For instance, basketball legend Michael Jordan became an active entrepreneur involved with many sports-related ventures including investing a minority stake in the Charlotte Bobcats, Paul Newman started his own salad dressing business after leaving behind a distinguished acting career, and rap musician Birdman started his own record label, clothing line, and an oil business while maintaining a career as a rap artist.
Brazilian football legend and World Cup winner Ronaldo became the majority owner of La Liga club Real Valladolid in 2018.
Other celebrities such as Tyler Perry, George Lucas, and Steven Spielberg have become successful entrepreneurs through starting their own film production companies and running their own movie studios beyond their traditional activities of screenwriting, directing, animating, producing, and acting.
Numerous celebrities have ventured into becoming business moguls and established themselves as entrepreneurs, idolizing many well known American business leaders such as Bill Gates and Warren Buffett.
Actors sometimes alternate between theater, television, and film or even branch into other occupations within the entertainment industry such as becoming a singer, comedian, producer, or a television host in order to be monetarily diversified, as doing one gig pays comparatively very little.