubai, UAE
Sector: Software Technology / Artificial Intelligence
Initial investment: $500,000
Funding round: Series B (raising $5m)
Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Superpower%20
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ESean%20Penn%2C%20Aaron%20Kaufman%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E3%2F5%3C%2Fp%3E%0A
Top New Zealand cop on policing the virtual world
New Zealand police began closer scrutiny of social media and online communities after the attacks on two mosques in March, the country's top officer said.
The killing of 51 people in Christchurch and wounding of more than 40 others shocked the world. Brenton Tarrant, a suspected white supremacist, was accused of the killings. His trial is ongoing and he denies the charges.
Mike Bush, commissioner of New Zealand Police, said officers looked closely at how they monitored social media in the wake of the tragedy to see if lessons could be learned.
“We decided that it was fit for purpose but we need to deepen it in terms of community relationships, extending them not only with the traditional community but the virtual one as well," he told The National.
"We want to get ahead of attacks like we suffered in New Zealand so we have to challenge ourselves to be better."
if you go
The flights
Air Astana flies direct from Dubai to Almaty from Dh2,440 per person return, and to Astana (via Almaty) from Dh2,930 return, both including taxes.
The hotels
Rooms at the Ritz-Carlton Almaty cost from Dh1,944 per night including taxes; and in Astana the new Ritz-Carlton Astana (www.marriott) costs from Dh1,325; alternatively, the new St Regis Astana costs from Dh1,458 per night including taxes.
When to visit
March-May and September-November
Visas
Citizens of many countries, including the UAE do not need a visa to enter Kazakhstan for up to 30 days. Contact the nearest Kazakhstan embassy or consulate.
Mohammed bin Zayed Majlis
UAE currency: the story behind the money in your pockets
Spain drain
CONVICTED
Lionel Messi Found guilty in 2016 of of using companies in Belize, Britain, Switzerland and Uruguay to avoid paying €4.1m in taxes on income earned from image rights. Sentenced to 21 months in jail and fined more than €2m. But prison sentence has since been replaced by another fine of €252,000.
Javier Mascherano Accepted one-year suspended sentence in January 2016 for tax fraud after found guilty of failing to pay €1.5m in taxes for 2011 and 2012. Unlike Messi he avoided trial by admitting to tax evasion.
Angel di Maria Argentina and Paris Saint-Germain star Angel di Maria was fined and given a 16-month prison sentence for tax fraud during his time at Real Madrid. But he is unlikely to go to prison as is normal in Spain for first offences for non-violent crimes carrying sentence of less than two years.
SUSPECTED
Cristiano Ronaldo Real Madrid's star striker, accused of evading €14.7m in taxes, appears in court on Monday. Portuguese star faces four charges of fraud through offshore companies.
Jose Mourinho Manchester United manager accused of evading €3.3m in tax in 2011 and 2012, during time in charge at Real Madrid. But Gestifute, which represents him, says he has already settled matter with Spanish tax authorities.
Samuel Eto'o In November 2016, Spanish prosecutors sought jail sentence of 10 years and fines totalling €18m for Cameroonian, accused of failing to pay €3.9m in taxes during time at Barcelona from 2004 to 2009.
Radamel Falcao Colombian striker Falcao suspected of failing to correctly declare €7.4m of income earned from image rights between 2012 and 2013 while at Atletico Madrid. He has since paid €8.2m to Spanish tax authorities, a sum that includes interest on the original amount.
Jorge Mendes Portuguese super-agent put under official investigation last month by Spanish court investigating alleged tax evasion by Falcao, a client of his. He defended himself, telling closed-door hearing he "never" advised players in tax matters.
