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<ul class="summary-list"><li>British billionaire David Sullivan has cut the price of his London mansion by about $13 million.</li><li>The businessman, who owns the West Ham United soccer club, said he is taking a loss on the property.</li></ul>British <a target="_blank" class="" href="https://www.businessinsider.com/category/billionaires">billionaire</a> David Sullivan has cut the price of his London mansion to £65 million (about $85 million), knocking about $13 million off of the previous asking price.Sullivan, an owner of the east London-based soccer club West Ham United, told <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-10-03/west-ham-united-owner-cuts-london-mansion-price-by-10-million">Bloomberg</a> that while he would now be selling the property for a loss, "you have to be realistic."<div type="image" title="A living area in the house." height="6191" width="8199" msid="113991316" hostid="261" sizebytes="1760512"></div>"Interest rates are high — they're coming down but not much," Sullivan said."I also think what the government is doing to the non-doms isn't very nice, and a lot of rich people are leaving the country as a result of what they anticipate in the budget. Three or four of my friends already have gone to Monaco or Dubai," he added.<div type="image" title="A meeting/dining room in the house." height="4480" width="6720" msid="113991310" hostid="261" sizebytes="1286418"></div>Sullivan, 75, was referring to planned changes to government policy that would remove certain tax advantages for wealthy UK residents whose permanent home — for tax reasons — is outside the UK.The proposed changes have led to uncertainty in the market, according to real-estate firm Knight Frank, with London's "super-prime market" seeing 22% fewer transactions in the 12 months to July compared to the year prior.And that's not ideal for Sullivan, who told Bloomberg he spent about £75 million (about $98 million) on his Marylebone property — £27 million (about $35 million) to buy the house in 2015 and almost £50 million (roughly $65 million) refurbishing it.<div type="image" title="A wine cellar in the property." height="4480" width="6720" msid="113991305" hostid="261" sizebytes="2075738"></div>According to Knight Frank, the 21,000-square-foot house at 33 Portland Place was built in 1775. It features 10 bedrooms, 10 bathrooms, a swimming pool, a wine cellar, a cinema room, a sauna, and a "sky lounge."One of the property's former owners, Edward Davenport, was convicted of a multimillion-pound fraud in 2011. He was released in 2014 after he was granted clemency on the grounds of ill health, <a target="_blank" class="" href="https://www.theguardian.com/uk-news/2015/may/20/fraudster-edward-davenport-sells-mansion-settle-13m-court-orders">the Guardian</a> reported.<div type="image" title="The house." height="1921" width="2561" msid="113991321" hostid="261" sizebytes="558170"></div>Under Davenport's ownership, the house hosted several famous guests and was famed for holding raucous parties.Supermodel Kate Moss once shot a campaign for Agent Provocateur on the property, while British music icon Amy Winehouse used it as the set for her "Rehab" music video. It was also used to film scenes for the Oscar-winning film "The King's Speech."<div type="image" title="A living area in the house." height="4379" width="6568" msid="113991318" hostid="261" sizebytes="1155658"></div>Davenport's website shows photos of him posing with various celebrities, from Paris Hilton to Daniel Radcliffe. One photo also shows him with Sullivan.Davenport <a target="_blank" class="" href="https://www.theguardian.com/uk-news/2015/may/20/fraudster-edward-davenport-sells-mansion-settle-13m-court-orders">purchased</a> the house from the Sierra Leone High Commission in 1999.<h2 id="61b8db58-ad1f-444e-b375-c69774aff86f">Who is David Sullivan?</h2><div type="image" title="David Sullivan." height="512" width="683" msid="113991308" hostid="261" sizebytes="18814"></div>Sullivan is worth about £1.2 billion (roughly $1.6 billion), according to The Sunday Times Rich List.The 75-year-old first made his money in the adult entertainment industry before moving into media, owning the Daily Sport and Sunday Sport newspapers.Speaking to <a target="_blank" class="" href="https://www.thetimes.com/article/sullivan-proud-of-his-record-as-true-blue-k5l5qw9dph0">The Times of London</a> about his career in 2006, Sullivan said: "I always had a burning desire to be fabulously rich because I came from a fabulously poor background.""I am not embarrassed by what I have done," he added. "I am not one of those people who tells the neighbours I'm in the print business. I'm in the adult entertainment industry and I have met some lovely girls and made a lot of money. I have given an awful lot of people a lot of pleasure and I have never hurt anyone."

British billionaire slashes the price of his London mansion by $13 million, saying the rich are fleeing the UK. See inside the storied property.

