In a series of social-media posts, the eldest child of David and Victoria Beckham threw stones at the image of a ‘perfect family’.
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David Beckham was at the World Economic Forum in Davos, Switzerland, on Tuesday with Bank of America chief executive Brian Moynihan to promote their new partnership. But all anyone wanted to talk about was his son.
After the obligatory questions about business and the World Cup, a host on CNBC’s “Squawk Box” lobbed Beckham an out-of-left-field query about how young people can preserve their mental health in the age of social media.
“Children are allowed to make mistakes,” Beckham, 50, said. “That’s how they learn. So, that’s what I try to teach my kids, but you have to sometimes let them make those mistakes as well.”
Just a day earlier, his 26-year-old son Brooklyn Beckham had posted a series of accusations about his soccer-famous father and pop-star-turned-fashion-designer mother, Victoria Beckham.
He said that his parents had controlled him for years, lied about him to the press and sought to damage his relationship with his wife, Nicola Peltz Beckham. Their goal, he said, was to affect the image of a “perfect family.”
“My family values public promotion and endorsements above all else,” he wrote on Instagram. “Brand Beckham comes first.”
That brand has been burnished over decades of professional triumphs, tabloid scandals and slick dealmaking.
Recently, both David and Victoria Beckham put their legacies on-screen in docuseries that cast them as hardworking entrepreneurs and devoted parents. Their image appeared stronger than ever. Now their firstborn child is throwing stones.
Representatives for David Beckham, Victoria Beckham and Brooklyn Beckham did not respond to requests for comment. A representative for Nicola Peltz Beckham declined to comment.
In the U.K., the Beckhams are as close as you can get to royalty without sharing Windsor DNA. David is perhaps the most famous English player in soccer history, while Victoria parlayed her Spice Girls fame into a career as a respected fashion designer.
Their partnership was forged in the cauldron of 1990s celebrity gossip, with their every move—in their careers, their bumpy personal lives and their adventurous senses of personal style—subject to tabloid scrutiny.
“They were Taylor Swift and Travis Kelce before Taylor Swift and Travis Kelce,” said Elaine Lui, founder of the website Lainey Gossip.
Over time, the couple became savvy managers of their own brand, a sprawling modern empire including a professional soccer team, fashion and beauty lines, investment deals and commercial partnerships.
In recent years they each released a Netflix docuseries—“Beckham” in 2023, “Victoria Beckham” in 2025—featuring scenes from their private family life. (Brooklyn and Nicola appeared in David’s series, but not Victoria’s.)
“The way they’ve performed their celebrity has been togetherness,” Lui said: Appearing and engaging with the world as a happily married couple, in both relative calm and amid scandal. And as their family grew, their four children became smiling ambassadors for Brand Beckham, too.
Until Monday night. In a series of Instagram Story posts, Brooklyn accused his parents of “trying endlessly to ruin” his marriage to Nicola, an actress and model, and the daughter of billionaire investor Nelson Peltz . Brooklyn declared, “I do not want to reconcile with my family.”
Where Victoria and David seemed to see press scrutiny as part of the job, Brooklyn and Nicola are operating in a manner more typical of their own generation. Brooklyn’s posts call to mind the “no contact” boundaries some children have enforced with their parents in recent years to much pop-psych chatter.
Andrew Friedman, managing director of crisis communications at Orchestra, said he’d advised many clients through family drama. “Going public,” he said, should be a “last resort.”
He’s also warned clients that using social media to air grievances opens a can of worms. “Nuance is not welcome in social-media feeding frenzies,” Friedman said. “Sensational and unusual details will overshadow the central issue.”
Brooklyn, the eldest of the Beckhams’ four children, has built a following in his parents’ image, though without the benefit (or burden) of a steady career.
He’s worked as a model, photographer, cooking-show host and most recently founded a hot-sauce brand. Brooklyn and Nicola went public with their relationship in 2020 and married in a lavish 2022 ceremony at her family estate in Palm Beach, Fla.
Rumors of a family feud flared almost immediately after the wedding, including whispers about the fact that Nicola didn’t wear a dress made by her fashion-designer mother-in-law.
