Steven Spielberg attends the red carpet of the Netflix movie "Maestro" at the Academy Museum of Motion Pictures in Los Angeles, California, U. S. December 12, 2023. REUTERS / Mike Blake
Director George Lucas attends the Museum of Modern Art's Party in the Garden benefit on Tuesday, June 7, 2022, in New York. (Photo by Andy Kropa / Invision / AP)
Former basketball star Michael Jordan ends the year with a net worth of $3 billion, according to Forbes. AFP
Media mogul Oprah Winfrey ends the year with a net worth of $2.8 billion. AFP
Music mogul Jay-Z now has a net worth of $2.5 billion, according to Forbes. AFP
Fashion designer Tom Ford has a personal fortune of $2.2 billion, according to Forbes. AFP
Reality TV star Kim Kardashian has a net worth of $1.7 billion. AFP
Film director Peter Jackson has a net worth of $1.5 billion. AFP
Former basketball star Magic Johnson joined the billionaires’ circle this year. His fortune is $1.2 billion. AFP
Singer Taylor Swift is a notable newcomer to this year’s billionaire list, following the success of her Eras concert tour and film. Her net worth is $1.1 billion. AP
The Oscar-winning director's net worth climbed an estimated $1.25 billion in 2023. The bulk of his assets are in cash.
He has a lifelong consulting agreement with Universal Studios theme parks. The value of the agreement at the end of 2022 was $1.1 billion, Bloomberg reported.
In addition, he has personal property worth $300 million.
Spielberg, 77, is the principal partner in film production company DreamWorks Studios. He has produced about 150 films, including Jaws, Jurassic Park and Schindler’s List.
He and his wife, actor Kate Capshaw, own or have owned properties in Malibu and the Pacific Palisades in California, as well a 6,000-square-feet apartment in New York City and a four-hectare estate in East Hampton, New York, according to wealth tracking website Celebrity Net Worth.
He owns a superyacht worth $250 million and avidly collects film memorabilia and art.
Director George Lucas is the 360th richest person in the world. AP
2. George Lucas
The man behind the Star Wars and Indiana Jones movie franchises has a net worth of $6.92 billion, according to Bloomberg’s Billionaires Index. That is an increase of about 12.4 per cent or $761 million over the previous year.
The filmmaker, aged 79, is now the 360th richest person in the world.
Most of his wealth has come from entertainment – specifically, from selling the rights of his Lucasfilm and special effects business Industrial Light and Magic to Disney for $4.1 billion in cash and stock in 2012.
The deal included 37.1 million in stock and made him the entertainment company’s second largest individual shareholder after Laurene Powell Jobs, the billionaire widow of Apple founder Steve Jobs.
Lucas’s major investment is in farmland. Skywalker Properties owns about 2,470 hectares of ranches in and around Marin County, California.
Michael Jordan has seen his net worth nearly double from $1.7 billion last year. AP
3. Michael Jordan
Former basketball star Michael Jordan ends the year with a net worth of $3 billion, according to Forbes. The magazine ranks him as the 1,042nd richest billionaire.
Jordan, 60, has seen his net worth nearly double from $1.7 billion last year.
Many regard him as the greatest NBA player of all time. He played in the league for 15 seasons, from 1984 to 2003, and earned $90 million.
Off court, he has earned another $2.4 billion before taxes from partnerships with brands including Gatorade, Hanes and, perhaps most importantly, Nike.
The $2.5 million, five-year contract he signed with the sports apparel retailer in 1984 also awarded him a percentage of all shoes sold with his likeness.
The shoe brand Air Jordans earned $5.1 billion in 2022, with Jordan taking 5 per cent, according to Front Office Sports.
This year, Jordan banked additional income from selling the Charlotte Hornets basketball team at a valuation of $3 billion.
He has also invested in headphone brand Muzik and esports company aXiomatic, while he also co-owns Nascar team 23XI, along with several restaurants.
The richest woman on the celebrity billionaire list this year is Oprah Winfrey, with a net worth of $2.8 billion. Reuters
4. Oprah Winfrey
The richest woman on our list this year is Oprah Winfrey. Despite a net worth of $2.8 billion, she ranks well outside the world’s top 1,000 billionaires, at 1,121 on Forbes magazine’s real-time list.
The entrepreneur and philanthropist ended 2022 with a net worth of $2.5 billion, down from $2.7 billion in 2021.
Besides from her eponymous talk show, which ran for 25 years, Winfrey, 69, has also profited from films including Beloved and Selma, through her Harpo Productions company.
Reinvested, the profits from these entertainment properties total more than $2 billion, Forbes reports.
