Celebrity Net Worth: Beyonce backs Lemon Perfect in $31m funding round

In our fortnightly celebrity investment and wealth round-up, Leonardo DiCaprio invests in a UK vegan burger brand and Kevin Hart banks $100m from an equity sale in his new venture

Destiny's Child, featuring Kelly Rowland, LaTavia Roberson, Beyonce Knowles and LeToya Luckett, at the Soul Train Awards in Los Angeles, California, on September 3, 1998. Getty Images

Destiny's Child, in contrasting denim, in Los Angeles, California, on February 21, 2000. Getty Images

Destiny's Child, in neutral hues, at the 42nd annual Grammy Awards in California on February 23, 2000. Getty Images

Beyonce, in leather trousers, and jazz guitarist Chris Spencer pose at the Black Sports Agents Association press conference on May 9, 2000 in Beverly Hills, California. Getty Images

Destiny's Child, in lemon dresses, arrive at the Soul Train Lady of Soul Awards on September 2, 2000, in Santa Monica, California. Getty Images

Destiny's Child, in leather ensembles, arrive at the MTV Video Music Awards held at Radio City Music Hall on September 7, 2000. Getty Images

Michelle Williams, Beyonce and Kelly Rowland, in all black separates, at the 43rd annual Grammy nominations press conference on January 3, 2001 in Beverly Hills, California. Getty Images

Destiny's Child, in flamboyant prints, at the 28th annual American Music Awards at the Shrine Auditorium in Los Angeles, California, on January 8, 2001. Getty Images

Beyonce, in scarlet sequins, attends the 58th annual Golden Globe Awards held at the Beverly Hills Hotel on January 21, 2001 in Beverly Hills, California. Getty Images

Destiny's Child, in khakis, at Nickelodeon's 14th annual Kid's Choice Awards on April 21, 2001 in Santa Monica, California. Getty Images

Beyonce, in a floral midi, arrives at the premiere of 'Charlies Angels: Full Throttle' at the Odeon Cinema on July 1, 2003 in London. Getty Images

Beyonce, in orange strapless velour, leaves Radio 1 on July 4, 2003 in London. Getty Images

Beyonce, in fur-trimmed leather, attends the MTV Europe Music Awards at Ocean Terminal on November 6, 2003 in Edinburgh, Scotland. Getty Images

Beyonce, in pink ruffles, at the MTV Europe Music Awards at Ocean Terminal on November 6, 2003 in Edinburgh, Scotland. Getty Images

Beyonce, in a classic LBD, attends 'The Fighting Temptations' premiere at The Empire Leicester Square on November 12, 2003 in London. Getty Images

Beyonce, in a corseted gown, attends a VH1 party at the Universal Ampitheatre on November 20, 2003, in Los Angeles. EPA

Beyonce, in a pink mini, arrives at the French NRJ Music Awards ceremony at the Palais des Festivals on January 24, 2004 in Cannes, France. Getty Images

Beyonce, in a golden gown, arrives at the Brit Awards at Earls Court on February 17, 2004 in London. Getty Images

Beyonce, in cornflower blue satin, attends a party to unveil the new Tommy Hilfiger women's fragrance at The Albion Riverside on June 21, 2004 in London. Getty Images

Beyonce, in a gilded shorts suit, arrives at the MTV Video Music Awards at the American Airlines Arena in Miami, Florida, on August 29, 2004. EPA

Destiny's Child, in jeans and very Noughties boots, promote their new album 'Destiny Fulfilled' at Hotel Palace on November 10, 2004 in Madrid, Spain. Getty Images

Beyonce, in jeans and a checked blazer, attends a press conference on November 30, 2004 in Tokyo, Japan. Getty Images

Beyonce, in Versace, arrives at the 77th Academy Awards at the Kodak Theatre in Hollywood on February 27, 2005. EPA

Beyonce, in a tangerine mini, attends the premiere of the new Pepsi advert at Circulo de Belles Artes on February 23, 2005 in Madrid, Spain. Getty Images

Beyonce, in a floral midi, attends the opening of Samantha Thavasa's flagship shop on April 17, 2005 in Tokyo, Japan. Getty Images

Beyonce, in House of Dereon, attends the 'Dreamgirls' premiere at the Martinez Hotel during the 59th international Cannes Film Festival on May 19, 2006 in Cannes, France. Getty Images

Beyonce, in Armani, arrives at the Emporio Armani show at Earls Court as part of London Fashion Week on September 21, 2006 in London, England. Getty Images

Beyonce, in a lace-panelled midi, at the UK Music Hall Of Fame at Alexandra Palace on November 14, 2006 in London, England. Getty Images

