In the world of entertainment, it is not always about what the entertainer or athlete does for his or her profession (i.e. rap, sing, professional athlete, etc), it is about their brand. The biggest way an entertainer or athlete maintains their brand is through smart power moves, consistency and longevity.
When names like Michael Jordan, LeBron James, and Jay-Z are brought into conversations, most people note and recognize how business savvy they are on top of their accolades in their respective fields. . Moguls like them take their childhood dream and expand it to a reality that they never thought was possible.
Let’s examine the success of Sean “Diddy” Combs. After doing only a semester at Howard, he interned with Uptown records and a few years later started his label Bad Boy.
Being behind the success of stars such as The Notorious B.I.G., Lil’ Kim, Faith Evans, and Ma$e, Diddy has always known how to make money. In the prime of Bad Boy records, he created his clothing line, Sean John.
This not only changed Hip-Hop culture forever in terms of rappers getting involved with fashion, but with the company averaging retail sales of $525 million, it made Diddy a household name in the Fortune 500 world. Diddy’s clothing line success also allowed him to put his face on items like Ciroc.
Before Diddy agreed to be an ambassador for Ciroc, the company only sold 40,000 cases. After the “Diddy effect,” there has been a significant increase of over 2.1 million cases of Ciroc.
Diddy is one of many moguls in today’s world who has achieved the American dream by starting with nothing and achieving something.
Earvin “Magic” Johnson is another example of using his initial platform and expanding his brand to unimaginable heights.
The Hall of Fame basketball player could do it all, winning 5 NBA championships in 13 seasons solidifying him as one the greatest players in NBA history. Although HIV/AIDS changed his life forever, he never let it stop him.
The fact that he is part owner of the LA Dodgers and has numerous restaurants and movie theaters across the country proves he has done quite well. His company, Magic Johnson Enterprises, is worth a staggering $700 million, which has partnerships with MasterCard, ESPN, and Fathead.
Johnson is an example of a successful athlete using their stardom and capitalizing on it. These moguls have created so many avenues to make money that it is mind-boggling.
From Jay-Z’s color, Jay-Z Blue, to Diddy designing the Dallas Mavericks’ alternative jerseys, there are tons of African American’s that have taken their talent and made the most of it. Jay-Z said it best, “I’m not a businessman. I’m a business man.”
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- Jerrell Leeper, Register Reporter