<ul class="summary-list"><li>Bernard Arnault has gone from the world's wealthiest person to being on the brink of dropping to fifth.</li><li>The LVMH CEO's net worth has tanked by $54 billion from its March peak, and $30 billion so far this year.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/who-is-bernard-arnault-owner-louis-vuitton-lvmh-net-worth">Bernard Arnault</a> was the richest person on the planet <a target="_blank" class="" href="https://www.businessinsider.com/bernard-arnault-lvmh-worlds-richest-person-overtakes-jeff-bezos-2024-3">six months ago</a>; now he's flirting with fifth place.Arnault is the founder and CEO of LVMH Moët Hennessy Louis Vuitton, the French luxury goods behemoth. In late March, he was worth an estimated $231 billion, ranking him ahead of Tesla CEO <a target="_blank" class="" href="https://www.businessinsider.com/tesla-ceo-elon-musk">Elon Musk</a> and Amazon founder <a target="_blank" class="" href="https://www.businessinsider.com/jeff-bezos-life-career-education">Jeff Bezos</a> at the top of the Bloomberg Billionaires Index.The fashion tycoon's fortune has shrunk by $54 billion since then to $177 billion at Wednesday's close. That places him fourth and only $1 billion ahead of Oracle cofounder <a target="_blank" class="" href="https://www.businessinsider.com/larry-ellison-oracle-wealth-tesla-stock-billionaires-rich-list-ai-2024-9">Larry Ellison</a> in fifth.Arnault's net worth has tanked by $30 billion this year, making him the biggest wealth loser among the 500 individuals on Bloomberg's list. He's also the only person among the 18 richest people who's in the red for 2024; the others have all gained at least $14 billion and as much as <a target="_blank" class="" href="https://www.businessinsider.com/mark-zuckerberg-meta-net-worth-wealth-rich-list-musk-bezos-2024-9">$63 billion</a>.Forbes' wealth rankings tell a similar story: Arnault has gone from first place with a $233 billion net worth on March 8, to fifth with a $175 billion fortune behind Musk, Bezos, Ellison, and Meta CEO <a target="_blank" class="" href="https://www.businessinsider.com/mark-zuckerberg">Mark Zuckerberg</a>.The wealth hit for the "Wolf in Cashmere" reflects a 16% slump in LVMH's stock price to its lowest level in two years. Arnault owns about 48% of the luxury conglomerate, which houses around 75 brands, including Tiffany &amp; Co., Louis Vuitton, Dom Perignon, and Sephora.LVMH shares have been hit by the company's troubles. It struggled in the first half of this year with underlying revenues inching up only 2%, and income from recurring operations sliding 8%. Underlying profits tanked 26% in the Wines &amp; Spirits business, 19% in Watches &amp; Jewelry, and 6% in the key Fashion &amp; Leather Goods segment.Arnault also warned of a "climate of economic and geopolitical uncertainty" in the earnings release. Meanwhile, Bloomberg reported last month that Sephora was slashing its 4,000-strong workforce in China by 10% to weather a <a target="_blank" class="" href="https://www.businessinsider.com/luxury-sales-plummet-china-consumers-cut-back-spending-earnings-kering-2024-7">challenging local market</a>.The luxury industry <a target="_blank" class="" href="https://www.businessinsider.com/luxury-goods-sales-slow-clothes-shoes-china-bain-company-travel-2024-6">boomed</a> after the pandemic as travel resumed and pent-up shopping demand was released. But it has <a target="_blank" class="" href="https://www.businessinsider.com/bernard-arnault-wealth-slumps-lvmh-retail-luxury-boom-falters-rich-2024-7">struggled</a> more recently as historic inflation, steeper interest rates, and recession fears have tempered demand even among wealthy consumers.

LVMH's Bernard Arnault has gone from the world's richest person to flirting with 5th place after a $54 billion wipeout

Global IT services firm <keyword id="6370971" type="General" weightage="20" keywordseo="accenture" source="Orion">Accenture</keyword> on Monday launched a generative <keyword id="11035466" type="General" weightage="100" keywordseo="ai-studio" source="Orion">AI Studio</keyword> in India to accelerate the adoption of data and artificial intelligence (AI). With the studio, part of Accenture’s $3 billion investment in data and AI, the company's team and clients will co-create solutions with a modern data and AI foundation, LLM architecture, ecosystems partnerships, talent and responsible AI frameworks. “Clients understand the massive opportunity that generative AI can bring to optimise and reinvent their business, opening up new avenues for growth. “However, to harness the full potential of their AI investments, they need to be value-led in every business capability they choose to reinvent with generative AI. Our Bengaluru studio will help our clients around the globe prioritise capabilities across the entire value chain,” said <keyword id="16898323" type="General" weightage="80" keywordseo="senthil-ramani" source="Orion">Senthil Ramani</keyword>, Global Lead–Data &amp; AI, Accenture. According to a recent Accenture survey, 74 per cent of the C-suite executives plan to increase their AI-related spending in 2024, up from 50 per cent in the previous year, as companies move from proof of concept to customising foundation models with proprietary data. “Our clients across 19 industries now have the opportunity to understand, experiment, adopt and scale generative AI solutions to reinvent functions and business models to achieve new levels of performance,” said <keyword id="10732499" type="General" weightage="80" keywordseo="mahesh-zurale" source="Orion">Mahesh Zurale</keyword>, Global Lead – Advanced Technology Centers Global Network, Accenture. The studio will tap into the strategic investments made in Accenture’s Center for Advanced AI for clients and will draw upon Accenture’s more than 1,450 pending and issued patents in AI, and learnings from over 300 active generative AI projects. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/doms-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/106023986.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/doms-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/106023986.cms" target="_blank">DOMS IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/stock-market/news/india-shelter-finance-ipo-how-to-check-allotment-status-and-gmp-value/articleshow/106078554.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/india-shelter-finance-ipo-how-to-check-allotment-status-and-gmp-value/articleshow/106078554.cms" target="_blank">India Shelter Finance IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/stock-market/news/nifty-sensex-recover-to-trade-flat-after-opening-in-the-red/articleshow/106078519.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/nifty-sensex-recover-to-trade-flat-after-opening-in-the-red/articleshow/106078519.cms" target="_blank">Nifty, Sensex recover to trade flat after opening in the red</a>

Accenture unveils generative AI studio in India to boost data, AI adoption

