How Do The Famous Become Super Rich?
By Maia O'Conner
June 16, 2022
When we look at the rich and famous, the first question we may wonder is: how did they do it? How did they get to become super-rich? While it’s true, money can’t buy happiness, it does give you the freedom and security to live comfortably.
That’s why people strive to make as much money as they can so they can provide security and a good standard of living for both themselves and their families. So, we hear you ask, is there a secret formula famous people know about that we don’t?
The super-rich believes in working for something they want to achieve. Once they find a job they love, they invest so much into it – so much so that they become one of the best in their field. They post on social media, make guest appearances, and even launch their clothing or perfume lines. The way they diversify and take advantage of any and each opportunity adds to their wealth.
Royalties: the never-ending money stream
And no, we don’t mean the ones who sit on the throne. Friends, the beloved TV show, ran for 10 seasons. The show made actors Matthew Perry, Matt LeBlanc, Jennifer Aniston, David Schwimmer, Lisa Kudrow, and Courteney Cox extremely rich.
If a series is redistributed, released on DVD, purchased by a streaming service, or otherwise used beyond what the actors were originally paid for, those actors are entitled to be paid royalties. They just sit back and watch the cash roll in!
Creating a presence through social media
The impact of social media is palpable in our modern world. Celebrities become accessible through social media and, although this can have both positive and negative effects, they utilize it to help promote themselves. Ultimately, this helps make more money.
Being in contact with fans makes a celebrity more personable and gives a fan the feeling that they know their favorite famous personalities. This increases popularity.
Launching their brands and celebrity endorsement campaigns
If you see a pair of sneakers endorsed by your favorite celeb or idol, the urge to get your hands on a pair kicks in! Celebrity endorsement also builds credibility to a brand, celebrities are known to have the ability to influence others. Big companies can use that power to boost their products and, as a result, increase sales and awareness.
Celebs, of course, are paid well for doing this. The company knows that sales will rocket as it becomes the next must-have item, and the product will most probably fly off the shelves! A perfect example of this is the partnership between Michael Jordan and Nike, with the release of the Air Jordan brand. This endorsement made Jordan over a billion dollars.
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