celebrity http://www.wisebread.com/taxonomy/term/4486/all en-US Investment Secrets of the Rich and Famous http://www.wisebread.com/investment-secrets-of-the-rich-and-famous <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/investment-secrets-of-the-rich-and-famous" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/piggy-bank-5304321-small.jpg" alt="gold piggy bank" title="gold piggy bank" class="imagecache imagecache-250w" width="250" height="181" /></a> </div> </div> </div> <p>Hollywood celebrities, recording artists, and professional athletes are among the highest paid people in the United States. According to a <a href="http://www.forbes.com/celebrities/">celeb ranking on Forbes</a>, Taylor Swift and Tiger Woods each pull down over $50 million per year while Will Smith surpasses the $20-million mark.</p> <p>It is true that many with exceptionally high incomes aren't rich due to bad financial management. But there are noteable exceptions we can learn from &mdash; Steven Spielberg with a net worth of $3.2 billion and Oprah Winfrey with $2.8 billion, both on <a href="http://www.forbes.com/forbes-400/list/">Forbes' list of richest Americans</a>. The <a href="http://www.celebritynetworth.com/list/top-50-richest-celebrities/">wealthiest of non-billionaire stars</a> include Bono, Jay-Z, Will Smith, and Ellen DeGeneres with total assets ranging from $100 million to $600 million.</p> <h2>How Celebrities Build Wealth</h2> <p>There's no one-style-fits-all investment formula among celebrities that I could detect. However, I did notice some investing themes worth sharing.</p> <p><strong>Invest in Yourself</strong></p> <p>Celebrities realize that their bodies, brains, and brands are their most important assets. The wealthiest find ways to maximize their payouts and leverage their names, generally through contract negotiations and celebrity endorsements. Money spent on promoting and positioning themselves as a brand is more investment than extravagance. (See also: <a href="http://www.wisebread.com/5-ways-to-make-extra-income-online-today">5 Ways to Make Extra Income Online Today</a>)</p> <p><strong>Invest in Tech Startups</strong></p> <p>The most common type of outside investment is the technology startup. Celebs often envision possibilities for tech applications pertinent to their industries and up-and-coming generations. Plus, the deep pockets and media presence of pop culture stars may be attractive to founders of startups who seek investment dollars and publicity.</p> <p>Examples of technology investments:</p> <ul> <li>Golf professional <a href="http://www.nytimes.com/2004/04/25/us/google-goes-public-search-for-rich-get-richer.html?pagewanted=all&amp;src=pm">Tiger Woods invested in Google</a> prior to its initial public offering.<br /> &nbsp;</li> <li>Singer Justin Bieber and comedian Ellen DeGeneres contributed to the <a href="http://mashable.com/2012/10/25/yahoo-acquires-stamped/">funding of mobile-app Stamped that was later acquired by Yahoo!</a>.<br /> &nbsp;</li> <li>Actor <a href="http://www.businessinsider.com/will-smith-invested-in-fancy-2013-7">Will Smith invested in Fancy</a>, a shopping site; he and rapper Jay-Z also put money into <a href="http://www.starpulse.com/news/Kevin_Blair/2012/04/24/jayz_and_will_smith_invest_in_new_ipho">Viddy, an iPhone app for video sharing</a>.<br /> &nbsp;</li> <li>Lady Gaga led <a href="http://techcrunch.com/2012/02/16/lady-gaga-backed-backplane-raises-over-4m-from-sequoia-more-acquires-sharing-platform-cortex/">funding for Backplane</a>, which provides web power for online communities of fans (the first was <a href="https://littlemonsters.com/">LittleMonsters.com</a> for Lady Gaga herself).<br /> &nbsp;</li> <li>Actor Ashton Kutcher joined an <a href="http://www.theatlantic.com/technology/archive/2011/06/ashton-kutchers-surprisingly-successful-tech-investments/240367/">investment group that purchased Skype</a> for nearly $2.8 billion and then sold to Microsoft for $8+ billion a few years later.</li> </ul> <p><strong>Leverage Expertise in Business Ventures</strong></p> <p>Celebrities often launch or become part owners of entertainment-oriented ventures, such as professional sports teams, luxury properties, restaurants, fashion empires, and television networks. Many of these businesses are closely tied to their areas of expertise.</p> <p>For example, talk show host and media mogul Oprah Winfrey invested her time and money in <a href="http://www.businessweek.com/articles/2013-07-31/an-aha-moment-oprah-winfreys-own-is-finally-profitable-dot">OWN (Oprah Winfrey Network), a joint venture with Discovery Communications</a>. Former NBA player Earvin &quot;Magic&quot; Johnson runs <a href="http://magicjohnson.com/company.php">MJE (Magic Johnson Enterprises)</a>, which includes investments in real estate and private equity funds, a chain restaurant, and a media company. These are departures from Johnson's basketball career but consistent with his urban-oriented, multi-cultural brand image.</p> <p><strong>Place Money With Investment Managers</strong></p> <p>Putting money with outside money managers seems like a boring way to make your assets grow in value. This method of wealth building may not seem as newsworthy as a stake in a tech startup or a professional sports team. So, the number of celebs that adopt this tactic may be underreported.