28-year-old Tyra Myricks makes 7 figures and has 5 side hustles. Here’s how she typically spends a day.

Tyra Mavericks
Tyra Myricks

  • Tyra Myricks, 28, makes seven figures a year working a day job and five side hustles.
  • She works for Drake, has a fashion line, a branding company, a website for entrepreneurial resources, a pizza shop, and co-owns a gym.
  • To Insider, she breaks down what a typical day looks like.
  • See more stories on Insider’s business page.

If the Land of Side Hustles had a queen, it would surely be 28-year-old Tyra Myricks, daughter of hip hop legend Jam Master Jay. It all began in 2009 when she launched a fashion label while still in high school that eventually helped pay her way through college. She initially went to university to study pre-med but dropped out after the label saw her earning over double her tuition.

She took the streetwear world by storm with celebrity partnerships, and advertising on Instagram’s TMZ the Shade Room. In 2012, she rebranded the company now known as Wealth as high fashion streetwear.

“It’s not the business you do, it’s what you do differently,” she told Insider.

Aside from owning a fashion label, and branding and merchandising company, she’s also the co-owner of The Method, Los Angeles’ first Black-owned gym. Myricks is also about to launch a pizza shop with T’yanna Wallace, daughter of rapper Biggie Smalls, and she’s co-creating a platform to provide young entrepreneurs with resources to start their own businesses.

“It’s not an easy game,” she said of being an entrepreneur. “Everybody on the internet shows the glorious side, but nobody shows the treacherous side where it’s hard to get up in the morning.”

Her day job, of course, is working as director of design, merchandising, and development for Drake’s OVO lifestyle brand, which earns her six figures a year. In total, she makes about seven figures a year and says a secret to her success is knowing how to constantly be agile with the opportunities life brings.

To Insider, she breaks down how she puts that process to use on a typical day.

She wakes up at 5:45 in the morning

Waking up before the break of dawn, Myricks prays, takes a shower, gets dressed, and downs six espresso shots. Her first stop this morning is to The Method to prepare the gym for opening.

Around 6:30 a.m. she leaves the house and puts on gospel music as she drives downtown, trying to beat the morning traffic rush.

At 7 a.m. she opens the gym and gets breakfast

She arrives at the gym and inspects everything to make sure space was cleaned properly before closing the night before. She also folds extra towels and gets the system ready for patrons.

Myricks became co-owner in the gym after investing a substantial amount last year, though she declined to share how much she gave. There are no employees at the gym, though it has 17 independent contractors. It opened in a new location last summer in the middle of the pandemic. Myricks remembers that day clearly because a few days later, the city of Los Angeles shut down again due to COVID-19.

“It was a grand opening, grand closing,” she said.

Tyra Mavericks
Tyra Myricks

During the shutdown, they moved classes outdoors, which helped cover overhead costs (rent is $6,500 a month). Currently, the club has nearly 300 members, giving it a feel of exclusivity, which is something Myricks prizes in all of her entrepreneurial endeavors.

Membership is $99 a month, another reason to ensure service is top-notch. “What’s stopping someone from going to planet fitness for $30 a month?” Myricks said.

After opening the gym she gets breakfast. This day: a green smoothie.

Then, she preps for her day job

Myricks is also the director of design, merchandising, and development for rapper Drake’s OVO lifestyle brand. At 9:30 a.m., still at the gym, she prepares for a Zoom call with the OVO team to discuss upcoming projects. That lasts until about 11 a.m.

Cofounded by Drake in 2011, OVO is known for selling high-end streetwear and has done collaborations with Canada Goose, and the Major League Baseball, as well as having hosted pop-ups at Nordstrom and the once-popular retail store Colette in Paris. “I look at the recipe and formula a lot of successful people use and get little pieces of that to create my own recipe and formula to be successful,” she said.

Tyra Mavericks
Tyra Myricks

Afterward, another business partner meets her at the gym to discuss upcoming projects for the branding agency they own together. Drake offered Myricks a job after seeing some of the branding and merchandising work her agency did for an artist signed to his label. She moved from New York to Los Angeles in 2017 to take the job.

Without giving exact numbers, Myricks said she makes six figures a year from working at OVO, where she leads the design team, approves and denies designs, and deals with manufacturers overseas. “It’s a constant 24-hour job because China and other manufacturers are 12 hours ahead of us,” she said. “When you ask what is a day like – it’s literally a day. It’s a constant revolving door that never stops.”

At 11:28 a.m. she starts working on her fashion side hustle

Next, she heads to the factory she co-owns with a business partner and begins ordering fabric for her Wealth fashion line which she primarily sells online and in one store in downtown LA.

“This isn’t because other stores aren’t interested,” she said. “We like to keep exclusivity.”

She also discusses plans with her business partner on renovating the space next door to expand the factory, makes sure production is on track and approves new patterns for sweaters. There are 16 people currently working for her company, and the brand produces about 2,500 units each week. Each item sells for between $13 and $1,300.

Tyra Mavericks
Tyra Myricks

Finally, it’s lunch time

An assistant brings her lunch around noon, which today is a grilled chicken salad. Before eating it, however, she heads to the screen printer to drop off samples for Wealth’s upcoming fall/winter collection.

When she gets to Wealth headquarters around 2 p.m., she finally eats lunch as she packs all of the orders that arrived the day before, preparing to ship them to customers.

Next, she orders a double shot of espresso from Blue Bottle Cafe. Then, she keeps it moving.

Around 4 p.m. she finally ships off the Wealth packages, then heads to the Inflamed store downtown, the only brick-and-mortar location that sells Wealth. There, she restocks and checks inventory.

On to another side hustle

Next, she heads to a meeting at the pizza shop she’s opening called Juicy Pizza to discuss patio design and merchandise. Myricks said she came up with the idea of Juicy Pizza because, as a New Yorker living in Los Angeles, she felt there was “no good pizza in Los Angeles.”

Tyra Mavericks
Tyra Myricks (L)

“The more I thought about how to bring that New York theme to Los Angeles, I felt, who represents New York more than Biggie Smalls?” she continued. So she called her friend T’yanna Wallace, daughter of the late rapper, and presented her with the idea. “She loved it,” Myricks said.

Myricks also knew the importance of reaching out to Wallace because, being the daughter of the late Jam Master Jay, she knows first hand what it’s like to have people profit from her father’s name and career. “I was like I don’t want you to invest anything,” she recalled telling Wallace. “Let’s just make money together. Let’s make moves.”

The shop is set to open later this year.

Last stop: a dinner reservation downtown

At 7 p.m. she meets two friends at a Latin restaurant called Dama downtown, where she orders a celery salad with pineapple juice, Mexican corn, and an Oxtail Tostada.

She picks up shipping bags from the storage unit before heading home.

Around 9 p.m. she finally arrives home and begins to unwind, if only for a moment. She answers emails before starting her next project, a website for celebrity client merchandise, which is part of the branding agency she co-founded.

Around midnight, she falls asleep. In five hours, she will get up and do it all over again.

Read the original article on Business Insider

11 mind-blowing facts that show just how wealthy Bill Gates really is

bill and melinda gates
Bill and Melinda Gates are getting a divorce after 27 years of marriage, the couple announced Monday.

Bill and Melinda Gates are getting a divorce after 27 years of marriage.

bill melinda gates
Bill and Melinda Gates on “CBS This Morning” in February 2019.

The couple, who married in 1994, announced the divorce on Twitter on Monday.

“After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage,” their joint statement said. “Over the last 27 years, we have raised three incredible children and built a foundation that works all over the world to enable all people to lead healthy, productive lives.”

The announcement raises questions of how the couple will divide their massive fortune. Bill Gates, the cofounder of Microsoft, is the world’s fourth-richest person with an estimated net worth of $146 billion, according to the Bloomberg Billionaires Index.

The Gates live in Washington state, where all assets acquired through a marriage are split 50/50 unless otherwise specified in a prenuptial agreement. A spokesperson for Bill Gates declined to comment on whether the couple had signed such an agreement.

In another high-profile billionaire divorce in Washington state, that of Amazon founder Jeff and MacKenzie Bezos in 2019, MacKenzie Bezos walked away with 25% of the Amazon stock the couple co-owned, which was worth about $38 billion. Jeff Bezos retained the remaining stock as well as his ex-wife’s interests in the Washington Post and Blue Origin.

However their assets are divided, both the Gates will likely remain two of the richest people in the world after their divorce. Read on for 11 facts that put Bill Gates’ $146 billion fortune into perspective.

1. Bill Gates has become $41 billion richer in the past year alone.

bill gates
Bill Gates speaks ahead of former U.S. President Barack Obama at the Gates Foundation Inaugural Goalkeepers event on September 20, 2017 in New York City.

On May 4, 2020, Gates’ net worth was an estimated $105 billion. 

He’s nearly $70 billion richer than he was five years ago in 2016.

2. Based on how much wealthier Gates got in the past year, he makes approximately $4,630 per second, according to Business Insider calculations.

bill gates

That means it would not be worth his time to stop and pick up a $100 bill that he dropped on the ground.

3. If Gates spent $1 million a day, it would take him more about 400 years to spend his fortune, according to Business Insider calculations.

bill gates

But although Gates indulges in a few luxuries — such as a private plane and a massive Washington home now worth $125 million — the billionaire is known for being relatively frugal in his spending.

4. Gates is about 66% richer than the British monarchy.

queen elizabeth
Queen Elizabeth II in 2017.

The British royal family was worth an estimated $88 billion in 2017, according to Forbes.

5. Although Gates made his fortune cofounding Microsoft with Paul Allen, he only owned 1.3% of the company in 2019 – and he’s still worth $146 billion.

bill gates paul allen microsoft
Bill Gates and Paul Allen in 2984.

It’s unclear what percentage of the company Gates now owns after he stepped down as a director of Microsoft in March 2020.

6. Gates remains the fourth-richest person in the world even after giving away at least $41 billion to charity over the years.

bill and melinda gates
Bill and Melinda Gates founded the Bill & Melinda Gates Foundation in 2000.

Gates and his wife founded the Bill & Melinda Gates Foundation in 2000, which is now the largest private charitable foundation in the world and focuses on global health and poverty. Gates has donated $35.8 billion in Microsoft stock to the Bill & Melinda Gates Foundation, according to Forbes.

Bill and Melinda will remain co-chairs and trustees of their charitable organization following their divorce, the Bill & Melinda Gates Foundation, a spokesperson told Insider.

“No changes to their roles or the organization are planned,” the spokesperson said. “They will continue to work together to shape and approve foundation strategies, advocate for the foundation’s issues, and set the organization’s overall direction.”

In 2010, Gates and Warren Buffett — now the world’s seventh-richest person — founded The Giving Pledge, a charity organization that encourages the world’s wealthiest people to give the majority of their fortune to charity during their lifetime or after their death.

