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Around the World

Messi emerges highest paid Sportsman on earth; here is how

The latest report released by Forbes shows that Lionel Messi of Barcelona claims the top spot with a significant yearly pay of $127 million which covers $92 million salaries and $35 million endorsements.

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Messi emerges highest paid Sportsman on earth; here is how

The battle for the highest paid athlete in the world is such an interesting one, as it cuts across all sporting activities including football, basketball, golf, rugby, tennis and so on.

Over the years, major sports contracts have continued to become more lucrative, thanks to big-money broadcasting deals. As a result, many talented superstars have continued to break the bank.

Lionel Messi 

Nairametrics tracks the ranking of the top ten sporting earners in the world which sums up their salary earnings and their endorsement deals. The latest report released by Forbes shows that Lionel Messi of Barcelona claims the top spot with a significant yearly pay of $127 million which covers $92 million salaries and $35 million endorsements.

Lionel Messi, Highest Paid Athlete in the world

The Argentine and Barcelona forward (31 years) has played 687 matches for his club side since he debuted in 2003, scored 603 goals and won 33 club titles, including 10 La Liga titles and four UEFA Champions League trophy. Lionel Messi has been awarded FIFA’s Player of the year five times, among many other awards, which proves undoubtedly that he is one of the best sportsmen to walk the surface of the earth.

Christiano Ronaldo

Juventus’ Portuguese forward Cristiano Ronaldo celebrates with the cup (Supercoppa) after the Italian Super Cup soccer match between Juventus FC and Milan

The second athlete on the list is Christiano Ronaldo of Juventus with a yearly salary of $65 million and $44 million worth of endorsement, summing up to a yearly earning of $109 million. The Portuguese captain was the top-earning athlete in 2017 as reported by Forbes, but took a wage cut after leaving Real Madrid for Juventus last summer.

Ronaldo has won FIFA’s Player of the year five times equaling Lionel Messi’s record. He is the all-time leading goal scorer in the UEFA Champions League and is the most followed athlete on social media with nearly 400 million followers.

Ronaldo signed a four years deal with Juventus from Real Madrid, which necessitated a wage cut to a yearly salary of $63 million, this apparently costs Ronaldo the number 1 highest-earning athlete in the world.

Neymar

PSG Forward, Neymar Jr.

Neymar Jr. came third on the list. According to the Forbes ranking, Neymar receives a yearly salary/winnings of $75 million and $30 million worth of endorsement, summing up to $105 million. Neymar Jr, popularly known by his nickname ‘Juninho’ is a Brazilian professional football player.

He plays forward for Paris Saint-Germain (French Club) and the Brazilian National team. his transfer from Barcelona to PSG stands as the most expensive in the world at $263 million, which was paid in full by the club ahead of signing. The Skipper is the second most popular athlete behind Christiano Ronaldo, on social media with more than 200 million followers of Facebook, Instagram and Twitter.

Other athletes who made the list in a specific order are:

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  • Canelo Alvarez (#4; $94 million, Boxing)
  • Roger Federer (#5; $93.4 million, Tennis)
  • Russell Wilson (#6; 89.5 million, American football)
  • Aaron Rodgers (#7; $89.3 million, American football)
  • LeBron James (#8; $89 million, Basketball)
  • Stephen Curry (#9; $79.8 million, Basketball)
  • Kevin Durant (#10; $65.4 million, Basketball)

Mayweather and Tiger woods missed out of the top 10: Tiger Woods, the Golfer is believed to be one of the greatest athletes in the world as he has enjoyed sporting fame, downtime, and success over and over again.

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For so many years, Tiger topped the Forbes list of highest sports earners. However, his  net worth declined when his. Ex. wife Nordegren divorced him over a cheating scandal. The incident cost Wood a lot of money and endorsement deals. Fortunately, he was able to come back to win the 2019 Masters Golf tournament.

Woods had not won a major championship since the US Open in 2008 and has struggled for years, undergoing numerous back surgeries until his latest victory. Meanwhile, his last victory only saw him ranked 11th with a total yearly earning $63.9 million.

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Flowd Mayweather: One night is all it took for Floyd Mayweather to exceed their combined total. Money Mayweather came out of retirement, seemingly willed a fight to happen with Conor McGregor via social media, and then produced the biggest single payday in the history of sports, with his cut of the fight worth $275 million.

