Celebrities have a plethora of ways they make additional income, and like any smart entrepreneur, they do not leave their income to only one source.
These famous celebrities have money coming in from several revenue streams, and LifeDaily is going to share these 7 Unexpected Ways Celebrities Make Extra Money:
7. Lending their name
Celebrities like Jennifer Aniston have made a ton of money simply by lending their name to a brand, product or service. This can range anywhere from a perfume to athletic attire, to skincare and even water, like Jennifer Aniston’s Smart Water ad shown above.
6. Clothing lines
Celebrities such as Jessica Simpson, Madonna and Victoria Beckham have all launched clothing and/or accessory lines. Some chose to have their names associated with their line of clothing, like Jessica Simpson did, while others chose alternative brand names. Nevertheless, the celebrity recognition of the brands are what makes them so successful.
5. Modeling
Many actors, actresses and musicians sign on for modeling contracts that can produce them hundreds of thousands, or even millions of dollars in annual revenue. These campaigns are usually for luxury beauty products, perfume and clothing lines, and these modeling contracts can be for a short series of work, or sometimes a longer period of time, as the celeb will become “the face” of a brand. Shown above is David Beckham modeling for H&M.
4. Public appearances
Many celebrities are experts in their industry and can make money just by speaking about it, discussing how they became successful, and also by doing philanthropic projects. Their public appearances are dependent upon their skill sets in their areas of expertise, and some of the appearances they will do include industry events, corporate events, conferences and seminars.
3. Commercials
Just as with celebrities lending their name, many of them will be in a commercial to further promote a brand. Just like Beyonce’s Pepsi commercial, celebrities will make a significant amount of money for doing these television commercials. Sometimes these commercials are in conjunction with ad campaigns and modeling, and sometimes they are solo. They pay both an upfront free and ongoing residuals.
2. Inventions
Many celebrities wind up making new inventions that they either license or sell. An example of this is Dr. Dre’s Beats headphones, in which Dre created these headphones around something that he is passionate about, which is music. Since the product these celebrities invent is associated with their already famous name, they get instant brand recognition.
1. Investing
Celebrities make additional income by reinvesting their money in other businesses and projects. This can range anywhere from a startup, to the stock market, to an expanding business, or even buying and selling real estate. Ashton Kutcher has been very savvy in his investments in startups such as Skype, Airbnb, Foursquare, Hipmunk and LikeALittle, to name a few. You can even take a look at his CrunchBase recent milestones list, which shows you a full list of his tech acquisitions.
We hope that this article will encourage you to consider more than one revenue stream. Please leave any comments or thoughts below.
[Featured Image Credit: denofgeek.us]
7 Unexpected Ways Celebrities Make Extra Money is a post from: LifeDaily