Portuguese football striker Cristiano Ronaldo is buying a stake in Chrono24, the world’s largest online marketplace for the purchase and sale of luxury watches.
The company, which is marking its 20th year in business, retails a variety of luxury new, used and vintage watches, as well as accessories.
It made the announcement on Instagram on Wednesday with a picture of the football player and the digital platform's co-chief executive and founder Tim Stracke.
“As an athlete it takes him roughly 90 minutes to win. As an obsessive watch collector, he did it in seconds. Watch lovers all over the world, we have amazing news for you: Cristiano Ronaldo, the football unicorn just joined Chrono24 as shareholder,” the online marketplace said.
“His passion for timepieces met his business genius and he’s taking both to the next level. It’s a big day for us and our community, whose love for watches knows no bounds. A victory for the art itself. And a proof that dreams can be achieved with feet, brains and infinite devotion.”
The value of the investment was not disclosed.
Previous Chrono24 investors include Bernard Arnault’s family investment company, Aglae Ventures, General Atlantic, Insight Partners and Sprints Capital – who together led Chrono24’s series C round in August 2021, worth $118 million, which valued the marketplace at more than $1 billion.
Other investors in Chrono24 include Sprints Capital, former Richemont director Gianni Serazzi and Yoox-Net-a-Porter founder Alberto Grignolo.
Chrono24 has more than 530,000 watches from 3,000-plus dealers and 30,000 private sellers across 120 countries. The portal reaches more than nine million unique visitors per month.
Ronaldo, 38, who is known by fans as CR7, became the first footballer to cross $1 billion in career earnings in 2020.
He is an avid watch collector. His collection includes a rare $2 million Girard-Perregaux Planetarium Tri-Axial, as well as numerous pieces from Jacob & Co, Rolex, Breguet, Cartier, Franck Muller, Hublot, Van Cleef & Arpels, among others.
“No one brings passion for luxury watches to the world stage quite like Cristiano,” Mr Stracke said.
“He has already solidified his place as one of the greatest athletes in history and, as an investor, shows astute knowledge of world-class luxury and technology.
“That, coupled with his authentic, proven passion for watch-collecting, makes him the perfect teammate as our company moves further into global expansion and our next chapter.”
The football star's lifetime earnings are estimated at about $1.24 billion, after reaping in $136 million last year, according to Forbes. He has a net worth of $500 million after tax, according to wealth tracking website Celebrity Net Worth.
“As a long-term watch collector and regular user of Chrono24, it’s a pleasure for me to become a shareholder in the company now,” Ronaldo said.
“Chrono24 unites millions of watch lovers from all around the world to share in their passion, together – that global unification is something I know well and am thrilled to be a part of.”
He has a lifetime deal with Nike and earns money off the pitch through his CR7-brands.
The five time Ballon d’Or winner is an investor in CR7 Hotels, a joint venture he struck with Pestana Hotel Group, a Portuguese company that was rebranded Pestana CR7.
The athlete who has more than 850 million social media followers, also owns the CR7 Denim brand, as well as other clothing lines. He also has a collaboration with perfume company Eden Parfums that sells his CR7 Fragrances line.
Ronaldo has also teamed up with Mabel Hospitality, the arm of Mabel Capital, a private investment firm owned by business partners Manuel Campos Guallar, Abel Matutes Prats and tennis star Rafael Nadal.
The company focuses on the development of restaurant brands such as Tatel and Toto, with locations in Abu Dhabi, Bahrain, Beverly Hills, Doha, Ibiza, Madrid, Riyadh, Mexico City and Valencia.
Other investments by the athlete include CR7 Crunch Fitness, a franchise of fitness centres.
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
Grand Slam Los Angeles results
Men:
56kg – Jorge Nakamura
62kg – Joao Gabriel de Sousa
69kg – Gianni Grippo
77kg – Caio Soares
85kg – Manuel Ribamar
94kg – Gustavo Batista
110kg – Erberth Santos
Women:
49kg – Mayssa Bastos
55kg – Nathalie Ribeiro
62kg – Gabrielle McComb
70kg – Thamara Silva
90kg – Gabrieli Pessanha
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.
