Looking at celebrities and sports stars, it can be difficult to see how they have massed such large fortunes. Some celebrities have careers that have spanned decades, and this has given them time to build a sizeable fortune. However, there are others who are younger and relatively new to the world of sports and celebrities who have impressive net worths, but how have they managed this?
With Their Main Profession
One way they may have elevated their net worth is by partaking in their profession or sports. If they are playing in the NFL, they will be on a good salary, and they will most likely get performance bonuses on top of a weekly or monthly wage. If they are movie stars or TV celebrities, they will earn money for their performances. They also make money from residuals from past performances and acting. You may find that with sports stars and celebrities, their profession is the bread and butter of their worth, and then they have other areas that act as their fillings.
In addition to their main profession, you will often find that celebrities and sports stars have side businesses. For example, Andrew Tate’s Casino Business is something that has earnt him some money after his kickboxing career ended. Movie stars such as Mark Wahlberg and Donnie Wahlberg have invested in food outlets, increasing their earning opportunities. Madonna has a side business (so side hustle) with books, and Rob Lowe has a skincare brand. Of course, not all celebrities like to be at the forefront of their brands. Some like to stay behind the scenes and remain a largely silent partner.
Brand Opportunities and Deals
You may also find that sports stars are famed for their brand deals and opportunities, from forging links with soft drink providers to putting their names on the latest sportswear and apparel. With brand opportunities and deals, sports stars and celebrities have opportunities offered to them at various points in their career as their appeal changes. For example, movie stars such as Jane Fonda have been able to have many endorsements and deals as they gracefully age because their target audience and fans are aging alongside them. Some brand deals and opportunities can be worth millions to celebrities and sports stars, and they are often negotiable depending on the popularity of the person involved in the deal.
Personal Appearances and Public Speaking
After countless interviews and questions, talking comes naturally to most celebrities. Most are respected and looked up to, and it feels only right that public speaking becomes second nature. In the midst of their careers, or as their careers are taking on a transformation, you will find that celebrities and sports stars begin speaking at events and making personal appearances. Some of these appearances are for private brands and families, and they can command five or six-figure sums just for a 30-minute appearance. Public speaking and personal appearances are increasing in popularity, and with more events virtual as in-person, the earning opportunities for celebrities and sports stars seem to be never-ending.