A combo image shows Cristiano Ronaldo shoving away the Coca-Cola bottles.
Gulf Today Report
Celebrities, specially barons of business, should watch what they say. A classic case is Tesla founder Elon Musk. He has sent the value of cryptocurrency Bitcoin into a tailspin with his tweets.
Last month, Musk sent Bitcoin prices nosediving after announcing Tesla would no longer accept it as payment for its vehicles. The reason: high levels of carbon emissions produced by bitcoin mining.
After that, Musk sent a cryptic tweet that suggested he had broken up with Bitcoin, sending the price of the digital asset down about 5%.
On Sunday, the cryptocurrency’s value surged again, after he tweeted that the electric carmarker would resume allowing Bitcoin transactions when miners who verify transactions use more renewable energy.
Now, comments by another celebrity, this time from the sports arena, have roiled the fortunes of a global brand, incurring a loss of $4 billion in the process.
Famed footy genius Cristiano Ronaldo left the top echelons of the Coca-Cola company red-faced with his remarks on the universal drink at a news conference during Euro 2020.
According to a report, a video showed that after taking his seat during a press conference, the former Real Madrid superstar picked up two bottles of Coca-Cola which were already laid out before him and said “Water. Coca-Cola…”
He shoved the two bottles aside and grabbed a bottle of water, telling people at home which of the drinks was a healthy choice.
But what Ronaldo may not have realised is the huge financial impact he would have on Coca-Cola with those words.
On the face of it, this gesture would seem harmless, but this small move had a huge impact on the brand’s fortunes. Its shares were worth $56.1, but by the time Ronaldo and his Portugal boss Fernando Santos left their seats at the press conference, the shares had dropped to $55.2 each.
The 1.6% drop in share price meant a loss in $4billion in terms of company worth.
Ronaldo may have been trying to make a point on good health by advocating drinking water, but took the fizz out of the image of the much-loved beverage in the bargain.
England and Portugal both scored five goals while France scored three as they overcame lowly-ranked Kosovo, Andorra and Lithuania in Euro 2020 qualifying on Tuesday.
Coach Fernando Santos on Thursday announced his list of 26 players for next month's tournament, when Ronaldo will be supported by the likes of Bruno Fernandes, Bernardo Silva, Diogo Jota and João Félix.
Home advantage at the European Championship may not count for much when Hungary face a Portugal team with scoring talent and one particular player looking to make history. Cristiano Ronaldo needs six more goals to become the all-time leading scorer for
The coronavirus –marred suspended Indian Premier League (IPL) will resume in Dubai from Sept. 19, it was announced by the Board of Control for Cricket in India (BCCI) on Monday.
Half-centuries from Jason Holder and Nicholas Pooran in a 93-run partnership guided the West Indies to a series-levelling four-wicket win the second One-Day International (ODI) of the three-match series against Australia.
The Abes' success gave Japan its third and fourth gold medal of the day after Yuto Horigome took skateboarding's first Olympic title and swimmer Yui Ohashi was the surprise winner of the women's 400m individual competition.