Forbes - USA (2019-12-31)

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U).

he two DJs who make up the world’s highest-earning electronic-music act

have spun themselves a pair of new identities: onstage, as a formidable arena-

rock band; off stage, as equally formidable investors.

Moments before igniting a crowd of nearly 12,000 at Nashville’s Bridgestone

Arena in late October, the Chainsmokers—Alex Pall, 34 (above, left), and Drew

Taggart, 29, who was honored as part of the Forbes Under 30 Class of 2017—check off the fi nal

items on their greenroom to-do list. In order: a run-through of the fi rst song’s chorus, a round

of tequila shots (a fi duciary duty, as you’ll see) and a jokey command for Pall’s golden retriever,

loafi ng nearby. “Mooshu!” Pall hollers. “Take care of the house!”

Their 90-minute set is a contrast to the more intimate Las Vegas shows that helped the

pair earn some $46 million (pretax) in 2019. (Those concerts were part of a recently extended

three-year deal with Wynn Nightlife.) They spread the love—the Nashville gig featured fellow

Under 30 alumni Kelsea Ballerini and 5 Seconds of Summer. More shots, too: The Chain-

smokers are the two biggest nonfounding stakeholders in JaJa Tequila, a two-year-old brand

out of New York. It’s one component of a fi nancial strategy through which the duo shun

typical endorsements in favor of investments in Uber, Los Angeles–based motorized-scooter

maker Wheels and a company called Ember, which makes “smart mugs” for coff ee and tea

obsessives. Don’t expect to see one onstage, though. “You want the product to stand up on its

own two feet, and I think long-term,” Taggart says. “That’s what we’re in this for.”

T

Entertainment

SMOKING

SENSATIONS

FOFORBES.CRBES.COOMM DECEMBER 31, 20^19

When New York Times

reporters Kantor and

Twohey broke the

Harvey Weinstein story

in 2017, they opened

the fl oodgates for a

deluge of previously

suppressed stories of

sexual harassment and

the broader #MeToo

movement. She Said

(Penguin Press, 2019)

presents a behind-the-

scenes look at the in-

vestigative journalism

process and the gut-

wrenching bravery of

the women who came

forward. The thing that

struck me most was

how entrenched the

legal and corporate

power structures are

that protect predatory

behavior. Those of us

trying to build enlight-

ened and inclusive

organizations can’t

ignore the systemic

realities we need to

address. She Said is a

must-read for those

who want to change

an unacceptable

status quo.

Emily Weiss

Founder and CEO of

Glossier; Forbes

Under 30 alumna

Book Value

Leaders from the worlds

of business, academia,

entertainment and

politics share what’s on

their bedside table.

SHE SAID

by Jodi Kantor and

Megan Twohey