Some A-listers prefer to stick to one career, while other celebrities decide to branch out and become very successful entrepreneurs. Most of them used their fame to build a brand, but managed to expand their reach and even create impressive business empires.
Find out more about the biggest celebrities turned entrepreneurs, and how they succeeded in turning their initial fame into much more, even if their showbiz career took a back seat to their business ventures.
Acting and singing took a back seat for Jessica Simpson in 2005, when she decided to branch out into fashion. Simpson has already released a line of edible cosmetics, but her new venture covered everything from clothes and fragrances to a bedroom decor line.
By 2014, the product lines were worth more than $1 billion, but Simpson doesn’t get to pocket all the profits.
Few celebrities turned entrepreneurs have been as savvy about using their own image as Kim Kardashian. Her fame may have started with a sex tape, but Kim managed to translate it into a very lucrative reality TV franchise. With clothing lines, apps and plenty of other business ventures, Kardashian is now working on strengthening her brand with her own lifestyle website, and she’s worth over $65 million. Some of her endorsements, like the Kardashian Kard ended up on the list of worst celebrity products, but she’s had many more hits than misses.
With a net worth of over $550 million, according to Forbes, Shawn Carter is one of the most successful rappers turned entrepreneurs. His latest venture, Tidal, the lossless music streaming service hasn’t yet contributed a lot to his fortune, but his deal with Live Nation and the sale of his Rocawear fashion brand have made him a very rich man.
After launching The Honest Company in 2011, Jessica Alba quickly became one of the richest celebrities turned entrepreneurs. Her brand of eco-friendly cosmetics and baby products is now worth over $1 billion, and Alba’s personal fortune has been estimated to be over $200 million. She appeared on the cover of Forbes magazine in June 2015 with the caption: “America’s Richest Self-Made Woman”.
Before retiring from modeling, Tyra Banks was earning up to $50,000 a day, but it’s her newer ventures that made her a very rich woman. Thanks to “The Tyra Banks Show” and “America’s Next Top Model”, Banks had a very lucrative TV career, because she worked with her own production company. She also released a best selling book in 2011.
Even if her music career hasn’t been a big money maker for Stefani in quite a few years, the singer turned fashion designer is also among the most successful celebrities turned entrepreneurs. L.A.M.B., her fashion brand, has been a big success, and she’s also continuing to make big money off endorsements, as one of the faces of L’Oréal Paris.
The richest rapper turned entrepreneur, Sean Combs has a net worth of $735 million, according to Forbes. From his clothing line Sean John to investments in beverages from alkaline water brand Aquahydrate to Ciroc vodka and DeLeon tequila, Diddy has continued to expand his business empire.
Mary-Kate and Ashley Olsen
The former child stars have combined assets of over $300 million follars. The celebrities turned entrepreneurs started making a lot of money at a very early age thanks to “Full House” and they managed to expand their brand to include fashion ventures from The Row to StyleMint.
Her lifestyle venture Goop has been a huge success for Paltrow and inspired countless other celebrities to follow her lead. Her “conscious uncoupling” from Coldplay singer Chris Martin meant the two had to divide combined assets of around $280 million.
One of the biggest supermodels of the ‘90s, Crawford has also found success among other celebrities turned entrepreneurs. Her business ventures include beauty products, furniture and home goods lines, along with plenty of celebrity endorsements, and she’s one of the richest models in the world.