<ul class="summary-list"><li>The private tutoring industry is valued at $62 billion. </li><li>Private tutors for ultrawealthy families can earn huge sums.</li></ul>A wealthy family wants to hire a private tutor for their two young children. The position includes a minimum annual salary of $180,000, nine weeks of annual vacation, and accommodation and travel expenses. However, it comes with a demanding list of job responsibilities.The successful candidate must be artistic, provide singing lessons, and play the piano. The tutor also needs to speak Italian, with good French and German, know how to ski, play soccer, do judo, and ride horses, and demonstrate a keen interest in motorsports.The role includes extensive travel in Europe, the Middle East, and the US alongside bodyguards and executive assistants.The UK-based tutoring agency Tutors International, searching for the highly lucrative tutoring role, has been <a target="_blank" class="editor-rtfLink" href="https://tutors-international.com/news/tutors-international-remains-the-dom-perignon-of-tutoring-companies-according-to-updated-review-from-the-good-schools-guide/">described</a> as the "Dom Perignon" of the industry.Adam Caller started the company in 1999, but it wasn't until 2003 that he inked his first "gigantic" contract."In 2001, we thought charging a client £28,000 ($35,000) a year was a lot of money," Caller told Business Insider. "In 2003, I was personally offered a job by a client for £300,000 ($380,000).""I didn't appreciate how valuable our service was to families like that until they told me themselves."Caller described his clients as "ultra-high-net-worth" families. He said 90% of potential clients say "money is no object" when selecting a tutor."They are very exacting," Caller said. "They need to know I'm listening and will deliver on my promises."Jerome Barty-Taylor, the owner of another private tutoring business based in Hong Kong, <a target="_blank" href="https://www.businessinsider.com/private-tutor-hong-kong-richest-elite-families-big-money-secrets-2023-12">previously told BI</a> that "you're expected to be available whenever and wherever your clients want you to be.""When I first started working in Hong Kong, a parent wanted to meet me at an airport lounge to talk about his child over Champagne because we both had flights that evening. For him, it was the most efficient use of time."<div type="image" title="Jerome Barty-Taylor, 35, is the owner of a private education company in Hong Kong." height="3010" width="3783" msid="110421804" hostid="261" sizebytes="1000628"></div><h2 id="6b411a81-d6ba-43a9-b624-940c7dc0a8ad">Tutoring has become a "status symbol"</h2>Current <a target="_blank" href="https://www.fortunebusinessinsights.com/private-tutoring-market-104753">estimates</a> put the global private tuition market at $62.08 billion. It is expected to grow to $132.21 billion by 2032.It is no surprise that hundreds of agencies are seeking a piece of the pie, from everyday sites like MyTutor or SuperProf to elite private agencies that often hire exclusively from pools of ex-private school pupils and Oxford and Cambridge University or Ivy League grads.One instructor who worked for an elite international tutoring agency in various places across Europe told BI that they had stumbled across the agency during their time at Oxford, where, along with Cambridge, the company does the majority of its hiring."I was shocked that they could charge so much for classes," they said, adding that an hour of tuition would set a client back upwards of $150."What was most surprising was that I had no formal training or experience, and yet because I had been to Oxford and spoke with a good English accent, clients would willingly dish out that sort of cash," they said.One tutor who works with some of Dubai's richest families told BI that sometimes, the parents would start a bidding war with one another to secure the service of a favorite tutor."If they knew I would be at one client's house at a time they wanted, they would offer to pay double, triple, or even more to convince me to come to them instead," he said.<div type="image" title="Dubai has a glitzy reputation." height="1272" width="1910" msid="110421805" hostid="261" sizebytes="359424"></div>For the elite, tutoring has become a "status symbol," says Mark Bray, UNESCO Chair Professor in Comparative Education at the University of Hong Kong."There is also a herd effect," Bray told BI. "When everybody else seems to be investing in tutoring, it seems wise to go with the crowd, at least as an insurance policy."Schools may assume that children are receiving tutoring. In this case, parents need to invest in it to avoid being left behind," Bray said.The elites don't just hope that tutors will teach their children. They also hope that a tutor will impart values."For the ultra-rich, education isn't just about books. It's about maintaining values," Barty-Taylor, the Hong Kong-based tutor, said."That's so their children don't fall prey to the curse of 'one generation to make it, and one generation to spend it.'"Caller said he is "unforgiving" when it comes to selecting tutors for his demanding clients, and competition for the exclusive roles is intense.For the position Caller is currently advertising, he has received over 200 applications. He said he will likely interview three or four of these and will put two forward to the client.With the many perks that such tutoring positions come with, it's no surprise."There are such brilliant opportunities to travel! You get to a glimpse into a life of luxury that you wouldn't otherwise have access to. And having accommodation paid for as well meant I was able to save far more than my peers back in London," a tutor, who spent a year working in Russia and Monaco told BI.She said she would regularly tutor children in enormous luxury mansions, was driven around by private drivers in blacked-out cars, and was pestered by the family's nannies, who would endlessly offer her drinks and food."These kids had personal massage therapists and private helicopters. It was insane," she said.The Dubai-based tutor said he had received tips of over $20,000.But Lee Elliot Major, a professor of Social Mobility at the University of Exeter, warned that tutoring could be "education's dark side.""Graduates from elite universities are often making a Faustian pact: serving the wealthy to pay their post‐graduation debts," he said. "Tutoring has become necessary to make ends meet for graduates trying to forge careers in sectors like the creative industries where it is hard to make a living."But many graduates inadvertently remain tutors for far longer than they expect, he said. Glamorous destinations, private jets, inter-family bidding wars, and incomparable salaries make it increasingly appealing.<h2 id="430364af-ca6e-44b6-b0d1-b1c1ee2467f5">Lack of regulation is a growing concern</h2>Tutors International has boomed in recent months."We've seen a 4-500% growth this year," Caller said.Caller believes there is a clear reason for this: "Schools are not preparing children for the future of ultra-high-net-worth families."These ultra-rich parents are worried that "if these kids are going to grow up and take over the family office, then they need to know how to run that company, not how to complete the square."If you've got the resources, you just take them out of the system and organize bespoke tuition for the child," Caller said.But whatever the circumstances, the question remains about whether tutors are qualified.To teach at a state school in Britain, for example, you need an undergraduate degree followed by a full year of training, a three-year teaching degree, or two years of on-the-job training with the Teach First program.To tutor, you just need a client.Major described it as the "Wild West of education.""There is very little regulation or focus on protecting minimum standards," he said. "I always advise parents to think very carefully about the tutors they are paying."Caller also cautioned that lack of regulation was an issue in the industry and that some companies had a tendency to over-promise and under-deliver. He added that he and other industry leaders were currently working to develop the world's first tutoring qualification.The instructor working in Russia and Monaco told BI that one of her pupils had suffered with learning difficulties but that "the child's issues were completely brushed under the carpet, purely to ensure that the tutoring stayed in the hands of the company.""I didn't have the training to teach an individual who was struggling like that," she said, "it was heartbreaking."At the same time, "I liked that I was able to be there for certain kids in a way that they did not have at home," the tutor said."Many of the kids I taught were craving proper attention. You could see after a period of time the kids would almost soften with you and actually enjoy the time together."This tutor also worked for another online agency that catered to more typical lower-middle-class families."These kids really needed the help and were keen to learn," she said."Although the pay was a lot less, seeing how excited the tutees would be when they made a breakthrough with a concept or problem made the job far more rewarding and enjoyable."