He has also invested $50 million into Alzheimer’s research and another $30 million to a fund with the aim of diagnosing Alzheimer’s earlier.

7. Gates is so rich that an average American spending $1 is similar to Gates spending about $1.2 million.

Bill gates

The median net worth of an average US household is $121,700, according to Federal Reserve data. Dividing $146 billion by $121,700 comes to about $1.2 million.

8. Gates’ net worth is greater than the GDP of Luxembourg, Estonia, and Bolivia – combined.

luxembourg PocholoCalapre GettyImages 836191722
Luxembourg.

Luxembourg’s GDP is about $71 billion, Estonia’s is $31.4 billion, and Bolivia’s is $40.8 billion, according to World Bank data.

9. Gates is richer than the richest person in Asia and the richest person in China, combined.

Mukesh Ambani
Mukesh Ambani, Asia’s richest person, is worth $66.3 billion.

Indian businessman Mukesh Ambani, worth $74.7 billion, is the richest person in Asia. And bottled water and vaccine billionaire Zhong Shanshan, worth $66.3 billion, is China’s richest person, according to Bloomberg’s Billionaires Index.

10. Gates could give every single living person on the planet $15 – and still have $28 billion left over.

people crowds

The world population was 7,874,758,042 as of May 2021.

11. According to the Social Security Administration, the average American man with a bachelor’s degree will earn about $2.2 million in his lifetime. Gates makes that in a little over 28 minutes.

bill gates

According to the SSA, the average American woman with a bachelor’s degree will earn $1.3 million in her lifetime.

Based on his earnings of $41 billion in the past year, Gates makes about $78,006 per minute, according to Business Insider calculations. 

Read the original article on Business Insider

Bill and Melinda Gates are ending their 27-year marriage. Here’s how the Microsoft cofounder spends his $129 billion fortune, from a luxury-car collection to incredible real estate.

bill gates
Bill Gates has an estimated net worth of $129 billion.

  • Bill Gates and his wife of 27 years, Melinda French Gates, are getting a divorce.
  • Gates, the cofounder of Microsoft, has a fortune worth $130.5 billion.
  • Gates indulges in a few luxuries, but he mainly spends through the Bill & Melinda Gates Foundation.
  • Visit Business Insider’s homepage for more stories.

Bill and Melinda Gates are ending their 27-year marriage.

The couple announced the news in a statement posted to Twitter on Monday, saying that while they plan to continue working together at the Bill & Melinda Gates Foundation, they no longer believe they can continue growing as a couple.

Gates, who cofounded Microsoft with Paul Allen in 1975, is worth $130.5 billion, according to Forbes. He’s one of only eight moguls worth over $100 billion and is currently the fourth-richest person in the world.

Gates has made some lavish purchases over the years: He owns a Washington estate worth $125 million, a private airplane, and a luxury-car collection. More recently, he dropped $43 million on a 5,800-square-foot home in Del Mar, California. But these indulgences make up only a fraction of his massive fortune, and Gates isn’t known to throw his money around.

In fact, the couple previously said it’s unfair they’re so rich. Instead of spending billions on themselves, they often donate it to charity through the Bill & Melinda Gates Foundation. They’ve also pledged to give away most of their fortune through the Giving Pledge, which they launched in 2010.

Keep reading for a look at how Gates spends his billions.

Taylor Nicole Rogers contributed to an earlier version of this story.

Bill Gates, the cofounder of Microsoft, has an estimated net worth of $130.5 billion.

Bill Gates
Bill Gates speaking at an event in Washington, 2014.

Source: Forbes

He long held the title as the world’s second-richest person until Elon Musk unseated him in November 2020.

bill gates
Microsoft founder, Co-chair of the Bill & Melinda Gates Foundation, Bill Gates, on October 9, 2019.

Source: Business Insider

Now, Gates is the world’s fourth-richest person and part of a eight-man club of people currently worth more than $100 billion.

bill gates

Source: Business Insider

Gates has invested in a variety of stocks and assets and launched a $1 billion investment fund, Breakthrough Energy, with 20 others.

bill gates

Source: Forbes

Despite his massive fortune, Gates previously told Ellen DeGeneres that when he became a billionaire at age 31 (history’s youngest billionaire at the time), he didn’t go on a spending spree.

bill gates ellen
Bill Gates on “Ellen.”

Source: Business Insider

But he has indulged in things over time, he said, like a private plane.

rich people private plane

Source: Business Insider

It’s been reported that Gates owns a Bombardier BD-700 Global Express, which costs $40 million and can seat up to 19 people.

Bombardier Global 6500 private jet
A Bombardier private jet, though not the one Gates owns.

Source: Business Insider

Gates also spent a lot on his estate, Xanadu 2.0, in Medina, Washington. It took him seven years and $63 million to build. He purchased the lot for $2 million in 1988.

Bill Gates House
This aerial photograph taken on July 13 shows Bill and Melinda Gates’ home in Medina, Washington which cost more than $60-million and four-years to build.

Source: Business Insider

At 66,000 square feet, his home is worth about $125 million today.

Bill Gates House Property

Source: Business Insider

In 2017, he paid $1,041,292.55 in property taxes on it, according to public filings.

Bill Gates House
An outside deck is shown at the home of Microsoft Chairman Bill Gates Tuesday, April 18, 2006, in the Seattle suburb of Medina, WA.

Source: Business Insider

The estate has a trampoline room, which Gates told DeGeneres his three kids love.

Bill Gates Jennifer Gates

Source: Business Insider

There are roughly $80,000 worth of computer screens sitting around the house.

bill gates microsoft

Source: Business Insider

Devices worth $150,000 can display different paintings or photographs on the screens at a single touch. However, there are real paintings on the wall as well – like the Winslow Homer painting Gates purchased for $36 million in 1988.

winslow homer lost on the grand banks

Source: Business Insider

There’s also a 60-foot pool – in its own separate, 3,900 square-foot building.

bill gates house

Source: Business Insider

That’s not to mention the 2,100-square-foot library, home to a 16th-century Leonardo da Vinci manuscript that Gates bought at auction for $30 million in 1994.

codex leicester

Source: Business Insider

Gates reportedly pays to have sand imported from St. Lucia in the Caribbean to the shore surrounding his house.

ST. LUCIA:
Kids play in the water on the beach of Rodney Bay in St. Lucia.

Source: Business Insider

In addition to a home theater for 20 guests, six kitchens, and 24 bathrooms, Gates’ house has various garages for 23 cars.

Bill Gates house

Source: Business Insider

It’s perfect for Gates, an avid luxury-car collector. His first big splurge after founding Microsoft was a Porsche 911 supercar, he told DeGeneres. He later sold it, and it was auctioned for $80,000.

Porsche 911.
A Porsche 911.

Source: Business Insider

But that wasn’t Gates’ last Porsche – he also has a Porsche 959 in his car collection.

bill gates 1988 Porsche 959
Bill Gates and a 1988 Porsche 959, not Gates’ actual car.

Source: Business Insider

Outside of his Washington pad, Gates also has a 4.5-acre vacation ranch in Wellington, Florida, with a 12,864-square-foot mansion. He reportedly dropped $27 million to buy a whole string of properties in the area. The area is hotspot for wealthy equestrians.

Horses corral
Horses in a corral, though not at Gates’ ranch.

Source: Business Insider

His daughter, Jennifer, is an accomplished equestrian, and he bought the property to support her passion.

Jennifer Gates horse

Source: Business Insider

In California, he owns the 228-acre Rancho Paseana, which he purchased for $18 million. It includes a racetrack, orchard, and five barns.

Apple orchard

Source: Business Insider

He added to his California real estate portfolio in 2020, dropping $43 million on an oceanfront home in Del Mar, California. It has six bedrooms, a 10-person Jacuzzi, and a swimming pool.

california coastline del mar homes
Del Mar, California.

Source: The Wall Street Journal

He also reportedly purchased a 492-acre Wyoming ranch, which listed for $8.9 million back in 2009.

Green River Wyoming

Source: Business Insider

But Gates’ real-estate portfolio doesn’t end there.

Bill Gates

He’s made numerous investments through his personal investment firm, Cascade, including partial ownership of Charles Hotel in Cambridge, Massachusetts.

cambridge massachusetts
Cambridge, Massachusetts.

Source: Business Insider

He reportedly owns nearly half of the Four Season Holdings’ hotel chain through Cascade, including hotels in Atlanta and Houston. Gates shares 95% ownership with Prince Alwaleed bin Talal of Saudi Arabia.

Four Seasons Hotel

Source: The Wall Street Journal

In 2013, Gates and several unnamed buyers paid $161 million for the Ritz-Carlton in San Francisco. As of 2014, it was reportedly worth $200 million.

Ritz Carlton Hotel

Source: The Wall Street Journal

When he’s not busy buying real estate or working, Gates needs a vacation or two to unwind. He’s traveled to Australia and Croatia …

Baska Voda, a tourist town on the Makarska Riviera, Dalmatia, Croatia.
Baska Voda, a tourist town on the Makarska Riviera, Dalmatia, Croatia.

Source: Travel + Leisure, Forbes

… and Belize and the Amazon in Brazil.

Ambergris, Belize
Belize is known for its sandy beaches and warm weather.

Source: Travel + Leisure, Forbes

He’s also treated his family to a Mediterranean vacation on board the 439-foot superyacht Serene, which he chartered for $5 million a week. It included a helicopter.

Yacht Superyacht Serene
The superyacht Serene is pictured at Auckland’s Wynyard Wharf in Auckland, New Zealand.

Source: The Daily Mail

He previously said that he likes to play tennis and go skiing. He’s also been spotted spectating at tennis matches.

Bill Gates watch tennis

Source: The Telegraph

But Gates’ downtime isn’t always so adventurous. He’s an avid reader, having indulged in quite the book collection.

Bill Gates reading

Source: Business Insider

He’s also an “avid bridge player,” as he once told Reddit.

Bill Gates playing bridge

Source: Business Insider

Gates hates to shop for himself, but did admit that he likes to “buy nice things” for Melinda.

bill gates melinda gates

Source: CNBC

However, he once told Reddit that he doesn’t like overspending on clothes and jewelry.

bill gates

Source: CNBC

But Gates’ splurges are only a fraction of his massive fortune. He previously told The Telegraph, “I have no use for money.” Instead, he often donates to or invests his money in good causes.

bill gates

Source: The Telegraph

Gates previously invested in Amyris, a synthetic-biology company that originally produced precursors to malaria drugs and hydrocarbon-based biofuel. Today, it focuses on health through fragrances, skincare, and sweetener.

bill gates
Bill Gates speaks ahead of former U.S. President Barack Obama at the Gates Foundation Inaugural Goalkeepers event on September 20, 2017 in New York City.

