Jennifer Lopez already wears many hats — as an actor, a singer and entrepreneur. But now, she has signed an agreement to take on a double role as an investor and chief entertainment and lifestyle officer for Virgin Voyages, the cruise line founded by British billionaire Richard Branson.
The size of Lopez’s investment has not been disclosed.
The collaboration was announced via a YouTube video that features Mr Branson and Lopez on a FaceTime call.
The travel company, formerly called Virgin Cruises, said the move aims to redefine the nautical tradition of appointing a godmother from a ceremonial role to a modern, partnership with one of the world’s most powerful artists that will help shape the future of travel.
Lopez will work with Branson and Virgin Voyages to promote sailor well-being, while designing collaborations and entertainment throughout 2022. The partnership sets sail with the introduction of JLo Beauty products as part of the company’s on-board offerings, the first time the brand will be retailed on the high seas.
On Lopez’s behalf, the company is also offering $200 in on-board credit to travellers who make new bookings until March 31.
“My artistic and social mission is to empower, inspire and entertain,” Lopez said. “Any opportunity that I get to combine all these attributes into a partnership and collaboration is exciting for me.
“I admire Sir Richard and all he has built. I am inspired by Virgin Voyages’ dedication to creating irresistible experiences and focus on well-being, which all fits perfectly with my own lifestyle and brand ethos.”
After launching operations with an adults-only cruise ship last year, Virgin Voyages recently debuted a second ship to leverage what is hoped will be a summer cruising boom as pandemic restrictions ease. A third ship is planned to enter service in August.
Lopez, 52, has an estimated net worth of $400 million, according to wealth tracking website Celebrity Net Worth.
Her fortune is almost entirely self-made.
A significant portion comes from eight studio albums and supporting tours and residencies over a two-decade career. Her 2019 It’s My Party world tour took in $68.4m from 33 performances, including stops in Egypt, Israel and Russia.
Movie and television work, including production credits, account for another chunk of Lopez’s earnings.
In 1997, she became the first Latin actress to earn more than $1m for a film, for her work on the biopic of Tejano singer Selena. Last month, Lopez’s newest film, Marry Me, became the most-streamed movie on US service Peacock. It has grossed $47m worldwide. Lopez’s Nuyorican Productions produced the film.
But the American Idol guest judge also pulls in millions of dollars annually from endorsements for brands such as fashion labels Versace, Guess and cosmetics company L’Oreal.
In addition, she has her own business ventures. In 2020, Lopez partnered with discount shoe chain DSW. She has created more than two dozen fragrances and the latest, One, hit stores recently.
Lopez also has a sizeable real estate portfolio that includes properties in Miami, Los Angeles and New York City.
As an investor, Lopez has a stake in seven companies, mostly alongside her former fiancé, baseball player Alex Rodriguez aka A-Rod.
These include Super Coffee, Quay Australia sunglasses, the Fitplan fitness app, FinTech company Acorns and yoga start-up Sarva. Their share of the wellness company Hims & Hers is thought to have earned them as much as $79m when it went public in January last year.
In 2020, Lopez and Rodriguez lost out on buying the New York Mets baseball franchise. The couple put in $300m of their own money as part of a group of investors bidding $1.7 billion for the team. They lost out to hedge fund manager Steve Cohen.
Rodriguez also made news last week after he and his business partner, Marc Lore, announced their support for a new company called Mojo. It aims to create a “stock market” for professional athletes, where fans can buy and sell players at specific values based on their on-field performances.
Sara Ali Khan
Bollywood actor Sara Ali Khan has invested an undisclosed amount in casual apparel brand The Souled Store (TSS).
Ali Khan, 26, is also endorsing a new garment line for the primarily online retailer. She said the store, which has 180 licences, including Disney, Warner Bros, WWE and IPL, has carved a niche for itself in the casual wear space within a short period of time.
“Being an ardent pop-culture lover, and a firm believer in originality and comfort being as important as fashion, I see the brand as a perfect fit to invest in. I look forward to being part of the TSS family,” she said.
The start-up raised 750m Indian rupees ($9.7m) in a Series B funding round led by Elevation Capital last August.
Ali Khan is reported to have a net worth of between $3m and $5m, according to Indian media.
Her income stems from her earnings as an actor and from endorsement deals. She is reported to earn 20m Indian rupees per film. Separately, Ali Khan has deals with brands such as Fanta, Puma, Veet and Garnier.
Actor, producer and businessman Mark Wahlberg has added the P448 sneaker brand to his equity portfolio with a significant minority investment, owner StreetTrend said last week.
“I am excited to be a part of such a unique brand that fits my personal style and cares about sustainability. StreetTrend chief executive Wayne Kulkin is a passionate and knowledgeable sneakerhead, and I look forward to being part of this project,” Wahlberg said in a statement.
Wahlberg has more than half a dozen business ventures and brand investments. These include Municipal clothing line, Wahlburgers restaurant chain and his film production company, Unrealistic Ideas.
Last year, the former rapper saw an estimated $200m return on his investment into the F45 fitness chain after the company went public in July.
The 50-year-old Boogie Nights star has a net worth estimated at $300m.
Although the woolly mammoth has been extinct for 4,000 years, Dallas-based Colossal Laboratories and Biosciences believes reintroducing the prehistoric animal to the Arctic tundra will help reverse degradation of the ecosystem and biodiversity loss.
The heiress participated in a $60m funding round last week alongside businessman and Jurassic World executive producer Thomas Tull, founder and former chief executive of Legendary Entertainment.
Colossal launched in September with $15m in seed funding. Among its previous investors are bestselling author Tony Robbins and crypto evangelists Cameron and Tyler Winklevoss of Winklevoss Capital.
Hilton, 41, has a net worth of about $300m. The original famous-for-being-famous celebrity has amassed her fortune from a range of retail businesses, including more than 50 stores and 19 international fragrances and other product lines that have generated over $4bn in sales.