It’s also becoming really effective companies with many hip-hop musicians, which is appropriate given the wealth and recognition they already have.
Many musicians already have their own collections of clothes, fragrances, record labels, some of which are listed out below. Yet there are still a lot of rappers on RapTV who made extremely smart bets that pay off big time.
Sean Combs Hip Hop Entrepreneur Sean Combs, also known as Diddy, is worth over 580 million dollars alone. Combs, the owner of Bad Boy Worldwide Entertainment Company, has a hand in a host of projects. Have you been in New York or Atlanta to a Justin’s restaurant? Held by Combs. Have you seen a movie that Bad Boy Films produced? Yeah, Combs owns it. Clothing lines, manufacturing houses and cologne lines; with a Midas power, Diddy has them all and manages them.
According to Celebrity Net Worth, Jay-z and Beyonce already have a collective net worth of $ 1 billion. While Jay-Z is an extremely popular hip hop artist, a significant percentage of his wealth has come from his business projects.
This is large because of his ’empire state of mind’ and his dreams of building his own empire.
Some of Jay-Z’s projects include buying many bars and pubs, as well as having its own album label (Roc-A-Fella Records), and even its own apparel brand (Rocawear).
Benji & Madden Joel:
Through their songs and their clothing company, the Good Charlotte twins, who once sung critically about the “Lifestyles of the Wealthy & Popular,” made themselves both wealthy and successful. The Maddens began Produced Apparel in 2005, and after growing into caps, belts and other products, gradually renamed the business D.C.M.A. Set. MADE / DCMA has been very popular with celebrities like Paris Hilton, as well as pop / punk music scene artists and fans alike.
Kanye left off art school and built a place in the music industry for himself, first as a promoter and then as a recording artist. Kanye has set up his own record label (GOOD Music) and published a book after gaining popularity (Thank You and You’re Welcome!- due in 2008). With some support from his aunt, he also wants to open a café in Washington D.C.
In addition to being one of the best-selling and most award-winning singers of all time — he sold more than 21 million copies of his six records and received 21 Grammys — he has created his own record company, G.O.O.D. Music, is a part owner of the Jay Z-owned Tidal streaming site, and has directed a variety of short films. And as the New York Times points out, his movement into the field of design has “expanded the borders of the industry … for high-street and high-art visions” from working with A.P.C., Adidas, and Louis Vuitton to introducing a women ‘s apparel line, DW Kanye at the 2011 Paris Fashion Week.
50 Cent-Curtis Jackson Hip Hop EntrepreneurWorth more than $250 million and shockingly much of his profits are far beyond the music business. 50 Cent got a launch in Business as he inked his G-Unit Apparel brand with Reebok, and started his investments with Vitamin Water’s parent company Glaceau that finally sold a massive 4.1 trillion to Coca-Cola, cutting off a pleasant slice of cake for 50 cents, leaving him with $100 million right off the bat.
Bono has pursued a variety of entrepreneurial endeavors, in addition to fronting U2 for the last three decades and working as a progressive activist. Bono and band friend Edge bought The Clarence, a two-star hotel in Dublin, in 1992. They have completed a full redesign and have converted The Clarence into a 5-star luxury hotel. In the early 2000s, Bono and a handful of wealthy businessmen formed Elevation Partners, an intellectual property-focused private equity company. To date Elevation has spent more than a billion dollars in separate media campaigns.