Hollywood comes of age on under-40 rich list
A ‘‘rich list’’ of under forties in the US published today features some of the biggest names in showbusiness.
Sean ‘‘P Diddy’’ Combs and actors Tom Cruise and Jim Carrey rub shoulders with electronics billionaires in the Fortune magazine list of the 40 richest Americans under 40.
Golfer Tiger Woods, 25, scraped into the list at number 40 as its youngest member with a net worth of £110.7m - but is predicted to climb up the list as he rakes in lucrative endorsements.
Last year’s list had just one star name, basketball player Michael Jordan, but this year Hollywood stars have made onto the table.
Topping the list was Michael Dell, the 36-year-old founder of Dell computing, who was estimated to be worth £11.7bn.
And the richest Hollywood name was Tom Cruise, 39, at number 18 whose career fortune was estimated at £173.4m, although that figure could take a hit when he agrees a settlement with ex-wife Nicole Kidman.
Behind him is Combs, 31, who has cashed in on the fame his multi-million selling records have brought him with a clothing line, a chain of restaurants, recording label and sideline as a producer.
The rap mogul was estimated to be worth £159.7m, putting him at 22nd on the list.
Combs told the magazine: ‘‘I watched too many other entertainers create something through their own hard work only to see someone else profit from it.
‘‘I decided to figure out how to do what someone else was going to do with my name and my brand anyway. Not just to make money for myself, but to build a lasting enterprise. I pride myself on being one of the greatest businessmen out there.’’
Comedian Carrey, 39, was 36th on the list, with the magazine putting his net worth at £118m.
Celebrity marketing expert Rick Burton, director of the Warsaw Sports Marketing Centre at the University of Oregon, said the last 25 years had seen celebrities turn themselves into businesses.
He told the magazine: ‘‘Twenty-five years ago, a star athlete or entertainer may have been a very well-paid employee.
‘‘Today they are businesses unto themselves. And their advisers have been shrewd enough to see that their trick ponies were not merely employees but corporations.’’
The list has 12 single men, including newly-divorced Tom Cruise and unattached Combs, as well as one single woman, 39-year-old communications executive Jeannette Symons, who is worth £258.4 million.
The some Hollywood, sporting and pop music big names failed to make into the list.
Among them were Oscar-winner Julia Roberts - with an £92.3m estimated fortune, tennis ace Andre Agassi and basketball star Shaquille O’Neal.
Britney Spears was predicted to be a fixture in the list within a few years. She is currently estimated to be worth £31.7m.
Last year the list was dominated by dot-com millionaires, but as the Internet bubble burst, their fortunes plummeted.
Last year, the average fortune in the list was £1.3bn, but this year it had dropped to £645.6m.