Elite tutors can earn $180,000 and travel the world, but are risking a 'Faustian pact' with the superrich

<ul class="summary-list"><li>Bernard Arnault said LVMH sold its private jet after Twitter accounts started tracking it.</li><li>The billionaire said he'd started renting private aircraft for his trips instead.</li></ul>Bernard Arnault, the CEO of LVMH, said on Monday that the luxury-goods company sold its private jet following people's attempts to track the aircraft on social media.The 73-year-old billionaire said he'd started renting private planes instead. He made the announcement an <a href="https://www.radioclassique.fr/economie/journees-particulieres-lvmh-nos-maisons-font-partie-du-patrimoine-francais-quon-le-veuille-ou-non-lance-antoine-arnault/">interview</a> with Radio Classique, which was <a href="https://www.bloomberg.com/news/articles/2022-10-17/bernard-arnault-flies-below-twitter-radar-after-private-jet-sale?sref=LspfQlRv">first reported by Bloomberg</a>. The radio station is owned by LVMH."Indeed, with all these stories, the group had a plane and we sold it," Arnault said, according to a Bloomberg translation. "The result now is that no one can see where I go because I rent planes when I use private planes."Multiple Twitter accounts that track and share publicly available flight data have sprung up over the past year — publicizing the travel activity of people such as Elon Musk and Taylor Swift. Two of the top accounts that track the Louis Vuitton cofounder's flights are <a href="https://twitter.com/i_fly_Bernard">@i_fly_Bernard</a> and <a href="https://mobile.twitter.com/laviondebernard">@laviondebernard</a>. The accounts have a combined following of nearly 100,000 and were both created over the past six months.Arnault appears to have made the switch to renting jets several weeks ago. In September, @laviondebernard tweeted about the billionaire's lack of recent flight data after <a href="https://mobile.twitter.com/laviondebernard/status/1568559316508053504">noting</a> several weeks earlier that LVMH had de-registered its plane in France."Still no word from either Bernard Arnault or LVMH on the subject of private jets," the <a href="https://twitter.com/laviondebernard/status/1568559316508053504?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1568559316508053504%7Ctwgr%5Eee0fefdbeba8638f2f3254dc42dce0e7c593692a%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2022-10-17%2Fbernard-arnault-flies-below-twitter-radar-after-private-jet-sale">account tweeted</a> on September 10, according to a Bloomberg translation of the tweet. "So Bernard, are you hiding?"Arnault is the <a href="https://www.businessinsider.com/who-is-bernard-arnault-lvmh-net-worth-life-career-family#the-73-year-old-french-businessman-is-the-chairman-and-ceo-of-lvmh-mot-hennessy-louis-vuitton-known-as-lvmh-arnault-owns-a-975-stake-in-christian-dior-which-controls-412-of-lvmh-1">second-wealthiest man</a> — surpassing even the Amazon founder Jeff Bezos — with an estimated net worth of $133 billion, according to the <a href="https://www.bloomberg.com/billionaires/profiles/bernard-j-arnault/?sref=LspfQlRv">Bloomberg Billionaires Index's</a> estimate. He is the CEO, cofounder, and chair of LVMH and has amassed a luxury-goods empire that includes major names like Tiffany &amp; Co., TAG Heur, and Dom Pérignon.On Monday, Arnault's son Antoine Arnault defended the company's use of a private jet after his father <a href="https://lameche.net/en/les-nouvelles-du-front/le-bilan-carbone-du-jet-prive-de-bernard-arnault-plus-de-co2-en-un-mois-quun-francais-en-17-ans/">faced criticism</a> from French media outlets over the jet's influence on carbon emissions. The younger Arnault said a private plane gave executives an edge in the race to be first to a new product or deal. "Our industry is hypercompetitive," the son said on a TV show, according to an Insider translation. "We haven't found anything better than a private plane to win that race every day and be just a small step ahead of our competitors."Bernard Arnault is not the only billionaire to come under scrutiny in recent months for private-jet usage. In July, <a href="https://www.insider.com/taylor-swift-private-jet-memes-jokes-response-twitter-tiktok-2022-8">critics slammed</a> Swift after she and her jet <a href="https://www.insider.com/taylor-swift-celebrities-ranked-on-private-jet-co2-emissions-2022-7">topped</a> a list of those causing major carbon emissions. At the time, spokespeople for the music star said the "jet is regularly loaned out to other individuals."Other public figures have expressed safety concerns over the sharing of flight data on social media. Earlier this year, Musk <a href="https://www.businessinsider.com/elon-musk-offered-5k-remove-jet-tracker-twitter-account-report-2022-1">offered</a> $5,000 to the person behind a Twitter account that tracked his travel, asking the Twitter user to shut it down. He failed to get the account shut down."I don't love the idea of being shot by a nutcase," Musk said in a text about the issue, <a href="https://www.protocol.com/elon-musk-flight-tracker">Protocol reported</a>.Meanwhile, the Facebook founder Mark Zuckerberg <a href="https://www.businessinsider.com/elon-musk-jet-tracking-teen-claims-discovered-mark-zuckerberg-plane-2022-5">switched his aircraft</a> after an account started tracking his plane, and the billionaire investor Mark Cuban <a href="https://www.businessinsider.com/teen-tracks-elon-musk-jet-mark-cuban-deal-twitter-account-2022-6">brokered a deal</a> with a man who tracked and shared his flight data by offering him business advice in exchange for deleting the account.Translation by Marianne Guenot.