Beyonce, in Elie Saab, at the 49th annual Grammy Awards in Los Angeles on February 11, 2007. EPA

Beyonce, in Armani Prive, arrives for the 79th annual Academy Awards at the Kodak Theatre in Hollywood, California, on February 25, 2007. EPA

Beyonce, in jeans, arrives at Incheon Airport on November 8, 2007, in Seoul, South Korea. Getty Images

Beyonce, in Elie Saab, arrives at the 50th annual Grammy Awards at the Staples Centre in Los Angeles, California, on February 10, 2008. EPA

Beyonce, in Gareth Pugh, arrives for the MTV Europe Music Awards, held at the Echo Arena on November 6, 2008 in Liverpool, England. Getty Images

Beyonce, in a voluminous black gown, attends the 40 Principales Awards at Palacio de los Deportes on December 12, 2008 in Madrid, Spain. Getty Images

Beyonce, in House of Dereon, arrives at the 81st Academy Awards at the Kodak Theatre in Hollywood, California, on February 22, 2009. EPA

Beyonce, in a sculpted mini, and Solange Knowles at Tokyo Disneyland Hotel on August 10, 2009 in Chiba, Japan. Getty Images

Beyonce, in Versace, arrives for the MTV Europe Music Awards held at the O2 Arena on November 5, 2009 in Berlin, Germany. Getty Images

Beyonce, wearing Stephane Rolland, arrives at the 52nd annual Grammy Awards at the Staples Centre in Los Angeles, California, on January 31, 2010. EPA

Beyonce, in Pucci, arrives at the Met Gala in New York on May 2, 2011. EPA

Beyonce, in Lanvin, arrives at the MTV Video Music Awards at the Nokia Theatre in Los Angeles, California, on August 28, 2011. EPA

Beyonce, in House of Dereon, at the launch of House of Dereon by Beyonce and Tina Knowles at Selfridges on September 17, 2011 in London, England. Getty Images

Beyonce, in Givenchy, arrives at the Met Gala in New York on May 7, 2012. EPA

Beyonce, in Osman, arrives at the 55th annual Grammy Awards in Los Angeles, California, on February 10, 2013. EPA

Beyonce, in Givenchy, attends the Met Gala in New York on May 6, 2013. EPA

Salma Hayek Pinault, Frida Giannini and Beyonce, in Gucci, at the Chime For Change: The Sound of Change Live concert at Twickenham Stadium on June 1, 2013 in London, England. Getty Images

Beyonce, in Michael Costello, at the 56th annual Grammy Awards at the Staples Centre in Los Angeles, California, on January 26, 2014. EPA

Beyonce, in Givenchy, arrives at the Met Gala in New York on May 5, 2014. EPA

Beyonce, in Zuhair Murad, arrives at the 31st MTV Video Music Awards at The Forum in Inglewood, California, on August 24, 2014. EPA

Beyonce, in Proenza, arrives at the 57th annual Grammy Awards held at the Staples Centre in Los Angeles, California, on February 8, 2015. EPA

Beyonce, in Givenchy, arrives at the Met Gala in New York on May 2, 2016. EPA

Beyonce, in Peter Dundas, at the 59th annual Grammy Awards ceremony at the Staples Centre in Los Angeles, California, on February 12, 2017. EPA

Beyonce, in Francesco Scognamiglio, arrives at the 33rd MTV Video Music Awards at Madison Square Garden in New York on August 28, 2016. EPA

Beyonce, in cobalt suiting, attends game six of the NBA Finals between the Cleveland Cavaliers and the Golden State Warriors at Quicken Loans Arena on June 16, 2016 in Cleveland, Ohio. Getty Images

Beyonce, in all white, attends the NBA Western Conference Semifinals basketball game at the Oracle Arena in Oakland, California, on April 28, 2018. EPA

Beyonce, in Alexander McQueen, attends the 'The Lion King' premiere at the Dolby Theatre in Hollywood, California, on July 9, 2019. EPA

Beyonce, in Nguyen Cong Tri, attends the premiere of Disney's 'The Lion King' at Odeon Luxe Leicester Square on July 14, 2019 in London, England. Getty Images

Beyonce

Lemonade singer Beyonce invested in a citrus-based beverage last week. The award-winning artist and entrepreneur headlined a recent $31 million Series A funding round in enhanced water brand Lemon Perfect, the company said.

“I don’t typically enjoy drinks without added sugar, but Lemon Perfect is delicious,” said Beyonce. “It was an easy decision to invest in something that not only tastes great and is healthy but also and, most importantly, allows choosing a healthier lifestyle to be affordable and accessible to everyone.”

The beverage has no sugar, artificial flavours or sweeteners.