Source: Business Insider

In November 2017, Gates invested $50 million into Alzheimer’s research.

bill gates speaker

Source: Business Insider

He continued these efforts by recently investing $30 million with a group of investors into the Diagnostics Accelerator, a “venture philanthropy” fund to diagnose Alzheimer’s earlier.

Bill Gates
Microsoft co-founder Bill Gates, speaks at the Bloomberg Global Business Forum in New York City, U.S., September 20, 2017.

Source: Business Insider

Gates and Melinda have been huge on philanthropy. They were recently named the most generous philanthropists in the US by The Chronicle of Philanthropy, having donated more than $36 billion to charitable causes through the Bill & Melinda Gates Foundation.

bill gates philanthropy

Source: Business Insider

Gates agreed to give away most of his fortune through the Giving Pledge, which he launched in 2010.

Melinda Gates Bill Gates at Davos 2015
Melinda (L) and Bill Gates attend a session at the Congress Center during the World Economic Forum (WEF) annual meeting on January 23, 2015 in Davos.

Source: Business Insider

The Gateses have spent money traveling for their charity work. They donated more than $2 billion in 2016 to causes related to global health and development and US education. In 2017, they donated $4.78 billion, mostly to projects run by the Gates Foundation.

bill gates melinda gates

Source: Travel + Leisure

They’ve pledged about $2 billion to defeat malaria, donated more than $50 million to fight Ebola, and pledged $38 million to a Japanese pharmaceutical company working to create a low-cost polio vaccine.

DR Congo vaccine
A girl gets inoculated with an Ebola vaccine on November 22, 2019 in Goma, the Democratic Republic of the Congo

Source: Business Insider

The Gates Foundation has also committed at least $2.5 billion to the GAVI Alliance, which works to improve access to vaccines in poor countries.

vaccines
A nurse prepares the measles, mumps and rubella vaccine in 2019.

Source: Business Insider

Bill and Melinda also prioritize education. The Gates Foundation established the Gates Millennium Scholars Program, which has received $1.6 billion.

bill gates stanford speech

Source: Business Insider

It also partnered with the Dangote Foundation in 2016 to spend $100 million on eliminating malnutrition in Nigeria.

Nigeria

Source: Business Insider

Throughout 2020, the Gates Foundation was active in the global COVID-19 response, pledging $100 million to help fight the pandemic. A major portion of those funds were used for vaccine development.

COVID vaccine
A patient receives an injection of the Oxford/AstraZeneca COVID-19 vaccine.

Source: Business Insider

When it comes to the future of his fortune, Gates is leaving $10 million to each of his children, a fraction of his net worth.

bill gates family
Bill Gates with his daughter, Jennifer, and his wife, Melinda.

Source: Business Insider

Read the original article on Business Insider

Inside the life of Bill Gates’ daughter Jennifer, an elite equestrian who stands to inherit ‘a minuscule portion’ of her father’s $130 billion fortune

Jennifer Gates horse
An accomplished equestrian, Jennifer Gates will reportedly receive a “minuscule portion” of her father’s wealth.

Jennifer Gates, 25, is the eldest daughter of the billionaire philanthropists Bill and Melinda Gates. She has two younger siblings, Rory and Phoebe.

Jennifer Gates

Source: CNBC

While their father might be famous for founding Microsoft, Entrepreneur reported that the Gates kids had a “cap on screen time” growing up. Gates also wasn’t allowed to own a phone until she was 14.

bill gates daughter Jennifer gates family

Source: Entrepreneur

Gates and her siblings attended her father’s alma mater, Seattle’s private Lakeside High School.

Bill Gates family Melinda Jennifer

Source: Business Insider

Gates graduated from Stanford University in 2018 with a degree in human biology and took a year off to focus on her equestrian passion before going to medical school. She told Sidelines Magazine her childhood pediatrician inspired her to pursue medicine.

Jennifer Gates

Source: CNN, Business Insider, Sidelines Magazine

She’s an accomplished equestrian and has been riding since she was 6. One of her favorite horses is named Alex. “He is super sweet, down-to-earth, easy-going, but you can also go fast and have a lot of confidence, so I am really excited about him,” she told US Equestrian in November 2017.

Jennifer Gates horse

Source: Herald Weekly, US Equestrian

To support her passion, Gates’ father set about buying property in Wellington, Florida, a hot spot for wealthy equestrians. The Miami Herald reported he dropped $37 million to buy a whole string of properties near Laurene Powell Jobs’ estate.

Jennifer Gates horse

Source: The Daily Mail, The Real Deal, The Miami Herald, Business Insider

Gates has competed against Eve Jobs, as well as other famous show jumpers born to celebrities and high-profile figures, like Michael Bloomberg’s daughter Georgina, Bruce Springsteen’s daughter Jessica, and Steven Spielberg’s daughter Destry.

Eve Jobs horse equestrian

Source: Business Insider, Business Insider

While she was a student at Stanford, Gates told the Horse Network that balancing school and horseback riding made her life “a little busy, but I love doing both.”

Jennifer Gates horse

Source: Horse Network

Beyond her education and her horseback riding, Gates also makes time to travel. Her Instagram highlights past trips to Kuwait, Spain, Australia, and other exciting places.

Jennifer Gates

Source: Instagram

Bill Gates is determined for his children to forge their own paths in life. In 2011, he told The Daily Mail that his kids would each get a “minuscule portion” of his wealth, which Forbes estimates stands at $130.5 billion. “It will mean they have to find their own way,” he said.

bill gates
Bill Gates participates in a media availability on agricultural research, Thursday, March 13, 2014.

Source: The Daily Mail, CNBC, Forbes

Gates is enrolled at Mount Sinai’s Icahn School of Medicine. She just finished her first year remotely. Gates told The Chronicle of the Horse in March that all of her medical-school classes had been temporarily moved online because of the coronavirus.

Jennifer Gates

Source: ET, New York Post, Instagram, The Chronicle of the Horse

The New York Post reported that in 2017, her parents bought a $5 million condo that’s only blocks from her medical school.

Jennifer Melinda Gates

Source: New York Post

In January 2020, Gates announced her engagement to the renowned Egyptian equestrian Nayel Nassar. Nassar also attended Stanford University. “I can’t wait to spend the rest of our lives learning, growing, laughing, and loving together,” she wrote on Instagram at the time.

jennifer gates nayel nassar

Source: Forbes Middle East, Business Insider

Gates and Nassar are both riders for Paris Panthers, a show-jumping team founded by Gates, who also manages the team. In 2019, they competed and placed ninth in the Global Champions League.

Jennifer Gates Nayel Nassar

Source: CNN

Like her parents, Gates has also expressed an interest in using her privilege to help others. “I was born into a huge situation of privilege,” Gates recently told Sidelines Magazine in an interview for the publication’s July issue, “and I think it’s about using those opportunities and learning from them to find things that I’m passionate about and hopefully make the world a little bit of a better place.”

Bill Gates Jennifer Gates

Source: Business Insider, Sidelines Magazine

Read the original article on Business Insider

I ate like Warren Buffett for a week – and it was miserable

warren buffett cherry coke
Berkshire Hathaway CEO Warren Buffett

Warren Buffett is one of the most successful investors in history.

He also has a really weird diet.

Buffett’s diet of sugary soda, junk food, and limited vegetables has reached legendary status.

The Berkshire Hathaway CEO drinks about five cans of Coca-Cola products a day, constantly munches on See’s Candies, and pours so much salt on his food that John Stumpf, the former Wells Fargo CEO, said watching Buffett dole it out was like a “snowstorm.”

Business Insider has tried various people’s diets – from Elon Musk‘s to Tom Brady‘s – so back in 2017 I decided to take on Buffett’s strange food tastes for one workweek to see what it was like.

There were some basic ground rules – eat three meals a day, don’t drink alcohol, and avoid vegetables.

Overall, I just tried to maintain the general attitude by which the man himself defines his diet.

“I checked the actuarial tables, and the lowest death rate is among 6-year-olds, so I decided to eat like a 6-year-old,” Buffett told Fortune. “It’s the safest course I can take.”

The cornerstone of the Buffett diet: Cherry Coke.

Buffett diet 1 (correct size)

In 2015, Buffett told Fortune he was “one-quarter Coca-Cola.”

Buffett said he favored either Diet Coke or Cherry Coke and had at least five cans of the soda a day.

I decided to opt for exclusively Cherry Coke throughout the week, as I’m not the biggest fan of the taste of plain Coke. I am, however, a fan of cherry and cherry-adjacent soda products like Dr. Pepper and Cheerwine (it’s a North Carolina thing — Google it).

I also couldn’t purchase cans of the stuff at my local grocery store, but a two-liter works out to 5.6 cans a day, within the ballpark of Buffett’s consumption. Thus, I decided to go with one of these each day.

If you’re wondering, that works out to 252 grams, or 0.56 pounds, of sugar a day from the Cherry Coke alone. That’s right — I got 84% of my recommended daily carbohydrate intake from just the sugar in the Cherry Coke.

I didn’t initially do the math on the sugar content of the Cherry Coke, believing it was better to go into the week with a bit of blissful ignorance. While I had assumed it would be rough consuming all of the syrupy-sweet drink, I couldn’t anticipate the full devastation the Coke would have on my mood.

On the first breakfast of the week, I was nervous but had a supply of foolish confidence in my ability to handle what was ahead.

Buffett diet 2 (resize)

In the HBO documentary “Becoming Warren Buffett,” the legendary investor said his breakfast each day came from McDonald’s and was dictated by the stock market.

Typically, Buffett gets breakfast once the market is open. If stocks are up, he gets a bacon, egg, and cheese biscuit. If they’re down, he opts for a cheaper breakfast of two sausage patties. If the market is flat, as it was Monday morning before the open, he goes for the sausage McMuffin.

I get to work around 7:30 a.m. ET every day, meaning I had to base my McDonald’s selection on the premarket futures, which tend to be a bit harder to gauge. Regardless, I decided to try to factor in a bit of qualitative analysis based on the overseas markets and the previous day’s close (and, by the end of the week, what I could tolerate).

The first breakfast wasn’t too challenging. The biggest issue was the lack of coffee, as Buffett doesn’t drink the stuff.

I decided to front-load the Cherry Coke to get the caffeine I usually got from my coffee while also preventing myself from drinking soda well into the night.

Additionally, I’d decided to keep track of my weight each morning and night. For the calorie counts, the Cherry Coke totals are added to the count at dinner, since they were dispersed throughout the day.

Breakfast, Day 1: McDonald’s sausage, egg, and cheese McMuffin; Cherry Coke

Breakfast calories: 470

Monday-morning weight: 168.4 pounds

The Cherry Coke hit me like a ton of bricks.

