The limelight can be very distracting, the fame comes with wealth that if not properly managed will vanish in no time. This probably the reason celebrities try to surround themselves with experts like business analyst, business lawyers, and advisers.
It is common to find celebrities going into other businesses, with the aim of expanding their net worth and in the process, build empires.
However, our list outlines few of these industrious celebs who have actually explored the entrepreneurial skills in them, and gone on to become gurus in that field.
Shawn Carter (better known by his stage name, Jay Z) is not just a good rapper but also a successful entrepreneur. In March 2015 Jay purchased music streaming company Aspiro for $56 million,a Norwegian media technology company that operates Tidal, subscription-based music streaming service. Tidal is curently valued at $1 billion.
The rapper formerly headed up the hip-hop record label Def Jam Records, and created the clothing line Rocawear, which he sold to Iconix Brand Group in 2007 for a staggering $204 million.
On April 2, 2013, Jay Z launched his own sports agency, Roc Nation Sports with a focus on the representations of various professional athletes. The sport management group work as partners with Creative Artists Agency.
Sean John Combs also known by his stage names Puff Daddy, Puffy, Diddy, and P. Diddy, is an American hip hop recording artist, record producer, entrepreneur and actor. In 1998, Combs started a clothing line, Sean John. It was nominated for the Council of Fashion Designers of America (CFDA) award for Menswear Designer of the Year in 2000,and won in 2004.
In addition to his clothing line, Combs owned two restaurants called Justin’s, named after his son. The original New York location closed in September 2007; the Atlanta location closed in June 2012. He is the designer of the Dallas Mavericks alternate jersey. In October 2007 Combs agreed to help develop the Cîroc vodka brand for a 50 percent share of the profits. Combs acquired the Enyce clothing line from Liz Claiborne for $20 million on October 21, 2008.
Combs also has a major equity stake in Revolt TV, a television network that also has a film production branch
Robyn Rihanna Fenty is a Barbadian singer and songwriter. Born in Saint Michael and raised in Bridgetown, she first entered the music industry by recording demo tapes under the direction of record producer Evan Rogers in 2003.
Rihanna has ventured into other businesses and industries. Rihanna’s first fragrance, “Reb’l Fleur”, was released in January 2011. The product became highly successful, according to Rolling Stone, Reb’l Fleur was a financial success and was expected to gross US$80 million at retail by the end of 2011. In November 2015, Rihanna and Benoit Demouy launched a beauty and stylist agency named Fr8me. The business based in Los Angeles was set up in order to assist artists in booking commercials, editorial shoots, ad campaigns, and red-carpet appearances.
In 2016, she released the PUMA Fenty Trainer, which premiered in red, white, and black, and then was scheduled to release in a grey “Quarry” colorway at midnight on June 14 via Packer Shoes; they sold for $180.
Kanye Omari West is an American rapper, songwriter, record producer, fashion designer, and entrepreneur. In August 2008, West revealed plans to open 10 Fatburger restaurants in the Chicago area; the first was set to open in September 2008 in Orland Park. The second followed in January 2009, while a third location is yet to be revealed, although the process is being finalized. His company, KW Foods LLC, bought the rights to the chain in Chicago.
In January 2009, West introduced his first shoe line designed for Louis Vuitton during Paris Fashion Week. The line was released in summer 2009. Also in 2009, West collaborated with Nike to release his own shoe, the Air Yeezys, with a second version released in 2012.
In December 2013, Adidas announced the beginning of their official apparel collaboration with West, to be premiered the following year
On March 30, 2015, it was announced that West is a co-owner, with various other music artists, in the music streaming service Tidal.
Andre Romelle Young better known by his stage name Dr. Dre, is an American rapper, record producer, and entrepreneur. He is the founder and current CEO of Aftermath Entertainment and Beats Electronics.
In autumn 2009, Hewlett-Packard participated in a deal to bundle Beats By Dr. Dre with some HP laptops and headsets. HP and Dr. Dre announced the deal on October 9, 2009, at a press event in Santa Monica, California. An exclusive laptop, known as the HP ENVY 15 Beats limited edition, was released for sale October 22.
In May 2014, technology giant Apple Inc. made a bid for the Beats by Dre brand for a reported $3 billion. This makes the takeover Apple’s most expensive purchase by far. The deal reportedly made Dr. Dre the “Richest Man in Hip-Hop”, surpassing former leader, Diddy.