Her current projects include the Oprah Daily website and the musical retelling of the 1982 book The Color Purple. This film adaptation releases in cinemas around the world today.
Music mogul Jay-Z has a net worth of $2.5 billion, according to Forbes. Reuters
5. Jay-Z
Music mogul Jay-Z, real name Shawn Corey Carter, now has a net worth of $2.5 billion, according to Forbes.
At the end of 2022, his net worth was reported as $1.3 billion.
The difference likely comes down to his beverage business. Luxury goods company LVMH purchased a 50 per cent stake in his Armand de Brignac brand in 2021. This year, he sold a majority of his D'Usse brand to Bacardi.
The 54-year-old is also the owner of entertainment company Roc Nation, founded in 2008.
As an investor, Jay-Z has stakes in companies including Block, Uber and Therabody.
Fashion designer Tom Ford has a net worth of $2.2 billion, according to Forbes. AFP
6. Tom Ford
Fashion designer Tom Ford catapulted to billionaire status in 2022 after he sold his eponymous label and a separate fragrance and cosmetics business to Estée Lauder. Forbes magazine puts his net worth at $2.2 billion.
He founded the label in 2005 and owned 63.7 per cent of the company, according to Forbes.
Ford, 62, also owns a film production company, Fade to Black.
He has a real estate portfolio, with homes in Paris, Los Angeles, London, New York and Santa Fe, New Mexico.
Reality TV star Kim Kardashian has a net worth of $1.7 billion, mainly from her stake in clothing brand Skims. Reuters
7. Kim Kardashian
Reality TV star Kim Kardashian, 43, has a net worth of $1.7 billion, most of which is from her stake in clothing brand Skims.
The company has been valued at $4 billion after a funding round this year, raising Kardashian’s net worth.
It is on track to make about $750 million this year, TheNew York Times reported.
She also owns a high-end skincare line, SKKN by Kim, and a private equity firm, SKKY Partners.
Director Peter Jackson has a net worth of $1.5 billion. AFP
8. Peter Jackson
Holding steady at $1.5 billion is director Peter Jackson. The New Zealander is best known for the Lord of the Rings and Hobbit trilogies.
Jackson, 62, became a billionaire when he sold his Weta Digital special effects studio to Unity Software for $1.6 billion in cash and stock in 2021.
His investments include $150 million in real estate, according to Celebrity Net Worth.
An aviation fan, he owns a Gulfstream G650 private jet, more than 40 airworthy First World War-era warbirds and Wingnut Wings, a scale modelling company specialising in First World War subjects.
Former basketball star Magic Johnson has a net worth of $1.2 billion. AFP
9. Magic Johnson
Also joining the billionaires’ circle this year was former basketball star Magic Johnson. In October, Forbes put his net worth at $1.2 billion.
He earned $40 million over 13 seasons in the NBA. Outside basketball, he has investments and partnerships in cinemas, Starbucks franchises, real estate, health care and other companies.
The largest share of his fortune comes from a 60 per cent ownership stake in life insurance company Equitrust, which has $26 billion in assets under management.
Johnson, 64, also owns stakes in several sports teams, including the Los Angeles Dodgers.
Taylor Swift's net worth is $1.1 billion, according to Forbes. AP
Her net worth is $1.1 billion, according to Forbes.
The tour could earn her as much as $4.1 billion when it closes next year, The Washington Post reported.
The 12-time Grammy winner was also the year’s most streamed artist on Spotify, earning $131 million from 26.1 global streams over the 11 months to November.
She has more than 182 million in total equivalent album sales over her career.
Swift, 33, is one of the world’s richest self-made women. She is also one of the world’s youngest self-made billionaires.
Top 10 richest celebrities in 2023
Steven Spielberg: Net worth of $8.3 billion
George Lucas: $6.92 billion
Michael Jordan: $3 billion
Oprah Winfrey: $2.8 billion
Jay-Z: $2.5 billion
Tom Ford: $2.2 billion
Kim Kardashian: $1.7 billion
Peter Jackson: $1.5 billion
Magic Johnson: $1.2 billion
Taylor Swift: $1.1 billion
The bio
Favourite book: The Alchemist by Paulo Coelho
Favourite travel destination: Maldives and south of France
Favourite pastime: Family and friends, meditation, discovering new cuisines
Favourite Movie: Joker (2019). I didn’t like it while I was watching it but then afterwards I loved it. I loved the psychology behind it.
