Celebrity chef Gordon Ramsay has teamed up with Rupert Murdoch’s Fox Corp to invest $100 million in HexClad, the maker of non-stick cookware, in an expansion of their food-based entertainment partnership.
The minority investment will be made by Studio Ramsay Global, a joint venture between broadcaster Fox and Ramsay that produces food-orientated TV shows, the companies said on July 16.
The deal includes both cash and media commitments, they said.
The British celebrity chef, 57, has a net worth of $220 million, according to celebrity wealth tracking platform Celebrity Net Worth.
He has opened a number of celebrated restaurants, launched his US-based TV show Hell's Kitchen and has regularly been featured on the Food Network.
He has restaurants in Dubai, Tokyo, London, New York, Ireland and Canada, and has become a cornerstone of Fox food-orientated programming that includes Next Level Chef, Kitchen Nightmares and Gordon Ramsay’s Food Stars.
Ramsay and Fox formed Studio Ramsay Global three years ago and recently launched Bite, a food and entertainment-focused multimedia brand.
The agreement with HexClad marks the first investment in a consumer product by the partnership, though Ramsay personally acquired a stake in HexClad in 2021.
The celebrity chef has acted as a brand ambassador for HexClad. He has used the cookware on his TV shows and in his restaurants.
Los Angeles-based HexClad, founded in 2016, was forecast to generate $350 million in revenue in 2023, co-founder Daniel Winer told the Modern Retail podcast last year.
Sales soared during the Covid-19 pandemic after HexClad sent pans to celebrities who posted their use on social media. The closely held business has a valuation greater than $1 billion.
Ramsay’s real estate portfolio includes a five-bedroom mansion in Bel Air, Los Angeles, a home in London, and at least three homes in the English seaside town of Fowey, Celebrity Net Worth reported.
He is a car enthusiast and Ferrari lover and has a sizeable collection, including a Ferrari LaFerrari painted in Grigio Ferro, a Ferrari 488 Spider, a Ferrari 812 Superfast, an Aston Martin DBS Superleggera, a McLaren Senna and a Porsche 918 Spyder, according to the website.
He sold a 50 per cent stake in his North American restaurant business to private equity firm Lion Capital in 2019.
Lion Capital will invest $100 million to build 100 Gordon Ramsay restaurants in the US in the next five years.
Jared Leto
US actor and musician Jared Leto joined a $60 million funding round in a start-up called Captions, which develops generative artificial intelligence in the video creation and editing space, as venture capital investors continue to pour billions of dollars into AI companies that are trying to compete with industry heavyweights OpenAI and Google.
Captions announced its series C funding round on July 9, in which Leto invested alongside venture capital heavyweights such as Kleiner Perkins, Sequoia Capital and Andreessen Horowitz, as well as Index Ventures and Adobe.
The start-up said that with the series C round, which values the company at $500 million, it has now raised $100 million.
Leto previously invested in another generative AI start-up called Pika in June.
Designers for Leto’s rock band, Thirty Seconds to Mars, have experimented with Pika and incorporated its videos into some of the footage shown on stage at concerts, Bloomberg reported.
Leto, who has starred in films such as Fight Club, Girl, Interrupted, Dallas Buyers Club and Suicide Squad, has a personal fortune estimated at $90 million, according to Celebrity Net Worth.
Outside of his acting career, Leto, 52, is also the frontman and primary songwriter for Thirty Seconds to Mars, which he started with brother Shannon in 1998. They released their debut album, 30 Seconds to Mars, in 2002.
The band has sold more than 15 million albums.
Leto is also the founder of social media management company The Hive, concert ticket company Adventures In Wonderland (whose name changed in 2013 from The One and Only Golden Tickets) and live-streaming video service VyRT, according to Celebrity Net Worth.
He was also an investor in website Reddit, private jet airline Surf Air and financial services company Robinhood.
In 2015, Leto purchased a home in Laurel Canyon, Los Angeles, for $5 million. The home, which was once the Lookout Mountain Air Force Station, contains eight bedrooms and 12 bathrooms, the website reported.
Kriti Sanon
Kriti Sanon has purchased a 2,000-square-foot plot in the coastal town of Alibaug, in the west Indian state of Maharashtra, for 20 million rupees ($239,047), according to media reports.
Previously, actor Amitabh Bachchan acquired a 10,000-square-foot plot in the same project in Alibaug for more than 100 million rupees, the reports said.
“Buying land on my own has been quite an empowering journey. I was looking for peace, privacy and a great investment addition to my portfolio,” said Sanon, who owns a home in Mumbai's Juhu suburb.
The Indian actress, 33, has a net worth estimated at $2 million, according to Celebrity Net Worth.
Last year, Sanon launched skincare brand Hyphen in partnership with PEP Technologies, the personal product care company behind Indian cosmetics brand MCaffeine.
PEP Technologies is the majority shareholder in Hyphen, with an initial investment of 300 million rupees, according to India's Financial Express newspaper.
She also owns a production company called Blue Butterfly Films.
Last year, she co-founded The Tribe, a fitness start-up that offers virtual and in-studio training and nutrition plans.
A former model, Sanon has appeared in more than 30 films, including Telugu and Hindi.
Aside from her film income, she has also endorsed brands such as Cadbury, Bata, Titan and Coca-Cola.
Jennifer Lopez and Ben Affleck
Jennifer Lopez and Ben Affleck have listed their Beverly Hills mansion for sale for $68 million, Celebrity Net Worth reported.
