Celebrity Net Worth: Lionel Messi seals $20m crypto deal

Lionel Messi

Argentine football star Lionel Messi has joined digital fan token creator Socios.com as its global brand ambassador. The Paris St-Germain and Argentine forward will promote the digital experience community to his 400 million followers over the next three years under the $20 million deal.

Messi, whose move from Barcelona in August included a cryptocurrency payment, will be involved in a publicity and promotion campaign for Socios in the build-up to the Qatar World Cup, which starts in November, Reuters reported. He becomes the latest athlete to enter the cryptocurrency world after NFL quarterback Tom Brady and NBA star LeBron James.

The deal does not include cryptocurrency payments to Messi.

“Since I played my first professional game, the passion of the fans has been a driving force that has helped inspire me to be my very best. Fans deserve to be recognised for their support. They deserve opportunities to influence the teams they love,” Messi said.

“Socios.com exists to enhance the fan experience, to enable fans to ‘be more’. I’m proud to join Socios.com’s mission to create a more connected and rewarding future for fans around the world.”

With an estimated 1.2 million users, Socios sells virtual tokens that allow sports fans to vote on club matters such as what to name a training ground. There are tokens for more than 130 sports and Socios has signed deals with a range of clubs, including Arsenal, Barcelona, Juventus and Manchester City.

Since I played my first professional game, the passion of the fans has been a driving force that has helped inspire me to be my very best

Lionel Messi,
footballer

Messi’s net worth has been estimated at $600m after career earnings in excess of $1 billion. He is thought to have earned a combined total salary of about $875m over his 21 years at FC Barcelona. A contract leak last year showed that Messi was able to earn up to $165m a year in salary, image rights and incentives.

Forbes magazine estimates that he earned $130m in 2021, second only to mixed-martial-arts star Conor McGregor.

Although football provides the major portion of Messi's income, endorsing companies such as Pepsi, Turkish Airlines and Adidas adds to his earnings. He has his own clothing line and opened his first retail outlet, the Messi Store, in 2019 in Barcelona.

Messi is also thought to own a sizeable real estate portfolio, with a home in Barcelona’s upmarket Castelldefels suburb, at least two homes in Rosario, Argentina, six properties in Italy, and a hotel worth €30m ($32.6m) in the Spanish tourist town of Sitges.

The Weeknd

Musicians everywhere are trading in virtual property assets such as NFTs, but one R&B star has been busy building a real-life real estate portfolio. The Weeknd, 32, now has a net worth of $600m, in part due to his property purchases, according to the Wall Street Journal.

The paper cited a source with knowledge of the musician’s finances.

Online, the Journal’s $600m figure is disputed, with alternative estimates of The Weeknd’s net worth ranging between $200m and $300m.

But the musician, whose real name is Abel Tesfaye — has a diverse range of income streams, including music production, investments and property.

Last week, he took part in a $5m seed-funding round in personalised song creation start-up Songfinch, alongside fellow musicians Quincy Jones and Amala “Doja Cat” Dlamini. The round was led by Chicago-based venture fund Corazon Capital.

The Weeknd’s investment comes after an earlier disbursement in Songfinch last July, when he took part in a $2m funding round.

In total, he has also invested in at least seven companies, according to investor intelligence platform Crunchbase.

Last year, he joined Salesforce founder, chairman and chief executive Marc Benioff in a $225m series D funding round in Forward Health. The San Francisco-based start-up offers preventive care using advanced medical technology such as biometric body scans and genetic and blood tests. The funding round resulted in the company being valued at $1bn, according to Reuters.

“I invested in Forward Health because I walked into the Los Angeles location and couldn’t believe what I saw: a state-of-the-art facility that looked like the exact opposite of what you would expect to see in a typical doctor’s office — with no waiting room and everyone being seen straight away,” The Weeknd said.

His other investments include gaming company Backbone, social media marketplace Pearpop and remittance start-up Pomelo.

The Weeknd's principal source of income is his music. Having begun his career releasing tracks anonymously on YouTube, he has released five studio albums since 2013 and played six tours. He has since accumulated US sales of 13.5 million album units and 98 million digital single units, according to the Recording Industry Association of America.

In 2017, Forbes estimated his annual earnings at $92m. He scaled back his concert schedule in 2018, with only six shows in Asia and festivals such as Lollapalooza.

The Weeknd returns to the road with his first global stadium tour this year, beginning with a 19-stop tour across Canada and the US in the summer, with additional dates for Latin America, Asia, Europe, Australia, New Zealand, Africa and the Middle East to be announced soon.

Outside of music sales and tours, he is a music producer and co-founder of the XO record label.

The Weeknd has endorsed a wide range of brands, including Apple Music, H&M and Puma. He has previously collaborated with Marvel and has his own fashion label, also called XO.

In August, he bought a home worth about $70m in the Los Angeles district of Bel Air. In January, the Blinding Lights singer listed his penthouse at the ultra-luxury Beverly West condominium in Los Angeles for $22.5m. He purchased the four-bedroom, 8,000 square foot home in 2019 for $21m.

