Cristiano Ronaldo, the renowned soccer player, has invested in the Portuguese porcelain manufacturer Vista Alegre Atlantis SGPS. This marks another strategic move by Ronaldo to diversify his investment portfolio.
What Happened: Ronaldo has agreed to purchase a 10% stake in Vista Alegre Atlantis SGPS from Grupo Visabeira, Bloomberg reported. This investment is part of a broader plan by Ronaldo to acquire 30% of Vista Alegre Spain through his company, CR7 SA. Additionally, both parties have agreed to establish a 50-50 joint venture in the Middle East and Asia to promote the Vista Alegre brand and Bordallo Pinheiro, named after a 19th-century Portuguese artist renowned for his ceramics designs.
Vista Alegre, founded in 1824, which specializes in porcelain, ceramic items, and crystal glassware, did not disclose the value of Ronaldo’s investment.
Why It Matters: Ronaldo’s investment in Vista Alegre is the latest in a series of business ventures he has undertaken in recent years. In 2022, he joined the Saudi Arabian soccer club Al Nassr for a reported annual salary of around $200 million. Ronaldo, 39, has been strategically investing in various businesses as he prepares for life after his sports career.
The soccer player’s net worth is estimated to be $903 million, according to Forbes and he is classed as one of the world’s highest-paid athletes.
Earlier in 2015, Ronaldo and Portuguese hotel operator Grupo Pestana SGPS SA announced a plan to invest €75 million in four boutique hotels with a total of 400 rooms in Portugal, Spain, and the US. At the time, the footballer said this was his biggest-ever investment as he prepared for life after soccer, according to Bloomberg.
Ronaldo’s investment in Vista Alegre comes on the heels of his recent foray into the world of non-fungible tokens . Despite being embroiled in a legal tangle, Ronaldo launched his fourth NFT collection on Binance in May 2024, paying tribute to his illustrious career.
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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