These members of Hollywood have all joined the seven figure club.
Despite major paydays for some of the world's most famous celebrities, there are surprisingly few billionaires in Hollywood. Those entertainers that have passed the impressive mark on their bank statements have done so thanks to their ability to leverage their success into other business opportunities.
Celebrities like Oprah Winfrey and Michael Jordan have branched out to create lucrative ventures across different industries, bringing in multiple sources of revenue. These solid investment strategies have guaranteed that they'll be set for life... and probably generations to come.
Tyler Perry became a household name for his "Madea" films, which he both created and starred in, and has gone on to become an entertainment mogul. Not only is he an actor, director and producer, but he also owns 100% of the content he's created. On top of that, he recently made a deal with Viacom which gives him 25% of streaming service BET+. Tyler is also owner of Tyler Perry Studios, a massive studio lot in Atlanta valued at $280 million, where he films his TV shows and movies.
According to Forbes, Tyler has earned more than $1.4 billion since 2005, bringing in $97 million in 2020 alone.
Jay-Z is the first hip hop artist to become a billionaire, transitioning his music career into other entrepreneurial pursuits. Early in his career, he realized the importance of building his own brands instead of promoting someone else's, leading him to begin Roc Nation as well as his clothing line Rocawear, his cognac brand D'Ussé and music-streaming service Tidal.
In addition to that, he also reportedly has $220 million in cash and investments, a music catalog worth $75 million and millions in his art collection and real estate. According to Forbes, Jay is worth over a billion dollars.
Although Kanye West’s exact net worth has been debated, Forbes recently declared him a billionaire thanks to his lucrative "Yeezy" line. In addition to his $1.26 billion stake in the company, Kanye has also brought in an estimated $90 million thanks to his music career which includes recorded music and publishing rights. He also holds $35 million in stocks, $21 million in real estate and over $3 million worth of vehicles.
Over the course of her career, Oprah Winfrey has reportedly brought in over $2 billion. Her talk show ran for 25 years and after its conclusion, she began her own media empire, starting with her television network, OWN. She also has a content creation deal with Apple TV+, a 7% stake in Weight Watchers and multiple other investments that have turned her into a billionaire. According to Forbes, Oprah is worth $2 billion.
Michael Jordan is often regarded as the NBA's greatest all-time player but since beginning his career on the basketball courts, he has branched out into major endorsement deals. According to Forbes, he has earned an estimated $1.8 billion from corporate partners. Even after retiring from the sport, he still has partnerships with Nike, Hanes, Gatorade and Upper Deck. He also has an ownership stake in the Charlotte Hornets, bringing his current net worth to $1.6 billion.
Famed director Steven Spielberg has amassed a net over $3 billion dollars since beginning his career in the entertainment industry. According to Forbes, his films like "Jaws" and "Jurassic Park" have grossed $10.1 billion worldwide. Additionally, he’s a founding partner of DreamWorks studios and also receives a cut from every ticket at Universal theme parks. Today, his net worth is estimated to be $3.7 billion.
George Lucas rose to fame as the creator of "Star Wars," with the top earning film in the series bringing in over $1 billion worldwide. He then sold Lucasfilm, the production company behind the franchise, to Disney in 2012 and brought in $4.1 billion in stock and cash. Forbes estimates his net worth to be $6.9 billion.
While Elon Musk didn’t begin his career with the intention of becoming a celebrity, he certainly has become a popular fixture in celebrity headlines. With aims to revolutionize the transportation industry, he founded Tesla Inc. in 2003 and followed up with SpaceX, which is valued at $46 billion. Forbes now estimates Elon to be worth over $182 billion.