The Last Jedi grossed a staggering $450 million at the worldwide box office its opening weekend, but George Lucas won’t be cashing in—he sold Lucasfilm to Disney in 2012 for $4.1 billion in cash and stock after decades of lofty annual hauls from the Star Wars franchise he created. Yet the force is still strong with his bank account: Lucas’ fortune now stands at $5.5 billion, making him America’s wealthiest celebrity.
Billion-dollar exits and money-spewing assets are part of the territory in the upper reaches of our list. Steven Spielberg (No. 2, $3.6 billion) has been a director for half a century, but saved one of his biggest highlights for last year with the $3.8 billion sale of DreamWorks Animation, the studio he cofounded. Oprah Winfrey (No. 3, $2.8 billion) continues to build her fortune through the OWN network but banked the bulk of her bucks from her years as a talk show host.
&#8220;What I learned in all of those thousands of interviews is that there is a common denominator in our human experience,&#8221; she once <a href="https://www.forbes.com/sites/moiraforbes/2012/09/18/oprah-winfrey-talks-philanthropy-failure-and-what-every-guest-including-beyonce-asks-her/#1b314e486bc0" target="_blank" rel="noopener">told</a> FORBES. &#8220;Everybody wants to know: &#8216;Did you hear me, and did what I say matter?'&#8221;
<a href="http://www.forbesafrica.com/woman/2017/10/16/oprah-keeping-promise-made-mandela/" target="_blank" rel="noopener">READ MORE: Oprah Keeping The Promise Made To Mandela</a>
All in all, America’s 10 wealthiest celebrities boast a combined fortune of $18 billion, up 7.8% from last year’s $16.7 billion. To compile our list, we looked at each candidate’s entire empire. We valued private company stakes by speaking with an array of experts and by considering public competitors; for publicly-traded companies, we used stock prices as of December 15, 2017.
For entertainers without private companies, we based our estimates on net lifetime earnings after taxes. Real estate, art and other assets were also factored in where applicable. Eligibility was limited to American citizens who’ve gotten rich off their fame, rather than become famous for their wealth (sorry, <a href="http://www.forbesafrica.com/focus/2017/12/07/donald-trumps-real-estate-business-losing-one-important-tenants/" target="_blank" rel="noopener">Donald Trump</a>).
This list includes a much more diverse range of names than other wealth rankings like our flagship Forbes 400: though just one of America’s 10 wealthiest celebrities is a woman, six of the figures are people of color. The list members’ areas of expertise range from Hollywood to sports to magic, and all have found ways of monetizing their respective corners of the entertainment business.
Michael Jordan (No. 4, $1.4 billion) earned $94 million on the court during his career, but has made $1.4 billion elsewhere, most notably Nike, which generates some $3 billion annually from his Jordan brand; the superstar’s 90% stake in the Charlotte Hornets has grown fourfold in value since 2010. David Copperfield rounds out the top five with a fortune of $875 million, accumulated by playing upwards of 600 shows in Las Vegas annually; his collection of more than 650,000 magical artifacts is the world’s largest.
<a href="http://www.forbesafrica.com/sport/2017/12/14/25-highest-paid-athletes-time/" target="_blank" rel="noopener">READ MORE: The 25 Highest-Paid Athletes Of All Time</a>
Hip-hop is especially well-represented thanks to Diddy (No. 6, $820 million), Jay-Z (No. 7, $810 million) and Dr. Dre ($740 million), all of whom are among the youngest names on the list. Though all three got their start as artists, their empires now revolve around non-musical ventures like Diddy’s Revolt cable channel, Jay-Z’s Armand de Brignac champagne and Dr. Dre’s Beats headphones, sold to Apple for $3 billion in 2014 (for more, check out my upcoming book, <a href="https://www.amazon.com/Kings-Diddy-Jay-Z-Hip-Hops-Multibillion-Dollar/dp/0316316539/ref=asap_bc?ie=UTF8" target="_blank" rel="noopener">3 Kings</a>).
&#8220;They said we couldn&#8217;t start businesses outside of hip-hop,&#8221; Kendrick Lamar <a href="http://www.forbesafrica.com/life/2017/12/05/kendrick-lamar-conscious-capitalist/" target="_blank" rel="noopener">told</a> FORBES earlier this year. &#8220;These are the three individuals that showed us [how].&#8221;
<h3>The 10 Richest Celebrities In America</h3>
<ol>
<li>George Lucas ($5.5 billion)</li>
<li>Steven Spielberg ($3.6 billion)</li>
<li>Oprah Winfrey ($2.8 billion)</li>
<li>Michael Jordan ($1.4 billion)</li>
<li>David Copperfield ($875 million)</li>
<li>Diddy ($820 million)</li>
<li>Jay-Z ($810 million)</li>
<li>Tiger Woods ($750 million)</li>
<li>Dr. Dre ($740 million)</li>
<li>James Patterson ($730 million)</li>
</ol>
&#8211; Written by <a href="https://www.forbes.com/sites/zackomalleygreenburg/" target="_blank" rel="noopener" data-ga-track="contrib block byline">Zack O&#8217;Malley Greenburg</a>, FORBES STAFF

