Celebrity Net Worth: Sachin Tendulkar cashes in on IPO frenzy
In our fortnightly celebrity investment and wealth round-up, Adam Sandler is named Hollywood’s highest earner in 2023 and Miley Cyrus invests in a self-tanning brand
Tendulkar, 50, invested in the company, which provides engineering and technology solutions for global equipment manufacturers in the energy, defence and aerospace sectors, in May last year. His stake or investment amount was not disclosed at the time.
But the former Indian batsman acquired 438,120 shares in the company at an average price of 114.10 Indian rupees ($1.37), valuing his total investment at 49.9 million rupees, India’s Mint newspaper reported.
Since listing on the NSE at 720 rupees per share on December 28, the company's shares have surged, rising to as high as 1,355.30 rupees on March 7.
By the close of trade on Thursday, the stock was priced at 1,223 rupees, valuing Tendulkar’s stake at an impressive 535.8 million rupees, or $6.45 million.
In recent years, he has made several equity investments in Indian companies, including smart devices brand Smartron, used car start-up Spinny and gaming platform JetSynthesys.
In 2022, Tendulkar, who holds the record for most runs in Test cricket and one-day internationals, teamed up with digital collectibles platform Rario as an investor and brand ambassador, marking his first foray into non-fungible tokens.
The platform offers fans NFTs and personalised experiences that feature highlights from Tendulkar’s 24-year career.
He has a net worth of $200 million, according to estimates by wealth tracker Celebrity Net Worth.
Adam Sandler
Adam Sandler was the highest earning actor in Hollywood in 2023, according to Forbes. Getty Images
American actor and comedian Adam Sandler has been named Hollywood’s highest earner in 2023, with an annual net salary of $73 million, according to Forbes magazine.
Sandler, 57, appeared in three Netflix films last year – Murder Mystery 2, The Out-Laws and You Are So Not Invited to My Bat Mitzvah, as well as producing and voicing the title character in the streaming service’s animated movie, Leo.
In 2014, Sandler’s Happy Maddison production company signed a four-movie deal with Netflix. The agreement was extended in 2020 for another four movies in a deal worth about $250 million.
“Whether you know him as Sandman, the Water Boy, Billy Madison, Happy Gilmore, Nick Spitz or simply Adam, one thing is clear: our members can’t get enough of him,” Ted Sarandos, Netflix’s chief content officer, said at the time.
“They have spent a whopping two billion hours watching his films since 2015 – the year that The Ridiculous 6 premiered – proving there’s no such thing as too much Sandler.”
It is the first time Sandler has appeared at the top of the list since 2002, when he earned $47 million, Forbes said.
The star of Grown Ups has a net worth of $440 million, Celebrity Net Worth data shows. “At various points during his career, Adam has been the highest-paid entertainer in the world,” the website said.
He currently earns about $25 million for every movie, plus a percentage of gross profits, and has a property portfolio worth an estimated $60 million, with homes in California, Hawaii and New York.
Australian actress Margot Robbie, star of box-office hit Barbie, was ranked second on the Forbes list of Hollywood's top earners in 2023 with an annual net salary of $59 million, followed by Top Gun star Tom Cruise on $45 million.
Robbie's Barbie co-star Ryan Gosling and Matt Damon, who appeared in the academy-award winning blockbuster Oppenheimer, were tied in fourth place with earnings of $43 million each.
Actor and producer Jennifer Aniston was ranked sixth, with her salary coming in at $42 million, followed by Leonardo DiCaprio and Jason Statham, who earned $41 million each. Ben Affleck was the ninth-highest earner with a salary of $38 million and Denzel Washington was 10th on $24 million.
Singer Miley Cyrus has invested in a self-tanning brand. Reuters
Miley Cyrus
Party in the USA singer Miley Cyrus has teamed up with self-tanning brand Dolce Glow, investing an undisclosed amount in the California company.
Cyrus announced the deal to her followers in an Instagram post last month, saying: “I can buy myself tanner … get that endless summer vacation glow”, in a nod to the lyrics of her song, Flowers.
“I am an official partner in Dolce Glow because I truly love and trust this product,” she added.
Cyrus has been a client of Dolce Glow for the past three years. The company, which sells its Australian-made products online and has a tanning salon in the Californian city of San Fernando, was founded by Isabel Alysa in 2016.
