Photos: Black Celeb Entrepreneurs
Take a look at the celebrity entrepreneurs making noise.
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50 Cent - Curtis James Jackson, aka, 50 Cent, is not only a multi-platinum rapper, but an astute businessman. Since 2003 when he founded G-Unit Records, 50 Cent has gone on to earn a lot more than two quarters. He's partnered with shoemaker Reebok and designer Mark Ecko to release his own G-Unit sneakers and clothing company. And, when Coca Cola spent $4.1 billion to buy Glaceau Vitamin Water, 50 Cent, who owned 10 percent of the company, hit the jackpot with a whopping $400 million profit.
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Jay Z - He may have come from a "hardknock life," but now he's called the richest hip-hop entertainer of all time with an estimated net-worth of $600 million. Shawn Corey Carter, known as Jay Z, as president and CEO of Def Jam Recordings and Roc-A-Fella Records for over a decade, made the company's name synonimous with a hot clothing line, films including "Fade to Black" and "State Property" and a Reebok sneaker line. Now, he's branched out as co-owner of The 40/40 Club chain.
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Magic Johnson - Earvin "Magic" Johnson, after retiring from the L. A. Lakers in the 1990s, created an estimated $700 million dollar portfolio by joining another elite team: successful African American business owners. He gave up his jersey for a shirt and tie, and in 1994 became a part owner of his Lakers. He also became CEO of his own companies, the Magic Johnson Enterprises and Magic Johnson Theaters, a nationwide chain of movie theaters and other enerprises in other ignored urban communities.
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Mellody Hobson - When it comes to educating the Black community about the importance of financial investing, there are few better than Mellody Hobson. Hobson is the president of Ariel Capital Management, LLC, a Chicago investment firm managing over $14 billion in assets. She Chairs the Board of Trustees of Ariel Mutual Funds and reps the annual Ariel/Schwab Black Investor Survey. Other credits include board director for the Starbucks, Estée Lauder and Dreamworks Animation.
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Sean P. Diddy Combs - Besides being a music master, Sean P. Diddy Combs boasts a reputation as a savvy businessman for his entrepreneurial endeavors, including: his clothing line, his Blue Flame advertising company, his MTV reality show "Making the Band," an upscale restaurant chain, and branches of Bad Boy Entertainment. Combs has gone from rap producer to the toast of New York Fashion Week. In fact, his clothing line, Sean Jean, has been nominated for top honors for the past six years.
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