10 Celebrities Who Established Incredibly Lucrative Businesses

Celebs September 8, 2017 By Hugo

Making it big in the world of show business and sport allows artists and athletes to make millions of dollars, and when their careers are established they can expect to be wealthy enough never to work again should do so wish.

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However, while most are happy to preserve their wealth by continuing to do what they love most, others see their newfound wealth in a different light and use it for outside ventures.

Here, we profile 10 celebrities who became mega-wealthy from separate ventures.

1. Paul Newman

Paul Newman graced our screens in esteemed films like the 1969 flick, Butch Cassidy and Sundance Kid. But away from acting, Newman was known for his kindness, and after amassing a tidy fortune in the movie business, the screen icon became a well-known philanthropist. 

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In fact, along with writer A.E. Hotchner, he founded his own line of food products in 1982. Initially selling just salad dressing, they soon expanded into pasta sauces, salsa and a host of other products and as of 2014, total profits prior to tax accounted for over $400m, all of which has been donated to charitable causes.

2. Michael Jordan

Forbes recently declared Michael Jordan the richest athlete of all time thanks to his successful work with the American shoe company Nike, who not only endorsed Jordan in the prime of his basketball career but also helped spawn the success of the Air Jordan brand. 

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One of the world's most popular trainers, Air Jordan's success propelled Jordan to billionaire status, with the shoe generating over $1bn in revenue for Nike each year, but as he's explained in the past, it was his agent, David Falk, who came up with the idea. "Marketing-wise, he's great. He's the one who came up with the concept of 'Air Jordan.'

3. The Olsen Twins

The Olsen Twins are very much one lucrative package, and by the time they were 3-years-old, they were already making millions as child actresses, so it's little wonder their wealth has significantly proliferated over the years.

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However, the blonde bombshells decided on a career in fashion after becoming disillusioned with acting, and it paid off big time. Today, the twins are valued at a whopping $300m following the success of their clothing line, 'The Row.'

4. Jessica Alba

Jessica Alba may not have the A-list career she once had, and she has rarely made any more than a few million for a film, but that's probably for the best as she's managed to put more time and effort into her now billion dollar business, The Honest Company.

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Run with business partner Chris Gavigan, THC specializes in environmentally friendly products like diapers and detergent and was recently valued at an eye-watering $1.7bn, which makes up nearly all of her fortune with husband Cash Warren, the son of the actor Michael Warren. 

5. Victoria Beckham

Despite retiring from the chart-topping girl band The Spice GIrls, Victoria Beckham hasn't just sat back and let soccer superstar do all the earning.

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While the bulk of the couple's fortune stems from David Beckham's lucrative soccer career and modeling endorsements, his wife's clothing brand. The Victoria Beckham Collection is sold around the world and is believed to have netted the ex- Spice Girl a cool $91m.

6. George Clooney

As well as looking like an absolute stud, George Clooney can now add billionaire entrepreneur to his burgeoning lists of talents after the actor, and his partners Rande Garber and Mike Meldman sold their stakes in their tequila company for a reported $1bn. 

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Founded in 2013, Casamigos- which means house of friends- was based on their shared love for the drink and wanting to create a hangover-free recipe. Initially, they only intended for it to be available at private events, but after a surge in demand, the drink took off, and four years later it was sold to European drinks giant Diageo in a deal which left them "shocked."

7. George Foreman 

One of the best boxers of all time, Big George achieved significant accolades in the heavyweight division and was a two-time champion of the world, allowing Foreman to retire with little financial worries.

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But Foreman's earnings pale in comparison to the money he has since made from The George Forman Grill, a fat-reducing grill that was thought up by Salton Inc, who wanted the boxing champ to endorse their product after Foreman told journalists that healthy eating aided his comeback to the ring in the 1990s.

Foreman agreed to have his name attached to the design and in little over 15 years the grill sold over 100m units, making Foreman an estimated $200m thanks to a %40 cut of the product's profits.

8. Dr. Dre

Known as one of the early pioneers of the hip-hop genre, Dr. Dre became a household name after his group N.W.A. caught the attention of record executives. However, it was Dre's role as an entrepreneur that gave him wealth he could only have dreamed of as a child.

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This was down to the creation of Beats, a headphone company set up by the music mogul with a small group of investors. Years later, Dr. Dre, whose real name is Andre Young, would sell the business to the software giant Apple, in a deal rumored to be in the region of $3 billion.

Due to tax collections and issuing large shares of the company to investors in the early stages of its conception, Young still isn't a billionaire, despite claiming he was following the deal.

9. Jay- Z

The hip hop magnate is second only to Diddy and Dre in the genre's rich list, but with Beyonce by his side, Sean Carter's wealth amounts to just over $1bn, though a large chunk of that comes through a series of wise investments.

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One of the first to truly capitalize on the commercial potential a recording artist in his genre had, Carter invested his money in other interests, one of which was a clothing line he co-designed with Damon Dash called Rocawear.

With sales annually topping $700m, Jay-Z's business earnings dwarf those achieved by album sales and touring.

10. P Diddy

The Chairman and CEO of Combs Enterprises, Sean Comb's business dealings include his Sean John clothing line, a 50% stake in the Ciroc vodka brand, a line of restaurants and a significant stake in Revolt TV.

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As a result, Diddy has a current estimated net worth of $820m, more than he likely ever would have earned as a solo artist, with his most successful album, No Way Out, selling a respectable 7 million copies.

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