Rafael Nadal
Whether or not Rafael Nadal makes another dollar off the gentleman’s sport, his post-tennis future is assured.
Although Nadal has had to sit out this year’s French Open, the tennis pro’s investment company Aspemir had a turnover of €20 million ($21.5 million) in 2021, according to Spanish newspaper El Pais, quoting registry filings.
The results include earnings of €11.4 million, a jump of 102 per cent compared with the same period in 2020.
Through Aspemir, the Spaniard controls 20 companies. His mother, Ana Maria Parera, is sole administrator and his father, Sebastian Nadal, is a proxy, the newspaper said.
Aspemir’s investments include the Tatel restaurant group, luxury property company Mabel, a sports complex in Nadal’s hometown of Manacor and several renewable energy ventures.
Nadal wins 2022 French Open – in pictures
The company also owns 18 properties, including sites in upmarket areas of Madrid and Barcelona.
Nadal has a net worth of €295 million, Spanish newspaper El Mundo calculated in February.
The figure represents a 31.1 per cent increase over the preceding 12 months, a difference of about €70 million.
In 2022, he earned $9.9 million from tournaments, including a 22nd Grand Slam title at the French Open.
Nadal is the 196th-richest person in Spain, according to El Mundo. However, he is one of the richest tennis players in the world.
ATP Tour data shows the clay-court specialist has earned $134.6 million over his 22-year career, putting him behind leader Novak Djokovic, whose tournament winnings totalled $167.2 million as of June 8.
Counting endorsements and appearance fees, Nadal’s career earnings amount to more than $500 million, according to Forbes magazine.
Among the major brands he has worked with are Nike, Kia, Babolat, Santander, Richard Mille, Lanvin and Emporio Armani.
Over a typical year, Nadal’s annual pre-tax earnings amount to about $40 million from all sources, according to wealth tracking website Celebrity Net Worth.
He has earned only $310,797 from tennis in 2023, having had to withdraw from most of this year’s tournaments due to long-standing injuries.
This month, he announced that surgery to fix a troublesome psoas muscle had been a success. With a recovery time of five months, Nadal, now 37, could begin the next chapter in his career before the Australian Open in January.
Before then, another business venture will boost his 2023 earnings.
Zel, the hotel brand he created with Melia Hotels International in December, will open its first hotel next month. The luxury Zel Mallorca hotel, located on a beach in Palmanova, will welcome guests from July 1.
Paris Hilton
Hotel heiress Paris Hilton has joined a $15 million investment round in automated savings app Checkmate.
The series A round was led by Google Ventures and included more than a dozen other investors and funds, including Hilton’s husband, Carter Reum, through his M13 Ventures company.
Mantis, the venture capital fund of electronic duo The Chainsmokers, and Trevor Neff of Ashton Kutcher’s Sound Ventures also joined the funding round, the company said in a recent blog post.
The US-based Checkmate automates shopping discounts for iPhone users via a Safari browser extension. The app uses online and email searches to improve mobile shopping at a time when e-commerce has become more personalised and regulators are strengthening customer privacy.
Since its launch last year, the app has hit number one in the Apple App Store, surpassing more than 380,000 users, including 55,000 daily active users.
This is its second funding round after a $5 million seed round in September.
Hilton, 42, has a net worth of $300 million. She is the great-granddaughter of Conrad Hilton, who founded the Hilton Hotel chain, but has reportedly received a fraction of the hotelier’s fortune.
Instead, she has turned a career as a model, actor, reality TV star, DJ and influencer into a revenue stream worth billions of dollars.
As of 2020, her 30 fragrances had generated more than $2.65 billion in gross revenue, according to Elle Canada magazine. Together with her other fashion and retail businesses, Paris Hilton-backed products have generated more than $4 billion in sales.
Through her company 11:11 Media, Hilton is also involved in a wide range of creative and technology ventures, including businesses in the digital, audio, film, television, licensing and metaverse space.
The Simple Life star has invested in at least 12 different companies, according to investor information platform Crunchbase.
The majority of these have been start-ups linked to the blockchain, web3 and metaverse environment, including video platform Shibuya and cryptocurrency payments company MoonPay.
Harry Kane
English Premier League star Harry Kane has invested in OxeFit, a robotics and artificial intelligence-based fitness technology start-up, the Texas-based company said.
The oversubscribed series A round was joined by several professional athletes, including golfers Dustin Johnson and Talor Gooch, Dallas Cowboys quarterback Dak Prescott and Miami Dolphins cornerback Jalen Ramsey.
The round brought in $20 million, according to market intelligence platform CB Insights. The size of Kane’s investment was not made public.
The real-time data that OxeFit machines provide can help stop or reduce injuries, Kane says.
“What impressed me most about OxeFit is not only the science behind the physical products, but the combination of robotics and content working together to deliver a truly customised training experience,” he says.
