Wednesday, May 27, 2020

Money Management Tips from Showbiz Superstars

We’re taking a look at some celebrities who make ‘money management living‘ part of their everyday lives.

Major stars, with their frequently eccentric taste, don’t always play the real estate game to their best advantage. A clear exception is the current queen of daytime TV. Ellen DeGeneres has become one of the most well-known house-flippers in Hollywood, even if she doesn’t look at the pursuit quite that way. “I’ve never bought to sell. I always say: ‘This is it. I’m never moving.’ People laugh at me now.” She’s owned and sold 12 properties since becoming famous, of diverse sizes and styles, and made a good chunk of change in the process. She flipped one $40 million mansion for a $15 million profit. And that’s when she’s not one of the busiest people on TV.

Jay-Z will be the first to tell you he’s not a businessman—he’s a “business, man.” Shawn Carter’s career as a mogul has been fruitful, propelling him to a net worth of more than $800 million. That’s thanks to diversified investments in everything from his streaming service Tidal, which is valued at more than 10 times what he paid for it, to his Armand de Brignac champagne and Roc Nation talent agency. The latter recently negotiated Kevin Durant’s $51 million deal with the Golden State Warriors. Not bad for a rapper who grew up surrounded by drugs in Brooklyn’s Marcy Projects.

A mother of two young daughters, Jessica Alba started the Honest Company in 2012 as a way to sell organic products like baby wipes, laundry detergent, and body lotion to ethically minded consumers. It has run into legal and PR snafus, but it’s also grown to hundreds of millions in annual sales, proving she was on to something big.

50 Cent’s tenure as a radio-dominating artist may be over, but his vast business portfolio isn’t going anywhere. Among deals spanning everything from clothes to video games, he signed on to promote Vitamin Water in exchange for a stake in parent company Energy Brands. When Coca-Cola bought Energy in 2007, the deal netted 50 Cent a cool $100 million.

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