The same year, he also bought a mansion worth about $11m for his mother and signed the deposit cheque as “The Weeknd”.

In 2017, the Canadian star paid $18.2m for a 1,170-square-metre (12,600 square foot) property in the gated community of Hidden Hills, California. He put it on the market in 2020, finally selling the seven-bedroom home to pop star Madonna for $19.3m last April.

Nicola Peltz

Actor Nicola Peltz is reported to have signed a prenuptial agreement with chef and former footballer Brooklyn Beckham before their wedding on Saturday at her father’s home in Palm Beach, Florida.

The agreement protects the assets and finances of each partner in the event of a divorce. While Beckham is thought to have a net worth of $10m, his new wife is estimated to have five times that amount in net assets. Pletz's wealth comes principally from her modelling and acting career, including an appearance in Transformers: Age of Extinction and The Last Airbender.

She is also the daughter of billionaire activist investor Nelson Peltz, founder of investment company Trian Fund Management. The fund has $8.5bn in assets under management, according to Forbes.

Her brother, Will Peltz, is also an actor. By contrast, Beckham’s parents, British celebrity couple David and Victoria, are estimated to have a combined net worth of £380m ($498m).

The couple is understood to have few joint assets. In March, they sold their five-bedroom home in Beverly Hills for $11m, according to Hello magazine. They are reportedly scouting for a new home in Miami, where Beckham's parents own a $24m penthouse.

Gwyneth Paltrow

Actor Gwyneth Paltrow has made a name for herself as a retailer of controversial feminine hygiene products through her Goop website. Now, she has linked up with Drew Barrymore, Cameron Diaz, Carla Harris and others to invest in Evernow, a telehealth company that provides personalised prescription treatments and clinicians for menopausal and perimenopausal women.

The $28.5m series A funding round will be used to expand the team, enrol new members and strengthen product development.

Paltrow, 49, has invested in a dozen different companies, including The Expert, an online interior design consultation platform, and health beverage brand Olipop. In December, she participated in a $200m debt and equity financing round for TeraWulf, a crypto mining company that aims to produce Bitcoin using 100 per cent zero-carbon energy.

She is estimated to have a net worth of $150m, according to wealth tracking website Celebrity Net Worth.

The specs

Engine: 3.0-litre 6-cyl turbo

Power: 374hp at 5,500-6,500rpm

Torque: 500Nm from 1,900-5,000rpm

Transmission: 8-speed auto

Fuel consumption: 8.5L/100km

Price: from Dh285,000

On sale: from January 2022

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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

While you're here

National Editorial: World trade has started to look inwards

Callum Patton: ‘Arrival of Asian century’ has eclipsed US

Robin Mills: Importance of China's energy markets clearer

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

Is it worth it? We put cheesecake frap to the test.

The verdict from the nutritionists is damning. But does a cheesecake frappuccino taste good enough to merit the indulgence?

My advice is to only go there if you have unusually sweet tooth. I like my puddings, but this was a bit much even for me. The first hit is a winner, but it's downhill, slowly, from there. Each sip is a little less satisfying than the last, and maybe it was just all that sugar, but it isn't long before the rush is replaced by a creeping remorse. And half of the thing is still left.

The caramel version is far superior to the blueberry, too. If someone put a full caramel cheesecake through a liquidiser and scooped out the contents, it would probably taste something like this. Blueberry, on the other hand, has more of an artificial taste. It's like someone has tried to invent this drink in a lab, and while early results were promising, they're still in the testing phase. It isn't terrible, but something isn't quite right either.

So if you want an experience, go for a small, and opt for the caramel. But if you want a cheesecake, it's probably more satisfying, and not quite as unhealthy, to just order the real thing.

Baby Driver

Director: Edgar Wright

Starring: Ansel Elgort, Kevin Spacey, Jamie Foxx, Lily James

Three and a half stars

Keep it fun and engaging

Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.

“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.

His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.

He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.

Farage on Muslim Brotherhood

Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.

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

On Women's Day

Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action

Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?

Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'

The National Editorial: Is there much to celebrate on International Women's Day 2021?

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

La Mer lowdown

La Mer beach is open from 10am until midnight, daily, and is located in Jumeirah 1, well after Kite Beach. Some restaurants, like Cupagahwa, are open from 8am for breakfast; most others start at noon. At the time of writing, we noticed that signs for Vicolo, an Italian eatery, and Kaftan, a Turkish restaurant, indicated that these two restaurants will be open soon, most likely this month. Parking is available, as well as a Dh100 all-day valet option or a Dh50 valet service if you’re just stopping by for a few hours.

The Matrix Resurrections

Director: Lana Wachowski

Stars: Keanu Reeves, Carrie-Anne Moss, Jessica Henwick

Rating:****

While you're here

Kareem Shaheen: Even a pandemic could not unite today's America

Michele Wucker: The difference between a black swan and a grey rhino

Robert Matthews: Has flawed science and rushed research failed us?

While you're here

Gavin Esler: Will 2021 be Boris Johnson's worst year?

Thomas Harding: US relations with Europe could change

Brodie Owen: How England’s new lockdown rules work

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.”