Favourite Author: My father for sure
Favourite Artist: Damien Hurst
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
You may remember …
Robbie Keane (Atletico de Kolkata) The Irish striker is, along with his former Spurs teammate Dimitar Berbatov, the headline figure in this season’s ISL, having joined defending champions ATK. His grand entrance after arrival from Major League Soccer in the US will be delayed by three games, though, due to a knee injury.
Dimitar Berbatov (Kerala Blasters) Word has it that Rene Meulensteen, the Kerala manager, plans to deploy his Bulgarian star in central midfield. The idea of Berbatov as an all-action, box-to-box midfielder, might jar with Spurs and Manchester United supporters, who more likely recall an always-languid, often-lazy striker.
Wes Brown (Kerala Blasters) Revived his playing career last season to help out at Blackburn Rovers, where he was also a coach. Since then, the 23-cap England centre back, who is now 38, has been reunited with the former Manchester United assistant coach Meulensteen, after signing for Kerala.
Andre Bikey (Jamshedpur) The Cameroonian defender is onto the 17th club of a career has taken him to Spain, Portugal, Russia, the UK, Greece, and now India. He is still only 32, so there is plenty of time to add to that tally, too. Scored goals against Liverpool and Chelsea during his time with Reading in England.
Emiliano Alfaro (Pune City) The Uruguayan striker has played for Liverpool – the Montevideo one, rather than the better-known side in England – and Lazio in Italy. He was prolific for a season at Al Wasl in the Arabian Gulf League in 2012/13. He returned for one season with Fujairah, whom he left to join Pune.
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
TCL INFO
Teams:
Punjabi Legends Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan
Venue Sharjah Cricket Stadium Format 10 overs per side, matches last for 90 minutes Timeline October 25: Around 120 players to be entered into a draft, to be held in Dubai; December 21: Matches start; December 24: Finals
Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Difference between fractional ownership and timeshare
Although similar in its appearance, the concept of a fractional title deed is unlike that of a timeshare, which usually involves multiple investors buying “time” in a property whereby the owner has the right to occupation for a specified period of time in any year, as opposed to the actual real estate, said John Peacock, Head of Indirect Tax and Conveyancing, BSA Ahmad Bin Hezeem & Associates, a law firm.
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
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.”
US tops drug cost charts
The study of 13 essential drugs showed costs in the United States were about 300 per cent higher than the global average, followed by Germany at 126 per cent and 122 per cent in the UAE.
Thailand, Kenya and Malaysia were rated as nations with the lowest costs, about 90 per cent cheaper.
In the case of insulin, diabetic patients in the US paid five and a half times the global average, while in the UAE the costs are about 50 per cent higher than the median price of branded and generic drugs.
Some of the costliest drugs worldwide include Lipitor for high cholesterol.
The study’s price index placed the US at an exorbitant 2,170 per cent higher for Lipitor than the average global price and the UAE at the eighth spot globally with costs 252 per cent higher.
High blood pressure medication Zestril was also more than 2,680 per cent higher in the US and the UAE price was 187 per cent higher than the global price.
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
UAE currency: the story behind the money in your pockets
Mr Al Qassimi is 37 and lives in Dubai
He is a keen drummer and loves gardening
His favourite way to unwind is spending time with his two children and cooking
Emirates fly direct from Dubai to Houston, Texas, where United have direct flights to Managua. Alternatively, from October, Iberia will offer connections from Madrid, which can be reached by both Etihad from Abu Dhabi and Emirates from Dubai.
The trip
Geodyssey’s (Geodyssey.co.uk) 15-night Nicaragua Odyssey visits the colonial cities of Leon and Granada, lively country villages, the lake island of Ometepe and a stunning array of landscapes, with wildlife, history, creative crafts and more. From Dh18,500 per person, based on two sharing, including transfers and tours but excluding international flights. For more information, visit visitnicaragua.us.
The flights Etihad (www.etihad.com) and Spice Jet (www.spicejet.com) fly direct from Abu Dhabi and Dubai to Pune respectively from Dh1,000 return including taxes. Pune airport is 90 minutes away by road.
The hotels A stay at Atmantan Wellness Resort (www.atmantan.com) costs from Rs24,000 (Dh1,235) per night, including taxes, consultations, meals and a treatment package.
The specs
Price, base / as tested Dh100,000 (estimate)
Engine 2.4L four-cylinder
Gearbox Nine-speed automatic
Power 184bhp at 6,400rpm
Torque 237Nm at 3,900rpm
Fuel economy, combined 9.4L/100km
Youth YouTuber Programme
The programme will be presented over two weeks and will cover the following topics:
- Learning, scripting, storytelling and basic shots
- Master on-camera presence and advanced script writing
- Beating the algorithm and reaching your core audience
