— CNN (@CNN) December 10, 2017
Famous movie stars and music artists may make a fair amount of money from taking the leap and pursuing their chosen careers but, over time, it often emerges that they have talents that lie beyond their work in the spotlight.
Many have specifically proven to be a big success in the world of business, with key investments or decisions going on to prove hugely lucrative. If you’re seeking some inspiration on making a new investment or beginning a new venture, here are just a few examples of when big names have taken a similar leap and reaped major rewards.
Jessica Alba may be best known for her roles in the original Fantastic Four movies and the likes of Sin City, but she has really thrived in the world of business thanks to The Honest Company. She is believed to hold a 20 percent stake in the firm which creates natural baby and beauty products, and its success led her to be featured on Forbes’s American’s Richest Entrepreneurs Under 40 list in 2016.
In contrast, the Beats brand has become a huge hit globally and it is, of course, famously associated with Dr. Dre. However, back in 2014, it was revealed how he was actually considering a different path when the opportunity emerged.
As Business Insider outlines, the brand’s co-founder Jimmy Iovine revealed the rapper was close to investing in footwear when he bumped into him and urged him to consider speakers rather than sneakers. Fortunately, he did just that and the rest is history.
— Beats By Dre UK (@beatsbydreUK) June 23, 2015
The right advice
However, while good fortune can play a role in successful business decisions, the right advice can always make a difference too.
Betway has conducted some research into how Michael Jackson’s estate continues to make a huge amount of money a decade after his death and specifically highlights how much of the earnings come from his involvement in music publishing. Paul McCartney apparently discussed the concept of earning royalties from publishing with him in the early 1980s and Jackson then went on to buy ATV Music – and, slightly controversially, the Beatles back-catalog – for $47.5 million. Incredibly, Jackson’s estate went on to get a major financial boost when it eventually sold his stake in ATV for a massive $750 million in 2016.
Taking a chance on an up-and-coming band can also prove successful, and one celebrity who knows a thing or two about that is actor and rock star, Jared Leto. CNBC.com outlines how he has invested in more than 50 early-stage tech companies; including several successful ventures such as Airbnb and Uber. He also had a stake in smart home firm Nest, which went on to be bought by Google for more than $3 billion.
More than meets the eye
All of the above highlights how there is clearly more to some celebrities than meets the eye. Many big names have taken a leap into the business world with major success, and we hope the stories above might provide some inspiration as you can consider your next move.