If they find a buyer for the home, known as Crestview Manor, Affleck and Lopez will be turning a profit of about $8 million on the $60.85 million they spent on the property.
The mansion has 38,000 square feet of living space, 12 bedrooms and twice as many bathrooms.
The compound also includes a 5,000-square-foot guest penthouse, a caretaker's house and a gatehouse, plus a 12-car garage and an indoor sports complex.
Lopez, 54, has an estimated net worth of $400 million, according to Celebrity Net Worth.
Her fortune is almost entirely self-made.
Jennifer Lopez reveals wedding photos - in pictures
A significant portion comes from studio albums and supporting tours and residencies over a two-decade career. Her 2019 It’s My Party world tour took in $68.4 million from 33 performances, including stops in Egypt, Israel and Russia.
Movie and television work, including production credits, account for another chunk of Lopez’s earnings.
In 1997, she became the first Latin actress to earn more than $1 million for a film, for her work on the biopic of Tejano singer Selena.
The American Idol guest judge also pulls in millions of dollars annually from endorsements for brands such as fashion labels Versace, Guess and cosmetics company L’Oreal.
Affleck, 51, is estimated to have a personal fortune worth $150 million, according to Celebrity Net Worth.
One of the actor and producer's largest career base salary acting paychecks (before backend bonuses) was the $15 million he earned from the 2003 movie Paycheck, according to the website.
At his peak, Affleck was earning $15 million to $20 million per movie with backend, it said.
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Scores
New Zealand 266 for 9 in 50 overs
Pakistan 219 all out in 47.2 overs
New Zealand win by 47 runs
First Person
Richard Flanagan
Chatto & Windus
Results
5pm: Wadi Nagab – Maiden (PA) Dh80,000 (Turf) 1,200m; Winner: Al Falaq, Antonio Fresu (jockey), Ahmed Al Shemaili (trainer)
5.30pm: Wadi Sidr – Handicap (PA) Dh80,000 (T) 1,200m; Winner: AF Majalis, Tadhg O’Shea, Ernst Oertel
6pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Fakhama, Fernando Jara, Mohamed Daggash
6.30pm: Wadi Shees – Handicap (PA) Dh80,000 (T) 2,200m; Winner: Mutaqadim, Antonio Fresu, Ibrahim Al Hadhrami
7pm: Arabian Triple Crown Round-1 – Listed (PA) Dh230,000 (T) 1,600m; Winner: Bahar Muscat, Antonio Fresu, Ibrahim Al Hadhrami
7.30pm: Wadi Tayyibah – Maiden (TB) Dh80,000 (T) 1,600m; Winner: Poster Paint, Patrick Cosgrave, Bhupat Seemar
'Fantastic Beasts: The Secrets of Dumbledore'
Rating: 3/5
Directed by: David Yates
Starring: Mads Mikkelson, Eddie Redmayne, Ezra Miller, Jude Law
The Two Popes
Director: Fernando Meirelles
Stars: Anthony Hopkins, Jonathan Pryce
Four out of five stars
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Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
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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
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
Asayel camels - sleek, short-haired hound-like racers
Majahim - chocolate-brown camels that can grow to weigh two tonnes. They were only valued for milk until camel pageantry took off in the 1990s
Millions Street - the thoroughfare where camels are led and where white 4x4s throng throughout the festival
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Related
Engine: 5.6-litre V8
Transmission: seven-speed automatic
Power: 400hp
Torque: 560Nm
Price: Dh234,000 - Dh329,000
On sale: now
Famous left-handers
- Marie Curie
- Jimi Hendrix
- Leonardo Di Vinci
- David Bowie
- Paul McCartney
- Albert Einstein
- Jack the Ripper
- Barack Obama
- Helen Keller
- Joan of Arc
RedCrow Intelligence Company Profile
Started: 2016
Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel
Based: Ramallah, Palestine
Sector: Technology, Security
# of staff: 13
Investment: $745,000
Investors: Palestine’s Ibtikar Fund, Abu Dhabi’s Gothams and angel investors
Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
Tips to avoid getting scammed
1) Beware of cheques presented late on Thursday
2) Visit an RTA centre to change registration only after receiving payment
3) Be aware of people asking to test drive the car alone
4) Try not to close the sale at night
5) Don't be rushed into a sale
6) Call 901 if you see any suspicious behaviour
Other must-tries
Tomato and walnut salad
A lesson in simple, seasonal eating. Wedges of tomato, chunks of cucumber, thinly sliced red onion, coriander or parsley leaves, and perhaps some fresh dill are drizzled with a crushed walnut and garlic dressing. Do consider yourself warned: if you eat this salad in Georgia during the summer months, the tomatoes will be so ripe and flavourful that every tomato you eat from that day forth will taste lacklustre in comparison.
Badrijani nigvzit
A delicious vegetarian snack or starter. It consists of thinly sliced, fried then cooled aubergine smothered with a thick and creamy walnut sauce and folded or rolled. Take note, even though it seems like you should be able to pick these morsels up with your hands, they’re not as durable as they look. A knife and fork is the way to go.
Pkhali
This healthy little dish (a nice antidote to the khachapuri) is usually made with steamed then chopped cabbage, spinach, beetroot or green beans, combined with walnuts, garlic and herbs to make a vegetable pâté or paste. The mix is then often formed into rounds, chilled in the fridge and topped with pomegranate seeds before being served.
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.
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Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
Heather, the Totality
Matthew Weiner,
Canongate
