FYI | Nov 05 2007
By Greg Peel
That’s it – it’s all over for the US dollar. Middle Eastern oil producers might be shying away from it, Chinese central bank officials may be trying not to buy it, analysts across the globe may be predicting further weakness but the final nail in the coffin for the greenback may have come from a Bloomberg news report this morning.
Gisele Bundchen, currently the world’s highest paid supermodel, is refusing payment in US dollars.
Bloomberg reports when Bundchen, 27, signed a contract in August to represent Pantene hair products for Cincinnati-based Procter & Gamble, she demanded payment in euros, according to Veja, Brazil’s biggest weekly magazine. She’ll also receive euros for the deal she reached last October with Dolce & Gabbana in Milan to promote the Italian designer’s new fragrance, The One. Bundchen earned US$33 million in the year through June, according to Forbes magazine.
“Contracts starting now are more attractive in euros because we don’t know what will happen to the dollar,” Patricia Bundchen, the model’s twin sister and manager in Brazil, said in a telephone interview in September from Sao Paulo. She declined to discuss details of the arrangements last week, as did Anne Nelson, Bundchen’s agent in New York at IMG Models.
Gisele has a twin sister?