Celebrity Net Worth: Lionel Messi kicks off new investment company
In our fortnightly celebrity investment and wealth round-up, Cher hopes to sell her Malibu home for $85m and cricketer MS Dhoni invests in a plant-based protein brand
Play Time, based in California, is a partnership between the Messi Group and Silicon Valley executives Razmig Hovaghimian and Michael Marquez. The company will look to invest in promising teams and football technology start-ups.
“I am excited to extend our roots into Silicon Valley, and I am thrilled that Play Time will collaborate with daring entrepreneurs from all over the world,” Messi, 35, told Bloomberg.
“I hope that through its success, Play Time will help many people and have a positive impact on the world. I trust in the team and our partners to achieve our objectives.”
Play Time has already incubated a games studio called Matchday.com. Currently in stealth mode, it will be launched before the 2022 World Cup finals in Doha.
The company will also invest in AC Momento, a football marketplace that auctions match-worn shirts from leading players and clubs.
Morado, a seed-stage fund focused on early stage investments, is also involved in Play Time.
The Argentina and Paris Saint-Germain player has been rated this year’s highest-paid athlete by Forbes magazine after he grossed $130 million in pre-tax earnings in the year to May.
While Messi commands a lower salary at PSG than he did at FC Barcelona, he is still expected to finish the current season with $110m, the magazine said. About $55m is expected to come from off-field income in the form of endorsements.
Messi has a net worth estimated at $600m, according to wealth tracking website Celebrity Net Worth.
US singer Cher, 76, has a net worth estimated in excess of $360 million, according to Celebrity Net Worth. AFP
Cher
US singer Cher has put her Malibu, California, mansion on the market for $85m. If successful, the sale would represent an increase of about 3,000 per cent on the 1989 purchase price of $2.95m.
The I Got You, Babe singer has put the seven-bedroom home on the market for a second time after first attempting to sell it for $45m in 2009.
The home has a meditation room, panic room, a climate-controlled room for the singer’s wigs, a guesthouse, tennis court and infinity pool. The property is inspired by the Italian city of Venice, but also features Turkish and Moroccan touches.
“From every room, there is an ocean view,” the singer and actress told The Wall Street Journal in an email confirming the listing.
Cher, 76, has a net worth estimated at more than $360m, according to Celebrity Net Worth.
The daughter of a lorry driver and a fashion model has earned those millions over six decades in entertainment.
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Watch: Cher saves world's loneliest elephant
She has released 41 studio and compilation albums, totalling sales in excess of 100 million as a solo artist, and a further 40 million with her former husband, Sonny Bono. Her hit Believe has sold more than 11 million copies.
Cher has had successful stints in film, theatre, variety television and infomercials. She has received more than 300 awards, including an Oscar for her role in Moonstruck, a Grammy for Believe and an Emmy for her 2003 Farewell Tour live video.
She has ventured into the world of fashion, starring in campaigns and collaborating on garment lines, including for Versace and Dsquared2. She has also launched two fragrances.
Cher is also an activist and philanthropist, running the Cher Charitable Foundation dedicated to supporting disenfranchised populations.
Outside entertainment, she has been a real estate investor, buying and selling property across the US.
Cricketer Mahendra Singh Dhoni has invested in faux meat brand Shaka Harry. Sportzpics for IPL
MS Dhoni
Mahendra Singh Dhoni, the former captain of the Indian cricket team, has invested in packaged faux meat brand Shaka Harry, the company said.
“I love everything chicken but increasingly, I am looking at a more balanced diet,” Dhoni said in a report published by the Hindu Businessline newspaper.
“For a growing population, current protein sources aren’t sustainably as scalable. We now have a choice to shift to smarter protein alternatives without compromising on taste and texture. The plant protein segment is an exciting consumer space.”
The Bengaluru-based company recently raised $2m in seed funding from Indian and international investors, including Panthera Peak Ventures, Better Bite Ventures and Blue Horizon.
The company is part of a market that is expected to grow to 1.9 billion Indian rupees (about $23m) by 2030 within India, according to Deloitte.
Dhoni, 41, has a net worth of $180m, according to Celebrity Net Worth.
He has represented India from 2004 to 2019, leading the nation’s team to a number of victories, including the 2007 ICC World Twenty20, the 2011 ICC Cricket World Cup, the 2013 ICC Champions Trophy and the 2010 and 2016 Asia Cups.