America’s Wealthiest Celebrities 2017: The Top 10 By Net Worth

Comedians are B-grade celebrities in South Africa,” says Tumi Morake, a comedian famous for her brassy honesty, stand-up shows, Comedy Central Roasts and adverts with Vodacom.
“And yet I have a lot of disposable income. A lot,” she admits.
South Africa’s entertainment industry is fast growing, and bringing in vast amounts of money. Zinhle Jiyane, known as DJ Zinhle, says: “The South African entertainment industry has proven to be one of the most influential industries and its growth is something we can’t ignore.” And she’s right.
Musicians, actors, deejays and entertainers, as well as other creative industry performers, contribute 2.9% to the GDP, according to the Cultural and Creative Industries Federation (CCIFSA), and the creative economy contributes 3.6% to the total employment.
Jay Badza, a self-described brand architect and manager of some of South Africa’s biggest stars, including Bonang Matheba, predicts the industry will grow “in leaps and bounds” in the next five years.
“We’ve got a very healthy industry, and social media has tipped the scale to the entertainer,” says Badza.
Other experienced managers agree, such as Nomndeni Mdakhi, founder and managing director of Edits Communications, and DJ Zinhle’s manager. She predicts the industry will expand its footprint into the rest of the continent.
Morake admits that a ‘gig’, from stand-up to emceeing, to a mixture of the two, can earn a comedian of her calibre anything from R15,000 ($1,050) to R45,000 ($3,176) for an evening’s work.
Taffia Keight, a partner at Whacked Management, representing many of South Africa’s comedians, including Morake, says: “Depending on what other deals are done on an artiste’s behalf, [comedians] could earn between R12,000 ($850) and R250,000 ($17,000) a month.”
Comedy is a relatively new money-maker in the South African entertainment industry, and even in that sphere, it’s possible to earn a quarter of a million rand monthly – much of it through corporate gigs. Comedian Celeste Ntuli estimates she earns up to 40% of her monthly income through corporate emceeing and advertisements.
For a celebrity like Bonang Matheba, the numbers are much bigger. Nicknamed Queen B, Matheba is an A-lister through and through. She has over a million Instagram followers and is the first face of Revlon out of the United States – “A dream come true,” she says – and has her thumb in a lot of pies: she presents on Top Billing and Afternoon Express, hosts a radio show on Metro FM and has her own lingerie line at Woolworths. On top of this, she can earn anything from R30,000 ($2,120) to R100,000 ($7,060) for four hours’ work, depending on the client, hosting events like award shows and more.
Matheba’s flawless weave is a custom-made wig from Patrick Missile, and costs R15,000 ($1,050) – and that’s not including maintenance costs. For an event like the South African Style Awards, she says she can easily spend R55,000 ($3,882) for her look for that evening alone.
“My designer dress will probably cost around R50,000 ($3,530),” says Matheba, “And I’ll spend an additional R2,000 ($142) on my nails, and another R4,000 ($283) for hair and makeup for the evening – that includes having the makeup artiste at the event to touch me up.”
These are considered business expenses because, as Badza says, “An artiste is expected to be glitzy and glamorous.” Her luxury spends are holidays; 10-day trips to Mauritius, London, Paris and islands off the coast of Mozambique.
Other big earners are in the music industry. A DJ such as DJ Zinhle can earn up to R35,000 ($2,400) for an hour’s work, and can do up to five gigs between Friday and Sunday.
“You can just imagine how much she makes in a weekend,” says her manager Nomndeni Mdahki. And that’s just if she stays in the country – for international shows, also sold by the hour, the rate can easily go up to R50,000 ($3,530). Transport and accommodation are, naturally, included. Then there are celebrities expanding briskly into the international market, like DJ Black Coffee, who has been named several times by others in the industry as an example of a South African entertainer doing it right, with a growing international audience. He was not available for comment on this piece.
But even with these numbers, South Africa is lagging behind international entertainment industries. Nigeria is enormous, and South African celebs are clawing their way to Lagos, and not New York.
“The continent is opening up,” says Mdahki.
“Look at artiste collaborations, Channel O and the MTV Music Awards. In the end, it’s a numbers game. The more people you can bring in, the more money you can make. You want to develop a wide footprint out of South Africa.”
The trick for further growth is for celebrities to treat themselves like businesses, and use their social currency to expand their careers.
“Artistes don’t have to rely on the SABC anymore to become successful,” says Badza. With social media accounts, they communicate directly with their audience, and corporate and other clients look to those numbers to rate their popularity.
Mdahki agrees: “Social media is giving the power back to the talent.”
Morake, with over 55,000 Twitter followers, says celebrities need to remember that they are a brand. But perhaps most of all, the biggest key to growth, says Ntuli, is for South Africans to appreciate their own entertainers, like Nigerians appreciate theirs.

