Hollywood may bring instant fame and fortune, but not so much stability, which is why these 9 celebrities turned successful entrepreneurs have created a different career path for themselves. We all have heard of artists who were once at the peak of their careers, then suddenly disappeared from the limelight.
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Take for example rapper 50 cent who filed for bankruptcy last year and host Larry King, who did the same thing back in 1978. Some just decided to quit Hollywood altogether such as actress Phoebe Cates, who retired from acting in 1994 in order to raise her kids. Same goes for “Honey I Shrunk the Kids” actor Rick Moranis, who left the industry in 1997 to take care of his children after his wife passed away.
There are actors who are fortunate enough to build a legacy in Hollywood. There are also those who have become instant stars like the ones we featured in the 11 celebrities who got famous from YouTube. Either way, it’s important for celebrities to look beyond show business and explore other things in case their last curtain call happens.
We curated this list from Inc.com, Business Insider, CNBC, Fortune, and AOL. Celebrities who are mentioned in any two of these or more made it to our list. These business-savvy stars are ranked according to their current net worth. Hollywood success and longevity isn’t guaranteed, thus these celebrities have decided to carve out their own path in the business arena. Let’s get some ideas and inspiration from these entrepreneur artists!
9. Gwen Stefani (Estimated net worth: $100 million)
Gwen Renée Stefani is the lead vocalist of the band No Doubt. She was part of the rock group from 1986 to 2004. Beautiful singer has sold over 30 million albums worldwide and has won three Grammy Awards, four MTV Music Video Awards, and two Billboard Music Awards. She pursued a solo career from 2004 to 2008 before reuniting with the band again. She is currently one of the judges on The Voice. Stefani has just released her newest album “This is What the Truth Feels Like” which became her first solo album that landed on the number one spot in the Billboard 200.
Aside from music, Stefani’s wealth comes from her fashion line L.A.M.B, which was launched in 2003. The singer’s successful venture has an estimated annual earnings of over $100 million. L.A.M.B. is actually the acronym of her first solo album “Love. Angel. Music. Baby.” Aside from clothes, her line has expanded to shoes, bags, fragrance, and children’s clothing. She also launched another brand called Harajuku Lovers with an array of products such as fragrance and watches suited for a younger market.
8. Robert de Niro (Estimated net worth: $200 million)
Robert Anthony de Niro is one of the highly acclaimed actors in Hollywood with 100 films in his acting career. He has won two Academy Awards for the movies “The Godfather II” and “Raging Bull” aside from numerous acting awards here and abroad. He was also given The Cecil B. DeMille Award at the Golden Globes and the Lifetime Achievement Award by the American Film Institute. De Niro was ranked number one by Empire UK Magazine in The Greatest Living Actor list.
If the actor has a Midas touch in acting, he has the same in business. De Niro is the part-owner of two restaurants namely Nobu and Ago. Nobu is a Japanese restaurant that has 33 branches worldwideincluding the US, Europe, Asia, Australia, Mexico and Caribbean, Middle East, and Africa. Ago is a classic Italian restaurant that has captured the hearts of Hollywood diners and tourists. The actor also has a stake in another Italian restaurant Locanda Verde. De Niro has recently co-created a new vodka brand called VDKA 6100.
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7. Beyoncé (Estimated net worth: $265 million)
Beyoncé Giselle Knowles-Carter is everybody’s Queen Bey or Queen B. She started as the lead singer of Destiny’s Child before pursuing her solo career. Her first solo album Dangerously In Love garnered five Grammy Awards. Billboard has recognized her as the Top Radio Song Artist of the Decade in 2009 and Top Female Artist of the 2000s. They also gave her the Millennium Award in 2011. Beyoncé has won 20 Grammys and has been the most nominated woman in the show’s history.
Beyoncé already raked in over $500 million in gross earnings in her solo career with Forbes estimating her net worth at $265 million as of 2016. Queen B is just as adept in business as her husband, Jay-Z. Her wealth comes from various ventures such as multimillion-dollar endorsements from big brands like Pepsi and Tommy Hilfiger for her own fragrance line. She has partnered with Topshop for the active wear line Parkwood Topshop Athletic Ltd where the singer has a 50/50 stake. She’s also the co-owner of Tidal along with other artists. She has a contemporary women’s fashion line called House of Deréon aside from her Ivy Park active wear brand. Beyoncé has recently partnered with her trainer Marco Borges in a vegan food delivery service called “22 Days Nutrition.”
6. Victoria Beckham (Estimated net worth: $320 million)
Victoria Caroline Beckham is known as Posh Spice in the British pop group Spice Girls. The immensely popular 90s group has sold over 55 million records worldwide. She left the group in 2000 to start her solo career. Her first song “Out of Your Mind” landed in the number two slot in the UK Singles Chart. Known for her chic outfits during her Spice Girl days, it came as no surprise that her business venture was directly related to fashion.
Beckham launched her eponymous fashion line Victoria Beckham. Initially known for dresses, the brand has expanded to luxury bags, fragrance, and eyewear. From a newbie in the fashion industry, Beckham quickly gained recognition as a style icon becoming one of the most anticipated and talked about designers during New York Fashion Week. Her brand was recognized as the Designer Brand of the Year in 2011 by the British Fashion Awards. She also launched a lower-priced line called Victoria. In 2014, Beckham was named by Management Today as the Top Entrepreneur in Britain. Talk about girl power!