The brand’s product catalogue includes tanning mousses and mists, as well as self-tanning and body lotions.
This will be one of Miley’s first investments as she is passionate about the product as a longtime client and friend of Isabel Alysa
Dolce Glow
“This will be one of Miley’s first investments as she is passionate about the product as a longtime client and friend of Isabel Alysa,” Dolce Glow said on its website.
Other celebrity clients of the self-tanning brand include Jennifer Lopez, Kylie Jenner, Olivia Culpo and Selena Gomez.
Cyrus, 31, has a net worth of about $160 million, according to Celebrity Net Worth.
In 2022, the former child star of Disney’s Hannah Montana series closed one of the highest real estate deals in the Nashville area. According to land registry records, the five-bedroom ranch sold for $14.5 million. Cyrus bought the property in 2017 for $5.8 million.
She has owned at least three other homes in California, including in Studio City, Malibu and a ranch in Hidden Hills, which she sold in 2018 for $5 million.
Los Angeles Lakers forward LeBron James has invested in StatusPro for the second time. AP
LeBron James
Billionaire basketball player LeBron James has joined a $20 million Series A funding round in sports virtual reality start-up StatusPro.
The funding round was led by Google Ventures, the venture capital arm of Google parent Alphabet. Other investors included India’s Dream Sports, Minnesota Vikings owners Mark and Zygi Wilf’s Wise Ventures, JDS Sports, Amumni Ventures and Canadian rapper Drake, StatusPro said.
The Los Angeles Lakers forward also invested in the company’s $5.2 million seed round in August 2021, along with Drake and tennis star Naomi Osaka.
Co-founded by former American football players Andrew Hawkins and Troy Jones, StatusPro combines player data with extended reality to create training and fan engagement products in sports.
Its custom solutions are used by players and coaches from several National Football League teams, including the Baltimore Ravens.
StatusPro plans to use the additional cash to expand its VR technology and launch new sports-themed games to build on the success of its officially licensed NFL Pro Era, which has been downloaded more than a million times, the company said in a statement.
LeBron James's Saudi Arabia clinic – in pictures
NBA star LeBron James conducted a basketball clinic during his first visit to Saudi Arabia. Photo: Saudi Ministry of Sport
LeBron James during a basketball clinic in Riyadh. Photo: Saudi Ministry of Sport
LeBron James conducted a basketball clinic in Saudi Arabia. Photo: Saudi Ministry of Sport
LeBron James interacted with young basketball fans during a clinic in Riyadh. Photo: Saudi Ministry of Sport
LeBron James during a basketball clinic in Saudi. Photo: Saudi Ministry of Sport
“No matter if it's virtual reality or spatial computing, our vision at StatusPro is to define first-person sports and deliver experiences that truly embody the emotion, competition and sense of community that comes with being a professional athlete,” said Mr Jones, who is also chief executive of the start-up.
In 2021, James, 39, became the first active NBA player to join the elite billionaire’s club with an estimated net worth of $1 billion.
He is a part-owner of the Pittsburgh Penguins hockey team through his partnership with sports, entertainment and property company Fenway Sports Group, which also has a stake in the Boston Red Sox baseball team.
In addition to the Penguins, James has been a minority owner of English Premier League football team Liverpool since 2011. His 2 per cent stake, which he purchased for $6.2 million, is now estimated to be about $49.2 million, with KPMG evaluating the club at $2.6 billion.
The Space Jam: A New Legacy star extended his contract with the LA Lakers in 2023, in a deal worth $97.1 million over two years.
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
IF YOU GO The flights: FlyDubai offers direct flights to Catania Airport from Dubai International Terminal 2 daily with return fares starting from Dh1,895. The details: Access to the 2,900-metre elevation point at Mount Etna by cable car and 4x4 transport vehicle cost around €57.50 (Dh248) per adult. Entry into Teatro Greco costs €10 (Dh43). For more go to www.visitsicily.info
Where to stay:Hilton Giardini Naxos offers beachfront access and accessible to Taormina and Mount Etna. Rooms start from around €130 (Dh561) per night, including taxes.