UNpaid bills:
Countries with largest unpaid bill for UN budget in 2019
USA – $1.055 billion
Brazil – $143 million
Argentina – $52 million
Mexico – $36 million
Iran – $27 million
Israel – $18 million
Venezuela – $17 million
Korea – $10 million
Countries with largest unpaid bill for UN peacekeeping operations in 2019
USA – $2.38 billion
Brazil – $287 million
Spain – $110 million
France – $103 million
Ukraine – $100 million
RESULTS
Manchester United 2
Anthony Martial 30'
Scott McTominay 90 6'
Manchester City 0
Apple%20Mac%20through%20the%20years
%3Cp%3E1984%20-%20Apple%20unveiled%20the%20Macintosh%20on%20January%2024%3Cbr%3E1985%20-%20Steve%20Jobs%20departed%20from%20Apple%20and%20established%20NeXT%3Cbr%3E1986%20-%20Apple%20introduced%20the%20Macintosh%20Plus%2C%20featuring%20enhanced%20memory%3Cbr%3E1987%20-%20Apple%20launched%20the%20Macintosh%20II%2C%20equipped%20with%20colour%20capabilities%3Cbr%3E1989%20-%20The%20widely%20acclaimed%20Macintosh%20SE%2F30%20made%20its%20debut%3Cbr%3E1994%20-%20Apple%20presented%20the%20Power%20Macintosh%3Cbr%3E1996%20-%20The%20Macintosh%20System%20Software%20OS%20underwent%20a%20rebranding%20as%20Mac%20OS%3Cbr%3E2001%20-%20Apple%20introduced%20Mac%20OS%20X%2C%20marrying%20Unix%20stability%20with%20a%20user-friendly%20interface%3Cbr%3E2006%20-%20Apple%20adopted%20Intel%20processors%20in%20MacBook%20Pro%20laptops%3Cbr%3E2008%20-%20Apple%20introduced%20the%20MacBook%20Air%2C%20a%20lightweight%20laptop%3Cbr%3E2012%20-%20Apple%20launched%20the%20MacBook%20Pro%20with%20a%20retina%20display%3Cbr%3E2016%20-%20The%20Mac%20operating%20system%20underwent%20rebranding%20as%20macOS%3Cbr%3E2020%20-%20Apple%20introduced%20the%20M1%20chip%20for%20Macs%2C%20combining%20high%20performance%20and%20energy%20efficiency%3Cbr%3E2022%20-%20The%20M2%20chip%20was%20announced%3Cbr%3E2023%20-The%20M3%20line-up%20of%20chip%20was%20announced%20to%20improve%20performance%20and%20add%20new%20capabilities%20for%20Mac.%3C%2Fp%3E%0A
How being social media savvy can improve your well being
Next time when procastinating online remember that you can save thousands on paying for a personal trainer and a gym membership simply by watching YouTube videos and keeping up with the latest health tips and trends.
As social media apps are becoming more and more consumed by health experts and nutritionists who are using it to awareness and encourage patients to engage in physical activity.
Elizabeth Watson, a personal trainer from Stay Fit gym in Abu Dhabi suggests that “individuals can use social media as a means of keeping fit, there are a lot of great exercises you can do and train from experts at home just by watching videos on YouTube”.
Norlyn Torrena, a clinical nutritionist from Burjeel Hospital advises her clients to be more technologically active “most of my clients are so engaged with their phones that I advise them to download applications that offer health related services”.
Torrena said that “most people believe that dieting and keeping fit is boring”.
However, by using social media apps keeping fit means that people are “modern and are kept up to date with the latest heath tips and trends”.
“It can be a guide to a healthy lifestyle and exercise if used in the correct way, so I really encourage my clients to download health applications” said Mrs Torrena.
People can also connect with each other and exchange “tips and notes, it’s extremely healthy and fun”.
The biog:
From: Wimbledon, London, UK
Education: Medical doctor
Hobbies: Travelling, meeting new people and cultures
Favourite animals: All of them
Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
2019 Asian Cup final
Japan v Qatar
Friday, 6pm
Zayed Sports City Stadium, Abu Dhabi
THE TWIN BIO
Their favourite city: Dubai
Their favourite food: Khaleeji
Their favourite past-time : walking on the beach
Their favorite quote: ‘we rise by lifting others’ by Robert Ingersoll
BRIEF SCORES:
Toss: Nepal, chose to field
UAE 153-6: Shaiman (59), Usman (30); Regmi 2-23
Nepal 132-7: Jora 53 not out; Zahoor 2-17
Result: UAE won by 21 runs
Series: UAE lead 1-0
What can you do?
Document everything immediately; including dates, times, locations and witnesses
Seek professional advice from a legal expert
You can report an incident to HR or an immediate supervisor
You can use the Ministry of Human Resources and Emiratisation’s dedicated hotline
In criminal cases, you can contact the police for additional support
