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Why There Are Fewer Billionaires in Hollywood Than You Expect
By:
Emmanuel Mclean
May 4, 2023
Hollywood is the most glamorous place on Earth, where A-list celebrities are paid millions for films, music albums, brand endorsements, and public appearances. But while most of your favorite celebrities are millionaires, very few have reached billionaire status so far. Yes, it's true that Hollywood is a very generous place that can reward successful entertainers with millions of dollars.
But there are only six celebrities who have made it to the billion-dollar club. What did these entertainers do differently to build such a massive net worth? They used their Hollywood success and fame to venture into other businesses or invested their millions into publically traded companies with high returns.
But as more and more celebrities find ways to increase their income streams, this billionaire club could get bigger in no time. In the past two years alone, this club has welcomed three new celebrities -- Kanye, Jay-Z, and Tyler Perry -- who have earned the title with their shrewd investment decisions.
You're probably wondering if Kylie Jenner's name is on the list. The youngest member of the Kardashian-Jenner clan was once a billionaire as well but she recently lost her title after Forbes released a shocking article about the lies she and her family drummed up to inflate her wealth.

Kanye West

Shutterstock | Kanye West, the self-proclaimed musical genius, is one of the greatest rappers of all time

Kanye West, the self-proclaimed musical genius, is one of the greatest rappers of all time, but he owes his net worth to more than just his music career.

West hit the jackpot when he signed a deal with Adidas to make his own footwear line called Yeezy, which is not a business worth over a billion dollars. While Forbes once reported his net worth to be $1.3 billion, that number has taken a nosedive in recent years and today, the "Run This Town" artist is worth $400 million.

Jay-Z

DepositPhotos | In 2019, Forbes crowned Jay-Z as a billionaire

In 2019, Forbes crowned Jay-Z as a billionaire, but the rapper hasn't released new music in years. So how did he multiply his net worth over such a short period of time?

According to Forbes, the rapper only earned half of his net worth from his 14 albums. The rest came from his other businesses, including his clothing line Iconix, which he sold off for $204 million, as well as the music-streaming Tidal, which earned him a $56-million cheque.

Oprah Winfrey

Shutterstock | Oprah Winfrey's road to success is nothing short of inspirational

Oprah Winfrey's road to success is nothing short of inspirational. The television show host got her start as a radio jockey, but she quickly learned the ropes to land her own television show called 'The Oprah Winfrey Show,' which allowed her to build her own media empire worth millions.

In 2003, Forbes announced that she was a billionaire, and today, she has a net worth of over $2.5 billion.

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