When checking out websites like celebnetworth.wiki you may wonder how these celebrities earn such large amount of money in virtually no time at all. One of the ways they do this is by diversifying their income sources. While the website celebnetworth.wiki will tell you who has the greatest income, it will not show you the various ways that these celebrities make money. The following are just some of the ways a celebrity earns their bread and butter, but it is by no means an all-inclusive list.
This is the primary job the celebrity performs and it is usually the one we know the celebrity by, whether it is acting, sports or some other activity the “day job” is where the celebrity got their “big break” and established themselves as a celebrity. The money that is derived from the day job is usually substantial but it is not the main source of income since the celebrity has to actively work to generate the money there is a finite amount of time they can invest in this “day job”.
When the celebrity has established themselves as a household name they can earn additional income from speaking engagements. There are many celebrities who are available for speaking engagements when they are not working their day job. Companies that are rolling out a new product or looking for a keynote speaker for their upcoming event would be able to attract a larger crowd by simply having a celebrity come out for a speaking engagement. The challenge is finding tier 1 or tier 2 celebrities, if the celebrity is tier 3 or lower grade then they may not be able to attract a substantial crowd.
Endorsing Products and Services
This is a very powerful way that tier 1 celebrities earn their money, by endorsing products and services even if they do not use them. Celebrities are capable of making six and even seven figure incomes just from endorsement deals, these deals are very common in the sports niche but there are celebrities promoting everything from alcohol to clothing so there is no shortage in opportunities.
The celebrity could put out a book that documents their life, struggle, and successes. There are fans who will pay good money just to have the privilege of reading about the life their favorite celebrity has experienced. Celebrities usually get an upfront amount for the book then a portion of each and every volume sold so they have an inducement to make sure the book is a great read.
While it may sound like a cruel joke there are celebrities who are compensated for the charity work they do. The way they are compensated is in the form of tax deductions for charitable donations, these celebrities can write off the time they spent representing the charity as a taxable deduction without actually spending a cent, sounds shady but it’s quite common so keep that in mind the next time you think a celebrity is a true social justice warrior, they could just be milking the IRS and us!