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Series information
Pakistan v Dubai
First Test, Dubai International Stadium
Sun Oct 6 to Thu Oct 11
Second Test, Zayed Stadium, Abu Dhabi
Tue Oct 16 to Sat Oct 20
Play starts at 10am each day
Teams
Pakistan
1 Mohammed Hafeez, 2 Imam-ul-Haq, 3 Azhar Ali, 4 Asad Shafiq, 5 Haris Sohail, 6 Babar Azam, 7 Sarfraz Ahmed, 8 Bilal Asif, 9 Yasir Shah, 10, Mohammed Abbas, 11 Wahab Riaz or Mir Hamza
Australia
1 Usman Khawaja, 2 Aaron Finch, 3 Shaun Marsh, 4 Mitchell Marsh, 5 Travis Head, 6 Marnus Labuschagne, 7 Tim Paine, 8 Mitchell Starc, 9 Peter Siddle, 10 Nathan Lyon, 11 Jon Holland
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
About Takalam
Date started: early 2020
Founders: Khawla Hammad and Inas Abu Shashieh
Based: Abu Dhabi
Sector: HealthTech and wellness
Number of staff: 4
Funding to date: Bootstrapped
Global state-owned investor ranking by size
|
1.
|
United States
|
|
2.
|
China
|
|
3.
|
UAE
|
|
4.
|
Japan
|
|
5
|
Norway
|
|
6.
|
Canada
|
|
7.
|
Singapore
|
|
8.
|
Australia
|
|
9.
|
Saudi Arabia
|
|
10.
|
South Korea
|
Match info
Costa Rica 0
Serbia 1
Kolarov (56')
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
World Cricket League Division 2
In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.
UAE fixtures
Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
US PGA Championship in numbers
1 Joost Luiten produced a memorable hole in one at the par-three fourth in the first round.
2 To date, the only two players to win the PGA Championship after winning the week before are Rory McIlroy (2014 WGC-Bridgestone Invitational) and Tiger Woods (2007, WGC-Bridgestone Invitational). Hideki Matsuyama or Chris Stroud could have made it three.
3 Number of seasons without a major for McIlroy, who finished in a tie for 22nd.
4 Louis Oosthuizen has now finished second in all four of the game's major championships.
5 In the fifth hole of the final round, McIlroy holed his longest putt of the week - from 16ft 8in - for birdie.
6 For the sixth successive year, play was disrupted by bad weather with a delay of one hour and 43 minutes on Friday.
7 Seven under par (64) was the best round of the week, shot by Matsuyama and Francesco Molinari on Day 2.
8 Number of shots taken by Jason Day on the 18th hole in round three after a risky recovery shot backfired.
9 Jon Rahm's age in months the last time Phil Mickelson missed the cut in the US PGA, in 1995.
10 Jimmy Walker's opening round as defending champion was a 10-over-par 81.
11 The par-four 11th coincidentally ranked as the 11th hardest hole overall with a scoring average of 4.192.
12 Paul Casey was a combined 12 under par for his first round in this year's majors.
13 The average world ranking of the last 13 PGA winners before this week was 25. Kevin Kisner began the week ranked 25th.
14 The world ranking of Justin Thomas before his victory.
15 Of the top 15 players after 54 holes, only Oosthuizen had previously won a major.
16 The par-four 16th marks the start of Quail Hollow's so-called "Green Mile" of finishing holes, some of the toughest in golf.
17 The first round scoring average of the last 17 major champions was 67.2. Kisner and Thorbjorn Olesen shot 67 on day one at Quail Hollow.
18 For the first time in 18 majors, the eventual winner was over par after round one (Thomas shot 73).
Roger Federer's 2018 record
Australian Open Champion
Rotterdam Champion
Indian Wells Runner-up
Miami Second round
Stuttgart Champion
Halle Runner-up
Wimbledon Quarter-finals
Cincinnati Runner-up
US Open Fourth round
Shanghai Semi-finals
Basel Champion
Paris Masters Semi-finals
Adele: The Stories Behind The Songs
Caroline Sullivan
Carlton Books
What is safeguarding?
“Safeguarding, not just in sport, but in all walks of life, is making sure that policies are put in place that make sure your child is safe; when they attend a football club, a tennis club, that there are welfare officers at clubs who are qualified to a standard to make sure your child is safe in that environment,” Derek Bell explains.
Mohammed bin Zayed Majlis
