The advice to “follow your passion” is likely easier to do if you’re a Hollywood A-lister. This is certainly true for actor-director George Clooney who’s in a CNBC report for selling his tequila business for $1 billion. His tequila brand, Casamigos, meaning “house of friends,” was bought by British multinational liquor company Diageo.
Clooney and two close friends did not really set out to establish a tequila business. They were simply passionate about tequila. They were spending a lot of time in Mexico while building their vacation homes and drinking a lot of tequila.
Eventually, they thought of creating their own tequila distilled to their specifications: great taste, no throat burn, and can be consumed day and night without the morning after hangover. They found a distiller who was willing to make it; the final product was “perfect” by their standards. Initially, it was a private label that they consumed for themselves and share with friends.
After enjoying about a thousand bottles of the stuff per year for a few years, the distiller warned them that they needed to get a license or else regulators would come after them. And so, the billion-dollar business was born.
Other stars have done the same. Actress Jessica Alba is noted for building The Honest Company, which specializes in selling all-natural, non-toxic baby and household products. It also reached the billion-dollar mark. Rapper Dr. Dre, who’s passionate about creating the best listening experience, came up with the Beats brand of headphones. It’s become a pop icon, and Apple bought the company and brand for $3.2 billion.
Forbes reported that music power couple Jay-Z and Beyonce are together worth more than a billion dollars. Not only are they hugely successful musical acts, with world tours earning hundreds of millions, they’re also savvy entrepreneurs. Beyonce’s clothing line and watermelon water business, plus Jay-Z’s ventures into music streaming and a clothing brand earned them spots in Fortune’s and Forbes’ richest lists.
Audax, a Low-Risk ESG Company According to Morningstar Sustainalytics ESG Rating
In summary, Audax has demonstrated its leadership in sustainability and ESG performance by earning an "ESG Low-Risk Company" rating from...
VR Bank Bamberg-Forchheim Celebrates Seven Successful Crowdfunding Projects
The VR Bank Bamberg-Forchheim eG not only initiates and maintains the online platform, but also acts as a donor. Because...
Alarming Campaign Absenteeism Jeopardizes Bill Regulating Recreational Cannabis in Colombia
The bill regulating recreational cannabis must pass a total of eight debates, divided into first and second rounds: four and...
CNBV Calls for Unity in the Mexican Fintech Sector to Drive its Development
The fintech sector is made up of 650 identified firms, according to the latest Fintech Radar Mexico 2023 published by...
Jazz Pharmaceuticals’ Leukemia Drug Receives European Commission Approval
Jazz Pharmaceuticals is a biopharmaceutical company dedicated to the development of drugs in neuroscience and oncology. Founded in 2003 in...
Business1 week ago
Use This AI-Powered Money Saving App to Boost Your Finances
Crowdfunding2 weeks ago
Real Estate Crowdfunding Has Raised Over €45 Billion Worldwide
Markets4 days ago
Markets Heated Up This Past Week as Guidance from the Fed Was Bearish
Crowdfunding2 weeks ago
Out Of Raises €2.4 Million Through Equity Crowdfunding, in 2 Weeks