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), EsekaiaDranibota (Harlequins), Matt Mills (Exiles), JaenBotes (Exiles), KristianStinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), EmosiVacanau (Harlequins), NikoVolavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), ThinusSteyn (Exiles)
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
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
Tamkeen's offering
Option 1: 70% in year 1, 50% in year 2, 30% in year 3
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
How to get there
Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
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.”
Know your Camel lingo
The bairaq is a competition for the best herd of 50 camels, named for the banner its winner takes home
Namoos - a word of congratulations reserved for falconry competitions, camel races and camel pageants. It best translates as 'the pride of victory' - and for competitors, it is priceless
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
Real Madrid 1
Ronaldo (87')
Athletic Bilbao 1
Williams (14')
ZIMBABWE V UAE, ODI SERIES
All matches at the Harare Sports Club:
1st ODI, Wednesday - Zimbabwe won by 7 wickets
2nd ODI, Friday, April 12
3rd ODI, Sunday, April 14
4th ODI, Tuesday, April 16
UAE squad: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed
Egypt’s Copts belong to one of the world’s oldest Christian communities, with Mark the Evangelist credited with founding their church around 300 AD. Orthodox Christians account for the overwhelming majority of Christians in Egypt, with the rest mainly made up of Greek Orthodox, Catholics and Anglicans.
The community accounts for some 10 per cent of Egypt’s 100 million people, with the largest concentrations of Christians found in Cairo, Alexandria and the provinces of Minya and Assiut south of Cairo.
Egypt’s Christians have had a somewhat turbulent history in the Muslim majority Arab nation, with the community occasionally suffering outright persecution but generally living in peace with their Muslim compatriots. But radical Muslims who have first emerged in the 1970s have whipped up anti-Christian sentiments, something that has, in turn, led to an upsurge in attacks against their places of worship, church-linked facilities as well as their businesses and homes.
More recently, ISIS has vowed to go after the Christians, claiming responsibility for a series of attacks against churches packed with worshippers starting December 2016.
The discrimination many Christians complain about and the shift towards religious conservatism by many Egyptian Muslims over the last 50 years have forced hundreds of thousands of Christians to migrate, starting new lives in growing communities in places as far afield as Australia, Canada and the United States.
Here is a look at major attacks against Egypt's Coptic Christians in recent years:
November 2: Masked gunmen riding pickup trucks opened fire on three buses carrying pilgrims to the remote desert monastery of St. Samuel the Confessor south of Cairo, killing 7 and wounding about 20. IS claimed responsibility for the attack.
May 26, 2017: Masked militants riding in three all-terrain cars open fire on a bus carrying pilgrims on their way to the Monastery of St. Samuel the Confessor, killing 29 and wounding 22. ISIS claimed responsibility for the attack.
April 2017: Twin attacks by suicide bombers hit churches in the coastal city of Alexandria and the Nile Delta city of Tanta. At least 43 people are killed and scores of worshippers injured in the Palm Sunday attack, which narrowly missed a ceremony presided over by Pope Tawadros II, spiritual leader of Egypt Orthodox Copts, in Alexandria's St. Mark's Cathedral. ISIS claimed responsibility for the attacks.
February 2017: Hundreds of Egyptian Christians flee their homes in the northern part of the Sinai Peninsula, fearing attacks by ISIS. The group's North Sinai affiliate had killed at least seven Coptic Christians in the restive peninsula in less than a month.
December 2016: A bombing at a chapel adjacent to Egypt's main Coptic Christian cathedral in Cairo kills 30 people and wounds dozens during Sunday Mass in one of the deadliest attacks carried out against the religious minority in recent memory. ISIS claimed responsibility.
July 2016: Pope Tawadros II says that since 2013 there were 37 sectarian attacks on Christians in Egypt, nearly one incident a month. A Muslim mob stabs to death a 27-year-old Coptic Christian man, Fam Khalaf, in the central city of Minya over a personal feud.
May 2016: A Muslim mob ransacks and torches seven Christian homes in Minya after rumours spread that a Christian man had an affair with a Muslim woman. The elderly mother of the Christian man was stripped naked and dragged through a street by the mob.
New Year's Eve 2011: A bomb explodes in a Coptic Christian church in Alexandria as worshippers leave after a midnight mass, killing more than 20 people.
