Business People

Top Celebrity Business Ventures

In this modern day and age, it seems like everyone is starting their own business. With the advent of the internet, it became extremely easy for most people in developed countries to advertise their goods and services. Celebrities are no different in this regard, with many of them running successful ventures in addition to their careers in showbiz.

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In fact, celebrity ventures make a lot of sense. They’re already familiar faces, so endorsing their own products is much easier for them. Their fan base provides a loyal customer following, so taking advantage of this is only logical. Below are some business ventures of celebrities that had varying degrees of success:

Paul Newman

When we talk about celebrity business ventures, Paul Newman is one of the first names to come up. Newman was a Hollywood heartthrob with the quintessential blond hair and blue eyes. Now, he’s mostly remembered for Newman’s Own, the company he started in 1982 with A.E. Hotchner, the author.

This was actually a non-profit company that focused on making condiments and other foods such as popcorn, drinks, frozen meals, etc. The venture was philanthropic for the most part, so all its profits after taxes were donated to charity. The company and its principles remained in operation even after Newman died in 2008.  To date, Newman’s Own has donated around $400 million to several charities.

The Power of PeoplePhoebe Cates

Cates was a well-known name back in the day, especially after the success of her movie “Fast Times at Ridgemont High”. She last appeared in movies in 2001, and since then has been immersed in her family and her business. The latter is a boutique called Blue Tree, which is located in New York City on the Upper East Side.

What’s impressive here is that Cates hasn’t just delegated the store to managers. Instead of staying in the background and enjoying the profits, she personally manages the store herself. If anyone drops by the shop at any point, they have a high chance of seeing her.

Robert DeNiro

DeNiro is among those celebrity entrepreneurs who gained quite a bit of success from their ventures. The Oscar-winning actor actually has several ventures in his hands, including TriBeCa Productions, a film studio, and TriBeCa Grill, an upscale restaurant. He’s also famous for owning Greenwich Hotel and the abundant location of Noby and Ago.

The name of TriBeCa further branched out to a Film Festival in the year 2002. DeNiro is an involved entrepreneur, tasting the dishes that his restaurant provides and making sure they’re up to the mark.

Jay-Z

Jay-Z is a well-known rapper and music produces, but he’s also ventured into entrepreneurship alongside all that. He started his business interest in the 1990s, and now owns quite a lot of ventures in several fields. These include real estate, clothing, and even a sports bar named the 40/40 Club.

In this way, Jay-Z has his finger in many pies, so he’s assured of some sort of income in almost every situation. His clothing brand is called Rocawear, but he sold it for the large amount of $204 million to the Iconix Brand Group. Meanwhile, the 40/40 Club he’s part owner of has spread to several other cities. This is naturally making him even more money than before.

Jessica Alba

Jessica Alba is also one of the most well-known actresses of Hollywood today. She’s famous for a lot of movies but is probably most recognizable as part of the Fantastic Four. Alba became an entrepreneur when she realized the need for healthy products in order to prevent allergic reactions in children. She gained the inspiration for this venture after she faced an allergic reaction of her own as a child.

To this end, she launched what we now know as The Honest Co. This company sells organic, hypo-allergenic, non-toxic products for using at home. These include detergents, sunscreen, and the like. Soon, the company operations grew and expanded, now being worth nearly $1 billion as of 2017.

These products are aimed at making things easier for mothers and keeping children safe from toxins. The products are distributed a family and baby items through online subscriptions and retail stores as well.

Dr. Dre

Dr. Dre’s original name is Andre Romelle Young, and he’s mainly a rapper plus producer. However, most people are now familiar with his name due to the line of music gadgets called Beats by Dr. Dre. These include headphones, speakers, and other audio products.

This company was founded as a partnership between Dr. Dre and Jimmy Iovine, the chairman of Geffen A&M Records. The inspiration behind this venture was the disappointment of both individuals in what the tech giant Apple provided by the way of earphones. The duo decided that these earphones were too flimsy for enjoying music properly. Hence, Beat by Dr. Dre was born. The rapper gave the company his name in order to boost its image and make it more familiar.

Eventually, the popularity of the company’s products became something of a cultural phenomenon. However, it’s now a subsidiary for Apple and is called Beats Electronics. Dr. Dre and his partner must have gained a lot of financial benefit through this transfer.

Kevin Costner

Costner became a household name due to his work in Waterworld, but he’s connected to the ocean in more ways than that. The actor is also known for playing Robin Hood, but he didn’t stop there.

He actually owns a company named Ocean Therapy Solutions, having bought it from the United States government for $24 million. This venture is quite useful, as it works on separating oil from water. This is an excellent initiative for making Earth a cleaner and better place.

After purchasing the company, Costner worked on the technology to solve the oil spill catastrophe of Deepwater Horizon. The oil slick was endangering the region of the Gulf of Mexico, but Costner’s technology managed to save the day.

Clint Eastwood

Clint Eastwood is probably one of the most famous actors to date, but he’s also been in the business world since the 1990s. His businesses include the Tehama Golf Club and the Mission Ranch Hotel in California. The latter was previously a former dairy farm that had been condemned. Eastwood managed to convert it into a fancy luxury hotel.

However, these projects aren’t run with the main intention of making money. Many people may have expected the hotel and golf club to be out of reach for the common man, but the prices aren’t that high.

Another important factor here is that Eastwood wants sustainable development for his ventures as much as possible. This includes using wind and solar power, organic farming, and local plants in order to keep the resort running. This might drive up the prices, but is certainly an admirable step on his part.

Conclusion:

Celebrity businesses are quite reasonable decisions, as showbiz is a fickle career path at the best of times. When their stardom eventually fades or they want to retire, these celebrities will have something to fall back upon. It’s also commendable that some of them are making sure their business is sustainable and beneficial to others in some way.

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