Celebrity endorsements have proven very successful around the world where, due to increasing consumerism, an individual is considered a status symbol when they purchase a celebrity-endorsed product. On August 1, 2007 laws were passed banning health care professionals and public figures such as movie stars or pop singers from appearing in advertisements for drugs or nutritional supplements.
Numerous celebrities have become budding business moguls and therefore established themselves as entrepreneurs and investors, idolizing many well known business leaders such as Bill Gates, Warren Buffett, or Donald Trump. For instance, NBA basketball legend, Michael Jordan became an active entrepreneur involved with many sports related ventures including investing a minority stake in the Charlotte Bobcats. Paul Newman began to sell salad dressings after a distinguished acting career[19] or rapper, Birdman who started his own record label, clothing line, and an oil business.[20] Other celebrities such as Tyler Perry, George Lucas and Steven Spielberg have become successful entrepreneurs through starting their own film production companies and running their own movie studios.[21]
Many celebrities are persistent in staying within the public eye and have been involved with various business ventures and other related investments or endorsement opportunities that go beyond their multimillion dollar salaries derived solely through waged labor as musicians, athletes, actors, television personalities etc.
No comments:
Post a Comment