Buffett diet 3 (resize)

I don’t drink much soda — I drink mostly water and coffee at work — so the sudden increase in the amount of corn syrup in my diet made me feel incredibly sluggish. Plus, the sugar high was so off the charts that I almost felt the tingle of the carbonation in my fingers as I was typing.

Then again, I also put down half of the two-liter before 11 a.m. in an attempt to front-load the caffeine.

My inner child was excited to have ice cream in the middle of the day. The chili-cheese dog excited me less.

Buffett diet 4 (resize)

The bun on the Dairy Queen dog was spongy, but not like an angel food cake — like an actual kitchen sponge. The hot dog tasted very salty.

The sundae was delightful. Buffett says he typically gets cherry syrup on his DQ sundaes, which was not an option at my Manhattan location. I did get his preferred chopped nuts on top.

I was feeling pretty weighed down at this point. I don’t have a big lunch most days — a salad at most — so the extra calories and copious sugar made me feel bloated.

Lunch, Day 1: Dairy Queen chili-cheese dog; strawberry sundae with chopped nuts; Cherry Coke

Lunch calories: 650

I cheated a bit on dinner for the evening, getting chicken parmigiana – which Buffett usually has as a side. (!)

Buffett diet Monday dinner placeholder

By the evening I was feeling a bit better, possibly because I finished the coke around 2 p.m.

The big test was running. I typically try to run four to five miles a day after work, and I was dreading how I would feel. I imagined keeling over and puking into the East River.

To my surprise, it was fine. I was probably a step slower than normal, but I didn’t feel too awful.

Dinner was heavy — I couldn’t finish the whole serving — but at the end of Day 1, I was doing half decent.

Dinner, Day 1: Chicken parmigiana with penne from Famous Calabria Pizza

Dinner calories: about 1,500

Total daily calories: 3,520

Monday-evening weight: 171.2 pounds

The second day started much better.

Buffett diet 5 (resize)

I lost sleep on Sunday night worrying about the challenge ahead, but after feeling decent at the end of the day, I got a good night’s sleep.

Stock futures were up on Tuesday, so I decided it would be fair to get a bacon, egg, and cheese biscuit. Coming from the South, I preferred this option over the semi-soggy McMuffin from the day before, and I felt confident as I tucked into breakfast and the second giant bottle of Cherry Coke.

Breakfast, Day 2: McDonald’s bacon, egg, and cheese biscuit; Cherry Coke

Breakfast calories: 450

Tuesday-morning weight: 170.4 pounds

For lunch, I went for a burger – another Buffett favorite.

Buffett diet 7

Now, many of my coworkers said I cheated by going with Shake Shack instead of some local restaurant, but you know what? I was the one suffering, and I deserved a slight luxury.

Another signature Buffett trait is an excess of salt, as John Stumpf, the former Wells Fargo CEO, once described.

“When the food comes, Warren grabs a salt shaker in his left hand and one in his right, and it’s a snowstorm,” Stumpf told Bloomberg in 2014.

So I threw a little extra sodium on the french fries before dipping them in the chocolate shake.

Lunch, Day 2: Shake Shack ShackBurger; french fries; chocolate milkshake; Cherry Coke

Lunch calories: 1,710

By Tuesday afternoon, I was … not feeling well.

Buffett diet Tuesday feeling

Dear God did I make a mistake.

Again, I attempted to front-load the Cherry Coke, and by 2 p.m. I was more than two-thirds of the way done with the two-liter. Not only that, but the heavy meal — especially the milkshake — was crushing my will to live.

I was jittery, grumpy, exhausted, unfocused, and downright distraught. The sugar from the Coke (roughly a half-pound a day) was causing surges and drop-offs in energy.

The increase in meat consumption was making me sweat more than usual (weirdly enough, from my kneecaps, of all places). The bloating was making my back hurt. I was a wreck after less than 48 hours.

Tuesday night might have been my low point, as evidenced by my sad dinner spread.

Buffett diet 8

In the middle of my run that evening, I texted a coworker expressing my dismay at my physical state. I was going noticeably slower than I had the day before, and I couldn’t make myself run faster. My legs simply wouldn’t move as I wanted.

Upon getting back to my apartment from the run, I was, as my notes say, “**WRECKED**” by stomach cramps. My roommate walked in as I was sitting on our couch doubled over and asked me whether I was sure I wanted to keep going.

I finally got myself together, and, unable to muster the strength to figure out a proper meal, I just made two hot dogs and ate some Utz chips — another brand Buffett loves.

I went to bed Tuesday night feeling much less enthused about the prospects for the rest of the week.

Dinner, Day 2: Two Hebrew National kosher hot dogs; Utz kettle chips; See’s Candies peanut brittle

Dinner calories: about 650

Total daily calories: 3,710

Tuesday-evening weight: 171 pounds

Another day, another bacon, egg, and cheese.

Buffett diet wednesday breakfast

Honestly, given the recent rise in the stock market, Buffett must be getting sick of these biscuits by now.

I decided to try to space out the Cokes more evenly to avoid the crashes. (Spoiler: It didn’t work.)

Breakfast, Day 3: McDonald’s bacon, egg, and cheese biscuit; Cherry Coke

Breakfast calories: 450

Wednesday-morning weight: 169.2 pounds

For lunch, I went back and found one of Buffett’s go-to lunch orders at Gorat’s, an Omaha, Nebraska, institution.

buffett diet wednesday lunch

I ordered an open-faced turkey sandwich with bacon and Thousand Island dressing from Eisenberg’s, a local sandwich shop.

I was served a closed-faced, sliced turkey sandwich with bacon and Thousand Island dressing. I wasn’t going to split hairs, so I took it back to the office as it was.

The meal was finished off by fries and some Cherry Coke.

You may ask: “Bob, did you put extra salt on the fries like you said Buffett always does?”

My answer? Yes, I did. Hope you’re enjoying my suffering so far.

Lunch, Day 3: Turkey sandwich with bacon and Thousand Island dressing from Eisenberg’s Sandwich Shop; french fries; Cherry Coke

Lunch calories: about 900

Dinner on Wednesday was veal parmigiana with an indulgence: a Hawaiian Punch. I can’t prove Buffett likes fruit punch, but, hey, it was my favorite when I was 6.

Buffett diet 6

I walked home on Wednesday and then went for a run.

I felt as if the sugar, syrup, and grease leaked from my belly to my legs. Children were passing me on the street during my walk home, and I’m usually a fast walker. Imagine having maple syrup in your joints and muscles — that’s what I felt like.

Dinner, Day 3: Veal parmigiana from Nonna’s LES Pizzeria; water

Dinner calories: 1,060

Total daily calories: 3,310

Wednesday-evening weight: 172.4 pounds

Futures were down, so I ordered two sausage patties for breakfast. But upon arriving at work, I realized the McDonald’s workers gave me only one.

buffett diet thursday breakfast

I’m still not sure whether the single patty was a good or a bad thing, but it did give me a bit of a break from heavy meals.

Also, it made me realize that McDonald’s sausage by itself is not very good. Who could’ve guessed?

Breakfast, Day 4: McDonald’s sausage patty; Cherry Coke

Breakfast calories: 174

Thursday-morning weight: 169.8 pounds

This may be the point to mention that I’ve done terrible things to my body before – and this was the worst.

bob bryan weight before and after
Left: me in April 2011, about 125 pounds. Right: me in April 2014, about 205 pounds.

I’m no stranger to massive dietary changes — I gained 80 pounds in college and then lost 45 pounds in three to four months after I graduated. (I overestimated my pay as an intern and underestimated NYC rents.)

That is to say: I’ve done some terrible things to my body via my diet before.

Even at my heaviest, I never felt this run-down. The weird thing though was that I was still hungry at every meal.

Maybe it was the chemicals from the processed food?

I was running out of idea at this point on Thursday, and honestly, I was busy with work, so I just gave up and got McDonald’s.

buffett diet thursday lunch

Fun fact: Buffett once used coupons to buy Bill Gates lunch at McDonald’s.

Oh, another reason this was such a terrible idea: I cover policy here at Business Insider, including healthcare and taxes — and, of course, I decided to try the Buffett diet on the week that Republicans again attempted to repeal Obamacare (no, the irony did not escape me) and rolled out their most detailed tax-reform framework yet.

This meant that amid my midafternoon sugar crash, I was typically forced to pull myself out of the fog and write something of substance.

To be fair to myself, I did write a considerable amount over the five days. You’d have to ask my editor Brett whether my diet hurt the quality of my writing, but I stand by everything I published.

Lunch, Day 4: McDonald’s Quarter Pounder with cheese; french fries; Cherry Coke

Lunch calories: 870

Buffett once ordered a country- (or chicken-) fried steak with Jay-Z, so I had to get it for a meal.

Buffett dinner thursday dinner

I really like country-fried steak (see my previous comment about being from the South). This one was from Cowgirl in the West Village.

Buffett isn’t a big fan of broccoli, much less collard greens, so I did cheat a bit. But, c’mon, actual collard greens at a restaurant in the North? I had to try them.

Alas, they were bad.

I went with a coworker and couldn’t finish the steak and mashed potatoes — not to worry, salt was added in extreme amounts — prompting her to call me “weak.” I replied I would take the leftovers home and finish them later (we were eating fairly early), but I happened to “forget” the bag as I left.

In a surprise to probably no one, the gravy sat heavy in my stomach. Walking to the subway, I was happy there was only one day left, but I felt terrible.

Dinner, Day 4: Country-fried steak with mashed potatoes, gravy, and collard greens from Cowgirl; water

Dinner calories: 1,540

Total daily calories: 3,484

Thursday-evening weight: 172.4 pounds

Of course Buffett eats ice cream for breakfast. Of course I was the idiot who saved it for the last day.

buffett diet friday breakfast

Remember what I said about getting used to it? Not so much on Friday morning.

I have never enjoyed ice cream less. That’s really all I have to say about this meal.

Breakfast, Day 5: Ben and Jerry’s Phish Food ice cream; Cherry Coke

Breakfast calories: 870

Friday-morning weight: 170.4 pounds

What if Buffett just says he eats all of this food to make other people like me buy it and boost his investments’ sales?

buffett diet friday lunch

Buffett owns Dairy Queen and holds considerable stock in McDonald’s and Coca-Cola. Sitting down for my final lunch, I realized I probably made the guy a lot of money that week.

The thought struck me mid-bite of an M&Ms Blizzard: I was a sucker.

Buffett is a self-mythologizer — a folk hero who presents himself as a kind grandfather but has made it in the vicious investment world. He’s a ball of contradictions and social oddities.

I couldn’t put it past him to deceive the few interviewers he trusts to cast the glow of the cult of Buffett.

On the other hand, surely people see him at these restaurants. He wouldn’t lie about his diet just to get a few suckers to boost his sales, would he?

Lunch, Day 5: Dairy Queen chili-cheese dog; french fries; M&M Blizzard; Cherry Coke

Lunch calories: 1,400

Here’s all the Cherry Coke I consumed during the week.