</p> <p>However, I recently learned that <a href="http://www.investmentnews.com/article/20110911/REG/309119956">Taylor Swift's father is an investment manager</a> for high-net-worth clients. Presumably, Taylor is one of his clients or, at minimum, he provides her with financial advice such as &quot;save your money.&quot;</p> <p>Others who have <a href="http://www.forbes.com/sites/zackomalleygreenburg/2012/11/26/how-to-invest-like-david-letterman-andre-agassi-and-steffi-graf/">hired professionals for money management</a> include talk show host David Letterman and tennis stars Andre Agassi and Steffi Graf. Notably, U2 lead singer Bono is a co-founder and managing director of <a href="http://www.elevation.com/index.html">Elevation Partners, a global private equity investment firm</a>.</p> <h2>Lessons for Regular People</h2> <p>Just like the rest of us, celebrities make smart moves and stupid mistakes. We can learn from their successes and failures.</p> <p><strong>Maximize Earnings</strong></p> <p>Start by maximizing your earnings throughout your career. Personal finance expert <a href="http://www.jonathanclements.com/aboutclements.html">Jonathan Clements</a> advises me that our capacity to make money through a regular job or business is often the most overlooked income-producing asset.</p> <p><strong>Invest in Tech</strong></p> <p>With thousands rather than millions of dollars to invest, the average investor may not have the access to or risk tolerance for funding early-stage tech startups. However, you can purchase tech-oriented stocks or a specialty mutual fund or ETF in the technology sector.</p> <p><strong>Invest in What You Know</strong></p> <p>Like celebrities, you can invest within your circle of competence even if you don't start your own business. Acquire shares in companies with which you are familiar and make money in ways you understand. (See also: <a href="http://www.wisebread.com/17-places-to-find-investment-inspiration">17 Places to Find Investment Inspiration</a>)</p> <p><strong>Take Advantage of Online Management Tools</strong></p> <p>Finally, although private management is largely considered a perk of those with more than $500,000 of investable assets, portfolio management is becoming more accessible to regular people with modest wealth. Online brokerages offer a variety of money-management services, for example. (See also: <a href="http://www.wisebread.com/5-best-online-brokerages">5 Best Online Brokerages</a>)</p> <p>To build and keep your wealth, avoid common celebrity mistakes: Don't count on high income forever, spend within your means, and steer clear of investment scams.</p> <p><em>Have you learned anything about investing from celebrity hits and misses?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/julie-rains">Julie Rains</a> of <a href="http://www.wisebread.com/investment-secrets-of-the-rich-and-famous">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-make-the-most-of-your-401K">How to Make the Most of Your 401K</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-investing-lessons-you-must-teach-your-kids">10 Investing Lessons You Must Teach Your Kids</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-real-value-of-forever-stamps">The Real Value of Forever Stamps</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/basic-tips-for-investing-in-a-business-1">Basic Tips for Investing in a Business</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-basics-you-must-know-before-you-start-investing">6 Basics You Must Know Before You Start Investing</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Investment celebrity investing tricks investment Tue, 27 Aug 2013 10:24:35 +0000 Julie Rains 981522 at http://www.wisebread.com 6 Considerations When Hiring a Celebrity Spokesperson http://www.wisebread.com/small-business/6-considerations-when-hiring-a-celebrity-spokesperson <div class="field field-type-link field-field-url"> <div class="field-label">Link:&nbsp;</div> <div class="field-items"> <div class="field-item odd"> <a href="http://www.openforum.com/idea-hub/topics/marketing/article/6-considerations-when-hiring-a-celebrity-spokesperson" target="_blank">http://www.openforum.com/idea-hub/topics/marketing/article/6-considerations-when...</a> </div> </div> </div> <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/small-business/6-considerations-when-hiring-a-celebrity-spokesperson" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock_000010400842Small.jpg" alt="" title="" class="imagecache imagecache-250w" width="250" height="166" /></a> </div> </div> </div> <p>Sports equipment manufacturer <a target="_blank" href="https://www.unequal.com/">Unequal Technologies</a> garnered a staggering degree of buzz last year that sent sales figures soaring. The catalyst? The firm hitched its star to the most controversial and arguably most reviled figure in the National Football League: Michael Vick, the former Pro Bowl quarterback who spent 18 months in prison on dogfighting and conspiracy charges.