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Top 10 Celebrity Entrepreneurs

There's No Business Like ... Business!

Talent. Ability. Smarts. Many of the same traits that define Hollywood's hottest also define stars of the entrepreneurial world. So it makes perfect sense when the two ambitions collide.

 

Mind you, we're not talking about celebrities who merely slap their names on a product or get paid big bucks to endorse a brand. We're referring to -- and highlighting -- famous actors, actresses, singers, TV personalities, athletes, and models who have founded their own companies. Sometimes more than one.

Despite their cushy bank accounts, which would undoubtedly take the sting out of a less-than-profitable venture, these 10 celebrity entrepreneurs should be recognized not only for their business success, but in some cases for their philanthropy as well. We "everyday entrepreneurs" would be hard-pressed not to feel inspired.

Sandra Bullock: Bess Bistro / Bessence

Academy Award winner and tabloid scandal victim Sandra Bullock's acting career has been on speed since the 1990s, but all along she has groomed her entrepreneurial skills in a slew of business ventures. For example, Bullock co-founded the privately held Fortis Films in the mid-1990s, which has produced a handful of movies Bullock has starred in, as well as ABC's The George Lopez Show.

A decade later, Bullock -- No. 8 on Forbes' 2010 list of 100 most powerful people in entertainment -- opened the eco-friendly Austin, Texas-based Bess Bistro, for which she was involved in "Everything: the decor, the menu. It's been an organic family affair," said executive chef Brenton Childs.

Bullock's line of soy candles, Bessence, is sold in the restaurant's shop, plus she later opened Walton's Fancy and Staple, which is part deli, cafe, bakery, florist, and events-planning service. "I wanted a place that was communal, like the olden days," Bullock told Harper's Bazaar.

Andrew Shue: CafeMom.com

Memories of his habitually shirtless alter-ego Billy Campbell aside, Andrew Shue, star of the '90s hit TV series Melrose Place, has stayed decidedly behind the screen -- the computer screen.

Shue is co-founder of CafeMom.com, a four-year-old social networking site ranked among comScore's top 50 Web properties, Forbes' top 100 sites for women, and Business Insider's 100 most valuable startups (which values the privately held company at $150 million).

"I became a dad, and I saw firsthand how moms rule the universe. That's No. 1. And No. 2 is how much moms count on each other," Shue told "Good Morning America" last year. "CafeMom is all about moms serving each other."

Shue also is co-founder of nonprofit youth leadership organization Do Something, which helps match teens to volunteer opportunities.

Pat Boone: All-American Meats

He's the '50s pop star with boyish good looks and a fan base that once rivaled Elvis Presley's, but these days Pat Boone has a meaty stake in a startup business. Crediting a love for family, food, and great steaks, Boone recently co-founded and launched Pat Boone All-American Meats, which sells a line of U.S.-raised beef products, from top sirloins to porterhouses.

Paul Newman entrepreneurial comparisons aside -- which "suit me just fine," Boone told NPR last year -- the 76-year-old former Chevrolet pitchman has earmarked a percentage of sales to charities that fight world hunger.

J.W. Roth, co-founder/co-chairman of the holding company that owns Pat Boone All-American Meats, projects $14 million to $15 million in sales the first year, and $32 million to $33 million in the second.

Stacy London: Style For Hire

Famous for ransacking closets of the fashion-challenged on the TLC show "What Not to Wear", Stacy London is now channeling her fashion flair into a personal styling company she co-founded called Style for Hire.

Style for Hire provides a network of fashion stylists trained and certified to help clients reinvent their look. Its business model? The company receives an agency fee per booking, charges for its training, and gets a cut of the profits from retailers that offer discounts to Style for Hire customers.

Stylists and their services began limited to the Washington, D.C., area, but are expanding to New York City and will be "moving quickly to other metropolitan areas," according to the company's website.

London graduated with a philosophy degree from Vassar. She began her career in the magazine world, first as a fashion assistant at Vogue and later as senior fashion editor at Mademoiselle.

Magic Johnson: Magic Johnson Enterprises

He shoots! He scores! NBA legend Earvin "Magic" Johnson, the twice-retired legendary point guard for the L.A. Lakers, has also been making magic off the courts as chairman and CEO of Magic Johnson Enterprises.

Founded in 1987, the privately held MJE focuses on developing businesses in ethnically diverse urban areas. "You need to play to your strengths," Johnson told USA Today. "My strength is urban America." His company either owns, partners with, or invests in well-known companies across the county, including 24 Hour Fitness, T.G.I. Friday's, and, up until October, Starbucks.

