Japanese billionaire Yusaku Maezawa reacts near a Falcon 9 rocket during the announcement by Elon Musk to be the first private passenger who will fly around the Moon aboard the SpaceX BFR launch vehicle, at the SpaceX headquarters and rocket factory on September 17, 2018 in Hawthorne, California. Japanese billionaire businessman, online fashion tycoon and art collector Yusaku Maezawa was revealed as the first tourist who will fly on a SpaceX rocket around the Moon. / AFP / DAVID MCNEW
Japanese billionaire Yusaku Maezawa's cash promotion is behind the most retweeted tweet ever. AFP 

Japanese billionaire gets another accolade: the most retweeted tweet ever



Japanese billionaire Yusaku Maezawa’s expanding list of cash-fuelled bragging rights includes Picassos, Bugatti supercars and a ticket on Elon Musk’s rocket to the moon. He can now add to that collection the mantle of having the most-ever retweeted Twitter post.

For the honour, the founder of Japan’s second-largest online shopping site Zozo will be paying out a total of ¥100 million (Dh3.3m) to 100 lucky people who shared the post. Seeking to be one of the randomly chosen winners,Mr Maezawa’s audience retweeted his post a record 3.8 million times, and gave it more than 900,000 “likes”.

The previous record holder for retweets was a college student in the US whose goal was to get a year’s free supply of chicken nuggets from the Wendy’s fast-food franchise, according to Statista. That post had 3.58 million retweets and 990,000 likes. Ellen DeGeneres’s 2014 Oscars selfie with Hollywood stars including Meryl Streep, Julia Roberts, Brad Pitt and Angelina Jolie was second with 3.3 million retweets.

"To participate, all you have to do is follow me and RT this tweet," Mr Maezawa wrote on January 5. The tweet featured a picture of a man astride a rocket silhouetted against full moon, in a style of the iconic image from the movie ET.

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Mr Maezawa also touted that his shopping site Zozotown reached ¥10 billion in merchandise volume during a New Year’s sale. The business is the main source of the 43-year-old’s $1.7bn net worth, according to the Bloomberg Billionaires Index. Zozo’s shares jumped as much as 6.9 per cent in Tokyo.

Mr Maezawa, who was relatively unknown outside Japan until recently, has sought to raise his global profile to make Zozo a leading global clothing brand within a decade. In September, he was introduced as the first passenger on a flight to the moon scheduled for 2023, on a rocket built by Musk’s SpaceX.

Mr Maezawa made a splash in the art world in 2017 when he spent $110.5m on a single Jean-Michel Basquiat painting at a Sotheby’s auction, setting a record for an American artist’s work at the time. In October, He tweeted that he purchased a 1717 Stradivarius violin.

He tweets under the handle @yousuck2020 and his number of followers has surged to 4.27 million, from a little over 500,000 before his giveaway promotion.

SPECS

Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now

RESULT

Bayern Munich 5 Eintrracht Frankfurt 2
Bayern:
 Goretzka (17'), Müller (41'), Lewandowski (46'), Davies (61'), Hinteregger (74' og)    
Frankfurt: Hinteregger (52', 55')

COMPANY PROFILE

Company name: Klipit

Started: 2022

Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant

Based: Dubai, UAE

Industry: Digital receipts, finance, blockchain

Funding: $4 million

Investors: Privately/self-funded

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MATCH INFO

Uefa Champions League final:

Who: Real Madrid v Liverpool
Where: NSC Olimpiyskiy Stadium, Kiev, Ukraine
When: Saturday, May 26, 10.45pm (UAE)
TV: Match on BeIN Sports

Sam Smith

Where: du Arena, Abu Dhabi

When: Saturday November 24

Rating: 4/5

Friday's schedule in Madrid

Men's quarter-finals

Novak Djokivic (1) v Marin Cilic (9) from 2pm UAE time

Roger Federer (4) v Dominic Thiem (5) from 7pm

Stefanos Tsitsipas (8) v Alexander Zverev (3) from 9.30pm

Stan Wawrinka v Rafael Nadal (2) from 11.30pm

Women's semi-finals

Belinda Bencic v Simona Halep (3) from 4.30pm

Sloane Stephens (8) v Kiki Bertens (7) from 10pm

TOURNAMENT INFO

2018 ICC World Twenty20 Asian Western Regional Qualifier
The top three teams progress to the Asia Qualifier

Thursday results
UAE beat Kuwait by 86 runs
Qatar beat Bahrain by five wickets
Saudi Arabia beat Maldives by 35 runs

Friday fixtures
10am, third-place playoff – Saudi Arabia v Kuwait
3pm, final – UAE v Qatar

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.”

Company Profile

Name: Takestep
Started: March 2018
Founders: Mohamed Khashaba, Mohamed Abdallah, Mohamed Adel Wafiq and Ayman Taha
Based: Cairo, Egypt
Sector: health technology
Employees: 11 full time and 22 part time
Investment stage: pre-Series A