Business Storyteller - Richard Branson

Growing up I always heard about the services and products that “Virgin” had to offer such as Virgin Atlantic Airways and Virgin records, but never knew much about the company or the mastermind behind this multi billion-dollar Empire, Richard Branson. Before watching Branson’s interview on TED, I did not know much about Branson’s story nor did I look at him as an inspirational role model. Branson’s empire consists of over 400 companies and 55 thousand employees, which he started from the bottom.  In many ways Branson and I are alike, growing up Branson was dyslexic and had trouble grasping subjects that he was not interested in and was more of a visual learner. Branson is a maverick, he is not a follower, and he is very independent and knows what he wants to do unlike many people who just go along with the rest of the group. As a child, I also had a learning disability and I still do but I have learned to over come it. Most believe that when entering college it is supposed to be harder then high school but it was actually the opposite for me. When I went to college, I had the option to learn what I wanted to learn and things that interested me, which made the learning experience exciting for me. Branson believes that if you can run one company you can run any company. it is this way of thinking that has earned Virgin a total revenue of $25 billion.

Richard Branson is an inspirational figure to me because he is a Greene type leader, someone with morals and willing to help others. Branson believes that growing as a company is about finding the right people and inspiring them to strive for more. One story Branson told during his interview on TED was when Virgin Records and Virgin Atlantic Airways was having large financial problems and instead of laying of his employees he sold his family’s jewelry just so that he could keep everyone employed and also keep the companies running. Branson is also trying to make the world a better place by cleaning our atmosphere of hazardous elements. Additionally, Branson is helping people with diseases by giving free medication a treatment in Africa. These are just a few examples that show how much he actually cares for others and his willingness to go out of his way to help.

http://www.ted.com/talks/richard_branson_s_life_at_30_000_feet?language=en#t-1776130

Has any Hip-Hop Artist become a billionaire?

Lately many people have been saying that Dr. Dre has recently become a billionaire and I have been second-guessing this since there has not been much news on this topic on TV or the Internet. For those of you who do not know, back in 2008 Dr. Dre and Jimmy Iovine, The chairman at Interscope Records founded Beats Electronics and in August of 2011, Dr. Dre and Jimmy Iovine sold 50 percent share of their company to HTC for $309 million. Later Dr. Dre and Jimmy Iovine bought back 25 percent of HTC’s stake for $150 million, making Dr. Dre and Jimmy Iovine 75 percent owners of beats. Carlyle group later bought HTC’s 25 percent stake and also bought 25 percent from Dr. Dre and Jimmy Iovine giving Carlyle group 50 percent owner ship and Dr. Dre and Jimmy Iovine both ending up with 25% each.

As many of you have heard, Apple recently bought Beats for $3 billion. Because of this deal, people are assuming that that Dr. Dre has become not only Hip-Hops first billionaire but a multi billionaire. Lets not forget That Dr. Dre only owns 25 percent of the company so his cut of the deal was only $750 million before taxes, which is still a lot but not a billion. Out of this $750 million roughly 33 percent will go to taxes, that about $250 million, actually leaving him with a little over $500 million out of the $3 billion. If Dr. Dre were never part owner of Beats by Dre, his net worth would only be $200 million due to 3 decades of selling music, producing music, selling merchandise and touring.

Therefore, no Hip-Hop artist has actually become Hip-Hops first billionaire, but Dr. Dre comes closest to it with a net worth of just over $700 million. Maybe in the next few years we will see if any Hip-hop Artist will become Hip-Hops first billionaire.

Hip-Hops's Wealthiest Artist's

Many People think that successful celebrities in the entertainment industry are successful and very wealthy because of what they are most known for doing, such as being an actress, actor, rapper, singer, or athlete, but in reality, the wealthiest people in the entertainment industry are those who have invested their money in other business ventures.

Today’s post is about famous celebrities in the music industry and how they really became so wealthy. Lets start out with Sean “Diddy” Combs the CEO and founder of bad boy records, This man is Hip-Hop’s wealthiest artist according to Forbes with a net worth of a about $580 million. Although Combs was already a wealthy man from bad boy records, in 2007 Diddy signed a deal with Diageo’s Ciroc (Other products from Diageo you might be familiar with are Johnnie Walker, Captain Morgan and Smirnoff). The Deal stated that if Combs represented the brand, he was entitled to eight-figure annual payouts and if Ciroc were ever to be sold, Combs would receive a nine-figure payout. After Combs agreed to be Ciroc’s brand ambassador Ciroc’s sales went from selling 40,000 thousand cases a year to selling 2.1 million cases as of 2012. Other business ventures Combs has that have contributed to his wealth are his clothing lines Sean John and Enyce, and his marketing firm Blue Flame.

Another Successful Artist in the music industry and Hip-hops second wealthiest man is Jay Z. According to Forbs magazine Jay Z’s Net worth as of 2014 is $520 Million. Just like Combs, it was not just his music that has made him so wealthy, but having other business ventures such as his clothing line Rocawear that he sold in 2007 for $204 million, also a deal he made with Live Nation in 2008 for $150 million. Jay Z also owns a percentage of the Jersey Nets and the list goes on.

According to Forbes.com, “It's only a matter of time before one of hip-hop's richest becomes a member of the Forbes 400. “

Fun fact of the day: Jay Z and Beyoncé’s combined net worth is almost $1 Billion and according to www.ibtimes.com Jay z and Beyoncé’s divorce could cost upwards of $1 billion