Mayweather tops Forbes’ annual list of the world’s highest-paid athletes in 2018 for the fourth time in seven years at $285 million, including $10 million from endorsements, appearances and memorabilia. If he had fought this year, Lionel Messi may have missed out the spot as the highest paid athlete in the world.

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Around the World

Covid-19: US economy grappling with 10 million job losses, adds 379,000 jobs in February 

The Covid-19 pandemic has led to the mandatory lockdown of major businesses and factories in the US.

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The World’s biggest economy is grappling with the loss of 10 million jobs due to the Covid-19.

The Covid-19 pandemic led to the mandatory lockdown of major businesses and factories in the country. This meant downsizing for most companies who could not continue paying salaries with no incoming revenue

According to the Nasdaq, the unemployment rate in the United States economy was at its highest in April last year, reaching a record high of 14.7%. The unemployment rate dropped to 6% but that is still a significant number.

According to CNN, the US economy added 379,000 Jobs in February this year. This is a clear sign of the world biggest economy getting back on track. Although the US economy is still missing around 9.5 million jobs since the beginning of Covid-19.

Biggest losers 

According to Nasdaq, the most affected industries in the Covid 19 economic decline is the Hospitality and Outdoor industry. Hotels and restaurant workers were mostly put out of jobs. They also fall into a category regarded as the long-term unemployment category. This category is used to define those who have been without a job for 27 weeks.

Big government to the rescue 

The United States government has rolled out the following packages to cushion the effect of the Covid 19:

  • The Joe Biden Administration has postulated a 1.9 trillion Covid Relief Package for Americans. The Bill made it through a house vote and now needs to pass the senate-house too.
  • Jobless American workers will be entitled to an extra $400 a week.
  • The Joe Biden new relief bill will also contain a $1,400 stimulus check for citizens.

 What to know 

  • The US economy is gradually shifting to the post-Covid-19 era adding 379,000 jobs in February alone. It added a paltry 166,000 jobs in January.
  • The United States major economic rival China is already in the post-Covid-19 era, the only major economic country in the post-Covid-19 era.

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Around the World

Jack Dorsey’s Square set to acquire majority stake in Jay Z’s Tidal for $297 million

Jack Dorsey’s company, Square set to acquire Tidal, the streaming music service owned by Jay-Z for a $297 million deal.

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Square, the mobile payments company owned by Jack Dorsey, announced on Thursday its plan to acquire a “significant majority” of Tidal, the streaming music service owned by Hip-hop music mogul, Jay-Z.

Square said it expects to pay $297 million, in a combination of cash and stock, for a stake in Tidal. Shawn “Jay-Z” Carter will join Square’s board, subject to the closing of the transaction while Tidal will operate independently within Square.

Existing artist shareholders will still remain stakeholders. Other Tidal artist-owners include Beyoncé, Alicia Keys, Coldplay’s Chris Martin, Kanye West, Madonna, Nicki Minaj, and Rihanna.

In a tweet made by Jay-Z today, he highlighted that “from the beginning that TIDAL was about more than just streaming music, and six years later, it has remained a platform that supports artists at every point in their careers. Artists deserve better tools to assist them in their creative journey.”

He also commented that “Jack is one of the greatest minds of our times, and our many discussions about TIDAL’s endless possibilities have made me even more inspired about its future. This shared vision makes me even more excited to join the Square board.

“This partnership will be a game-changer for many. I look forward to all this new chapter has to offer!”

Jack Dorsey, who is CEO of both Square and Twitter, also commented on this deal “comes down to one simple idea: finding new ways for artists to support their work.”

“New ideas are found at intersections, and we believe there’s a compelling one between music and the economy. I knew Tidal was something special as soon as I experienced it, and it will continue to be the best home for music, musicians, and culture.”

Jesse Dorogusker, a Square executive will lead Tidal on an interim basis. He added that Square will offer financial tools to help Tidal’s artists collect revenue and manage their finances. “There are other tools they need to be successful and that we’re going to build for them,”.

What you should know

  • Last month, Jack Dorsey and Jay-Z announced a Bitcoin fund focused on developing the cryptocurrency’s adoption in Africa and India.
  • In 2017, Sprint bought a 33% stake in Tidal. This week, Jay-Z bought back those shares from T-Mobile (which acquired Sprint).
  • Last month, Jay-Z announced that he would sell 50 percent of his champagne company, Armand de Brignac — better known as Ace of Spades — to LVMH Moët Hennessy Louis Vuitton amid a downturn in the entertainment industry caused by the pandemic that has affected some of Jay-Z’s holdings.

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