Kane, 29, has a net worth of £51 million ($63.9 million) as of May 2023, up from £42 million a year previously, according to The Sunday Times.
His income largely stems from his contract with Tottenham Hotspur, where he earns about £200,000 each week, or £10.4 million annually, as a striker under a six-year deal running until 2025.
Endorsements provide further income, notably from Nike, Gatorade and EA Sports.
Kane also has an extensive property portfolio valued at more than £13 million, according to the UK’s The Sun newspaper, which cited accounts for his company, Edward James Investments.
Leonardo DiCaprio
Joining the world’s billionaires in the new space race is Leonardo DiCaprio. The Academy award-winning actor recently invested in Earth observation and geospatial start-up Nuview, the company said last week.
It is the actor’s first investment into a space economy company, according to investor information website Pitchbook.
Using a network of 20 light detection and ranging technology satellites, Nuview aims to generate centimetre-level accurate representations of the Earth, to provide greater data clarity in the fight against climate change.
“Nuview’s cutting-edge technology will set itself apart by generating high-resolution, 3D images of the Earth's surface, intending to improve our ability to monitor and protect the planet with much more accuracy,” DiCaprio says.
“This unprecedented data set will help enable scientists, policymakers and conservationists to make more informed decisions and uncover valuable new insights in climate science.”
Watch: Leonardo DiCaprio at Cop26
The new outlay is rooted in DiCaprio’s broader investment approach.
The long-time climate change advocate supports a wide range of sustainability-focused ventures. These include alternative meat start-ups Aleph Farms, Beyond Meat and Mosa Meat, solar energy players Powerhive and Kingo Energy, and packaging substitute CruzFoam.
Last year, a climate fund he backs, Regeneration.VC, raised $45 million to help make sustainable consumer goods available to wider audiences.
DiCaprio, 48, has a net worth of $300 million, according to Celebrity Net Worth.
Match info
Uefa Champions League Group F
Manchester City v Hoffenheim, midnight (Wednesday, UAE)
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
Fourth Arab Economic and Social Development Summit
As he spoke, Mr Aboul Gheit repeatedly referred to the need to tackle issues affecting the welfare of people across the region both in terms of preventing conflict and in pushing development.
Lebanon is scheduled to host the fourth Arab Economic and Social Development Summit in January that will see regional leaders gather to tackle the challenges facing the Middle East. The last such summit was held in 2013. Assistant Secretary-General Hossam Zaki told The National that the Beirut Summit “will be an opportunity for Arab leaders to discuss solely economic and social issues, the conference will not focus on political concerns such as Palestine, Syria or Libya". He added that its slogan will be “the individual is at the heart of development”, adding that it will focus on all elements of human capital.
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Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
QUARTER-FINAL
Wales 20-19 France
Wales: T: Wainwright, Moriarty. Cons: Biggar (2) Pens: Biggar 2
France: T: Vahaamahina, Ollivon, Vakatawa Cons: Ntamack (2)
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%3Cp%3E%3Cstrong%3ETHE%20SPECS%3C%2Fstrong%3E%0D%3Cbr%3EEngine%3A%203.5-litre%20V6%0D%3Cbr%3ETransmission%3A%209-speed%20automatc%0D%3Cbr%3EPower%3A%20279hp%0D%3Cbr%3ETorque%3A%20350Nm%0D%3Cbr%3EPrice%3A%20From%20Dh250%2C000%0D%3Cbr%3EOn%20sale%3A%20Now%3C%2Fp%3E%0A
The five pillars of Islam
The specs
Engine: 3.0-litre 6-cyl turbo
Power: 435hp at 5,900rpm
Torque: 520Nm at 1,800-5,500rpm
Transmission: 9-speed auto
Price: from Dh498,542
On sale: now
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
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Squad
Ali Kasheif, Salim Rashid, Khalifa Al Hammadi, Khalfan Mubarak, Ali Mabkhout, Omar Abdulrahman, Mohammed Al Attas, Abdullah Ramadan, Zayed Al Ameri (Al Jazira), Mohammed Al Shamsi, Hamdan Al Kamali, Mohammed Barghash, Khalil Al Hammadi (Al Wahda), Khalid Essa, Mohammed Shaker, Ahmed Barman, Bandar Al Ahbabi (Al Ain), Al Hassan Saleh, Majid Suroor (Sharjah) Walid Abbas, Ahmed Khalil (Shabab Al Ahli), Tariq Ahmed, Jasim Yaqoub (Al Nasr), Ali Saleh, Ali Salmeen (Al Wasl), Hassan Al Muharami (Baniyas)
What is Folia?
Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.
Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."
Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.
In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love".
There are also plans to take Folia to several more locations throughout the Middle East and Europe.
While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."