The world's 2nd-richest man, Louis Vuitton's CEO, sold his private jet after people started tracking it on Twitter: 'No one can see where I go'

Hi, this is Amanda Perelli and welcome back to Insider <keyword id="1112328" type="PERSON" weightage="60" keywordseo="Influencers">Influencers</keyword>, our weekly rundown on the business of influencers, creators, and social-media platforms. <a href="http://newsletter.businessinsider.com/join/influencerdashboard">Sign up for the newsletter here.</a>In this week's edition:<ul><li>The top publicists for influencers <a href="https://www.businessinsider.com/top-pr-pros-and-publicists-for-influencers-youtube-tiktok-instagram-2021-3">on YouTube, TikTok, and Instagram</a><a href="https://www.businessinsider.com/inside-snaps-stunning-comeback-with-revenue-up-62-percent-yoy-2021-3"></a></li><li>How influencers are cashing in on NFTs <a href="https://www.businessinsider.com/how-influencers-are-making-money-on-nfts-while-market-hot-2021-3">while the market is hot</a></li></ul><ul><li>Inside Dunkin's <a href="https://www.businessinsider.com/inside-dunkin-charli-damelio-partnership-influencer-marketing-strategy-2021-3">influencer-marketing and TikTok strategy</a></li><li>How influencers and marketers are <a href="https://www.businessinsider.com/influencers-and-marketers-use-clubhouse-to-make-brand-deals-2021-3">using Clubhouse to strike brand deals</a></li></ul><ul><li>And more including an <a href="https://www.businessinsider.com/vlog-squad-durte-dom-rape-allegation-david-dobrik-zeglaitis-video-2021-3">investigation into a former member of David Dobrik's YouTube Vlog Squad</a></li></ul><h2><a href="https://www.businessinsider.com/top-pr-pros-and-publicists-for-influencers-youtube-tiktok-instagram-2021-3">The top 18 PR pros and publicists for influencers</a></h2>Influencers famous for their work on <keyword id="10879" type="CITY" weightage="60" keywordseo="YouTube">YouTube</keyword>, Instagram, and YouTube are landing late-night TV spots and appearing on the cover of magazines.To make it happen, many hire publicists with experience representing Hollywood actors and musicians.Dan Whateley, Sydney Bradley, and I are recognizing the top PR pros who work with influencers and digital creators.Here are some of the executives highlighted in our second annual power list:<ul><li>Nicole Perez-Krueger, founder of Align Public Relations, represents Charli D'Amelio and her family.</li><li>Cole Chasen Trider, founder and CEO of Chasen Creative <keyword id="6354777" type="COMPANY" weightage="100" keywordseo="Media">Media</keyword>, worked with top YouTube and beauty influencer Jackie Aina on promoting her lifestyle brand FORVR mood.</li><li>Dave Kim, founder and CEO of Dave Kim PR, has secured his clients coverage in the The Wall Street Journal, Forbes Magazine, and Billboard. He represents creators of the influencer collab house Team RAR.</li></ul><a href="https://www.businessinsider.com/top-pr-pros-and-publicists-for-influencers-youtube-tiktok-instagram-2021-3">Check out the full list of top publicists, here</a>.<h2><a href="https://www.businessinsider.com/how-influencers-are-making-money-on-nfts-while-market-hot-2021-3">Influencers are rushing to make money on NFTs using virtual avatars, digital collectibles, and one-off art</a></h2><div type="image" title="Jake Paul as a 3D influencer" height="2249" width="3000" msid="81571543" hostid="261"></div>Some influencers are rushing to cash in on non-fungible tokens (NFTs) as the market heats up.NFT platforms are reporting a spike in sales and for some, the internet trend can bring a big payday.Dan wrote that influencers Logan Paul, Zach "ZHC" Hsieh, and the virtual influencer Miquela have all experimented with NFTs:<ul><li>Creators are hoping that NFTs will offer another way to interact directly with fans and earn money.</li><li>The barriers to entry for creators looking to test out NFTs are relatively low, and some platforms have set up ways to make it easier to get started.</li><li>Jake Paul launched his own virtual avatar on Tuesday and plans to sell digital items like boxing gloves to fans soon.</li></ul>"Of course influencers are showing up, there's a lot of money to be made," said Kayvon Tehranian, the founder and CEO of the NFT auction platform Foundation.Have more information on NFTs? Email Dan: dwhateley@insider.com.<a href="https://www.businessinsider.com/how-influencers-are-making-money-on-nfts-while-market-hot-2021-3">Read more about NFTs, here.</a><h2><a href="https://www.businessinsider.com/inside-dunkin-charli-damelio-partnership-influencer-marketing-strategy-2021-3">Inside Dunkin's influencer-marketing strategy, from hiring Charli D'Amelio to employees posting on TikTok</a></h2><div type="image" title="Charli D'Amelio / Dunkin" height="2994" width="3992" msid="81571549" hostid="261"></div>After Charli D'Amelio gave Dunkin' millions of free video impressions, the brand decided to hire her as an official brand ambassador."What we've noticed is, in order for us to be successful, we really need to tap into what's already happening around our brand," said Melanie Cohn Rabino, the director of brand engagement at Dunkin'.Dunkin' has used social media to help promote products by hiring influencers, employees, and fans to film content for <keyword id="6762469" type="UNKNOWN" weightage="60" keywordseo="TikTok">TikTok</keyword>.I spoke with Dunkin' about the company's TikTok strategy and partnership with D'Amelio:<ul><li>The brand only follows die-hard Dunkin' fans on TikTok, and has turned the act of finding new people to follow into a way to boost engagement, launching contests around it on the app.</li><li>Dunkin' launched a crew-ambassador program as a way to pay its employees to post TikTok videos while on the job.</li><li>It has leaned into hiring micro influencers who specialize in a particular niche, such as food, to help introduce a new product. </li></ul><a href="https://www.businessinsider.com/inside-dunkin-charli-damelio-partnership-influencer-marketing-strategy-2021-3">Read more about the brand's social-media strategy here.</a><h2><a href="https://www.businessinsider.com/influencers-and-marketers-use-clubhouse-to-make-brand-deals-2021-3">How influencers and marketers are using Clubhouse to strike brand deals and make new connections</a></h2><div type="image" title="clubhouse app" height="2000" width="2666" msid="81571556" hostid="261"></div>Influencers are landing brand deals by networking on the audio-only app Clubhouse.Sydney wrote that some "rooms" on the app are connecting industry professionals such as social-media managers, casting agents, and brand executives with influencers.