In recent days, several black celebrities have been making money outside their domain of influence. They are not only making money from acting, music, sponsorship deals, albums, sports and Instagram posts.
A significant number of them have become investors or venture capitalists, making some of them billionaires and others halfway to becoming billionaires via their investment in popular brands and other potential startups.
Recently, money.co.uk published a list of successful celebrities who double as investors. The list of 30 celebrities included some Black celebrities.
The Celebrity Investments Index analysed 30 celebrities “based on their business investments to determine which showbiz stars are the most prolific investors and in what investment areas.”
They were surveyed on the following five factors: net worth, number of investments (personal and partner investments), highest investment sum, estimated total amount of funding and average investment sum.
Billionaire rapper turned entrepreneur Jay-Z topped the chart as the celebrity with the most investments. Jay-Z has made millions from album sales and tour sellouts. However, a significant majority of his wealth comes from his business ventures. His ventures include music, tech and luxurious alcohol brands.
According to money.co.uk, Jay-Z has at least 11 personal and partner investments with a total investment sum of US$983 million with tech and champagne being his biggest investment areas. According to Forbes, Jay-Z has a net worth of US$1.2 billion.
The second black celebrity with the most investment is Oprah Winfrey. The billionaire has a successful media career spanning over 20 years. She has transitioned her talk show into a business and a media empire.
Oprah has a 25.5 percent stake in cable channel OWN. She also has a 10 percent stake in Weight Watchers. Her other investment includes Maven clinic, Oatly, Apeel Sciences, True food kitchen and Waywire.
Dr Dre is a music producer and is considered a modern music perfectionist. He began his entrepreneurial journey in 1996 and has since not looked back. He founded Beats and sold it to Apple for US$3 billion although he still has 20 percent stake in it.
Tennis great Serena Williams through her Serena Ventures has invested in 34 startups over the past five years with 60 percent of the investments focused on companies founded by women and minorities.
She launched a self-funded, direct-to-consumer clothing line, S by Serena, in 2018. She also owns stakes in the Miami Dolphins and UFC.
Born Williams Adams, the entrepreneur is a multi-faceted entertainer and creative innovator, and a seven-time Grammy Award winner. In 2017, he invested in and acquired a US$4.6 million stake in app-only bank Atom.
He has also dabbled in tech in the last few years, putting money in startups such as the app Knock Knock and launching gadgets such as his own line of headphones.
In 2014, he invested US$6 million in Music Messenger’s Series A round, followed by a further investment of £5 million in Shellanoo Group and £3 million investment in Honest Dollar.
Nasir Jones aka Nas has gradually established himself as one of the most prolific investors in the world. In April, Yahoo News reported that he could be US$100 million richer following his 2013 investment in Coinbase, the cryptocurrency exchange expected to reach over US$100 billion in valuation once it hits the Nasdaq.
He is also the founder of QueensBridge Venture Partners. The Los Angeles-based firm has reportedly invested in more than 40 start-ups across a range of sectors like financial technology, healthcare, and music production.
Some of the firms he has invested in include Lyft, Dropbox, Coinbase, Tradesy, and LANDR, a start-up that uses big data and artificial intelligence to produce music.
Will Smith is an actor and a movie producer. According to crunchbase, he has made 21 investments across diverse sectors. He has invested in firms such as Superhuman, Titan, Sundae, Sandbox VR, Flockjay among others.
Rihanna is the richest female musician in the world with a net worth of US$1.7 billion. Her investment portfolio includes her 50 percent stake in Fenty Beauty which accounts for US$1.4 billion of her worth.
The rest of her worth comes from her stake in her lingerie company, Savage x Fenty, worth an estimated $270 million, and her earnings from music and acting.
Beyond music, 50 Cent started investing in other ventures quite early in his music career. He invested in Vitaminwater, which was sold to Coca-Cola for US$4.1 billion. His other ventures include footwear, headphones, Casper mattresses, Le Chemin du Roi Champagne and Branson Cognac.
Tyra Banks is an actress, author, television personality, supermodel, and founder of TZONE. According to crunchbase, Banks has invested in four companies. They include TheSkimm, Videogram, The Muse and Shop Tap Industries.
Aside from music, Beyoncé is also a prolific investor. She recently announced that she was investing in a hemp farm to obtain her own CBD.She also has a partnership with Adidas. The music icon further has a streaming music service and serves as a spokesmodel for L’Oreal. She also promotes Pepsi and is into film production. –Face2Face Africa