Wealth and Riches: The True Lives of the Rich and Famous
By Kazeem Kareem
The Rich and Famous are often idolized for their lavish lifestyles. We watch television shows about them, read articles written about them, and even try to emulate some of the things they do in our own lives. But what is it really like to be rich? What does a typical day look like for someone who has more money than most people will ever make in their lifetime? Why do these people become famous in the first place?
The levels to which the rich and famous can go are almost limitless. They love to shop for designer clothes, buy houses around the world, book private jets to fly anywhere in the world within hours. They Wiz around in luxurious cars like Ferraris, Lamborghini’s, Porsche’s, Bentley’s or Bugatti’s. They love to party like royals, host parties on their yachts with friends and family, or throw extravagant events filled with glamorous celebrities, exquisitely catered foods and drinks for guests.
Celebrities can earn an obscene amount of money in their careers, but did you know some celebrities are worth over $1billion? The main reason for this is that many media personalities like music mogul P. Diddy have businesses outside their profession.
P Diddy – Photograph by Shannon Stapleton — Reuters
Between 2000 and 2020, Diddy earned well over $1 billion from his majorly lucrative business empire including money from music royalties, partnerships, sponsorships and his investments in brands like Ciroq vodka.The superstar also owns a stake in DeLeon tequila and an alkaline water brand called Aquahydrate.With this being said, it’s not hard to see why Rap stars are some of the wealthiest musicians on the planet.
The Rich & Famous live very different lifestyles. Actors spend a lot of time at home, working out-of-home production studios or on set for film productions, while musicians are often touring the world, performing live shows for adoring fans.
Many successful entertainers are multi-millionaires with no inheritance. Most have made their fortunes by being at the right place at the right time. They usually sign lucrative contracts with major record labels, in turn they and the record label would agree on a specified amount of advance money that could run into the millions, and if they become successful, they can make more hundreds of thousands or even millions. They also collect huge amounts of revenue from touring and performing at sold-out concerts for millions of people across the world.
Cristiano Ronaldo – Luxatic.com
Rich athletes are paid enormous salaries to compete at top level competitions like Wembly, Wimbledon or The Olympics, where they could win gold medals that can make them more marketable for brands promotions, therefore more money and accolades.
Rich and famous actors star in blockbuster films that may open at #1 on the box office charts, grossing hundreds of millions of dollars worldwide.
Also, most rich entertainers have entertainment lawyers to help them with contracts and do legal routine work for them. If you’re wondering what a typical entrainment lawyer does, he/she negotiates deals on behalf of their client, which includes everything from movie appearances to merchandise endorsements that generate income for the artist. Another thing that rich entertainers hire is managers to take care of all business affairs as well as personal needs such as travel arrangements and setting up meetings with business associates. Most people don’t know this, but majority of famous rappers own publishing companies which gets around 75% or more of a song’s profit.
Floyd Mayweather – Instagram
These entertainers also hire teams of personal assistants to run errands, do laundry and even drive them places they can’t drive themselves because most famous rappers don’t have their regular driver’s license. They also own several luxury cars such as Bentley’s, Ferrari’s and more which they keep in warehouses until needed.
We can learn about how these people live on television shows or through tabloid articles, but it is important that we remember that there is more than just one way to be successful in life. People become rich for different reasons, which means everyone has a unique perspective of success. Whether you want to make money from designing clothes, singing songs on stage, writing books, or performing surgeries; your career path should reflect who you are as an individual person with interests and passions different from those around you.
This is why it’s important to be true to yourself when you’re trying to build a career path. Don’t try and take on a job that doesn’t fit your personal interests or talents because you think it will make lots of money, instead focus on what makes the most sense for who you are as an individual person. Lifestyles can vary greatly from one celebrity to another but having the freedom in life where we don’t have dependents relying on us means not needing majority of our salary go towards bills which allows us more room for fun! I personally believe this is truly being rich – no matter how much money we make there will always be things left over after essentials, so may as well enjoy life with all those extra pennies.