shutterstock_337480568

‘$2,400 For An Hour’s Work’

Time and again, we read of celebrities who have made and lost huge fortunes. Behind the veil of celebrity, are ordinary people that make mistakes with money just like everyone else; however their mistakes can appear to be more pronounced, as they cannot be easily reversed. Here are some important celebrity money lessons for us all.
<img loading="lazy" decoding="async" class="alignleft size-medium wp-image-4040" src="/wp-content/uploads/2017/04/Twocoms-Shutterstock.com_-194x300.jpg" alt="" width="194" height="300" />
<h4>Overspending</h4>
Celebrities are under enormous pressure to keep up appearances and often live a lifestyle far beyond their means. But spending excessively over a period of time without corresponding inflows can have dire consequences. Celebrity is almost synonymous with luxury; it is a lifestyle that is associated with visible success, not financial stability. Building wealth is not about how much you make, but how much you keep.
<h4>Poor investment choices</h4>
Seeking professional advice is always recommended, as advisors have a plethora of information with which to make informed decisions. However, not all financial advisors are honest or appreciate the fiduciary duty that comes with money management. Many celebrities delegate total responsibility to “advisors” who may end up mismanaging their money, defrauding them or making some poor investment choices. It is important to do thorough due diligence before engaging any professional.
If you pay little attention to your investments and do not understand what you are getting into, you become very vulnerable. Even though you might not have the time or expertise to manage your own finances, you ought to have a basic understanding of what you are investing in as well as the implications of doing so.
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<h4>Not paying taxes</h4>
Tax laws can be confusing and are constantly revised. Whether you are the ordinary worker or a celebrity, tax obligations cannot be ignored or they will come back to haunt you. Many celebrities have fallen foul of tax laws as they have not kept abreast of this important aspect of their financial lives. Remember that you are obliged to pay tax and if you fail to do so, the law will eventually catch up with you.
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<h4>Not having a prenuptial agreement</h4>
The pressures of celebrity, in the full glare of the media and the public, can put tremendous strain on relationships. If you bring substantial assets to a partnership, particularly where this might be a second or third marriage, it is worth considering a prenuptial agreement to protect assets before getting married. It may not be romantic, and it might not feel right to keep assets and properties separate, but it can save a couple from drawn out agony during a divorce.
&nbsp;
<h4>Not reviewing an estate plan</h4>
An estate plan should be updated to address any major life event, such as the birth of a child or grandchild, a marriage, or a divorce. If one fails to do this, beneficiaries that you planned to bequeath assets to might end up being left out of a will or trust.
&nbsp;
<h4>Not having adequate insurance</h4>
A serious illness or disability can obliterate one’s finances, especially if you have a career in sports or the entertainment industry. People tend to overlook the financial implications of a serious illness and ignore the need for insurance until a major mishap occurs; it is only then that the impact of inadequate insurance coverage or emergency savings is glaring. No matter how meticulous you are with your finances, failure to purchase adequate insurance can impair your financial future and put you in a desperate situation in an instant.
You may not be a celebrity but there are countless lessons to learn from their lifestyle. Plan for what could be an uncertain future by diversifying earning streams, investing and protecting the large sums of money earned today for tomorrow to avoid the road from riches to rags.
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For more personal finance tips, follow Money Matters With Nimi on Twitter: @MMWITHNIMI and Facebook: MoneyMattersWithNimi

