So the hustle days of this week has officially began. oh well it’s not been easy, especially during these times and when I mean these times, I’m not talking about this pandemic. No I’m talking about this new era where huge amounts of money could be gone in just one transaction.
So we are gonna be discussing something very important in the entertainment industry. Financial stability.
We have had the case of many celebs run dry and become more broke than ever and this is simply because during the high days, they had zero or low investments and during their low days they still wanted to live high just because they are celebrities.
First, looking at the problem at hand and this is mainly for the new celebs or soon to be celebs is that the figures can be deceiving and also intoxicating.
An up and coming star gets his or her first big pay check and it’s reading in 6 figures. Wow… There’s a lot of stuffs to do, designers to buy, parties to stunt and so much more.
Especially for the guys, there’s the problem of classy ladies. It is usually said that “rat that follows the lizard to enter water should know that when they come out their bodies would not be the same.
It’s good to look good. “Fresh geng” “bop daddy” “leader of the new school” osheee but then even a tree that stands firm in the midst of goats had to be protected during it’s growth.
This is why it is very important to get financial guardians. Let’s take for example, two big celebrities from the 90’s. P Diddy and MC Hammer.
As at today, MC hammer is yet to fully pay his debt and still owes debts of about 1 million dollars. On the other hand P Diddy as at 2019 has a net worth estimate of about 740 million dollars.
What’s the difference? MC hammer was the hottest Artist of his time but was not business minded and this entertainment industry is like a merry go round, time and seasons come and go so use yours very wisely and invest.
P Diddy did not have much hits and waves like MC hammer but he is innovative. He quickly invested in record labels, music houses and finally released his clothing line which has been one of the top clothing brands and his major source of income. Sean John.
See even Tony Braxton ran into bankruptcy twice. Why? She had spending issues. Same thing with Michael Jackson, Michael Jackson had a dept of about $ 400 million dollars before his debt. His finance manager said he was a millionaire spending like a billionaire and this was because Michael never invested in owning his own music house.
So there are lots to invest in as a celebrity. Kyle Jenner, the youngest billionaire in the world is a celeb who invested in cosmetics and boom she is made.
So this is just a tip off on what sustains wealth for a celeb.
It’s business Monday, share your views on this topic by commenting in the comments section below.
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© Ultimate Akpenyi
Celebrities tends to go broke faster because of the kind of people they surround themselves with. It is better to keep your circle small, with business orientated minds there by keeping you in focus.
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