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Why did football legend Cristiano Ronaldo invest in Chrono24? The world’s highest-paid athlete just took a stake in the luxury watch resale platform that’s also backed by LVMH’s Bernard Arnault
STORYBusiness Insider
- An avid watch collector, footballer Cristiano Ronaldo just became an investor in luxury watch resale marketplace Chrono24, which is also backed by billionaire Bernard Arnault’s family fund
- The Al Nassr forward already boasts an impressive portfolio of investments and partnerships including Nike and Binance, and despite a wavering watch market, believes it remains a good investment
According to Forbes, Ronaldo is the world’s highest-paid athlete and has a personal watch collection worth an estimated US$6.5 million.
And now the international football superstar has become an investor in global luxury watch resale marketplace Chrono24, the company’s CEO Tim Stracke has said.
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“He likes the category, likes technology and also thought this was financially a good opportunity,” Stracke explained.
He declined to disclose the amount of the stake, citing an agreement with Ronaldo, but he said it was “significant” for the billion-dollar company, as well as for the athlete-turned-investor.
“The money was not the reason for us to bring him on board,” Stracke added, explaining that Ronaldo’s well-documented love for watches and his tremendous global following put him at the top of his list of potential celebrity investors.
Before Ronaldo, the most recognisable name associated with Chrono24 was Bernard Arnault, whose family fund backs Aglae Ventures, which took part in Chrono24’s US$118 million Series C funding round in 2021.