</p> <p>Unequal Technologies was the first company to sign Vick to an endorsement deal after his prison stint. The move unleashed a torrent of media coverage. Sales jumped 1,000 percent in the short term and are now about triple what they were a year ago.</p> <p>The company flouted convention with its risky endorsement, betting on an instant deluge of coverage and the forgiveness of sports fans. While it&rsquo;s certainly not a textbook play, the example illustrates how hiring a celebrity spokesperson can significantly boost a business&rsquo;s profile and credibility.</p> <p>For most small businesses, it&rsquo;s a question of money, media impact, and making sure you find the right fit for your image. Here&rsquo;s a look at six things to consider when it comes to celebrity spokespeople.</p> <h3>Finding a Good Fit</h3> <p>Business owners should look for candidates who mesh well with their target audience and key demographics. It doesn&rsquo;t make a lot of sense to have a senior citizen (no matter how famous) hawking products or services geared toward readers of the <i>Twilight</i> series.</p> <p>For example, we recently hired UFC fighter, Silver Star recipient, and Iraq War hero <a target="_blank" href="http://www.hireheroesusa.org/about/partners/va-mortgage-center">Brian Stann</a> as the official spokesman for our mortgage company, which specializes in VA loans. Brian has an incredible story, but he also has a passion for helping veterans. That was a key factor in our decision.</p> <p>Brian went on to refinance his current mortgage with us. Teaming with a celebrity who is a fan of your product or service can be incredibly beneficial, but business owners shouldn&rsquo;t expect any sort of discount if that&rsquo;s the case.</p> <h3>Know Your Budget</h3> <p>A-list celebrities don&rsquo;t come cheap. Unless you&rsquo;re a multimillion-dollar behemoth of a company, odds are you won&rsquo;t be able to afford top-tier movie stars and pro athletes. Celebrities in this stratosphere are probably starting in the mid six figures, depending on the project. If you don&rsquo;t have that kind of budget, start lower on the food chain.</p> <p>Agencies that specialize in celebrity bookings can connect interested companies with potential B-list celebrity matches. Heck, even some former A-listers looking to rehab or otherwise burnish their image (ahem, Michael Vick) might be available for cheap. Business owners can reach out to agents directly, finding them via some Google sleuthing or through a subscription service like <a target="_blank" href="http://whorepresents.com/">Who Represents</a>. Make sure you enter that conversation with a firm number in hand.</p> <p>Businesses with a more community focus can utilize local celebrities, such as TV news anchors, retired sports figures, and other neighborhood standouts.</p> <h3>Get Specific and Be Prepared</h3> <p>Make sure you&rsquo;re getting the access, image, and deliverables that you&rsquo;re paying for when the time comes. Contracts should get specific in terms of appearances, access, and other key details covering how the spokesperson&rsquo;s time and likeness can be utilized.</p> <p>Our visual director spent a full day with Brian Stann during his training for an upcoming UFC fight. He got amazing video from Brian&rsquo;s workout as well as intimate time with his family and an in-depth on-camera interview. The videos, still images, and sound bites will be used in an array of materials across multiple media formats.</p> <p>There&rsquo;s another notable lesson in here: Show up prepared. You&rsquo;re probably not going to get a lot of time with the celebrity, so make sure to maximize your window. Audio, video, scripts, teleprompters &mdash; make sure everything is ready to go if you&rsquo;re handling production duties. Make the process as painless as possible for the spokesperson.</p> <h3>Consider the Small Details</h3> <p>No one wants to embody the image of the boot-licking lackey, so consider it more along the lines of customer service. Within reason, do what it takes to ensure the spokesperson is happy and at ease. Maybe that&rsquo;s in terms of travel, or restaurants, or the type of ridiculously expensive bottled water they require.</p> <h3>Maximize the Exposure</h3> <p>Craft a multilayered media plan that maximizes the impact and reach of your investment. Today, that means social media campaigns and releases along with the tried-and-true methods of relationship building and straight pitching associated with public relations efforts. Don&rsquo;t expect the celebrity&rsquo;s media people to lift a finger, even if you&rsquo;re working for a nonprofit.</p> <p>Drill down into your demographics and the appeal of your spokesman. Look for unique organizations, communities and online influencers who can spread the message.</p> <h3>Prepare for the Worst</h3> <p>Unequal Technologies got Michael Vick on the cheap because of his career trajectory. But what about all those companies who sponsored him before his arrest and conviction?</p> <p>Have a game plan prepared to handle some potential worst-case scenarios involving your spokesperson. You might have to make a difficult decision one day about whether to support your embattled celebrity or cut him or her loose. Just as your brand and services reflect on the celebrity, so, too, do their words and actions reflect on <em>you</em>.