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Celebrities are sometimes seen as trendsetters—however in the case of enterprise investments, even their fame can’t assure success. Many stars have poured tens of millions into ventures that later fell aside, leaving them with extra remorse than returns. Studying about their errors helps us all perceive the dangers behind flashy offers. Whether or not it was actual property, tech, or eating places, these celebrities realized onerous classes the costly method. Listed here are 5 celeb regrets enterprise funding tales—every one a cautionary story for anybody with massive ambitions and deep pockets.
1. Kim Basinger and the Failed City Buy
Picture Supply: YouTube/Web page Six
Kim Basinger famously bought your complete city of Braselton, Georgiafor roughly $20 million in 1988, hoping to remodel it right into a movie-themed vacationer vacation spot. Sadly, the plan collapsed, and he or she later bought a lot of the city for simply $1 million—dropping practically $19 million within the course of. Critics say the mission was overly formidable and poorly deliberate, missing a viable enterprise mannequin. Basinger ultimately filed for chapter in 1993 after the flop turned too heavy to maintain. This is likely one of the most placing examples of a celeb regretting a enterprise funding gone terribly fallacious.
2. Jay‑Z’s $50 Million Lodge Ventures
Picture Supply: YouTube/Peacock
Earlier than reaching billionaire standing, Jay‑Z invested over $50 million in two actual property developments in New York’s Chelsea and Meatpacking Districts via J Resorts. Sadly, the tasks died amid the 2008 monetary disaster, leaving Jay‑Z embroiled in authorized disputes together with his lenders. He reportedly misplaced most of his funding and was pressured to exit the offers at a big loss. Regardless of his entrepreneurial instincts, the timing and financing of the mission proved disastrous. It stays a high-profile lesson in actual property dangers for even essentially the most formidable celeb traders.
3. Selena Gomez’s Postcard App That Didn’t Take Off
Picture Supply: YouTube/CBS Sunday Morning
In 2011, Selena Gomez invested $750,000 in Postcard on the Run, an app pitched on Shark Tank that permit customers ship printable postcards. Regardless of preliminary buzz, the app by no means gained traction and was discontinued by 2015. Gomez reportedly misplaced her total funding when the enterprise didn’t scale. Whereas she’s since rebounded with profitable model partnerships, this stays certainly one of her lesser-known regrets in enterprise. For a lot of followers, it’s a reminder that even star energy can’t assure success in tech startups.
4. Justin Timberlake’s MySpace Acquisition Gone Bitter
Picture Supply: YouTube/The Tonight Present Starring Jimmy Fallon
In 2011, Justin Timberlake and a companion agency paid $35 million to accumulate MySpaceas soon as the main social community. Years later, MySpace’s energetic consumer rely had dwindled to almost zero, and Timberlake reportedly bought his stake for simply $1 in 2015. The platform had change into irrelevant within the face of Fb and Instagram dominance. The deal turned an embarrassing footnote in his in any other case savvy enterprise profession. It’s change into one of the vital mentioned instances of celeb regrets about enterprise funding in tech.
5. Robert de Niro’s Expensive Artwork Rip-off
Picture Supply: YouTube/The Tonight Present Starring Jimmy Fallon
Legendary actor Robert de Niro invested roughly $600,000 with artwork seller Tod Michael Volpe, trusting him to handle a group. As a substitute, Volpe bought items and even a shared Aston Martin with out informing de Niro or paying him. The rip-off price him each cash and belief within the artwork world. Volpe was ultimately convicted for defrauding de Niro and others out of tens of millions.
A Smarter Strategy to Make investments: What Celebrities Want They’d Identified
If stars may return, most would vet their offers extra totally, diversify their portfolios, and keep away from placing all their eggs in a single basket. Having a trusted monetary advisor, structuring investments via protections like LLCs, and conducting third-party audits can forestall many pitfalls. Scaling regularly somewhat than sinking tens of millions in a single go can be a safer route. And by no means underestimate the significance of authorized counsel—contracts matter. Whether or not you’re investing tens of millions or saving pennies, these celeb regrets enterprise funding tales underscore the worth of warning.
Have you ever ever backed a enterprise that didn’t pan out—or heard the same celeb flop story? Share your expertise or what you realized within the feedback under!
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The submit 5 Celebrities Who Remorse the Enterprise They Invested In appeared first on Plunged in Debt.
