All of the Top Five Highest-Paid Celebrities Are Under 45, Annual Forbes List Shows
Many people aspire to gradually acquire wealth through the years and hope to have an amount that allows them to live comfortably when they reach the later stages of life. But, for celebrities, raking in the riches doesn’t take nearly as long as it typically does for everyday individuals.
Image by PixLoger from Pixabay
Forbes recently released its list of the highest-paid celebrities based on annual earnings. One striking thing about all the people in the top five rankings is that they’re under the age of 45. Taylor Swift, Kayne West, and Ed Sheeran make up three of those coveted spots, and they’re primarily musicians. Then, Kylie Jenner and soccer star Lionel Messi complete the group of people in the top five.
Some people understandably wonder which factors help celebrities become so rich while they’re still young. There’s no magic formula that gets results in every case, of course. However, certain aspects can make it especially likely for stars to profit.
Endorsements Can Help Celebrities Increase Their Earnings
The name recognition that celebrities enjoy makes some people especially willing to trust what they say, and more specifically, use the products they recommend. That means superstars frequently get approached by companies and asked to endorse particular products, brands, or services.
Often, there are coordinated marketing campaigns accompanying those endorsements, all of which boost a company’s sales and pad a celebrity’s wallet. If people want to get an idea of how diverse these products can be, they only need to consider the actress Sofia Vergara. Diet Pepsi and AT&T are among the brands she endorses, but Vergara also has her name associated with Synthroid, a medication prescribed to people with abnormal thyroid gland functionality.
Assuming Award Show Hosting Duties Also Gives a Financial Boost
The Academy Awards and the Emmys are examples of events that celebrate achievements in film and TV. The organizers often ask celebrities to host the festivities. Choosing to do so can also help their earnings, but not by as much as some people might expect.
For example, late-night talk show host Jimmy Kimmel got $15,000 as an Oscars host. That’s reportedly the minimum amount a host can earn according to the Screen Actors Guild (SAG) guidelines.
Celebrities Get Paid Per Performance
When a celebrity stars in a movie or a TV show, their earnings usually depend on the success of that endeavor as well as the running time of the work. For example, people can take a celebrity salary quiz to learn how much money a star earns per minute. The amount earned for a film star goes up with the running time of the film. And, if people star in multiple TV shows in a given year, analysts combine the total broadcasting time for all shows to calculate the earnings.
Athletes usually get paid for every game played. Variations also occur depending on whether the result is a win or a loss. Musicians who play concerts for their fans have extremely detailed recording contracts that dictate the terms of many things, including the percentage they earn from each concert that happens during a tour.
After reading this overview, people probably won’t feel so surprised by young celebrities’ earning power. Most of today’s stars have experienced teams supporting them. That makes it easier for them to seize the most lucrative opportunities.
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