Moroccan real estate tycoon Alami Lazraq gains $5.7 million from ADI stake
Lazraq, a Moroccan real estate mogul who founded Alliances Group in 1994, owns 51.7 percent of the group’s publicly traded subsidiary, ADI.
Adidas
Adidas proves it can survive without Kanye West as market cap soars above $35 billion
Adidas’ adept maneuvering following its separation from West has ensured its resilience, with significant gains in share value and market capitalization.
Adidas takes $364-million hit in wake of Kanye West’s Yeezy sneakers resale
The recent downturn came shortly after the German sportswear giant announced the launch of the second sale of West’s Yeezy sneakers.
Kanye West’s Yeezy sneakers return for second sale amid high demand
In May, Adidas announced its decision to sell off the inventory of Yeezy sneakers created in partnership with West.
Adidas rakes in $440 million in sales from Kanye West’s Yeezy sneakers
This marks the first release of the Yeezy sneakers following the termination of Adidas’ collaboration with West in October 2022.
Adidas claims Kanye West squandered $75 million intended for Yeezy collection marketing
Adidas claims that $75 million was transferred to two of Yeezy and West’s bank accounts, but both parties “mishandled virtually all of the marketing funds.”
Egypt’s richest man Nassef Sawiris gains $260 million in 29 days, as Adidas shares surge
The resurgence in Sawiris’ wealth can be primarily attributed to the impressive performance of his holdings in Adidas.
Egypt’s richest man Nassef Sawiris’ Aston Villa stake skyrockets by $13 million in 2023
As of the time of reporting, the market value of Sawiris’ holdings in Aston Villa has reached an impressive $147 million.
Beyonce’s net worth surges past half-a-billion mark despite Adidas partnership fallout
In a display of joint financial prowess, Beyonce and her husband Shawn “Jay-Z” Carter have jointly amassed a fortune of $3.04 billion.
Adidas drops lawsuit freezing $75-million payment to Kanye West’s Yeezy brand
While this marks a victory for West, the dispute is far from over as Adidas and Yeezy will now proceed with private arbitration.
Kanye West faces $2-million lawsuit as Gap takes legal action
Gap’s lawsuit against West and his Yeezy brand focuses on unapproved alterations made to a rental property in Los Angeles.
Adidas share price slump costs Egypt’s richest man $300 million in a single week
Sawiris remains the richest man in Egypt and the Arab world.
Adidas proves it can thrive without Kanye West, set to sell $1 billion worth of Yeezy shoes
Adidas will sell $1 billion worth of Yeezy shoes made with Kanye West.
Kanye West’s exit deals blow to Adidas as Q1 results show $43 million loss
The impact of the fallout with the West-led brand hit sales in the reported quarter by around $441.56 million.
Beyonce challenges IRS in U.S. tax court over $2.7-million tax liability
The move comes after her activewear brand, Ivy Park, severed ties with German sportswear brand, Adidas.
Nassef Sawiris’ wealth surges by $600 million, cementing position as Egypt’s richest
The $600-million bump cements his position as one of Africa’s richest billionaires.
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