Buffett diet cherry cokes
Thanks to my former colleague Myles for giving me this Berkshire hat from the annual meeting in Omaha.

The sugar-and-caffeine crash came easier by Friday. I had learned how to manage the timing and frequency of the Coke intake to make sure I had a solid energy reserve all day.

But I still felt awful after I finished a bottle.

Here’s some fun math on the amount of Cherry Coke I consumed in the week:

Total amount: 338 fluid ounces, or 2.64 gallons.

Calories: 4,500.

Sugar: 1,260 grams, or 2.78 pounds.

Caffeine: 1,020 milligrams, or 204 a day. (An average cup of coffee, 8 fluid ounces, has 95 to 165 milligrams.)

For dinner, I went with a few coworkers to Smith & Wollensky, Buffett’s favorite New York City restaurant.

warren buffett plaque smith wollensky
The plaque at the restaurant bearing Buffett’s name.

Buffett comes here once a year for a dinner, at which a lucky bidder joins the Oracle of Omaha himself. In 2016, the meal went for $3.4 million. All the proceeds are given to charity.

I was joined by four of my coworkers to bask in the final meal of my epic run.

I contacted the restaurant earlier in the week to say what we would be there for, and the staffers did everything to make my experience as authentic as possible.

We sat in the private alcove where Buffett sits when he visits, with a full glass wall looking into the kitchen. There was a plaque with Buffett’s name on it and a letter from him framed on the wall.

I asked our waiter, Baci, who had served Buffett on his trip to NYC in August, to bring me what the man ate. This was a mistake.

buffett meal seafood

We started with something off-menu called the “seafood bouquet.” It featured lobster, shrimp, and lump crab meat. The seafood was divine — though it was chilled, and I typically enjoy seafood hot.

I began to feel a bit uneasy as I dined on the appetizer, thinking back to everything I had put down that week. I wanted to have an authentic meal at a favorite location of Buffett’s, but could I survive to the end?

Also, I must admit here that I broke the Buffett rules by having a bit of wine. But it was the end of the week, and can you really blame me?

Next, the steak: a 32-ounce Colorado rib-eye.

buffett meal steak
Go ahead, judge my utensil manner. Just remember my physical and emotional state.

In what can only be compared to the primitive tomahawk of a caveman, the mighty Colorado rib-eye emerged on a plate still sizzling. At that point, a glorious, freeing sense of debauchery overtook me, and I laid all of the terrible meals of the last week to the side.

The steak was a knockout.

For the first three-quarters of a pound, I consumed it with reckless abandon, ignoring the inevitable food hangover that was surely coming. The rib-eye was cooked to perfection and cut beautifully, and it contained just the right amount of fat.

When I hit the wall — and I hit it hard — there was an overriding sense of disappointment that I simply couldn’t finish the meal.

The final tallies for dinner were, in a word, monumental.

oh my god what did i just eat for a week buffett meal bob
“Oh my God, what have I done to myself?” Bob thought as he descended into a food-induced coma.

I wasn’t even drunk from the wine, but the meal knocked me out. I was struggling to form coherent thoughts as all the blood ran from my brain to my stomach, attempting to handle the influx of fat, protein, and sugar.

My coworkers and I ambled toward Grand Central Station, and I felt dazed. We decided against a post-dinner drink, and wandering off from the rest of the group, I felt unsure on my feet.

I huffed and puffed my way back to my apartment near Chinatown, sweating pure steak grease.

Upon making it back, I collapsed on the floor of my living room. I dozed off for a little over an hour, trying to pretend my stomach wasn’t bursting at the seams.

Dinner, Day 5: Seafood bouquet, 32-ounce Colorado rib-eye steak, hash browns, creamed spinach, and coconut cake from Smith & Wollensky; red wine; water

Dinner calories: 3,343

Total daily calories: 6,513

Friday-evening weight: 175.2 pounds

What did I learn?

week progress buffett diet
Me from Monday to Friday, reflecting my emotional state. If you look closely, you can see the happiness and joy for the world drain from my eyes.

Let’s get this out of the way: Don’t eat like Warren Buffett unless you are Warren Buffett.

The man himself says to be yourself instead of copying him. This applies not only to investing, but to dieting as well.

My experience was miserable, and I realized why I committed myself to eating healthy when I moved to New York. Being sluggish and moody during the day just isn’t fun.

It’s also a good lesson in recognizing limits. Buffett apparently has none; I very much do.

And, finally, I now understand Buffett’s investing strategy perfectly!

Just kidding.

I just have a few extra pounds to work off and a good story.

Average calories a day: 4,107.4

Total calories over five days: 20,537

Weight gain, Monday morning to Saturday morning: 2.4 pounds

Weight gain, Monday evening to Friday evening: 4 pounds

Read the original article on Business Insider

The life and career of Bernard Arnault, the luxury goods mogul who owns brands like Louis Vuitton – and whose wealth is surpassed only by Jeff Bezos and Elon Musk

Bernard Arnault
Bernard Arnault is the chairman and CEO of LVMH, the world’s largest maker of luxury goods.

  • Bernard Arnault briefly surpassed Elon Musk as the world’s second-richest person this week.
  • Arnault controls the massive luxury conglomerate LVMH Moët Hennessy – Louis Vuitton.
  • Four of Arnault’s children work at LVMH brands, including Louis Vuitton, Berluti, and TAG Heuer.
  • See more stories on Insider’s business page.

When it comes to the world of luxury goods, perhaps no one is more successful than Bernard Arnault.

Arnault, the 72-year-old CEO of French luxury conglomerate LVMH Moët Hennessy – Louis Vuitton, has built his fortune over the span of almost four decades, amassing a luxury-goods empire that includes some of the best-known names in fashion, jewelry, and alcohol, including Louis Vuitton, TAG Heuer, and Dom Perignon.

Along the way, Arnault has brought four of his five adult children into the fold, building a family-run conglomerate that has resulted in the world’s third-largest fortune.

Here’s how Arnault got his start and became one of the richest people in the world.

Marissa Perino contributed reporting. Taylor Nicole Rogers contributed to an earlier version of this story.

The 72-year-old French businessman is the chairman and CEO of LVMH Moët Hennessy – Louis Vuitton, known as LVMH. Arnault owns a 97.5% stake in Christian Dior, which controls 41.2% of LVMH.

bernard arnault lvmh

Source: Bloomberg

Arnault comes from the northern French town of Roubaix – he studied engineering at one of France’s most prestigious schools, the École Polytechnique. After graduating, Arnault went to work for his father’s construction company, Ferret-Savinel.

Ecole Polytechnique
Students from Ecole Polytechnique.

Source: Bloomberg, Business Insider

In 1984, Arnault acquired an ailing company called Agache-Willot-Boussac, which owned brands like French department store Bon Marche and the fashion house Christian Dior. He renamed the firm Financiere Agache and initiated a turnaround, cutting costs and selling off some of its businesses.

bernard arnault
LVMH vice president Alain Chevalier and Bernard Arnault, then CEO of Financiere Agache, at an event in Paris in 1988.

Source: Bloomberg

Soon after, he bought fashion house Celine and funded the French designer Christian Lacroix.

Celine

Source: The New York Times

In the late 1980s, Arnault said his goal was to run the world’s largest luxury company within the following decade. He then set his sights on LVMH Moët Hennessy – Louis Vuitton, spending $2.6 billion buying up shares in order to become the company’s largest shareholder, and its chairman and CEO by 1989.

Bernard Arnault
Bernard Arnault circa 1980.

Source: The New York Times

Arnault married Anne Dewavrin in 1973 and they had two children together before separating in 1990. Arnault remarried to Helene Mercier, a Canadian concert pianist, in 1991.

helene mercier bernard arnault
Helene Mercier and Bernard Arnault.

Source: Financial Times, Forbes

He reportedly wooed her by playing Chopin and other classical composers.

bernard arnault
Arnault at his home in 2000.

Source: Forbes

The French billionaire and his wife live on Paris’s Left Bank, south of the Seine River, a historic area that includes neighborhoods such as the Latin Quarter and St. Germain-des-Prés.

paris

Source: Bloomberg, The New York Times

In their home, Arnault keeps a collection of modern and contemporary art from artists that include Jean-Michel Basquiat, Damien Hirst, Maurizio Cattelan, Andy Warhol, and Pablo Picasso.

picasso painting art sothebys
Art handlers hang “Tete De Femme” by Pablo Picasso at a 2016 Sotheby’s auction in London.

Source: Bloomberg

Arnault has five children: two with his first wife and three with his current wife.

Bernard Arnault sons
Arnault with three of his sons at the Roland Garros 2018 French Open tennis tournament in Paris in June 2018.

Source: The New York Times

Antoine Arnault and Delphine Arnault are his two children from his first marriage.

bernard arnault children
Antoine and Delphine Arnault with their father, Bernard Arnault, in 2015.

Source: The New York Times, LVMH

Delphine, Arnault’s oldest daughter, is the apparent heiress to the LVMH empire.

delphine arnault
Delphine Arnault.

Source: The New York Times

She started her career at American consultancy firm McKinsey & Co. in Paris and is now the executive vice president at Louis Vuitton.

delphine arnault
Delphine Arnault in 2001.

Source: Business of Fashion, The New York Times

In January 2019, Delphine became the youngest member of LVMH’s executive committee at age 43.

bernard arnault delphine arnault
Bernard Arnault and Delphine Arnault.

Source: MDS

Delphine married Italian wine heir Alessandro Vallarino Gancia in 2005 in what Forbes called “France’s wedding of the year.” The couple divorced in 2010.

delphine arnault wedding
Delphine Arnault and Alessandro Vallarino Gancia.

Source: Forbes, Business Insider

She now reportedly lives with tech billionaire Xavier Niel and has one daughter. But Delphine is notoriously private about her personal life. “I’m quite discreet,” she told the Financial Times in a rare 2014 interview. “I think I’d rather focus on my work.”

delphine arnault
Xavier Niel, Delphine Arnault, and Bernard Arnault in Paris in April 2018.

Source: Financial Times

Delphine’s younger brother, Antoine, is chief executive of menswear label Berluti and chairman of the cashmere label Loro Piana, both LVMH brands.

antoine arnault

Source: The New York Times, LVMH

In addition to those roles, Antoine was named head of communications and image for LVMH in June 2018.

antoine arnault
Antoine Arnault at a Louis Vuitton show in January 2019 in Paris.

Source: Business of Fashion

He’s married to supermodel Natalia Vodianova, whom he reportedly met on a shoot for a 2008 Louis ­Vuitton campaign when he was the brand’s head of communications.

antoine arnault natalia Vodianova
Antoine Arnault and Natalie Vodianova during 2019 fashion week in Paris, France.

