Celebrity entrepreneurs shrewdly benefit from social media and the 24/7 entertainment news cycle. They benefits so much from these platforms, that the power of the celebrity has perhaps never been so apparent.
Of course, some famous faces see daily exposure for the wrong reasons, but a vast number of modern A-listers have chosen to use their star power as a vehicle to diversify their brands towards some exciting new ventures.
Celebrity Entrepreneurs have built-in advantages
The success of celebrity entrepreneurs shouldn’t come as too much of a shock. Studies indicate celebrity endorsements can increase sales by as much as 4%, with 71% of marketers in agreement that ongoing celebrity ambassadorships are one of the most effective forms of modern marketing.
In reality, the levels of success and the core values that celebrity entrepreneurs exhibit vary just as much as you’d expect, so we’ve taken the time to compile our own list of 4 celebrity entrepreneurs who run their own companies that we think are particularly impressive. Let’s dive in.
1. Jaden Smith – JUST Water
We suspect you’ll have heard of the first name on our list. As the son of two internationally renowned actors, Jaden Smith may have always been destined for the limelight, but Jaden’s family ties shouldn’t take anything away from the huge success as a celebrity entrepreneur with his JUST Water brand.
With sustainability and environmentalism built into the core of their business plans, the brand has both acted to improve Jaden’s public reputation, and benefit the planet as a whole. After all, the cartons JUST Water use as packaging are composed of 88% plant-derived materials, with over half of the paper products they use being responsibly harvested from Forest Stewardship certified sources.
Additionally, the square shape of JUST Water’s cartons allows more units to be transported at once, reducing carbon emissions by as much as 74% when compared to standard plastic water bottles. Combine these factors with JUST Water’s sustainably sourced spring water and it’s not hard to see how, just a few years ago, the company hit a $100 million valuation.
2. Ashton Kutcher – A-Grade Investments
Ashton Kutcher is perhaps best known for his iconic performances in the beloved sitcoms That 70’s Show and Two and a Half Men, but to many in the tech industry, Kutcher’s real achievements lie in his wildly successful venture capital firm A-Grade Investments.
Founded in 2010, it took the company only 3 years to reach a valuation of over £100 million, proving categorically that Ashton and his business partners are way ahead of the curve when it comes to spotting the next biggest things in the tech sphere.
With giant names such as Skype, Uber and Airbnb all counting A-Grade Investments as a key financial contributor during their initial funding periods, it’s fair to say that modern life may look a little different without the addition of Ashton Kutcher’s entrepreneurial spirit.
3. Gwyneth Paltrow – Goop
Not content with simply starring in slew of hugely popular films throughout the late 1990’s to the mid 2000’s, A-list actress Gwyneth Paltrow (somewhat famously) turned her sights towards the luxury lifestyle and wellness industry in 2008, primarily with the founding of Goop.com.
Goop began its life as a weekly online newsletter promoting a new-age brand of mysticism that certainly drew the eyes of the press. But, no matter your opinion on some of her wackier products, there’s no denying that Paltrow’s mix of star power and clever branding has become a runaway success, with Goop currently valued at around $250 million.
Now a certified e-commerce giant, Goop has doubled or tripled its yearly revenue on several occasions between 2014 and 2018. Despite the odd bit of bad press thanks to some misjudged marketing it seems Paltrow’s clearly defined business plan has resulted in her success as celebrity entrepreneur with a brand that’s here to stay.
4. Oprah Winfrey – Harpo Inc
Oprah Winfrey may be one of the most well-known celebrity faces in the world, with a personal fortune estimated to be worth over £2.5 billion. But, as with all entrepreneurs, it seems Oprah’s drive to create doesn’t simply end at a set monetary value.
The presenter’s main venture goes by the name Harpo Inc, and began in the late 1980’s as a TV production company used to produce her hit talk show, though since then the venture has branched out into a plethora of different entertainment industries including print media, film and radio.
Though Harpo Inc has downsized somewhat in recent years, closing down some of its media operations as the entertainment industry changes, Oprah is certainly keeping busy with her part ownership of several other popular brands like Oatly, Weight Watchers and True Food Kitchen.
Final thoughts
That just about covers our 4 favorite celebrity entrepreneurs who run their own companies, but the list of stars with a clear entrepreneurial spirit could truly go on for pages and pages. The drive and ambition that these famous faces show really is impressive, and we hope to see many more successful ventures blossoming from the celebrity world in the near future.
