Hip-hop musician Shawn “Jay-Z” Carter has become the latest celebrity backer of the online watch market after taking an equity stake in luxury trading platform Wristcheck.
Jay-Z, a well-known collector of rare and valuable watches from brands including Patek Philippe, Audemars Piguet and Richard Mille, participated in a recent funding round of about $5 million, according to the Hong Kong-based company.
The rapper joins a slew of other celebrity watch trading investors. Football superstar Cristiano Ronaldo and F1 driver Charles Leclerc are both investors in Chrono24, the biggest dedicated online watch-trading platform, while its US rival Bezel has attracted celebrity backers including Kevin Hart, John Legend and J Balvin.
Founded in 2020 by watch collector and Instagram influencer-turned-chief executive Austen Chu, Wristcheck is targeting buyers and sellers of high-end timepieces in Asia and also provides authentication services to eliminate fakes.
The company has so far raised about $13.6 million.
Jay-Z joined Alibaba Entrepreneurs Fund, Gobi Partners GBA and K3 Ventures in Wristcheck’s pre-series A funding.
“As an entrepreneur, Jay-Z has always been an inspiration to me,” Mr Chu said in a statement.
“I remember growing up to his music – his lyrics not only introduced me to watch brands like Audemars Piguet, but also fuelled my love for watches even further, as he bridged the gap between watches and pop culture.”
The Empire State of Mind hitmaker has a net worth estimated at $2 billion, derived from music sales and business investments, according to wealth tracking platform Celebrity Net Worth.
Besides record sales of more than 100 million, Jay-Z’s main sources of revenue have been his beverage start-ups and investments, including the Armand de Brignac and D'Usse brands, and streaming service Tidal.
In recent years, he has sold controlling stakes in all three to corporations, including LVMH, Bacardi and mobile payments company Square.
As the founder of Macy Venture Partners, his other investments include blockchain platform Alchemy, wellness company Therabody and alternative meat company Impossible Foods, according to investor website Crunchbase.
He has also exited investments in mobile apps Uber and JetSmarter, which likely boosted his fortune by more than $1 billion from 2022.
Jay-Z also co-owns entertainment agency Roc Nation with concert business Live Nation.
The rapper and his wife Beyoncé Knowles have a combined net worth of $2.6 billion, according to Celebrity Net Worth.
Together, Beyonce and Jay-Z own at least $350 million worth of property in the US.
Amitabh Bachchan
Bollywood actor Amitabh Bachchan has bought two apartments in a residential project in Mumbai’s Borivali suburb where his son Abhishek Bachchan recently acquired six apartments, according to Indian media reports.
The deal comes immediately after the actor recently purchased three more office properties in a commercial project in Mumbai’s western suburb of Andheri for 600 million Indian rupees ($7.2 million).
Bachchan, 81, purchased apartments in Borivali worth nearly 70 million Indian rupees from Incline Realty, a subsidiary of Oberoi Realty.
These apartments spread over 2,188 square feet are located on the 57th floor of the tower, the same floor where his son’s apartments are situated.
Bachchan is reported to have a net worth of $400 million, according to Celebrity Net Worth.
Over the years, the veteran actor has become involved in a range of business ventures.
In 2013, he purchased a 10 per cent stake in Indian technology company Justdial. Over the years, his initial investment led to significant gains.
He also has a 3.4 per cent stake in cloud computing company Stampede Capital.
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His family owns about $250,000 worth of shares in Meridian Tech, a US-based consulting company, Celebrity Net Worth said.
Bachchan has an extensive real estate portfolio with multiple properties in India. He owns five bungalows within the Juhu-Vile Parle Development Scheme of Mumbai.
In 2023, Bachchan and his wife, Jaya Bachchan, gave their Pratiksha bungalow, the first of their five family homes in Juhu, to their 49-year-old daughter Shweta Nanda as a gift, the Hindustan Times reported.
Pratiksha was the first bungalow the couple purchased shortly after the success of his blockbuster Sholay was released in 1975.
One of their bungalows was leased to Citibank for a considerable rental income. Citibank vacated the property in June 2019 after the expiry of the lease, according to the HT.
The same property has now been leased to State Bank of India for 1.89 million rupees a month for 15 years, the daily reported in 2021.
The actor reportedly also owns a number of agricultural land plots in Bhopal, Barabanki and Lucknow.
Bachchan has acted in more than 200 films in a career spanning more than five decades.
Michael Douglas and Catherine Zeta-Jones
Hollywood couple Michael Douglas and Catherine Zeta-Jones have listed their mansion in Westchester county, New York, for $12 million, Celebrity Net Worth reported.
The couple bought the property for $4.5 million in 2019.
The nearly 12,000 square foot home with eight bedrooms and 12 baths, which is built in a Georgian architectural style, also boasts 130 feet of Hudson River frontage.
Zeta-Jones said in a statement: “When I purchased our Irvington home, I knew our family would share many happy times here, and we have! Now that both our son and daughter have left the nest, it seems like the right time to sell.”
In addition to the property’s current famous owners, it also once belonged to Charles Lewis Tiffany, founder of the Tiffany & Co, according to the website.
The couple also own a large apartment in New York City with views of Central Park.
The Wall Street actor, 79, and Zeta Jones, 54, are estimated to have a combined net worth of $350 million.
Douglas owns a valuable real estate portfolio with assets globally. One of his most impressive properties is a 250-acre estate on the coast of Spain, which he bought in 1990 for $3.5 million, Celebrity Net Worth said.
A significant portion of Zeta-Jones' net worth comes from her various brand endorsements over the years.
In 2002, she became a global ambassador for cosmetics company Elizabeth Arden. Later that year, she signed a contract with T-Mobile for a reported sum of $10 million per year. This was one of the biggest endorsement deals at the time for any celebrity.
In 2017, Zeta-Jones launched her own line of home decor items.
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5) Don't be rushed into a sale
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What should do investors do now?
What does the S&P 500's new all-time high mean for the average investor?
Should I be euphoric?
No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.
So what happened?
It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.
"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."
Should I buy? Should I sell?
Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.
"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.
All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.
Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.
Will the rally last?
No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.
"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."
What is a rare disease?
A rare disease is classified as one that affects a small percentage of the population. More than 7,000 diseases are identified as rare and most are genetic in origin. More than 75 per cent of rare genetic diseases affect children.
Collectively rare diseases affect 1 in 17 people, or more than 400 million people worldwide. Very few have any available treatment and most patients struggle with numerous health challenges and life-long ailments that can go undiagnosed for years due to lack of awareness or testing.
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