</p> <p>That can be a treacherous two-way street.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/chris-birk">Chris Birk</a> of <a href="http://www.wisebread.com/small-business/6-considerations-when-hiring-a-celebrity-spokesperson">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/250-tips-for-small-business-owners">250+ Tips for Small Business Owners</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-find-freelance-clients-part-two">How to Find Freelance Clients: Part Two</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/25-products-you-think-you-need-but-really-don-t">25 Products You Think You Need, but Really Don’t</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-things-all-successful-freelancers-do">10 Things All Successful Freelancers Do</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/3-ways-to-fund-your-business-without-touching-savings">3 Ways to Fund Your Business Without Touching Savings</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Small Business Resource Center celebrity marketing small business spokesperson Fri, 13 May 2011 20:18:20 +0000 Chris Birk 536677 at http://www.wisebread.com They're turning Paris Hilton's trash into cash. http://www.wisebread.com/theyre-turning-paris-hiltons-trash-into-cash <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/theyre-turning-paris-hiltons-trash-into-cash" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/Picture_1_2.png" alt="" title="" class="imagecache imagecache-250w" width="250" height="110" /></a> </div> </div> </div> <p>There's a new website in town folks, and this one is literally scraping the bottom of the barrel. <a href="http://hollywoodstartrash.com/list.html">HollywoodStarTrash.com</a> has hit upon an idea that turns dumpster diving into something quite, well, distasteful. They rummage through the garbage cans of Hollywood biggest stars and sell what they find. And as always, the infamous Paris Hilton tops the list of star junk.</p> <p><strong>What's on sale, I hear you ask? The list is quite disturbing. </strong></p> <p>For $50 (starting price) you can get yourself this used Paris Hilton deodorant. Mmmm.</p> <p><img height="297" width="239" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/wisebread_imce/item023.jpg" alt="Deo" title="Deo" /></p> <p>&nbsp;</p> <p>For $100 (starting price) you can buy some used Paris Hilton envelopes. Great deal.</p> <p><img height="295" width="238" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/wisebread_imce/item016.jpg" alt="Envelopes" title="Envelopes" /></p> <p>&nbsp;</p> <p>For the same $100 (starting price) you could treat yourself to some grubby make-up puffs.</p> <p><img height="307" width="247" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/wisebread_imce/item030.jpg" alt="puffs" title="puffs" /></p> <p>&nbsp;</p> <p>And for a whopping $250 (starting price) how about Paris Hilton's drug prescription? Yes, they're serious.</p> <p><img height="339" width="273" src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/wisebread_imce/item002.jpg" alt="Prescription" title="Prescription" /></p> <p><strong>SO, is all this just harmless profit? </strong><br /> Personally, I don't think so. Believe me, I have no love for Paris Hilton. I think certain celebrities are asking for a little punishment based on the the way they behave, and Hilton is the classic example of the 'media whore.' But to encourage digging through garbage for a soiled make-up puff or old prescription is just a sad indication of the times we live in.</p> <p>Are we so desperate for fame and celebrity that we'll do anything to get close to it? Even if that means buying trash? Well, the website lists many of the items it has already sold, including empty coke cans and used q-tips. If there's an audience, our Internet culture will guarantee a supplier.</p> <p>So I throw this out to you, the Wisebread readers. Would you buy trash from your favorite celebrity, or do you think it's just trash? I know one thing for sure. I wouldn't.</p> <p>&nbsp;</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/paul-michael">Paul Michael</a> of <a href="http://www.wisebread.com/theyre-turning-paris-hiltons-trash-into-cash">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-3"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/eco-capitalism-how-to-make-money-from-garbage">Eco-Capitalism - How to make money from garbage</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-a-teenager-started-a-multi-million-dollar-online-business-with-a-parrot">How a Teenager Started A Multi-Million Dollar Online Business with a Parrot. UPDATED</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/hoopde-for-sale-starting-price-500-winning-bid-226521">Hoopde for sale. Starting price - $500. Winning bid - $226,521.</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-launder-money">How to Launder Money</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/101-tax-deductions-for-bloggers-and-freelancers">101 Tax deductions for bloggers and freelancers</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Life Hacks auction business celebrity garbage money money for nothing trash website Wed, 18 Jul 2007 17:59:26 +0000 Paul Michael 859 at http://www.wisebread.com