celebrity

celebrity

Image by Andria Moore/Getty

In 2014, LeBron James made roughly $30 million doing absolutely nothing.

He’d begun an endorsement partnership with Beats Electronics back in 2008, taking an equity stake in the company over cash payment for doing nothing more than just wearing the headphones in public. Six years later, when Apple acquired Beats for $3 billion, James got to cash out — big time. Beyonce did the same with Uber. And the artist David Choe, with Facebook.

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Andria Moore courtesy of Yahoo News / Late Show with James Corden

Reality star and entrepreneur Kim Kardashian joined the ranks of celebrity tech investors last week when she launched the private equity fund Skky Partners alongside Carlyle Group veteran Jay Sammons. The firm will leverage Kardashian’s branding know-how to help launch and grow the next generation of companies in media, hospitality, luxury, digital and ecommerce, along with Sammons’ experience steering brands like Supreme, Beats by Dre, Vogue, McDonald’s China and Moncler. Kim’s “mom-ager” Kris Jenner is also on board the project as a partner.

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Image from Shutterstock

Celebs, like everyone else, just want to be in on what’s cool and new. In the last five to six years, that’s been cryptocurrency and NFTs. It’s a new frontier in celebrity shilling for products, but it’s not as straightforward as just holding up a favorite can of beer and saying it tastes great. The blockchain holds risks for everyone, and when you’re famous, the costs of taking those risks could get out of hand very quickly.

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