Source: W Magazine

The couple lives in Paris with their two children and Vodianova’s three children from a previous marriage.

antoine arnault natalia
Natalia Vodianova and Antoine Arnault during Paris Fashion Week in January 2019.

Source: W Magazine

Alexandre, the son of Bernard Arnault and Helene Mercier, was the CEO of Rimowa, a German luggage brand owned by LVMH.

alexandre arnault
Alexandre Arnault at Foundation Louis Vuitton in October 2018 in Paris.

Source: The New York Times, LVMH, Getty Images

Following LVMH’s acquisition of Tiffany & Co. last year, Alexandre was named Tiffany’s executive vice president of product and communications.

alexandre arnault bernard
Alexandre Arnault and his father, Bernard Arnault.

Source: Business Insider

He appears to be friends with Evan Spiegel, the chief executive of Snap, Snapchat’s parent company. Spiegel told The New York Times that Alexandre is “a really creative guy” and that “he’s constantly thinking about the brand and how to express that.”

arnaults
Delphine Arnault and Alexandre Arnault.

Source: The New York Times

Alexandre’s younger brother, Frederic, also has a role at LVMH. He joined the conglomerate as the strategy and digital director at Swiss luxury watch brand TAG Heuer, LVMH’s largest watch brand, in 2018. Last June, Frederic became TAG Heuer’s CEO.

Bernard Arnault son
Bernard Arnault and his son Frederic Arnault in June 2018.

Source: The New York Times, Robb Report

Frederic graduated from his father’s alma mater, École Polytechnique in Paris, and interned at Facebook and consulting firm McKinsey before joining LVMH as the temporary head of connected technologies at TAG Heuer in 2017.

frederic arnault
Frederic Arnault at a TAG Heuer auction in October 2018 in London.

Source: The New York Times

Arnault’s youngest son, Jean, age 21, is the only one of his children not involved at LVMH.

bernard arnault sons jean
Jean Arnault (front left) with his brother, Frederic (center) and father, Bernard (right).

Source: The New York Times

Like many billionaires, Arnault travels by private jet.

bernard arnault private jet
Bernard Arnault on his private jet between Beijing and Shanghai in 2004.

Source: Getty Images

He owns a sprawling vacation villa in glitzy Saint-Tropez on the French Riviera …

bernard arnault st tropez villa
Bernard Arnault’s Saint-Tropez villa in 2015.

Source: Telegraph

… where he has been seen enjoying some tennis matches.

bernard arnault tennis
An undated photo of Arnault playing tennis in Saint Tropez.

Source: Getty Images

Arnault has also reportedly spent at least $96.4 million on residential properties in Los Angeles in the Beverly Hills, Trousdale Estates, and Hollywood Hills neighborhoods.

beverly hills california

Source: The Real Deal

Arnault has rubbed shoulders with some of the world’s influential figures, in the fashion world and otherwise. In 2017, he met President Donald Trump at Trump Tower in New York City right before Trump’s inauguration to discuss expanding LVMH factories in the US.

donald trump bernard arnault

Source: WWD

He was photographed at parties with Lady Diana, Princess of Wales.

bernard arnault princess diana
British fashion designer of Dior John Galliano, magazine editor Liz Tilberis, Lady Diana, Princess of Wales, with Helene Mercier and Bernard Arnault CEO at the Dior 50th Anniversary party at the Metropolitan Museum of Art in New York.

Source: Getty Images

Arnault was reportedly friends with Apple founder Steve Jobs, who once said to Arnault: “You know Bernard, I don’t know if in 50 years my iPhone will still be a success but I can tell you, I’m sure everybody will still drink your Dom Pérignon.”

steve jobs
Steve Jobs.

Source: CNBC

Former Goldman Sachs chief executive Lloyd Blankfein once called Arnault “a complete visionary,” adding that he “saw the increase of wealth in the world.”

Lloyd Blankfein
Goldman Sachs Group chairman and CEO Lloyd Blankfein.

Source: CNBC

Arnault is reportedly longtime friends with former French president Nicolas Sarkozy. Arnault was a witness at the former president’s wedding to Carla Bruni.

Bernard Arnault Nicolas Sarkozy
Bernard Arnault and former French president Nicolas Sarkozy at an event in 1994.

Source: The New York Times

Here, Arnault can be seen shaking hands with Vladimir Putin during the Russian president’s 2003 visit to the Chateau Cheval Blanc vineyard in France, which is owned by LVMH.

putin bernard arnault
Vladimir Putin and Bernard Arnault at the Chateau Cheval Blanc on in Saint Emilion, France, in February 2003.

Source: LVMH

Arnault considered legendary late designer and Chanel creative director Karl Lagerfeld a good friend. “The death of this dear friend deeply saddens me, my wife and my children,” Arnault said in a statement upon Lagerfeld’s death. “We loved and admired him deeply. Fashion and culture has lost a great inspiration.”

karl lagerfeld bernard arnault
Karl Lagerfeld and Bernard Arnault in Paris in June 2018.

Source: LVMH

Arnault has a longstanding public rivalry with Francois Pinault, the founder of luxury group Kering, who’s worth about $50 billion.

francois pinault
François-Henri Pinault, Francois Pinault’s son.

Source: Bloomberg

Kering owns brands including Gucci and Yves St. Laurent. The billionaire also owns Christie’s auction house.

francois pinault
François-Henri Pinault, Francois Pinault’s son.

Source: Bloomberg

LVMH originally tried to acquire a majority stake in Gucci in 1999, but Pinault ultimately snatched up the brand.

gucci

Source: Forbes

Over the years, Arnault has built LVMH into the largest luxury conglomerate in the world and earned himself an imposing nickname: “the wolf in the cashmere coat.”

bernard arnault

Source: The New York Times

He’s behind the creation of Foundation Louis Vuitton, a Frank Gehry-designed contemporary art museum and performance space in Paris that opened in 2014.

fondation louis vuitton paris

Source: The New York Times

Arnault is getting richer at an astonishing rate. In January 2019, he made $4.3 billion in a single day after LVMH shares surged 6.9%. And just 16 months later, on June 19, Arnault again made news when he became the third person in the world to reach a $100 billion net worth.

bernard arnault

Source: Bloomberg

In April 2019, LVMH released a statement on behalf on the Arnault family, pledging 200 million euros, or about $218.8 million, to help rebuild the Notre-Dame Cathedral, which was damaged in a 2019 fire.

notre dame fire
Smoke billows as fire engulfs the spire of Notre Dame Cathedral in Paris, France April 15, 2019.

Source: Le Figaro

The coronavirus pandemic knocked Arnault down the Billionaires List. By May 2020, pandemic-related shut-downs sank LVMH’s stock more than 17% from where it was at the start of 2020, sending Arnault’s personal net worth down more than $30 billion.

dior store closed coronavirus
Closed and boarded up store fronts of luxury fashion brands Versace and Dior during Coronavirus crisis, Chicago.

Source: Bloomberg

In November 2020, LVMH completed its nearly $16 billion acquisition of jeweler Tiffany & Co., a history-making deal in the luxury sector. The contentious deal came after multiple lawsuits, a public war of words, and a $400 million discount.

FILE PHOTO: A Tiffany & Co. logo is seen outside a store in Paris, France, November 22, 2019. REUTERS/Gonzalo Fuentes/File Photo
A Tiffany & Co. logo is seen outside a store in Paris

Source: Business Insider

LVMH recorded 44.7 billion euros in revenue 2020 (roughly $54 billion), a 17% decrease from the year prior.

louis vuitton

Source: LVMH, Business Insider

However, LVMH appears to be bouncing back in 2021: Revenue was up 32% in the first quarter compared to the same time last year. The company said it saw strong sales in fashion and leather goods in the beginning of the year, as well as an uptick in alcohol sales in the first quarter, particularly Champagne.

Dom Perignon

Source: Business Insider

With an estimated worth of $150 billion, Arnault is currently the world’s third-richest person, surpassed only by Jeff Bezos and Elon Musk. This week, he briefly leapfrogged Musk to become the world’s second-richest person.

bernard arnault

Source: Bloomberg, Business Insider

Read the original article on Business Insider

Comedian Lil Rel Howery is using the streaming app KweliTV to give Black content creators more ownership over their work

Lil Rel Howery
Lil Rel Howery.

  • Lil Rel Howery, an actor and comedian, was in “Get Out” and “Judas and the Black Messiah.”
  • He’s also the comedy head at the Black-owned streaming service KweliTV.
  • He told Insider about his plans to help redefine Black comedy.
  • See more stories on Insider’s business page.

Last summer, the actor and comedian Milton “Lil Rel” Howery grabbed his phone and scrolled through Twitter. An ad for the Black-owned streaming service KweliTV stopped him.

Enamored of the premise of a Black-owned media company, Howery downloaded the app and binge-watched indie shorts and feature films for two days. He reached out to KweliTV through a direct Twitter message, and DeShuna Spencer, KweliTV’s founder, responded.

“I was already in the mindset of wanting to jump into the streaming game,” Howery, 41, told Insider. “So I told her I’ve been watching everything and I was a fan of what she was doing.”

Founded in 2017, KweliTV has over 40,000 subscribers and offers over 500 films and shorts from independent Black creators, including dramas and documentaries. After several conversations with Spencer about the state of Black media and new techniques for content creation, Howery became the head of comedy at KweliTV in October.

Howery, who is scheduled to host the Oscars preshow on Sunday, has made a name for himself by appearing in films and TV shows such as “Get Out,” “Judas and the Black Messiah,” and “Bad Trip.” With his new position, Howery is reassessing the role of comedy in Black culture.

DeShuna Spencer, founder & CEO of kweliTV.
DeShuna Spencer, the founder and CEO of KweliTV.

He’s greenlighted nearly 30 projects, including an animated series, “The Matumbila’s,” about a Tanzanian immigrant family adjusting to the social mores of the US.

“Our business model is built around shifting the Black narrative, helping to dismantle implicit bias, and increasing the visibility and economic inclusion among Black creatives,” Spencer told Insider. She added that after the first few conversations with Howery, “I became excited about what we could build together.”

The ’90s are often referred to as the golden age of Black television, with sitcoms such as “Martin,” “Living Single,” and “Moesha,” among others. But some of the creators of these shows didn’t have equity in their work. That’s something Howery and Spencer can change – and they’re eager to do so.

Allissa V. Richardson, a journalism professor at the University of Southern California, told Insider that now there’s a need for content made for Black people, by Black people, especially in comedy.

“People are turning away from things that don’t make them feel good,” she said. “They want to escape into a world where Black life is limitless, fun, and funny. And our entertainment typically does that.”

“It is a blessing in disguise that we weren’t accepted by all these networks and studios,” Howery added. “It’s forced us to do our own stuff.”