Lessons To Learn From The Rich And Famous

Thrilling entertainment and spectacular crowds; expect nothing less from Tiwa Aganga Williams’ social events. From college students to A-list celebrities, thousands are drawn to his grand parties. Williams, better known as Tiwaworks, is an enterprising socialite who has put his money where his mouth is.
For years, his company, also called Tiwaworks, has created memorable experiences but nothing could have prepared him for his worst day in business.
It was all set. Another spectacular evening of entertainment was set for Atlanta, United States (US), not far from where his career was launched in college. A call from American rapper Jay Z’s Roc-A-Fella Records to have Tiwaworks host a party with one of their artists was supposed to launch his budding brand into the stratosphere. At the age of 22, Tiwaworks, who is of Nigerian descent, set the wheels in motion. It was going to be a huge party, drawing a mammoth crowd from all over Atlanta, and no expense was spared.
But things didn’t turn out as planned.
“Unfortunately, we took a big financial hit that night as everything that could go wrong did. The event was a complete flop. I was sick to my stomach and remember sitting across the street from the venue with my head down. I had raised $10,000 with a promise to repay with interest, and I had to face the music with my investors. My mother came over and advised that the financial loss is a class I paid for as I would never repeat the errors again,” says Tiwaworks.
However unwelcome, the setback reinforced Tiwaworks’ drive. It would be a mere stumbling block in his journey – a journey he had only just begun.
The genesis of his business occurred while he was the Special Events Coordinator at his college fraternity.
“When I took this role upon myself, we pretty much changed the face of marketing and entertainment for the city of Atlanta. We were doing very innovative productions, our flyers looked more creative and appealing than others, we had approached local media companies to enquire about advertising rates. We were able to distribute our product to a population of about 1.2 million people in the area instantly – something no one else was doing. We positioned ourselves strategically. This is how I opened myself to the world of entertainment and events marketing.”
Although successful now, there were lessons that Tiwaworks had to learn.
“I learned to study my market thoroughly and not take chances. Audiences will only gravitate towards what interests them. I also learned to be aware of what competitors were doing and be well prepared,” he says.
Born in England, to Nigerian parents, Tiwaworks’ roots haven’t left him. His interest in programming, while in the US, was influenced by a desire to follow in his father’s footsteps, who owned a computer networking company in Nigeria.
“About a year and a half into graduation, I realized I wasn’t really interested in programming. I didn’t want to pursue it anymore but I was also not prepared to quit on my major and start something else all over again. I decided to go ahead and finish my course.”
With great hurdles to overcome, Tiwaworks revised his strategies for doing events. Atlanta was laden with new attractions. He hosted parties with some big names in American show business: Bobby Valentino; Brandy and Jagged Edge. Sponsorship and alignment was putty in his hands as brands clamored to be a part of his parties. Tiwaworks was expanded to more cities and soon his parties were the hottest ticket.
With the impressive growth of the brand, it soon appealed to different clients.
“Our events were very casual. A lot of Nigerians soon started coming up to me enquiring if I am a countryman. In no time, we started to receive a lot of support from the Nigerian community. Soon, a friend of mine suggested that we take a chance at going back home as the entertainment scene there is really opening up.”z
In 2004, for the first time since he was 13, he returned home. With some feasibility studies and more groundwork, Tiwaworks hosted its first Nigerian event in 2008 and recently celebrated the fifth anniversary of its most upscale event – All Black Everything – an elite annual event for young professionals and celebrities to network in Nigeria.
For Tiwaworks, the secret to success is simple.
“We made our parties very personable. I establish a one-on-one relationship with everyone that comes. I built my events handshake by handshake, brick by brick. That is more powerful than any radio or television advertising spot we could ever buy. We are looking to tour about 11 cities in the US this year.”
Tiwaworks now hosts the largest weekend which draws about 25,000 people annually to the city of Atlanta boasting average revenues of about $ 600,000 on its large weekend events.
“We have used it as a marketing tool establishing relationships with many companies. With our events, you are able to place your product directly in front of the market. Companies that look for non- traditional ways to enter the market approach us. We understand consumerism.”
He also sees creativity and foresight as a crucial element of entrepreneurship.
“You have to be a visionary. You have to visualize each and every aspect of the event and how it all comes together to provide a unique experience. Putting an event together equates to looking at a blank canvas and beginning to piece it together. I am a very visual person and always looking to heighten the experience. Then comes paperwork – budgeting, costs and estimates. Sponsors always seek visibility and return on investment.”
The Atlanta Greek Picnic Weekend is another attraction built under the Tiwaworks stable. This event draws a wide variety of all the black fraternities and sororities that make up the prestigious Divine Nine.
Tiwaworks’ entrepreneurial flair is not limited to hosting social events. He has a passion for real estate and technology.
“Ultimately, I am a businessman at heart. I love doing business. One thing I have learned in business is to diversify and have multiple streams of income. We now have real estate educational seminars and speaking engagements.”
With expansion plans for Dubai, South Africa, Britain and Nigeria, Tiwaworks’ toughest period in business was a precious lesson.

Tag: Celebrities

FORBES AFRICA SOCIAL MEDIA

America’s Wealthiest Celebrities 2017: The Top 10 By Net Worth

‘$2,400 For An Hour’s Work’

Lessons To Learn From The Rich And Famous

‘I Was Sick To My Stomach’