The media and entertainment industry is expected to reach $2.2 trillion by 2021. The world of celebrity really is a lucrative one, but that didn’t stop some celebrity entrepreneurs from shooting even higher.
Here are 5 entertainment entrepreneurs who’ve turned their side hustle into a major success.
The star of Sin City and Fantastic Four, Alba was a household name before she switched her focus. The inciting incident: an allergic reaction to laundry detergent.
The troublesome experience birthed the idea for The Honest Company, a startup that sells more than 100 nontoxic products. Launched in 2011, Alba’s business sells products online and in retail locations including Whole Foods and Target.
The company is now valued at $1.7 billion making Alba’s career as an actress pale in comparison.
George Clooney is a two-time academy award winner but that’s not all! He’s also the co-founder of Casamigos, a lucrative tequila company that sold for a whopping $700 million in 2017.
Clooney developed the tequila with nightlife entrepreneur Rande Gerber before partnering with real estate mogul Mike Meldman to launch the company in 2013. It went on to sell amazingly, peaking at 170,000 cases in 2017.
Reese Witherspoon is something of a serial entrepreneur, starting no less than three companies in recent years.
The first was Pacific Standard in 2012, a production company that has gone on to develop multiple hit movies including Gone Girl and Wild. Three years later, Witherspoon launched Draper James, a clothing and lifestyle brand that now sells in Nordstrom stores.
Her latest venture is a multimedia firm called Hello Sunshine. Breaking into the market in 2016, the firm aims to bring female-centric literary properties to film and TV.
Jessica Simpson went from pop sensation to reality television star before breaking into the world of entrepreneurship in 2006. That year saw her co-found the Jessica Simpson Collection, a shoe line that soon took off, expanding into clothing, jewelry, and sunglasses.
With one success under her belt, she turned her sights to the world of homewares, launching a home goods collection followed by a line of baby clothes.
Over a decade in, her brands bring in over $1 billion a year. Not bad for a reality TV star.
Venus Williams is known for dominating the tennis court but it might surprise you to learn she also dominates the world of entrepreneurship. As the CEO of not one, but two companies, Williams is a brilliant businesswoman.
Her clothing line, EleVen is a fashion-forward activewear line that celebrates individuality while her interior design firm V Starr Interiors allows her to work on celebrity condos and resorts. Both businesses are booming, proving that Williams knows as much about ThePayStubs as a good serve.
Celebrity Entrepreneurs Exist
Being a celebrity might seem like a fulfilling enough career choice, but not so for these 5 celebrity entrepreneurs! Jessica Simpson to Venus Williams, these 5 celebs are proof that one can have your cake and eat it too.
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