<ul><li>Within these rooms, influencers are pitching themselves to marketers or simply chatting about their careers and interests.</li><li>Then, they move those conversations from Clubhouse to DMs or emails to start talking business. </li><li>Some have used Clubhouse to get hired for campaigns on other platforms, such as Instagram, YouTube, and TikTok. </li></ul><a href="https://www.businessinsider.com/rektglobals-ceo-on-buying-tiktok-agency-talentx-entertainment-2021-3"></a><a href="https://www.businessinsider.com/influencers-and-marketers-use-clubhouse-to-make-brand-deals-2021-3">Read more about how influencers and marketers use Clubhouse, here.</a><h2>More creator industry coverage from Insider:<a href="https://www.businessinsider.com/snapchat-creators-who-have-made-over-1-million-from-spotlight-2021-1"></a></h2>TikTok<ul><li><a href="https://www.businessinsider.com/netflix-and-espn-added-most-tiktok-followers-among-brands-research-2021-3">10 brands that have gained the most TikTok followers in the last year</a> (Dan Whateley)</li><li><a href="https://www.businessinsider.com/tiktok-job-coach-alexa-shoen-became-leading-jobtok-trend-creator-2021-3">How a former Facebook staffer became a leading "JobTok" creator on TikTok</a> (Molly Innes)</li><li><a href="https://www.businessinsider.com/how-much-personal-finance-influencer-tori-dunlap-star-earns-tiktok-2021-3">How much money a personal-finance influencer with 860,000 followers earns on TikTok</a> (Molly Innes)</li></ul>Media kits <ul><li><a href="https://www.businessinsider.com/instagram-influencer-media-kits-3000-to-1-million-followers-2020-12">7 real media kit examples that Instagram influencers use to land brand sponsorships</a> (Dan Whateley, Sydney Bradley, and Amanda Perelli)</li></ul><h2>This week from Insider's digital culture team:</h2><div type="image" title="vlog squad rape accusations david dobrik durte dom 4x3" height="1800" width="2400" msid="81571559" hostid="261"></div><h2><a href="https://www.businessinsider.com/vlog-squad-durte-dom-rape-allegation-david-dobrik-zeglaitis-video-2021-3">A woman featured on YouTube star David Dobrik's channel says she was raped by a Vlog Squad member in 2018 the night they filmed a video about group sex</a></h2>David Dobrik's Vlog Squad is one of the most beloved friend groups on YouTube.Now, an extra in a 2018 vlog says she was too intoxicated to consent to sex with Dominykas Zeglaitis, aka Durte Dom, during the night they were filming for the vlog.The same woman says she was raped and that she believes the video's portrayal of the sex as consensual is inaccurate.<a href="https://www.businessinsider.com/vlog-squad-durte-dom-rape-allegation-david-dobrik-zeglaitis-video-2021-3">Read the full investigation by Insider reporter Kat Tenbarge, here.</a>More on digital culture: <ul><li>On his podcast channel, YouTube creator David Dobrik <a href="https://www.insider.com/david-dobrik-apology-video-vlog-squad-consent-is-super-important-2021-3">addressed for some of his past actions and content</a>.</li><li>People on TikTok are feeding their dogs hot sauce and <a href="https://www.insider.com/tiktok-hot-sauce-trend-dog-dangerous-dogs-vets-pet-owners-2021-3">veterinary experts say the trend is dangerous.</a></li></ul><ul><li>A YouTube prankster said he <a href="https://www.insider.com/jaystation-youtube-channels-banned-threatens-lawsuit-girlfriend-2021-3">plans on suing YouTube for banning his channels.</a></li></ul><div type="image" title="schuyler mckinley squishmalllow collection" height="780" width="1040" msid="81571560" hostid="261"></div><h2>Here's what else we're reading: </h2><ul><li><a href="https://www.adweek.com/media/clubhouse-taps-instagrams-fadia-kader-to-lead-media-partnerships/">Clubhouse hired an Instagram exec to head media partnerships and creators</a> (Scott Nover, from Adweek)</li><li><a href="https://www.nytimes.com/2021/03/16/style/squishmallows.html">Collectible plush toys called Squishmallows are taking over TikTok, Instagram, and Reddit</a> (Taylor Lorenz, from The New York Times)</li><li><a href="https://www.tubefilter.com/2021/03/12/youtube-spring-merch-shelves-digital-downloadable-products/">Now YouTubers can sell digital and downloadable products like ebooks or songs below videos</a> (James Hale, from Tubefilter)</li><li><a href="https://www.theverge.com/2021/3/14/22330281/clubhouse-accelerator-creators-davison-app">Clubhouse will help creators monetize their shows with new accelerator program</a> (Kim Lyons, from The Verge)</li></ul><h2><a href="http://newsletter.businessinsider.com/join/influencerdashboard">Subscribe to the newsletter here</a>. </h2>

The top PR pros for influencers on Instagram, YouTube, and TikTok

Welcome to <keyword id="9884466" type="UNKNOWN" weightage="60" keywordseo="insider-cannabis">Insider Cannabis</keyword>, our weekly <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword> where we're bringing you an inside look at the deals, trends, and personalities driving the multibillion-dollar global <keyword id="14728" type="ENTERTAINMENT" weightage="100" keywordseo="cannabis">cannabis</keyword> boom.<a href="http://newsletter.businessinsider.com/join/cultivated">Sign up here to get it in your inbox every week</a>.We're off tomorrow for the Juneteenth holiday, so you're getting your weekly dose of cannabis industry news on Thursday afternoon.There's a <a href="https://toddharrison.substack.com/p/random-thoughts-all-things-cannabis">rumor</a> <a href="https://twitter.com/BettingBruiser/status/1403405326284693506?s=20">floating</a> <a href="https://twitter.com/JasonGWild/status/1403538551032135680?s=20">around</a> the heavily engaged cannabis Twitter and Reddit-verse that the Toronto Stock Exchange is going to update its rules to allow listed companies to invest in the US cannabis industry. If true, that could be a watershed moment: US cannabis companies like Curaleaf, Trulieve, and Green Thumb Industries, would likely move from the CSE and over-the-counter exchanges to access deeper-pocketed investors plying the TSX.And it's possible that Canadian cannabis companies like Tilray, Canopy Growth, and Cronos Group would