Daily Brief: Newsom’s State of the State Address, L.A. City Council Condemns Russia’s Invasion of Ukraine

Also, co-creators Mindy Kaling and Lang Fisher announced on Tuesday that their teen comedy series, ’Never Have I Ever,’ will end with its fourth season

» Facing Reelection, Newsom Delivers State of the State Address Speaking from a 21-story glass tower to an audience of more than 100 people, Gov. Gavin Newsom on Tuesday delivered his annual State of the State speech. Although, he didn’t talk much about his vision for the final year of his term, he spoke about the state’s climate change policies, COVID response, and California’s prospering economy. [Los Angeles Times]

» Starbucks, Coke, Pepsi, McDonald’s Temporarily Shut Down in Russia The companies all announced Tuesday that they are suspending business operations in Russia in response to the country’s invasion of Ukraine. [The Associated Press]

» More Pain at the Gas Pump is Forthcoming, Analysts Say Motorists were already paying an average of $4.50 a gallon nationally before President Joe Biden’s announcement on Tuesday that the U.S. would halt purchases of Russian oil. If crude oil prices continue to rise, analysts say Californians could be charged as high as $7 per gallon in the near future. [Los Angeles Times]

» ‘Never Have I Ever’ to End with Fourth Season on Netflix Co-creators Mindy Kaling and Lang Fisher announced Tuesday that the third season of the teenage comedy series will begin streaming on Netflix this summer, followed by a fourth and final season that they’re “absolutely thrilled about.” [Los Angeles Times]

» L.A. City Council Unanimously Approves Measure Condemning Russia’s Invasion of Ukraine The resolution, which was led by Councilman Paul Koretz and introduced by five council members, also calls for international and federal divestment of all holdings from, and investments in, Russia. [City News Service]



Richard Saghian attends Fashion Nova x Cardi B Collection launch party at Hollywood Palladium on May 08, 2019 in Los Angeles, California. (Photo by Allen Berezovsky/FilmMagic)

Fashion Nova Owner Is Buyer of Mega Mansion ‘The One’

Beverly Hills mansion The One—which refers to the one percent that can afford to occupy it—was sold at a bankruptcy auction for $126 million to an anonymous buyer. The One, which boasts 21 bedrooms, 42 bathrooms was originally listed for $295 million. But according to the Los Angeles Times the new owner of the 100,000 square foot marble-and-glass property (that still lacks an occupancy certificate) is Richard Saghian, owner and CEO of major fast-fashion online women’s store Fashion Nova.

So where did 40-year-old Saghian get the scratch to add the biggest house in Los Angeles to the two other homes he already owns? Well, that’s easy its because of Fashion Nova. The brand he founded is exceedingly popular amongst young women. Its recipe for success: Using celebrities and Insta-Influencers to promote its cheaply priced, on-trend clothes. Past names include rapper Cardi B, Lil Nas X, and model Kylie Jenner. The company is privately held and owned by Saghian, who he is also the CEO, and its annual sales exceed a reported $1 billion.


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