Depending on which category a celebrity falls into, the time slot for making money is quite short. “A listers” will have more time compared to “D listers” who have enjoyed their five minutes of fame and need to continue to make “hay whilst the sun still shines”! As soon as a celebrity hits the limelight they often diversify their portfolio in order to get rich quick. The majority of their income is from sources extra to their “day job”.
Celebrities need to ensure they stay in the limelight in order to maximise their impact. Often all publicity is positive, whether it’s good or bad! Looking good is essential and they become household names.
Celebrities often work under many labels for example an estimate of joe rogan net worth is around $25 – $30 million, this stems from being a stand up comedian, actor, martial arts commentator, host and jiu jitsu black belt.
Here are some of the ways that celebrities make their fortune.
Clothing lines
The obsession with what celebrities wear is not likely to dwindle. Celebrity magazines are literally crammed with pictures of celebrities in different clothes. Many people like to copy the fashions and styles of certain celebrities, so what better way for them to make a bit of extra money – than to bring out their own clothing range!
Often designers and clothing brands approach celebrities to use “their name” in order to promote a clothing range. Usually the actual design process is not in the celebrities skill set, although they may contribute to ideas. All that remains is for the celebrity to complete a photo shoot wearing the clothes and then they can reap in a percentage of the profits.
Perfume
Have you noticed how every celebrity who is someone has their own perfume line? Consumers even want to smell like their favourite celebrity, meaning that the names David Beckham, Britney Spears and Paris Hilton features on many dressing tables across the land!
Restaurants
Celebrities realise that if they put their money behind restaurants and bars there is a lot of money to be made. Celebrity restaurants include Ashton Kutcher – Atlanta, Robert De Niro – New York and Robert Redford’s Zoom in Utah. Some are named after the celebrity whereas others are endorsed by them and focus more on the food and dining experience rather than the celebrity status.
Social Media
Social media is crammed with celebrity photos and tweets. Social media followings of celebrities is huge and brands are prepared to pay a lot of money to be involved on a social media platform of famous people. Brands know that their audience will be huge if it is endorsed by a celebrity across platforms. Fashion brands will may massive amounts to celebrities wearing their clothes and trainers worn by footballers will gain massive popularity.
This is just a tiny snapshot of how celebrities make their fortune, there are many more. It’s astonishing how much a famous name can potentially generate in revenue. Some celebrities continue to make money as they age, for example Kate Moss now makes more money than when she did in her youth on the catwalk.
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