decamp from the Nasdaq to the TSX so they could invest in the US.But, a spokesperson for the TMX Group, which owns the TSX, told me, basically, not so fast:"We continue to monitor the evolution of the industry. Our position has not changed with respect to U.S. cannabis law. Nothing more I can add beyond that," TMX Group spokesperson Catherine Kee said in an email.We'll keep monitoring this story. If you have any info to share, please reach out to <a href="mailto:jberke@insider.com">jberke@insider.com</a>. Signal number for encrypted communication available on request. Last, it's great to see so many pitches in my inbox of cannabis companies putting their money where their mouth is ahead of the Juneteenth holiday, in terms of backing organizations, nonprofits, and companies dedicated to advancing social justice goals in cannabis. More of that, please. - Jeremy Berke (<a href="https://twitter.com/jfberke">@jfberke</a>) If you like what you read, share this newsletter with your colleagues, friends, boss, spouse, strangers on the internet, or whomever else would like a weekly dose of cannabis news. Here's what we wrote about this week:<h3><a href="https://www.businessinsider.com/weedmaps-stock-starts-trading-ceo-interview-not-afraid-of-amazon-2021-6">The CEO of $3 billion cannabis-tech company Weedmaps explains why he's not afraid of Amazon</a></h3>The CEO of Weedmaps is ready to take on Amazon - if the tech and retail giant wants to get into cannabis. Amazon recently <a href="https://www.businessinsider.com/amazon-says-its-actively-supporting-federal-marijuana-legalization-2021-6">said it supports federal cannabis legalization</a>. Some industry experts say it's only a matter of time before tech giants start to compete with incumbents like Weedmaps."What we've seen traditionally is the Googles, the Amazons, the others of the world have had difficulty dealing with areas where there are really complex products," Weedmaps CEO Chris Beals <a href="https://www.businessinsider.com/weedmaps-stock-starts-trading-ceo-interview-not-afraid-of-amazon-2021-6">told me in an interview</a>. "I watch and observe, but I don't really worry about those companies coming in because what we do is incredibly complex." <h3><a href="https://www.businessinsider.com/exclusive-trait-biosciences-closes-25-million-series-a-round-2021-6">A cannabis-chemistry upstart just raised $25 million for a new approach to one of the hottest parts of the industry</a></h3>Cannabis beverages <a href="https://www.insider.com/cannabis-seltzer-spirits-get-you-high-quicker-than-weed-edibles-2021-6">are a hot topic in the industry</a>, and a bevy of startups are working on technology to make it easier to infuse chemicals like THC and CBD into drinks. One of those startups, Trait Biosciences, on Wednesday closed a CA$31 million ($25 million) Series A funding round led by Btomorrow Ventures and Gotham Green Partners, the company told Insider. Btomorrow is the VC arm of British American Tobacco, which <a href="https://markets.businessinsider.com/news/stocks/organigram-stock-price-british-american-tobacco-invests-177-million-2021-3-1030173969">invested in</a> a Canadian cannabis producer in March.<h3><a href="https://www.businessinsider.com/cannabis-amc-meme-stocks-retail-investors-shareholders-proxy-voting-2021-6">Meme stock shareholders may have diamond hands, but they're not voting on things like exec pay and M&amp;A deals. And that's creating a big headache.</a></h3>Companies with large retail-investor bases face difficulties reaching a quorum in shareholder votes. "It's hard to get those shareholders to show up and vote," Tilray CEO Irwin Simon told me. "You know, nobody has home phones anymore. No one answers their cellphone to an unknown number. When you mail a proxy to someone's house or apartment, it goes in the garbage."The issue has led to the launch of several startups looking to redefine how public companies interact with their shareholders.<h3><a href="https://www.businessinsider.com/herve-3-million-pitch-deck-for-luxury-cannabis-infused-edibles-2021-6">We got an exclusive look at the pitch deck luxury-edibles startup Hervé used to raise $3 million in a bid to become the 'Dom Perignon' of cannabis</a></h3>Cannabis-infused edibles <a href="https://www.businessinsider.com/cannabis">are having a moment</a>. Edibles sales grew by more than 60% across seven state markets in 2020, according to data provider Headset.To capitalize on that trend, Hervé, a Toronto-based maker of what CEO and founder Sebastien Centner calls "luxury" infused edibles, closed a $3 million Series A funding round in May. Take an exclusive look at the deck Centner used to close the round. <h3><a href="https://www.businessinsider.com/decriminalize-all-drugs-cannabis-heroin-cocaine-2021-6">2 Democrats are pushing for decriminalizing possession of all drugs, including cocaine, heroin, and meth</a></h3>Two House Democrats have for the first time unveiled legislation that would decriminalize possession of all drugs including heroin, cannabis, cocaine, and LSD, and ensure that past drug use wouldn't get in the way of jobs or voting prospects.Democratic Reps. Bonnie Watson Coleman of New Jersey and Cori Bush of Missouri introduced the legislation, the <a href="https://drugpolicy.org/sites/default/files/dpra_summary_2021.06.11_v2.pdf">Drug Policy Reform Act</a>, on Tuesday.<h3><a href="https://www.businessinsider.com/cannabis-company-cronos-pharmacann-110-million-deal-new-york-2021-6">Canadian cannabis giant Cronos is making moves to enter the US. Its $110 million deal with PharmaCann would give Cronos access to New York's $7 billion market.</a></h3>New York is shaping up to be the next hot spot for cannabis M&amp;A. Canadian cannabis giant Cronos recently struck a deal with private US company PharmaCann. PharmaCann is one of the few cannabis companies operating in New York.<h3><a href="https://www.businessinsider.com/cannabis-delivery-services-new-york-market-what-to-know-2021-6">The potential for cannabis delivery in New York as the market comes online - and where to keep an eye out</a></h3>New York is expected to see substantial sales when its cannabis market eventually comes online. A huge part of that growth could be delivery, but regulations still need to take shape.Experts warn activity will be mainly in urban centers and rely on fast, quality delivery service.