In 1991, Johnson -- who is HIV positive -- also founded the Magic Johnson Foundation, a nonprofit public charity that funds HIV/AIDS education and prevention programs, provides college scholarships for minority students, and other community-based initiatives. "Doing business and giving back really go hand in hand. It's the best way to truly create a win-win situation for everyone," Johnson says on his website.

Sammy Hagar: Cabo Wabo

Sammy Hagar, whose music career dates back to the late 1960s and includes stints with Montrose and Van Halen, has more up his "Red Rocker" sleeve than just jamming out. The singer/guitarist/composer has been an entrepreneur since the '80s as founder of Cabo Wabo Enterprises, whose multimillion-dollar portfolio comprises a group of Cabo Wabo Cantina restaurants and nightclubs in the U.S. and Mexico. The company is also known for its premium line of 110-proof Cabo Wabo tequila, which Hagar created and ultimately sold off for $91 million.

One more way to describe 63-year-old Hagar: philanthropist. All proceeds from another set of restaurants he owns, Sammy's Beach Bar & Grill restaurants, go to families in need. "It became my mission to try to help two families a year in each city where I have a Beach Bar & Grill. I give every penny from it to the community," Hagar told a pop culture website last year.

Bill Rancic: Motivational Speaker

Though technically an entrepreneur with an online cigar company before becoming a celebrity, Bill Rancic's business career really took off post-2004 after he won season 1 of Donald Trump's "The Apprentice" reality TV show. "I learned a lot from Trump. I'm very grateful for the opportunity that he gave me," said Rancic in an interview.

Born and raised in Chicago, Rancic's entrepreneurial spirit first became apparent when he was 10 and created a "makeshift restaurant" at his grandmother's house. Fast-forward about 30 years, following his "Apprentice" victory and three years working for the Donald, and Rancic has yet to rest on his laurels: He's now an author, motivational speaker, TV host (including an A&E show aimed at entrepreneurs and small businesses), real estate developer, and co-founder of a television production company. "But I'm an entrepreneur first," he told CBS 8 Las Vegas last year.

Lyle Waggoner: Star Waggons

Lyle Waggoner, the dashingly handsome actor whose trail of shows includes "The Carol Burnett Show" and "Wonder Woman", put Hollywood on the back burner in 1979. That's when Playgirl's first centerfold model founded Star Waggons, which leases custom-made trailers to the entertainment industry for on-location work for movies and TV shows.

These days the privately held company boasts a fleet of nearly 500 vehicles and a staff of more than 65, according to Star Waggon's website. "I saw an opening, a void, and I filled it," Waggoner told the Los Angeles Times, which cites Universal Studios, Paramount Pictures, Columbia Pictures, and Warner Brothers as customers. In that same article, Waggoner said he had had no prior business experience, and attributed his early success to a strong entrepreneurial spirit.

Kathy Ireland: Kathy Ireland Worldwide

With her self-named brand product marketing company, Kathy Ireland has shown the business world that she's much more than just a babe in a bikini.

With families -- and moms, in particular -- in mind, in 1993 Ireland founded Kathy Ireland Worldwide, for which she is CEO and chief designer. The company sells more than 15,000 products globally, including home furnishings and decor, clothes, wedding attire, and jewelry. "Doing publicity stuff -- interviews, photo shoots -- is probably my least favorite part of my job. But I am the face of the company, so I understand why it is important," says Ireland, whose favorite part of the job is product design.

Annual revenue estimates place Kathy Ireland Worldwide in the $1.5 billion range. Last year License Global Magazine ranked the company No. 28 among the top 125 global licensors.

Paul Newman: Newman's Own

A celebrity-turned-entrepreneur collection could never be complete without the inclusion of the late Paul Newman. The iconic movie star, who acted in more than 65 movies during his 50-year-plus, Academy Award-winning career, founded Newman's Own in 1982 with pal A.E. Hotchner after his homemade salad dressing became a hit among friends. The company's offerings have grown to include spaghetti sauce, salsa, popcorn, marinades, and more -- always with the purpose to donate all proceeds to charities. To date, the amount contributed has surpassed $300 million.

One of the programs Newman's Own contributes to is The Hole in the Wall Gang Camp, a nonprofit organization Newman founded in 1988 for children diagnosed with serious illnesses. "Like the grain of sand in the oyster, it just grew, and for us, these camps are indeed the pearls," Newman and Hotchner wrote in their 2003 book Shameless Exploitation in Pursuit of the Common Good. In 2006 Newman also opened a restaurant in his hometown of Westport, Conn., with chef Michel Nischan. Newman passed away two years later. Newman's daughter, Nell, now runs the company, which also includes an organics division.

Wireless Business Solution Zee Tawasha