Bono, Jay-Z and Sir Paul McCartney are some of the biggest and richest artists in the world. Everybody knows their names, but do you know where their royalties lie?
Bono, from the group U2, is grossing in at $1 billion due to his investments in Facebook. Facebook is now valued at $100 billion this year and Bono’s invested 1% in the company. If you do the math, you'll see that this was a very wise move. While Bono is using his money for charities and stock, Madonna is dabbling in fashion, footwear, underwear and accessories. She has also written the fastest-selling children's picture book ever and owns a chain of gyms called Hard Candy Fitness.
Another diva who has famously gotten her name on the richest rock stars list is Mariah Carey. With contracts with Pepsi and Elizabeth Arden, she too owns her own line of shoes, jewelry and fragrances. Speaking of beverages, Sean "Diddy" Combs has a contract with spirits giant Diageo to promote Ciroc Vodka.
Whether it's through MTV, the radio, or your parents LP collection, we've heard these stars' names, and now we have a little insight into what they're worth. Whether you're Sir Elton John, Mick Jagger or Sting, riches come in abundance with hard work and a little endorsement with a personal business on the side.
This Chart Provides a Look into the Lives of the Wealthiest Rockstars
1. Celebrity Branding - There is a disruptive innovation opportunity for businesses to collaborate with celebrities and leverage their personal brands for increased exposure and profitability.
2. Multi-dimensional Investments - With the success stories of rock stars like Bono, there is an opportunity for individuals and businesses to explore diverse investment options beyond traditional avenues.
3. Diversification of Revenue Streams - The trend of rock stars branching out into different industries highlights the potential for businesses to diversify their income sources and capitalize on existing brand recognition.
1. Fashion and Apparel - There is a disruptive innovation opportunity for the fashion and apparel industry to collaborate with celebrities and create exclusive product lines.
2. Beverage and Spirits - The success of celebrity endorsements in the beverage and spirits industry presents a disruptive innovation opportunity for other brands to partner with influential figures to promote their products.
3. Entertainment and Media - The entertainment and media industry can explore new ways to monetize celebrity personas and create platforms for stars to venture into different entrepreneurial endeavors.