Between 2013 and 2015, Dhoni reportedly earned an average of $31m annually.
He has supplemented his income from cricket with numerous endorsement deals, including Colgate, Mastercard India and GoDaddy. His fees run to anywhere between 350m rupees and 600m rupees per year, according to the Financial Express newspaper.
Dhoni often takes a stake in the companies he endorses, including beverage brand Copter 7, drone start-up Garuda Aerospace and used-car marketplace Cars24.
The cricketer owns sports teams, including hockey team Ranchi Rays and the Chennai-based football club Chennaiyin FC.
He also runs a film and documentary production company, Dhoni Entertainment, and owns the footwear division of Indian casual wear brand Seven.
Dhoni has homes in Mumbai and Pune in the state of Maharashtra, and a farmhouse in Ranchi, Bihar, according to Celebrity Net Worth.
Cindy Crawford and Rande Gerber, who have been married for 24 years, are worth a combined $400 million, according to estimates by Celebrity Net Worth. EPA
Cindy Crawford
Supermodel Cindy Crawford has joined a $70m series A funding round for healthcare start-up Prenuvo, the company said.
Crawford's husband, Rande Gerber, also participated in the round, alongside Google’s Eric Schmidt, Nest founder Tony Fadell and Anne Wojcicki, chief executive of 23&Me.
The company specialises in advanced, radiation-free whole-body imaging for early detection of cancer and other diseases. A single hour-long Prenuvo scan covers 26 regions and organs of the body and screens for more than 500 conditions, including most solid tumours, while the cost is less than that of traditional MRI screenings, the company said.
The equity and debt funding was led by Felicis Ventures. Prenuvo will use the funds to invest in its artificial intelligence and radiology ventures as well as to add more clinics across the US.
Crawford and Gerber, who have been married for 24 years, are worth a combined $400m, according to estimates by Celebrity Net Worth.
Both former models, they have bought and sold many homes in California, New York City and Baja California, Mexico, over the years.
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Kaia Gerber emulates her mum Cindy Crawford's famous pose — in pictures
Kaia Gerber emulates her mum Cindy Crawford's famous pose, in the Versace spring/summer 2018 campaign shot by Steven Meisel
Naomi Campbell in the Versace spring/summer 2018 campaign shot by Steven Meisel
Gisele Bündchen in the Versace spring/summer 2018 campaign shot by Steven Meisel
Noah Luis Brown in the Versace spring/summer 2018 campaign shot by Steven Meisel
Christy Turlington in the Versace spring/summer 2018 campaign shot by Steven Meisel
Naomi Campbell in Versace ss18 campaign
Most recently, they sold their five-bedroom home in Beverly Hills for $13.5m to WhatsApp co-founder Jan Koum, according to Variety. The couple paid $11.6m for the property in September 2017.
They reportedly continue to own homes in Malibu and La Quinta, California, a waterfront property in Miami Beach, a condo in Manhattan and an island home in Ontario, Canada.
Both have also made private equity investments. Earlier this month, Crawford and Gerber joined a $26m funding round for home fitness brand Katalyst.
Last year, the pair joined Venus Williams, Nick Jonas and others in investing in HumanCo, a holding company for health and wellness brands.
TOURNAMENT INFO
Women’s World Twenty20 Qualifier
Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
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.”
Starring: Jamie Foxx, Angela Bassett, Tina Fey
Directed by: Pete Doctor
Rating: 4 stars
What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
The biog
Age: 35
Inspiration: Wife and kids
Favourite book: Changes all the time but my new favourite is Thinking, Fast and Slow by Daniel Kahneman
Best Travel Destination: Bora Bora , French Polynesia
Favourite run: Jabel Hafeet, I also enjoy running the 30km loop in Al Wathba cycling track
Tributes from the UAE's personal finance community
• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style
“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.
Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term.
From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”
• Sam Instone, director of financial advisory firm AES International
"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed. Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."
• Demos Kyprianou, a board member of SimplyFI.org
"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."
"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.
His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.
Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."
"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen. He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”
• Tuan Phan, a board member of SimplyFI.org
"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."
North Pole stats
Distance covered: 160km
Temperature: -40°C
Weight of equipment: 45kg
Altitude (metres above sea level): 0
Terrain: Ice rock
South Pole stats
Distance covered: 130km
Temperature: -50°C
Weight of equipment: 50kg
Altitude (metres above sea level): 3,300
Terrain: Flat ice
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
