Posts tagged with "Rihanna"

Twitter CEO Jack Dorsey chips in 28% of his personal wealth, $1B, to COVID-19 relief fund

April 9, 2020

“I hope this inspires others to do something similar,” Jack Dorsey, chief executive of Twitter and Square, said on Tuesday, April 7, of his plans to donate $1 billion—or just under one-third of his total wealth, to relief programs for the novel coronavirus, The New York Times reported.

Dorsey said he would put 28% of his fortune, in the form of shares in his mobile payments company Square, into a limited liability company that he had created, called Start Small. The new company would make grants to beneficiaries, he said, with the expenditures to be recorded in a publicly accessible Google document.

“Why now? The needs are increasingly urgent, and I want to see the impact in my lifetime,” Mr. Dorsey said—fittingly enough, in a series of tweets announcing his plans.

“ After we disarm this pandemic,” he tweeted, “the focus will shift to girl’s health and education, and UBI [universal basic income]. It will operate transparently, all flows tracked here: https://docs.google.com/spreadsheets/d/1-eGxq2mMoEGwgSpNVL5j2sa6ToojZUZ-Zun8h2oBAR4 …

According to the Times, Dorsey, 43, joins a growing list of celebrities, world leaders, and techies who are earmarking some portion of their wealth to fighting the spread of the coronavirus and its effects.

Oprah Winfrey has donated more than $10 million of her personal wealth to COVID-19 relief efforts, while other Hollywood personalities — including Justin Timberlake, Dolly Parton, and Rihanna — have also made contributions. Last week, the Amazon chief executive, Jeff Bezos, said he would donate $100 million to American food banks through a nonprofit, Feeding America. And Mark Zuckerberg, chief executive of Facebook, also has organized relief campaigns through Facebook and his own philanthropic organization with his wife Priscilla Chan, the Chan Zuckerberg Initiative.

Even so, the Times notes, Dorsey’s contribution stands out for the sum he is putting in and for how much of his net worth that represents.

He said the first $100,000 donation would be to America’s Food Fund, a high-profile effort committed to feeding the hungry. It was started in a GoFundMe page last week collectively by Leonardo DiCaprio, Laurene Powell Jobs, and Apple. To date, $13.4 million has been raised toward the goal of $15 million, contributed by 7,500 donors.

“Life is too short, so let’s do everything we can today to help people now,” Dorsey tweeted, followed by an emoji of a peace sign hand gesture.

Square declined a request for an interview with Dorsey. Twitter declined to comment.

Research contact: @nytimes

NutriDrip to offer aging and hangover IV infusions at Wynn Hotels and Equinox

January 16, 2020

At Clean Market, New Yorkers have a wide menu of healthy offerings to choose from, such as “superfood smoothies” and bowls. Also available à la carte: vitamins delivered intravenously at the NutriDrip bar, CNBC reports.

They are not cheap, but the 30-minute IV infusions—administered by medical professionals—are growing in popularity.

And lately, CNBC says, they’ve been attracting new business partners, too, from the Wynn Hotel, which plans to start offering NutriDrip in Las Vegas early this year; to fitness and lifestyle company Equinox. Indeed, Equinox executives Jeffrey Weinhaus and Harvey Spevak were early investors in NutriDrip.

NutriDrip sells 15 vitamin infusions. The classic Nutribody drip aims to support fat loss with a combination of l-carnitine, taurine, vitamin C, and B complex, among others.

There also are popular hangover remedies—Basic Recover, Super Recovery, and Mega Recovery— which range in price from $119 to $199, depending on how much you’re hurting from the night before.

What’s more, the Nutriyouth drip claims the ability to “help stop cellular aging in its tracks” with a mixture of anti-aging enzymes, molecules and vitamins for $599.

Founded five years ago, NutriDrip is looking to expand in 2020 with a Series A funding round in the first half of this year. Executives declined to say how much money they’re looking to raise.

“Over the last three years, IV nutrient therapy, specifically NutriDrip, has grown, at like a 60% to 80% year-over-year growth rate, even while opening new stores,” co-founder Asa Kitfield told the cable business news channel. “So we’re really excited to see what sort of saturation the market can see on like a local and national basis.”

“As many of our guests now expect a more holistic set of wellness options, we have evolved to include broader wellness themes related to functional wellness, physical fitness, and healthy cuisine,” a Wynn Hotel spokesperson told CNBC; adding “providing IV therapy is one more way to help our guests maintain personal wellness routines while they are traveling.”

Celebrities, including Madonna, Rihanna and Simon Cowell, are reportedly fans of IV vitamin treatments, but it’s drawn some controversy.

“Anytime you poke a hole in somebody’s vein, there is some risk that they’ll bleed excessively. There’s also some risk that they will clot excessively,” Dr. David Katz, founding director of Yale University’s Prevention Research Center told CNBC. “So the risks are not great. And the risks are not very common, but there are risks, and the only way to justify any risk in medicine is by a greater likely benefit.”

The doctor said there is “minimal evidence that there is any meaningful benefit for most people.”

On the other hand, Kitfield said NutriDrip doesn’t make grand promises about its treatments—but the company and customers clearly believe in its benefits.

“When you look at our business, where 50% to 60% of our revenue comes from regulars, and that’s why we continue to grow, the proof is kind of in the pudding,”Kitfield said.

According to the Global Wellness Institute—a nonprofit that tracks the $4.5 trillion industry—while IV therapy and alternative medicine is a small portion of the overall spending, it’s among the fastest-growing sectors.

Research contact: @CNBC