What You Need to Know About Rich Celebrities
If you are interested in learning how celebrities amass their vast fortunes then you are in the right spot. While there are websites like richestcelebrities.bio that tell you who is the richest we are going to show you how these celebrities make their money.
Most Common Ways Celebrities Make Their Money
On websites like richestcelebrities.bio you will notice the focus is primarily on Hollywood celebrities so we are going to cover how these actors/actresses earn their huge incomes. The first way that the celebrity is going to generate income is with their acting roles that made them a celebrity in the first place. If the actor is acting in sitcoms/ TV shows then they will usually get paid by the episode while individuals who act in a major motion picture will be paid for the actual movie in one lump-sum, at least for the start of their career.
What some really well-established actors do is negotiate a compensation plan where they receive a lump-sum payment for the role they are performing plus incentives. These incentives usually consist of residuals which are paid to the actor over time. Whenever the movie is shown the actor will receive a portion of that revenue which may not sound like a large sum of money but when you take into consideration that the movie will be shown all over the world and it becomes clear to you just how vast the income can be from a single movie.
Making Personal Appearances
Another way that celebrities, in this case, actors make their money is by appearing at the opening of a new club or business venture. The business owners want to draw a large crowd and bring attention to their business, one way to do that is by having a major ranking Hollywood celebrity show up. These business owners are willing to spend upwards of $100k just to have the celebrity appear at their business for a few hours, so it doesn’t take long for the celebrity to make millions just to show their face.
Taking the personal appearance to the next level is the celebrity endorsement. This is when the celebrity associates their name with a particular product, service or both. Major corporations invest huge amounts of cash in advertising and one way to achieve brand recognition is with the help of Hollywood celebrities. Think about some major company and which celebrity is their ambassador, you would be shocked by the amounts these celebrities are making for virtually no added effort on their part.
These are the most common ways that celebrities make their huge fortunes but something that is equally impressive is how quickly these celebrities lose their wealth by making unwise investments. Since the celebrities have not developed the financial discipline to handle the wealth they squander it and usually end up bankrupt in the process. Check back often to find out which celebrities are making money and who is losing it!