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Some of the most successful celebrities in the industry have managed to amass a massive net worth not only from their careers but by building secret business empires too.
The trend of celebrities scaling back on their acting and singing careers to focus on their businesses has grown exponentially over the years. Celebrities leverage their fame and popularity to branch out into lucrative commercial fields of business. Celebrity CEOs tend to garner instant attention with the media, which boosts the brand name. One of the most important parts of this risk-taking feat is the ability to be comfortable with rejection. Actor-turned-CEOs tend to be flexible and driven in their profession and offer products and services that everyone can enjoy.
From skin care products, fashion brands to lifestyle solutions, celebrities have expanded their reach to their fans with the transformation of the digital age. While some celebrities have found success and put their acting careers on hold, others have managed to take care of both. Here are ten celebrities who have managed to build successful business empires.
Jessica Alba
Jessica Alba is one of the most successful celebrity-turned-entrepreneurs at the moment. After starring in several movies and TV shows, Alba decided to venture into the business world by launching The Honest Company with the former CEO of the non-profit Healthy Child Healthy World. The company sells high-quality, sustainable baby-care and lifestyle products. As of June 2021, The Honest Company is valued at over $1 billion.
Gwenyth Paltrow
Apart from being a successful actress, Gwenyth Paltrow is known for her lifestyle brand Goop. Launched in 2008, Goop has accumulated a net worth of over $250 million. The name Goop came into existence after branding expert Peter Arnell told Paltrow that successful companies with double Os in their names. Started as a newsletter and now an e-commerce site, Goop has become an empire for wellness and lifestyle.
Sarah Jessica Parker
Sarah Jessica Parker became a fashion icon in the early 2000s as Carrie Bradshaw in Sex And The City. Parker channeled the same energy into launching her shoe-brand SJP named after herself, with two boutiques in America. She also has a line of perfume SJP Beauty and is the editorial director of her beauty newsletter. Her brand has garnered a net worth of $150 million.
Mark Walhberg
Mark Wahlberg, best known for his action-packed movies, has a side hustle as a successful entrepreneur. Along with his brothers Donnie and Paul Walhberg, he runs a burger business, Wahlburgers, spread across 19 states in America. It is set to have a net worth of over $300 million. He is also an investor in a water company called AQUAhydrate.
Oprah Winfrey
After becoming a broadcasting pioneer with a 25-year run of The Oprah Winfrey Show, Oprah Winfrey decided to launch her cable channel OWN network. Winfrey has a 25.5% stake in the $300 million company, valued at around $75 million. Oprah also has investments in other businesses, such as her 8% stake in Weight Watchers and her magazine ‘O’.
Reese Witherspoon
Her Southern roots-inspired Hollywood’s sweetheart Reese Witherspoon to launch her fashion brand Draper James. Named after her grandparents, Draper James offers affordable, everyday clothing. Witherspoon launched an online store in May 2015, and her products sold out merely a few hours after the launch. The brand has a solid net worth of $200 million.
Dr. Dre
Dr. Dre is an 80s hip-hop icon who is now one of the most successful entrepreneurs. He is the CEO of a movie production company Aftermath Entertainment which produced hit movies such as Straight Outta Compton. He was also the founder of Beats Electronics, which Apple took over for $3.2 billion in 2014. He earned over $603 million from the deal.
Kylie Jenner
Kylie Jenner was only 21 when she launched her popular lip kit brand Kylie Cosmetics which made her the youngest billionaire as the company is valued at over $1.2 billion. Kylie Cosmetics made $420 million within the first 18 months. In 2019, Jenner sold 51% of stakes to Coty Inc. for $600 million. The main purpose behind the brand was for Jenner to help people overcome their insecurity about their lips.
Ashton Kutcher
Ashton Kutcher has been one of the highest-paid celebrities, and he decided to invest his money into the world of technology. Along with his business partner Guy Oseary, Kutcher co-founded a venture fund called Sound Ventures. He also worked as a product engineer to collaborate with Lenovo for an app. His venture fund company has an estimated net worth of $250 million.
Rihanna
Rihanna has been an icon of the music industry for over a decade. In 2017, she launched her brand Fenty Beauty after noticing a deficit of inclusive products for people of all races. Her brand became an instant hit and was dubbed as ‘The Fenty Effect’ by the media. Following her cosmetics products, she expanded her skincare lineup and added clothing to the list too. In August 2021, her brand had a net worth of $1.4 billion, earning her the ‘billionaire’ status.
Some of the other entrepreneurs with business empires include Jared Leto, Lena Dunham, and Blake Lively. Using their fanbase and popularity to grow their business platform, these celebs have generated some lucrative companies and created their legacy for years to come.
Sources: Insider, Go Banking Rates, Cloud Peeps, Forbes.