5. Jessica Alba (Estimated net worth: $340 million)
Jessica Marie Alba is one of the most beautiful stars in Hollywood. From her TV success in “Dark Angel” to her movie roles in “Sin City” and “Fantastic Four” franchise, the actress has been a consistent fan favorite and darling of the press. Alba has been a mainstay in the sexiest and hottest lists of different magazines such as FHM, Playboy, and GQ. She ranked #1 on Maxim’s Hot 100 list back in 2001 and has been on that list consistently up to 2014. Men’s Health named her as one of the 100 Hottest Women of All-Time while People named her as one of 2012’s Most Beautiful At Every Age.
But there’s more to this pretty face than what most people know. Alba owns the very successful startup The Honest Company, which is currently valued at $1 billion. Forbes estimates her wealth at $340 million. She even became the cover of Forbes’ Self-Made Women’s Issue in 2015. It all started with an allergic reaction to a laundry detergent that prompted Alba to put up a company that offers non-toxic, and child-friendly products. Some of them are organic beeswax sunscreens, vegan-leather diaper bags, organic premium formula milk, Immunity Plus vitamins, and more! For a mom like Alba, safety sells. Her company ensures that consumers are getting the safest and best products in the market. And this translates to millions in sales.
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4. Paul Newman (Estimated net worth: $600 million)
Paul Leonard Newman is known for his Academy Award-winning role in “The Color of Money.” Not only that, he is one of the four actors who have been nominated for an Oscar in five different decades. It’s an accomplishment he shares with Jack Nicholson, Michael Caine, and Laurence Olivier. He won Best Actor at the Cannes Film Festival for “The Long Hot Summer.” Aside from being a film legend, he is also known as “the man with the most famous blue eyes in movie history.”
In 1982, Newman founded his food company called Newman’s Own. They initially began selling salad dressing which later on expanded to pasta sauce, salsa, popcorn, lemonade, wine, and more. What’s more impressive is that he donates all his company’s after-tax earnings to charity. His total giving as of January 2016 has amounted to $460 million. In 2008, Newman passed away at the age of 83 due to lung cancer. At the time of his death, the actor’s estate was valued at over $600 million. For all of his acting and charity legacy, Newman truly deserves a spot in our list of 9 celebrities turned successful entrepreneurs.
3. Jay-Z (Estimated net worth: $610 million)
According to Forbes, Shawn “Jay-Z” Carter earned $56 million in 2015 alone. But what most people don’t know is that he has an authentic rags-to-riches story. Born in New York and raised by a single mom, he grew up in a housing project and reportedly sold cocaine to get by. That didn’t stop him from building his own record label in the mid-90s. He released his first album “Reasonable Doubt” which turned platinum, instantly putting him on the stamp on the history of hip-hop. He has sold over 100 million records and has received 21 Grammy Awards.
Aside from his success in the music industry, Jay-Z has also proven his business acumen. WithForbes estimating his wealth at $610 million, the music mogul’s coffers was currently boosted by his ownership of Tidal, a music streaming platform that competes with Spotify and Apple Music. He also acquired Aspiro, a Norwegian media company. Jay-Z is currently a part owner of the NBA team Brooklyn Nets and 40/40 Club in New York City. The upscale sports bar has already expanded to Chicago and is set to open in Tokyo and Singapore. He also has his own sports agency Roc Nation Sports, representing various professional artists. Jay-Z invested in the beauty line Carol’s Daughter, champagne Armand de Brignac, and plane booking app JetSmarter. He sold his clothing company Rocawear back in 2006 for $200 million.
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2. Diddy (Estimated net worth: $750 million)
Sean John “Diddy” Combs is known by many names such as Puff Daddy, Diddy, and P. Diddy. Born in Harlem, New York, he started his career as a dancer in music videos. He then realized that producers were the one earning money in the industry. In the early 90s, he applied and got hired as a talent director at Uptown Records. Not long after, he launched his own label Bad Boy Entertainment in 1993. His first album “No Way Out” was certified platinum seven times. He has had similar success with his succeeding albums. Combs has received three Grammy Awards and a couple of MTV Music Video Awards.
As an entrepreneur, Combs was ranked 12th by Fortune Magazine in their 40 Entrepreneurs Under 40 list back in 2002. He is currently the richest rapper in the industry with a net worth of $750 million according to Forbes. Most of his wealth currently comes from his popular clothing line Sean John, TV network Revolt, and lucrative alkaline water for athletes Aquahydrate. He also invested in Diageo’s Ciroc vodka where he owns a 50% stake. He acquired the clothing line Enyce from Liz Claiborne for $20 million back in 2008. Combs used to own Justin’s, a restaurant named after his son, which had two branches.
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1. Oprah (Estimated net worth: $3.2 million)
Oprah Gail Winfrey is the “Queen of All Media.” Her talk show “The Oprah Winfrey Show” has been the highest rated program in that category from 1986 to 2011. She has named many times as one of the most influential people in the world. In fact, President Barack Obama gave her the Presidential Medal of Freedom in 2013. The 62-year-old host turned media mogul was also awarded doctorate degrees from Harvard and Duke University.
Oprah’s real time net worth is at $3.2 million, according to Forbes. She ranks #2 on Forbes’ 2016 list of America’s Richest Self-Made Women. She is the founder and CEO of Harpo Productions and Oprah Winfrey Network (OWN). She also publishes the popular O Magazine which features a lot of her favorite things and recommendations. Despite leaving her talk show in 2011, Oprah showed that she can remain at the top of her game through the establishment of her TV network in partnership with The Discovery Channel. OWN recently had the most viewership growth in 2015 according to Nielsen. She recently invested in Weight Watchers and became part of their Board, doubling the stock of the company. Oprah is the first black female billionaire in the world.
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Not all careers guarantee lifetime fulfillment and stability. These 9 celebrities turned successful entrepreneurs prove that success can be found outside the glitz and glamor of Hollywood. Each of them has found their passion in different business ventures. From fashion to food, these stars know how to shine wherever they are.