UAE currency: the story behind the money in your pockets
1. Max Verstappen, Netherlands, Red Bull Racing Honda, 1 minute, 35.246 seconds.
2. Valtteri Bottas, Finland, Mercedes, 1:35.271.
3. Lewis Hamilton, Great Britain, Mercedes, 1:35.332.
4. Lando Norris, Great Britain, McLaren Renault, 1:35.497.
5. Alexander Albon, Thailand, Red Bull Racing Honda, 1:35.571.
6. Carlos Sainz Jr, Spain, McLaren Renault, 1:35.815.
7. Daniil Kvyat, Russia, Scuderia Toro Rosso Honda, 1:35.963.
8. Lance Stroll, Canada, Racing Point BWT Mercedes, 1:36.046.
9. Charles Leclerc, Monaco, Ferrari, 1:36.065.
10. Pierre Gasly, France, Scuderia Toro Rosso Honda, 1:36.242.
Eliminated after second session
11. Esteban Ocon, France, Renault, 1:36.359.
12. Daniel Ricciardo, Australia, Renault, 1:36.406.
13. Sebastian Vettel, Germany, Ferrari, 1:36.631.
14. Antonio Giovinazzi, Italy, Alfa Romeo Racing Ferrari, 1:38.248.
Eliminated after first session
15. Antonio Giovinazzi, Italy, Alfa Romeo Racing Ferrari, 1:37.075.
16. Kimi Raikkonen, Finland, Alfa Romeo Racing Ferrari, 1:37.555.
17. Kevin Magnussen, Denmark, Haas Ferrari, 1:37.863.
18. George Russell, Great Britain, Williams Mercedes, 1:38.045.
19. Pietro Fittipaldi, Brazil, Haas Ferrari, 1:38.173.
20. Nicholas Latifi, Canada, Williams Mercedes, 1:38.443.
Company profile
Company name: Nestrom
Started: 2017
Co-founders: Yousef Wadi, Kanaan Manasrah and Shadi Shalabi
Based: Jordan
Sector: Technology
Initial investment: Close to $100,000
Investors: Propeller, 500 Startups, Wamda Capital, Agrimatico, Techstars and some angel investors
6.30pm: Handicap (TB) $68,000 (Dirt) 1,600m
Winner: Hypothetical, Mickael Barzalona (jockey), Salem bin Ghadayer (trainer) 7.05pm: Meydan Sprint – Group 2 (TB) $163,000 (Turf) 1,000m
Winner: Equilateral, Andrea Atzeni, Charles Hills 7.40pm: Curlin Stakes – Listed Handicap (TB) $88,000 (D) 2,200m
Winner: New Trails, Fernando Jara, Ahmad bin Harmash 8.15pm: UAE Oaks – Group 3 (TB) $125,000 (D) 1,900m
Winner: Mnasek, Pat Dobbs, Doug Watson 8.50pm: Zabeel Mile – Group 2 (TB) $163,000 (T) 1,600m
Winner: D’bai, William Buick, Charlie Appleby 9.25pm: Balanchine – Group 2 (TB) $163,000 (T) 1,800m
Winner: Summer Romance, James Doyle, Charlie Appleby 10pm: Al Shindagha Sprint – Group 3 (TB) $130,000 (D) 1,200m
Winner: Al Tariq, Pat Dobbs, Doug Watson
Ain Dubai in numbers
126: The length in metres of the legs supporting the structure
1 football pitch: The length of each permanent spoke is longer than a professional soccer pitch
16 A380 Airbuses: The equivalent weight of the wheel rim.
9,000 tonnes: The amount of steel used to construct the project.
5 tonnes: The weight of each permanent spoke that is holding the wheel rim in place
192: The amount of cable wires used to create the wheel. They measure a distance of 2,4000km in total, the equivalent of the distance between Dubai and Cairo.
FA Cup fifth round draw
Sheffield Wednesday v Manchester City
Reading/Cardiff City v Sheffield United
Chelsea v Shrewsbury Town/Liverpool
West Bromwich Albion v Newcastle United/Oxford United
Leicester City v Coventry City/Birmingham City
Northampton Town/Derby County v Manchester United
Southampton/Tottenham Hotspur v Norwich City
Portsmouth v Arsenal
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.