Brooklyn on Monday recounted further grievances related to a mother-son dance and the seating chart. In the months and years that followed, celebrity journalists and fans closely tracked both generations of the family, looking for cracks in the relationship.
But official dispatches from Beckham World suggested that things were just fine. In a scene from the final episode of David’s Netflix series, the Beckham family, including Brooklyn and Nicola, joke around on a visit to their country home. It’s a picture of familial bliss.
“We’ve tried to give our children the most normal upbringing as possible. But you’ve got a dad that was England captain and a mom that was Posh Spice,” David says in voice-over.
“And they could be little s—s. And they’re not. And that’s why I say I’m so proud of my children, and I’m so in awe of my children, the way they’ve turned out.”
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SHEIN’s Hong Kong IPO wiped a $4.4 billion obligation from its books, but the fast-fashion giant still faces a payout of up to $3.5 billion to early investors.
3 min
Companies typically go public to raise money to supercharge growth. Fast-fashion giant Shein has another motivation.
The company’s initial public offering in Hong Kong this week is allowing it to avoid paying out billions to early investors.
If Shein hadn’t sold shares by the end of the year, the company would have been required to fork out nearly $4.4 billion in cash to holders of its convertible redeemable preferred shares. With the IPO, the $17.3 billion in preferred shares was converted to ordinary equity, and that obligation was wiped off the books.
But Shein was still on the hook for another payment. Holders of those preferred shares were entitled to a payout of billions more, in part because the company’s valuation has fallen from its peak. That payout came to nearly $3.5 billion in cash, according to regulatory filings.
The retailer on Monday priced its shares at 48.56 Hong Kong dollars each, equivalent to about $6.20 and near the middle of the range of HK$47.60 and HK$49.50 it provided last week.
The company pressed ahead with its IPO despite slowing growth and regulatory headwinds in the U.S. and European Union. Shein priced its IPO at a valuation of around $26 billion, roughly a quarter of the $98.2 billion valuation it achieved in a funding round in 2022.
Shein started selling its wares in the U.S. around 2012 and shot to popularity during the pandemic when more people shopped online. Its supply-chain prowess and vast range of styles at affordable prices made the brand a favorite among many U.S. consumers. It showed other retailers, including Amazon.com, that consumers were willing to wait more than a week for their online purchases to be delivered—if the price was right. But rivals soon emerged, such as Temu, which sells more products apart from apparel.
Shein’s business model of selling massive amounts of cheap goods lost some of its shine as more countries started imposing tariffs on small packages. The U.S. removed a trade exemption that allowed packages valued at or below $800 to enter the country duty-free, and the EU has introduced a €3 (about $3.50) customs duty on imports of low-value parcels.
Shein has worked toward its IPO for years, and the looming $4.4 billion obligation wasn’t the only reason it went public. But the threat of the big payout on Dec. 31 was certainly a part of its reason to press ahead, said Jianggan Li, founder and chief executive of Momentum Works, a research advisory firm based in Singapore.
“Complete the listing before then,” said Li, “and a very large liability comes off the balance sheet.”
While that liability will now be off its books with a successful IPO, Shein said it was saddled with another bill: the roughly $3.5 billion it owed its early investors upon going public.
That amount includes $1.3 billion that Shein had to pay several late-stage pre-IPO investors who had been guaranteed a cash payout at an 8% or 12% annual return, and up to $2.2 billion in compensation for the fall in the company’s valuation in the period after they made their investments. The $2.2 billion was a projection based on the lower end of the offer price range, or HK$47.60 per share, so the total bill will likely be smaller than $3.5 billion. The exact amount has yet to be disclosed by the company.
Notably, the amount it owes investors is more than the roughly $1.7 billion the company raised in the IPO. The company said it was paying the funds to its investors out of cash it has on hand.
The investors entitled to the payments include entities linked to HSG, formerly known as Sequoia China, Boyu Capital, Tiger Global, General Atlantic, Thrive Capital and others.
“What the IPO really does here is resolve the capital-structure overhang,” Li said. “It gives investors liquidity, terminates those preferred-share rights and cleans up obligations created when Shein raised money at much higher valuations.”
Shein could have kicked the can down the road by renegotiating terms with its investors, he said: “Shein is not taking the cheapest way out of its old financing obligations. It is taking the cleaner way out.”
