Funnily enough, even though celebrities do work really hard and make a lot of money off their jobs, most of their earnings are passive! In today’s economy, it’s all about having several sources of income, so the things that made celebrities famous are not actually the things that made them rich! Wondering what it is?….Read on to find out:
1. Lending Their Names:
How awesome can it be to gain tons of money just because someone writes you name? Well, some celebs took the opportunity. Jennifer Aniston earned really a lot just for lending her name to Jennifer Aniston’s Smart Water. D’Banj went a step further and launched his Koko Garri and Koko Water brands. Nwankwo Kanu is also a owner of a water bottling company – Kanu Water. Or, did he just lend his name…? Either way – easy money, right!?
Many celebrities made their first million by signing modeling contracts for beauty products, perfumes or clothing lines. For example, there are rumors that David Beckham banked $42 million from his Adidas, Coty, H&M, Sainsbury’s and Samsung campaigns.
When it comes to Nigeria, did you know that Funke Akindele signed a N20 million deal with Vitafoam? The Yoruba actress can easily be called “ the queen of endorsements”, since she had already collaborated with Globacom, Vitafoam, Qlichy.com,Jobberman.com, Klin detergent and more. Wow, the amount of Naira she got for these campaigns isn’t easy to calculate!
Reinvesting money in other projects and seeing good opportunities is really a skill…but Ashton Kutcher mastered it! This young actor made millions by investing in Spotify, Airbnb, Foursquare and many more tech companies. Justin Timberlake was a part of a $35 million deal when Myspace was sold. Lady Gaga and Kim Kardashian are smart investors as well: Kim founded ShoeDazzle with her partners, which is making her serious amounts of money, and Gaga is all into startups with potential.
In Nigeria, trading is very popular as well, especially on a local Nigerian trading platform , but since there are many VIP investment clubs out there, our celebs still keep their stocks top secret. We will find out all the gossip, don’t worry!
4. Restaurants and clubs:
Celebs know very well that putting their name (..and money) behind clubs or restaurants will pay off at least double! Eva Longoria’s Beso Hollywood restaurant or Justin Timberlake’s Southern Hospitality are worth mentioning.
Ah, let’s not forget the popular club Rumors in Ikeja and Festac Town owned by 2Baba Idibia. Now, he really has a sense for business!
5. Clothing lines:
Many VIPs tried to launch their own clothing lines, but just some of them were (really) successful. Jennifer Lopez, Paris Hilton, Gwen Stefani and Jessica Simpson are still in the business and doing just fine. But, let’s not forget Kanye West and Victoria Beckham – they are surely making millions by designing stuff!
In Nigeria, many celebs are fancy boutique owners: Mercy Aigbe with her boutique Magdivas, Chika Ike and her Fancy Nancy boutique in Abuja or Empress Njamah with her House of Empress boutique are just some of the examples.
Let’s not forget that many of our male celebs have a sense of style (and business) as well: Ruggedman with his recently launched fashion label, Sexy Steel with the Needle and Stitches clothing line, Sound Sultan with Naija Ninjas fashion label….and many more!
6. Perfumes and Beauty:
Many “big-name’’ celebrities already know that launching a perfume will make them some serious ‘’pocket money’’. Britney, Mariah, Taylor Swift and Naomi Campbell are nothing compared to the ‘’fragrance queen’’ J.Lo who has 18 perfumes! Count that cash if you can…
Our Nigerian VIPs invest in beauty as well: Annie Idibia, 2Baba’s wife, runs Be Olive Hair Collections and a salon in Atlanta, USA. Odunlade Adekola is a proud unisex salon owner etc.
7. Unusual (additional) income:
Did you know that Aerosmith has earned more money from the Guitar Hero video game than from their concerts and albums?!
The media can keep telling us that Kim Kardashian is unemployed, but her App has made $200 million so far. What an idea, right?
Nigerian music veteran eLDee founded a broadcast monitoring service called PlayData. In addition, Bisi Ibidapo Obe is still an owner of a controversial Lingerie and sex toys shop in Magodo, despite the rumors.
We hope we gave you some ideas about how to make some extra money, or at least revealed some juicy stuff about your favourite celeb! If you know other ways celebrities earn money that we haven’t discovered, help us in this ‘’money-making mission” and let us know in the comments below!
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