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Stars Turn Business Moguls: From Screen to CEO
8 Feb
Summary
- Celebrities leverage fame to build billion-dollar brands.
- Companies span beauty, media, fashion, and beverages.
- Many brands incorporate social purpose and inclusivity.
Leading ladies in Hollywood are increasingly taking on roles as powerful CEOs and founders, extending their influence beyond the silver screen.
Reese Witherspoon, frustrated with script choices, founded Hello Sunshine in 2016, a media company that supports women-led stories and has produced hits like 'Big Little Lies.' In 2021, she sold a majority stake for approximately $900 million, while continuing an active role. She also manages her fashion brand, Draper James.
Selena Gomez launched Rare Beauty in 2020, challenging unrealistic beauty standards and generating over $300 million in sales in 2023. A significant portion of sales supports mental health initiatives through the Rare Impact Fund.
Jennifer Lopez has expanded her lifestyle brand with JLo Beauty, launched in January 2021, featuring a unique olive oil blend. She also ventured into the beverage market with Delola and continues to produce films through Nuyorican Productions.
Rihanna became a billionaire with Fenty Beauty, established in 2017 with LVMH, celebrated for its inclusivity across all skin tones and available in over 150 countries. Her brand also includes Savage X Fenty, Fenty Skin, and Fenty Hair.
Jessica Alba founded The Honest Company in 2011, providing safe, non-toxic products. The company went public on the Nasdaq in 2021, raising $412 million in its IPO, marking Alba's transition from actress to the head of a publicly traded corporation.
