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- ⏳ Not all celebs become billionaires — Time Billionaires #002
⏳ Not all celebs become billionaires — Time Billionaires #002
Hey Time Billionaire — Aadit here.
Today’s issue covers:
How celebs become billionaires
C.L.O.S.E.R — sales framework
103 bits of advice from Kevin Kelly (don’t miss this)
Last week, I got a ton of responses, feedback and love to the email. I really appreciate it!
It’s a problem because it takes me a while to respond to everyone via email but I guess it’s a good problem to have!
Anyway, let’s get into it!
How Celebrities Build Their Wealth:
This is usually the life-cycle of a celebrity:
Work really hard
Get kinda lucky (get picked amongst thousands of other talented people)
Keep working hard and enjoy the fame
Next stage:
a) Live a satisfying life.
b) Lose it all
c) Build a business on top of your brand
Option B is not as uncommon as you’d think. Every now and then you hear a story of an actor, athlete or some famous person losing everything they have shortly after making it big.
But let’s flip the question on the head.
But what do the wealthiest do?
LeBron, Rihanna, Ronaldo, Kanye (aka Ye), Jay-Z, Beyonce. What are they doing differently?
Apart from being just going with the one-name thing, they’re also smart business people — they build businesses on top of their brands.
LeBron James: $300M stake in SpringHill Production company which is an entertainment company that produced the 2021 Space Jam film (starring LeBron) and earned roughly $163M
Rihanna: $1.4B of her earnings came from Fenty Beauty (her cosmetics brand). Her lingerie company is worth $270M.
Kanye West: He owns 100% of Yeezy brand which makes about $150-200M/year.
My friend Barrett wrote a thread on Kanye’s genius move:
C.L.O.S.E.R Sales Framework
I used to be awful at sales.
Over time, I got better thanks to one simple framework.
It helped me a ton, so I figured I'd share it.
I hope you find it valuable:
— Alex Hormozi (@AlexHormozi)
10:00 PM • Jun 15, 2022
Alex Hormozi is a legit follow. Started from nothing. Him and his partner, Leila, run a portfolio of companies doing $100M/year. Now sharing the stories and lessons on social. He’s all over my Youtube, Twitter and I don’t use Instagram but I’m sure there too.
He shared a sales framework that you want to check out if you do any sort of marketing or selling (and who doesn’t these days).
Even if you want to understand who are your customers, it’s useful. Check it out!
103 Bits of Advice
Kevin Kelly just turned 70 years old. If you don’t know who’s Kevin Kelly (aka KK), he was founding executive editor at Wired (30m reads per month now). Now he’s known for his writing and blog.
He shared 103 bits of life advice.
I’ll share my favorite quotes:
About 99% of the time, the right time is right now.
Too many people delay stuff. You’re either going to do it now, or delay forever.
Speak confidently as if you are right, but listen carefully as if you are wrong.
But also know what you’re talking about — Aadit
Take the stairs.
Fitness advice from the 70-year-old. Legendary.
It’s thrilling to be extremely polite to rude strangers.
I love this.
Actual great opportunities do not have “Great Opportunities” in the subject line.
If it seems too good to be true, it probably is.
If you loan someone $20 and you never see them again because they are avoiding paying you back, that makes it worth $20.
Damn, this is deep.
Those are some of my favorites! If you want to read others, here is the full blog post:
That’s it for this week. This has been super fun. Thanks for reading.
See you next Tuesday — Aadit