10 Celebrities Who Became Successful Entrepreneurs
Many people are under the impression that celebrities make the majority of their income from solely being in the spotlight. Many of them, however, choose to pursue other professions within Hollywood or have ventured off into the world of business. From sporting stilettos on the runway to marketing fashion lines or from starring in film roles to owning franchises, these 10 celebrities will surprise you with their successful entrepreneurships.
10.) Patrick Schwarzenegger
Aside from being the son of famous Austrian-born bodybuilder/actor Arnold Schwarzenegger, Patrick is an entrepreneur who finances his living through his Blaze Pizza franchise located at the Grove shopping center in Los Angeles, California.
The former actor and model raised the money for his restaurant on his own. He proudly reported to People:
“It’s been my responsibility to oversee everything. I’m the owner, founder, pizza maker, pizza lover and anything else you want to throw on in there.”
9.) Mary-Kate and Ashley Olsen
In order to promote their signature boho-chic style and make it accessible to girls associated with all economic classes, the Olsen twins opened their first fashion line with Wal-Mart in 2007. Since then, the former “Full House” stars have extended their love of fashion to open other lines, including elite fashion label The Row in London and Olsenboye with JC Penney. According to a Forbes estimate, Mary-Kate and Ashley Olsen sell around $1 billion yearly in merchandise, and their combined net worth is reported to be around $100 million.
8.) Shaun White
When he is not shredding down the slopes, the two-time Olympic gold medalist is heavily involved with his creative work for numerous companies and brands. The professional snowboarder heavily assists in developing products and contributing innovative ideas with his multi-million endorsement contracts with Burton Snowboards, Oakley, Inc., Target, Red Bull and Park City Mountain resort. Since 2001, he has been invested in creating video games with Ubisoft such as “Shaun Palmer’s Pro Snowboarder” and “Shaun White Snowboarding.” According to Forbes, White is estimated to have earned $2 million per endorsement deal in 2012.
7.) Jaclyn Smith
When her acting career began to diminish, the former Charlie’s Angel transferred her passion into creating her own line of cosmetics and fashion.
When describing why she teamed up with Kmart, Smith told Success:
“I’ve always been one to take on challenges and go into unknown terrain.”
In her partnership with Kmart, Smith markets, designs and advertises as she pleases, and in 2008, she expanded her apparel line to also accommodate the sale and production of artistic decor and furniture. The talented women currently has a net worth of $75 million.
6.) Clint Eastwood
Eastwood has claimed to have had many unique jobs growing up, and despite the Academy Award winner’s success within the entertainment industry, he is still living up to that reputation. Aside from his acting, producing and directing career, Eastwood happily owns the Mission Ranch Hotel and Restaurant as well as the Tehàma Golf Club. The ownership only marginally contributes to his overall $375 million net worth.
5.) Paul Newman
In 1992, Paul Newman traded the acting life for one of philanthropy. He and A.E. Hotchner founded Newman’s Own, a nonprofit company that sells food products. Though Newman passed away in 2008, his legacy lives on and the company reports that it’s donated over $400 million total to struggling communities worldwide.
4.) Sandra Bullock
Despite her success within the acting world, Sandra Bullock is also heavily involved in expanding her career off and behind the camera. The Academy Award winning actress runs her own film production company Fortis Films, which has been responsible for producing popular works such as the $212,742,720 worldwide grossing “Miss Congeniality.”
Similar to Eastwood, Bullock also runs two non-entertainment related businesses in Austin, Texas: a Southern restaurant called Bess Bistro and a florist/bakery called Walton’s Fancy and Staple.
3.) Kathy Ireland
Former Sports Illustrated cover model Kathy Ireland has built a $350 million net worth off of the runway. After opening a sock line with Kmart in 1993, Ireland began crafting her own fashion corporation. As her products began to fill the market, she expanded her sock collection by founding Kathy Ireland Worldwide, which sells apparel, bridal wear, furniture, and home and garden decor.
2.) Jessica Alba
Actress Jessica Alba is more than just a pretty face. After the birth of her daughter Honor Marie Warren in 2008, she was prompted to create a company that would produce toxin-free products that any family with young children would be comfortable having in their home. Alba is the co-owner and cofounder of The Honest Company, which creates environmentally friendly and allergen-free baby and body products. The company skyrocketed immediately, raking in $10 million within its first year of sales in 2012. The company is projected to take in $250 million this year.
1.) Paris Hilton
Most of Paris Hilton’s wealth is surprisingly not from the Hilton legacy but rather from her cosmetic and fashion lines. Variety magazine even coined her “The Billion Dollar Entrepreneur.” She has over 45 stores in more than 40 countries, and her fragrance line alone nearly reached the $2 billion mark last year.
“As a little girl I really looked up to them and wanted to do something of my own. I could never have become a trust-fund kid and lived off a monthly allowance. As a teenager, I always said I wanted to make my own money so I never had to ask for anything.”
From her various lines — which even includes pet products, stationery and bedding — she is reportedly earning an average $10 million a year.
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