‘You can create your own table’

Howery has trained for years to be a comedy executive. He’s attended Hollywood pitch meetings and executive-produced his own work. On every set, he asks “a million questions.” He’s diligently observed how producers strategize, how directors lead, and how editors craft.

Grasping both the creative and the technical aspects of the entertainment business gave him an open mind when selecting content for KweliTV, he said. During a time of social and political unrest, Howery wants to offer content that makes people feel good.

Sean Bartley
Sean Bartley created the TV series “Connect.”

“Everything can’t just be about slavery. It’s OK to talk about, but we have more stories than that,” he said. “There are different types of Black people all over the world doing different things.”

Each Sunday, Howery goes through content submissions with Spencer and calls creatives to talk through their ideas. One of the hardest parts of the job is saying no to creators, he said, especially since he knows filmmakers are emotionally and financially invested in their work.

“When it’s bad but shot well,” he said, “that’s irritating – it looks beautiful, but it’s the worst thing you’ve ever seen in your life.”

One of the projects Howery has greenlighted is “Love, New York,” a short directed by Dionna McMillian that follows a struggling actress on her way to a big audition. McMillian told Insider that, as she’s an independent filmmaker, much of what she’s able to accomplish is through the willingness of others to invest in not only her work but her brand.

“When your film receives a stamp of approval from an established comedian, people tend to be more willing to watch your work and believe it’s actually a funny film,” McMillian said.

Zulfiqar Manzi
Zulfiqar Manzi, the creator of “The Matumbila’s.”

Sean Bartley is the creator of the TV series “Connect,” which chronicles the lives of four friends and their entrepreneurial journeys; the second season premiered in February on KweliTV. Bartley said that the benefit of having Howery greenlight content helped him realize that creators don’t always need major networks to greenlight projects.

“You can create your own table and state your own claim,” he said.

Zulfiqar Manzi, the creator of “The Matumbila’s,” agreed. “Even though the family comes from Tanzania, there is still relatability,” Manzi said. “Howery understands anything that’s funny first can work.”

Creators get paid quarterly and based on minutes watched of their episodes. The payment to producers such as Manzi is split 60/40: Manzi takes home 60% of the royalties, while KweliTV receives 40%.

KweliTV’s future

Howery is aware there are other Black-owned networks, such as Diddy’s Revolt and the Black News Channel, cofounded by former Rep. J. C. Watts. “We don’t have to compete,” he said. “Maybe at some point we can figure out a way to combine forces and turn into these big players out here.”

Describing himself as “hands-on” with creatives, Howery said that connecting with others as a comedy head had inspired him to invest more in carving out a space for himself in Hollywood. Similar to the producer and actress Issa Rae, Howery believes it’s important to connect with next-generation talent, especially as more creatives become their own executives and streaming services continue to overtake traditional media.

Aside from Howery, Spencer runs the company alone. Howery brought on an assistant, who helps him look through submissions. The next step for the platform is to increase its presence internally and to double down on making it a “safe space” by introducing more wellness topics, Spencer said.

Though he’s carving out his own path, Howery hasn’t forgone traditional Hollywood. He wants the industry to pay attention to the app to find up-and-coming talent to work with. Even he still works full time as an actor and comedian – he wants more Black creatives to continue to rise in Hollywood, paving the way for others who want to do the same.

“Have your hand in everything while building your own tools,” he said. “After that, figure out how to build a home.”

Read the original article on Business Insider

Mark Zuckerberg’s net worth has grown over $40 billion in the last year alone. Here’s how the 36-year-old Facebook CEO makes and spends his $114 billion fortune.

Mark Zuckerberg and Priscilla Chan
Priscilla Chan and Mark Zuckerberg.

  • Mark Zuckerberg’s fortune passed $100 billion last year, making him one of eight centi-billionaires.
  • Zuckerberg drives an affordable car and wears basic clothes, but appears to splurge on real estate.
  • Zuckerberg and his wife, Priscilla Chan, also invest in childhood education and medical research.
  • See more stories on Insider’s business page.

It’s been a challenging year for Mark Zuckerberg.

He’s testified before lawmakers on multiple occasions, attempted to quash coronavirus misinformation on Facebook, and suspended President Donald Trump from the platform. And earlier this month, 533 million Facebook users’ personal data and phone numbers were leaked online.

At the same time, Zuckerberg is richer than he’s ever been. Last summer, after Facebook launched an Instagram feature to compete with TikTok in the US, Zuckerberg’s personal net worth reached over $100 million for the first time.

These days, his fortune has reached $114 billion.

Keep reading to learn more about how the Facebook cofounder makes and spends his centibillion-dollar fortune.

Taylor Nicole Rogers contributed to an earlier version of this story.

In May 2012, eight years after its founding, Facebook debuted on the New York Stock Exchange. At the time, it was the biggest technology IPO in history.

mark zuckerberg facebook ipo nasdaq
Facebook Inc. CEO Mark Zuckerberg is seen on a screen televised from their headquarters in Menlo Park moments after their IPO launch in New York May 18, 2012.

Source: Business Insider

Most of Zuckerberg’s fortune is derived from his 13% stake in Facebook. While Facebook spent more than $25 million on him in 2020 alone, his take-home pay is just $1.

Mark Zuckerberg

Source: Bloomberg, Business Insider

Despite his status as one of the richest tech moguls, the 36-year-old Harvard dropout leads a low-key lifestyle with his wife, Priscilla Chan, and their two young daughters.

Mark Zuckerberg Priscilla Chan

Like many other Silicon Valley stalwarts, Zuckerberg doesn’t dress in flashy suits – he keeps things simple in jeans, t-shirts, and sweaters. But they’re reportedly much more expensive than they look, retailing for hundreds, and even thousands, of dollars.

Mark Zuckerberg

Source: Business Insider, GQ

Zuckerberg is known for driving relatively inexpensive cars. He’s been seen in an Acura TSX and a Honda Fit, both of which are valued at or under $30,000.

Mark Zuckerberg in his car

Sources: Business Insider, CNBC

He’s also been spotted driving a black Volkswagen Golf GTI, a car that he bought well after making his fortune. That car would cost about $30,000 new.

Volkswagen Golf GTI

Source: Business Insider

But he has dropped serious cash on at least one sports car: an Italian Pagani Huayra that sells for about $1.3 million.

mark zuck pagani huayra
Mark Zuckerberg and a Pagani Huayra. Not Zuckerberg’s actual car.

Source: Business Insider; Yahoo

There’s one thing Zuckerberg doesn’t seem to mind splurging on: real estate. In May 2011, he bought a 5,000-square-foot home in Palo Alto for $7 million. He’s since tricked it out with a “custom-made artificially intelligent assistant.”

mark zuckerberg house home palo alto 4x3

Source: San Francisco Chronicle, CNBC

The next year, Zuckerberg began buying the properties surrounding his home, spending more than $30 million to acquire four homes, with plans to level them and rebuild.

mark zuckerberg

Source: San Francisco Chronicle, CNBC

He also owns a townhouse in the Mission District of San Francisco. He bought the 5,500-square-foot home in 2013 and proceeded to make over $1 million in renovations, including adding a greenhouse and remodeling the kitchen.

san francisco dolores park covid social distancing park
People are seen at Dolores Park in the Mission District in San Francisco in May 2020.

Source: Curbed San Francisco

In 2014, the billionaire’s real-estate portfolio jumped the Pacific when he spent $100 million on two properties on the island of Kauai: the Kahu’aina Plantation, a 357-acre former sugarcane plantation, and Pila’a Beach, a 393-acre property with a white-sand beach.

Kauai, Hawaii
A beach in Kauai, Hawaii.

Source: Business Insider, Forbes

But the couple’s presence in Hawaii has drawn backlash over the years: In 2016, Zuckerberg angered neighbors by constructing a 6-foot wall around his property, and in 2017, Zuckerberg filed suit against Hawaiian families who had legal-ownership claims on parcels of land within his property. Though he dropped the suit, residents accused him of “neocolonialism.”

Kauai, Hawaii
A rainbow at Shipwreck’s Beach in Kauai.

Source: Business Insider

Zuckerberg has also shelled out for two lakefront properties on Lake Tahoe, which cost a combined $59 million. One of the houses, called the Brushwood Estate, spans 5,233 square feet on six acres of land. The property features a guest house and a private dock.

Zuckerberg Tahoe house

Source: Business Insider, SF Gate

Between his two Lake Tahoe properties, Zuckerberg owns about 600 feet of private shoreline on Lake Tahoe’s west shore.

Zuckerberg tahoe house

Source: Business Insider, SF Gate

 

When Zuckerberg buys properties, he tends to buy the other homes surrounding it for privacy reasons, just as he did in Palo Alto.

Mark Zuckerberg

Source: Business Insider

 

Zuckerberg doesn’t appear to travel much for pleasure. But when he traverses the globe for work, Facebook foots the bill: Security for Zuckerberg and his family cost the company $23 million in 2020, according to the company’s most recent proxy statement.

Mark Zuckerberg security

Source: Business Insider

But Zuckerberg’s travel mostly ground to a halt in 2020. He appeared to spend a lot of his time in Hawaii, riding a $12,000 electric surfboard and kayaking with his family.

 

Source: Business Insider, Daily Mail

But ultimately, opulence and luxury are just a blip on Zuckerberg’s radar. In fact, his main priority seems to be giving his money away, rather than spending it.

mark zuckerberg

Zuckerberg has signed onto the Giving Pledge, joining Bill Gates, Warren Buffett, and over 200 other millionaires and billionaires who have vowed to donate the majority of their wealth to philanthropy. He plans to sell 99% of his Facebook shares during his lifetime.

bill gates mark zuckerberg friends

Source: Business Insider

Zuckerberg said in September 2017 that he planned to sell 35 to 75 million shares over the following 18 months to fund the Chan Zuckerberg Initiative, totaling between $6 billion and $12 billion.

Mark Zuckerberg

Source: Business Insider

The Chan Zuckerberg Initiative is a philanthropic organization Zuckerberg founded with his wife in 2015 focused on “personalized learning, curing disease, connecting people, and building strong communities.” CZI has awarded roughly $2 billion in grants over the years.