<div type="image" title="marijuana cannabis" height="2334" width="3500" msid="83620222" hostid="261"></div><h2>Executive moves</h2><ul><li>Cannabis software firm TruTrace <a href="https://www.businesswire.com/news/home/20210616005129/en/TruTrace-Technologies-Names-Robert-Lelovic-as-Chief-Financial-Officer">has a new CFO</a>: Robert Lelovic.</li><li>Travis Goad is joining cannabis real estate fund Pelorus Equity Group as managing director.</li></ul><h2>Deals, launches, and IPOs</h2><ul><li>Cronos Group <a href="https://www.globenewswire.com/news-release/2021/06/14/2246438/0/en/Cronos-Group-Announces-Strategic-Investment-in-PharmaCann-a-Leading-U-S-Cannabis-Company.html">is paying</a> $110 million for an option to buy a 10.5% stake in US cannabis company PharmaCann. The option can be exercised only when a change in cannabis' federal status in the US makes the deal permissible, <a href="https://www.businessinsider.com/canopy-growth-acreage-holdings-deal-could-spur-cannabis-ma-boom-2019-4">similar to Canopy Growth's Acreage deal</a>. </li><li>Berlin-based CBD and medical cannabis startup Sanity Group <a href="https://techcrunch.com/2021/06/16/cannabis-and-digital-health-start-up-sanity-group-closes-44-2m-series-a-led-by-redalpine/">closed a $44 million Series A funding round</a>, led by Swiss venture fund Redalpine, and including Navy Capital and SOJE Capital, among other investors. We got an <a href="https://www.businessinsider.com/european-cannabis-startup-sanity-group-29-million-pitch-deck-2021-1">exclusive look at Sanity Group's seed deck in January</a>.</li><li>US cannabis company Columbia Care is expanding in Colorado, <a href="https://www.businesswire.com/news/home/20210615006157/en/Columbia-Care-Signs-Definitive-Agreement-to-Acquire-Medicine-Man-a-Rapidly-Growing-Vertically-Integrated-Operator-in-the-Denver-Metro-Area">acquiring Medicine Man Denver</a>, which has four retail locations, for $42 million in cash and stock. </li><li>Cannabis tech company LeafLink raised $40 million from investors Nosara Capital, L2 Ventures, Founders Fund, Thrive Capital, and others. LeafLink said the new funding doubles its valuation, without providing a figure.</li><li>Brains Bioeceutical Corp., a maker of EU-GMP certified CBD, <a href="https://www.newswire.ca/news-releases/brains-bioceutical-corp-completes-a-usd-31-9-million-capital-raise-with-lead-investor-dsm-venturing-895462314.html">closed a $32 million funding round led by the venture arm of Royal DSM</a>, one of the world's largest nutrition and ingredients manufacturers. </li><li>US cannabis company <a href="https://www.globenewswire.com/en/news-release/2021/06/14/2246626/0/en/Acreage-Holdings-Announces-Sale-of-Notes.html">Acreage Holdings sold $28 million</a> in promissory notes. </li><li>Cannabis producer Flora Growth is <a href="https://www.globenewswire.com/news-release/2021/06/14/2246437/0/en/Flora-Growth-to-Acquire-Koch-Gsell-and-Enter-Europe-with-Leading-Manufacturer-of-Natural-Swiss-Hemp-Products.html">acquiring Swiss company Koch &amp; Gsell</a>, which makes hemp and blended hemp and tobacco cigarettes under the Heimat brand, in a $22 million cash and stock deal.</li><li>Jay-Z and TPCO's $10 million social equity fund has <a href="https://www.prnewswire.com/news-releases/the-parent-company-announces-the-peakz-company-as-second-social-equity-investment-301313481.html">made an investment in The Peakz Company</a>, an Oakland-based cannabis brand. </li><li>Cannabis compliance and software firm <a href="https://www.simplifya.com/">Simplifya closed a $6 billion Series B funding round</a>, led by Blue Zone Wealth Advisors, with participation from previous investors including Merida Capital and Mercury Payment Solutions Founder Jeff Katz. </li></ul><div type="image" title="cannabis" height="1333" width="2000" msid="83620228" hostid="261"></div><h2>Policy moves</h2><ul><li>Democratic Reps. Bonnie Watson Coleman of New Jersey and Cori Bush of Missouri <a href="https://www.businessinsider.com/decriminalize-all-drugs-cannabis-heroin-cocaine-2021-6">introduced legislation</a> that would decriminalize possession of all drugs including heroin, cannabis, cocaine, and LSD.</li><li>A <keyword id="40905" type="PERSON" weightage="60" keywordseo="Marijuana">marijuana</keyword> legalization bill is <a href="https://www.marijuanamoment.net/connecticut-marijuana-legalization-bill-heads-to-governors-desk/">heading to Connecticut Gov. Ned Lamont's desk</a> on Thursday after both the state House and Senate passed the bill. Lamont is supportive of the bill, and if he signs it, marijuana will be legal in Connecticut as soon as July 1, with recreational sales to begin in May 2022. </li><li>Louisiana Gov. John Bel Edwards <a href="https://www.theadvertiser.com/story/news/local/2021/06/15/louisiana-marijuana-decriminalization-bill-becomes-law/7702747002/">signed a marijuana decriminalization bill</a> into law on Tuesday. </li></ul><h2>Chart of the week</h2>Like their recreational counterparts, medical cannabis consumers still prefer smoking regular old weed over edibles, beverages, tinctures, and vaporizers, according to New Frontier Data:<div type="image" title="Chart of preferred cannabis products among medical consumers with smokeable cannabis as the top product followed by edibles, pills, vaporizers, and concentrate (respectively)" height="1040" width="1240" msid="83620231" hostid="261"></div><h2>What we're reading</h2><a href="https://theintercept.com/2021/06/06/cannabis-legalization-rhode-island-weed/">Rhode Island Coalition Pushes Most Equitable Legal Cannabis Regulations Yet</a> (The Intercept)<a href="https://www.townandcountrymag.com/society/money-and-power/a36700958/abby-rockefeller-hemp-cannabis-farm-hudson-valley/">Ms. Rockefeller's Cannabis Farm</a> (Town &amp; Country)<a href="https://www.bloomberg.com/news/articles/2021-06-14/pro-athletes-cbd-use-coming-under-scrutiny-cannabis-weekly">Pro Athletes' CBD Use Is Coming Under Scrutiny</a> (Bloomberg)<a href="https://apnews.com/article/washington-lifestyle-coronavirus-pandemic-business-government-and-politics-5b24a89f691f1760a4b16576ed22cb27">Washington's 'joints for jabs' vaccine program falling flat</a> (Associated Press)<a href="https://www.tmz.com/2021/06/15/joe-exotic-launching-own-cannabis-line-products-prison/">JOE EXOTIC LAUNCHING HIS OWN CANNABIS LINE ... Straight from the Joint!!!</a> (TMZ)

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