Mark Zuckerberg and Priscilla Chan

Source: Business Insider, CZI

CZI is invested in tackling both local and global issues. In 2020, for example, the organization poured $4.2 million into a jobs program for residents of Kauai and committed $1 million to help the region battle the coronavirus. CZI has also contributed millions in the last year to causes like criminal justice reform and affordable housing.

chan zuckerberg initiative mark zuckerberg priscilla chan

Source: Business Insider, CZI

Zuckerberg and Chan have also poured billions into research focused on curing the world’s diseases by the end of the century. In order to accomplish this lofty goal, the Chan Zuckerberg Initiative launched a nonprofit called Biohub to start looking into the cure for disease, including research on genomics, infectious diseases, and implantable devices.

zuckerberg chan married

Source: Business Insider, Business Insider

Zuckerberg believes that Biohub will help speed up research to cure disease, telling The New Yorker in 2018 that “we’ll basically have been able to manage or cure all of the major things that people suffer from and die from today. Based on the data that we already see, it seems like there’s a reasonable shot.”

facebook ceo mark zuckerberg

Source: The New Yorker

Last August, the launch of a new Instagram feature designed to compete with TikTok sent both the company’s share price and Zuckerberg’s net worth to new heights. The move caused Zuckerberg’s net worth to exceed $100 million for the first time, making him one of only a few centi-billionaires on Earth. These days, he’s worth $114 billion.

mark zuckerburg
Zuckerberg.

Source: Bloomberg

Read the original article on Business Insider

A day in the life of a 23-year-old, 6-figure-earning marketing entrepreneur who started as a waitress at Steak-n-Shake

Sherane Chen
Sherane Chen

At 16, Sherane Chen started her first job at Steak-n-Shake as a waitress. By the age of 21, she’d launched a business specializing in restaurant marketing. Today it earns six figures, and Chen also works full-time as a marketing lead.

She got here by gaining restaurant industry experience, studying marketing, and having the confidence and wherewithal to spot an opportunity to combine her two areas of expertise.

During and after college at the University of North Florida where she studied communications, Chen worked in restaurants. She made sure to build a savings, because she knew one day she wanted to start her own business.

After years as a waitress, she got a job in marketing at a local place called Oceanside Grill where she learned the operational aspects of the restaurant business. When she launched her own marketing firm focusing on social media management, graphic design, video creation, and hiring in 2019, Chen landed her first clients selling marketing services door to door.

“I would say, ‘hey I found your social and saw you weren’t active and I wanted to give you some tips on how you can get more customers in the door,'” she told Insider. She would leave behind her business card and wait for them to call.

Today her company has 17 clients and makes over six figures a year, according to documents provided to Insider. Chen also works full-time as a marketing lead at a business coaching company. To Insider she reveals what her typical day is like, from walks on the beach, to endless Zoom calls with clients.

She wakes up at 7 a.m. making her first of many cups of coffee

Chen’s day typically begins at 7 a.m.

The eponymous restaurant company she founded has always been remote, which has allowed her to work from wherever, whenever. It currently has two-full time staffers including a graphic designer, a social media manager, and a part-time copywriter.

Before the pandemic, Chen used to work from local coffee shops, but now that she’s working from home, she invested in a top-tier coffee machine that keeps her going throughout the day. “I truly don’t know a marketer who doesn’t love a good cup of coffee to get all of the creative juices flowing,” she added.

Sherane Chen

After having her coffee, she then either makes breakfast or “treats” herself to a breakfast from a restaurant nearby. “Whenever I eat out for breakfast I usually take my computer so I can work on a few things while I’m out,” she continued. “The area I live in is peaceful and not very crowded so it’s usually just me getting things done while enjoying pancakes, eggs, bacon, and whatever else I decide to have that day.”

Around 9 a.m. she prepares to Zoom with her clients

After finishing breakfast, she prepares for her meetings with clients, which have been happening over Zoom since the pandemic struck.

Normally, she said, she would meet them at their restaurant to work on rebranding various parts of it, such as the menu, or develop new general marketing strategies. “We work on the strategy together and then I re-assign to my employees who took over most of the tactical things for me,” she said.

This part usually takes up most of her day. Meanwhile, Chen also makes ads for her own business, which she then runs on platforms such as YouTube, Instagram, and Facebook to help attract new clients.

Aside from running her own company, Chen also spends her day working as marketing and sales lead for a business coaching company called The Unstoppable Entrepreneur owned by Kelly Roach. Chen has worked there for nearly two years and makes six figures there, as well. For that company, she helps manage the marketing team, ads, and helps coach Roach’s clients on the various aspects of marketing.

Chen always finds time to take a ‘breather’ during the day

Like most, her workload depends on what day she is having. “It’s not the same every day,” she said. “Some days are super chill and others are hectic. All holidays are really busy, and the start of each season – spring, summer, fall, and winter.”

Once Chen finishes the bulk of her workload, typically after lunch or in the early evening, she goes to get some fresh air. Her favorite place to go is the beach because it’s close to where she lives. “Taking a walk along the beach really helps to clear my head and gives me the boost of energy I need after being on the screen for so long,” she said.

Sherane Chen

Often during the day, Chen hops on the phone with her mentor Bruno DiFabio, a pizza chef who’s been helping her “learn the ropes” of the restaurant business for the past two years. Together they chat about ways to help grow her business.

And he isn’t the only mentor Chen has had these past few years – at 19, she met local business owner Nate Mayo, who does social media marketing and photography for various Jacksonville-based restaurants, and has a viral Instagram account that highlights popular food places in the area. Chen snagged an internship with Mayo around 2016 and began working for him, which inspired her to launch her own company.

Chen also counts Roach as a mentor as well. “Kelly has taught me how to be resilient and how to be the best what you do,” she said. “She taught me how to work for the things I want and never give up.”

After her ‘breather’ she goes straight back to work

She typically holds more meetings with restaurant owners throughout the evening, especially since the “lunch rush” is finished, which is usually around 2 p.m. She also continues assignments for Roach’s company.

Chen says to manage the workload of having two jobs she makes sure to always take some time off. She books vacations and takes breathers such as the walk above. Chen also sometimes gets up an hour early to clear her head and prepare herself to stay focused for the day ahead.

After her breather, she usually goes back to work but likes to make a “quick snack.” She likes to recreate YouTube recipes, such as the snack she made pictured below. “I found this on Youtube years ago and have been eating it ever since,” she said. “Brown rice cakes, almond butter, and chia seeds are really filling and hit the spot when you are not a big lunch person.”

Sherane Chen
A snack

Around 6 p.m. she takes photographs outside

Chen’s favorite time of the day is “golden hour” – around 6 p.m. when the sky is a golden-tinted yellow. Chen takes advantage of the good quality light to take photographs of food she is seeking to help advertise.

Sometimes she has to hire someone to help her do it, as work can get busy. “I don’t really get a chance to do food photography anymore,” she said. “When I do have time to go, I love it.”

She eats dinner around 7:30, this day choosing to grab Mediterranean food. Afterward, she spends time studying – reading new books to help her gain knowledge in different areas outside of marketing. She’s currently reading “Zig Ziglar’s Secrets of Closing the Sale” by Zig Ziglar and “Spin Selling” by Neil Rackham.

Sherane Chen

She goes to bed around 11 p.m.

Chen says she doesn’t really “finish” work until around 11 pm. “People always need me all day,” she said, of her marketing exec job. “It’s a management role so I always get my team texting me at all hours.”

But when the calls finally stop and the text messages slow down, Chen has time to think about her next business idea – a podcast agency that helps brands and entrepreneurs achieve success in podcasting. She’s already started running ads for the venture.

“I’m working toward seven streams of income to be a millionaire by 2025,” she said, adding that she has a dream board of other projects she would like to helm. Asked about possible burnout, Chen let her ambition answer for her. “Just keep your focus on what you’re working hard for,” she said. “If you want it bad enough, you’ll make it happen.”

Read the original article on Business Insider

A triplex penthouse that was once Miami’s most expensive listing just sold at a 27% discount after 6 years on the market. Take a look inside.

miami beach penthouse
The penthouse offers stunning views of South Beach and downtown Miami.

  • Real-estate developer Ian Bruce Eichner sold his Miami Beach penthouse for $35 million after 6 years on the market, per the WSJ.
  • The 11,031-square-foot condo occupies three floors at the top of a 42-story tower.
  • I toured the penthouse in May 2019, when it was the priciest listing in Miami-Dade County.
  • See more stories on Insider’s business page.
Real-estate developer Ian Bruce Eichner has sold his three-level Miami Beach penthouse for $35 million, six years after he put it on the market, Candace Taylor reported for The Wall Street Journal.

continuum miami

The 11,031-square-foot condo, at the top of the 42-story Continuum tower in the South of Fifth neighborhood, was Eichner’s personal penthouse. He first put it on the market it in 2015, and it was most recently listed for $39.9 million, per the Journal.

Eichner, who founded the Continuum Company, finished the Continuum condo in the early 2000s. 

Before selling it, Eichner had been renting out the penthouse for up to $200,000 per month, the developer told the Journal. 

In May 2019, I got a tour of the Continuum penthouse, which was then the most expensive condo for sale in Miami-Dade County, listed at $48 million.

penthouse miami beach

The final sale price was a roughly 27% discount from its 2019 asking price.

When I visited, the penthouse was listed with Eloy Carmenate and Mick Duchon of Douglas Elliman. Both agents are now at Corcoran and held the listing there, according to the Journal. 

 

During my visit, my first look at the triplex penthouse was the grand entryway.

miami beach penthouse

Source: Douglas Elliman

During my tour, I found that the living room, pictured below, was decorated in neutrals with black and gold accents.

miami beach penthouse

Source: Douglas Elliman

The formal dining room stuck to the white-and-marble theme.

miami beach penthouse

Source: Douglas Elliman

The eat-in kitchen has stainless-steel appliances and marble countertops to match the floors …

miami beach penthouse

Source: Douglas Elliman

… as well as three ovens and a built-in espresso machine.

miami beach penthouse

Source: Douglas Elliman

The penthouse has seven bedrooms, each of which has floor-to-ceiling windows and sweeping views.

miami beach penthouse

Source: Douglas Elliman

This bedroom opens up to a long terrace that connects to the master suite.

miami beach penthouse

Source: Douglas Elliman

In the master suite, wraparound floor-to-ceiling windows fill the room with sunlight and open up to views of the ocean.

penthouse miami beach

Source: Douglas Elliman

A private terrace off the suite overlooks South Beach and downtown Miami.

miami beach penthouse

Source: Douglas Elliman

It also offers views of Fisher Island, the richest ZIP code in the US, where the average income is $2.2 million and the beaches have sand imported from the Bahamas.

fisher island miami

Source: Insider

The master bathroom features marble floors, double vanities, and large mirrors.

penthouse miami beach

Source: Douglas Elliman

A marble soaking tub overlooks the ocean.

miami beach penthouse

Source: Douglas Elliman

The bathroom also has a walk-in double shower and its own small terrace.

miami beach penthouse

Source: Douglas Elliman

And then there’s the penthouse’s main terrace, a massive 6,091-square-foot outdoor space.

miami beach penthouse

Among the home’s other amenities is a screening room.

The penthouse also has a private pool, which sits on the level above the main terrace and overlooks the Atlantic Ocean.

miami beach penthouse

Eichner, who’s based in New York City, told the Journal that he was looking for another vacation home in the Miami area.

Read the original article on Business Insider