Lemon Perfect will use the funds to help scale the brand to more than 40,000 points of distribution by the end of the year, founder and chief executive Yanni Hufnagel said.

The financing takes the brand’s total funding to $42.2m, with a valuation of more than $100m less than three years since the sale of its first bottle.

The singer was joined by a network of investors across the food and beverage, media, music, sports and entertainment industries.

Beyonce, 40, has a net worth of $440m, as calculated by Forbes magazine, which features her on its list of America’s self-made women. The 28-time Grammy winner is one of the world’s best-selling recording artists with digital and album sales estimated in excess of 200 million.

Although she has made her name with music, Beyonce is also a businesswoman and investor. Following her first endorsement deal with Pepsi in 2002, she signed agreements with L’Oréal, Samsung, Ford and American Express.

In 2009, she signed a perfume deal worth up to $20m with the global beauty brand Coty and has since released several fragrances, including the core brands Heat, Pulse and Rise.

Although House of Dereon, the fashion line she founded with her mother Tina Lawson, was a commercial failure, Beyonce subsequently partnered with TopShop and later Adidas on the athleisure line Ivy Park.

In 2018, the singer signed a $60m, three-project deal with Netflix. Her company, Parkwood Entertainment, produces music, movies and apparel.

Beyonce and her husband, rapper and entrepreneur Jay-Z, were pop music’s first billionaire couple, with Forbes last year estimating their combined worth at $1.8 billion. The pair perform together and have joint investments. Together, they grossed a total of $264m from their two On the Run tours in 2014 and 2018.

Beyonce has previously taken the unusual step of receiving payment in company equity. In lieu of a performance at an Uber corporate event in 2015, she reportedly asked for $6m worth of restricted stock units in the ride-sharing company.

Lemon Perfect is Beyonce’s second investment in enhanced water after she participated in a seed round for watermelon-flavoured beverage WTRMLN WTR in 2016. Her other investments include the concert merchandise app Sidestep.

Last month, she joined Rihanna in an all-female group of investors into Paris-based accessories brand Destree. Co-founder Géraldine Guyot told WWD the round’s investors include venture capital firm Sequoia Capital China, at the behest of Angelica Cheung, as well as Reese Witherspoon, Gisele Bündchen and Gabriela Hearst.

Ms Guyot expects to launch her first free-standing Destree boutique in Paris this June. She also hopes to expand her current network of e-store and wholesale partners into China, Japan and the Middle East.

Beyonce was among the first big celebrities to carry a Destree bag during New York Fashion Week in February.

Leonardo DiCaprio

Actor and environmentalist Leonardo DiCaprio has added to his portfolio of meat alternatives with investments in vegan burger chain Neat Food and cultivated leather start-up VitroLabs.

DiCaprio joined Neat as a strategic investor as the London-headquartered company embarks on an ambitious global expansion into the US and the Middle East.

“Disrupting our food system with sustainable alternatives is one of the key ways we can make a real difference in reducing global emissions,” he said. “Neat Burger’s pioneering approach to alternative proteins is a great example of the type of solutions we need moving forward.”

Neat is a vertically integrated food technology company with a restaurant and alternative proteins consumer packaged goods (CPG) business. Its vegan burgers are dairy, egg, gluten and GMO-free.

Established in 2019, the brand has an aggressive target of 1,000 units by 2030 globally. It is launching in the Middle East, Italy and the US this year, with corporate-owned online and offline restaurants and franchise partnerships.

The company expects to have 42 sites by the end of the year, including 12 in the US, growing to 231 by the end of 2024.

Neat has simultaneously launched a Series B funding round, primarily with US investors, to fund its growth plans and underpin its new product development and CPG pipeline. It completed a $7m funding round in October, led by SoftBank’s Rajeev Misra.

Formula One driver Lewis Hamilton was an early backer, alongside Beyond Meat’s Tommaso Chiabra and Cirque le Soir nightclub impresario Ryan Bishti.

DiCaprio’s investments span 18 portfolio companies, according to investor intelligence site Crunchbase. These include Aleph Farms and Mosa Meat, two early cultivated meat start-ups, as well as start-ups in recycling, cultivated diamonds and technology.

Earlier this month, he joined a $46m Series A funding round into VitroLabs. Led by venture capital company Agronomics, the round included investments from luxury fashion maker Kering, which owns Gucci, Bottega Veneta, Alexander McQueen and Yves Saint Laurent, and Khosla Ventures, the early stage technology investment firm owned by Sun Microsystems founder Vinod Khosla.

Founded in 2016, Vitrolabs will use the capital to build and scale the world’s first pilot production of cell-cultivated leather and to fast-track commercialisation. The global leather industry is estimated to be worth $400bn.

DiCaprio is thought to have a net worth estimated between $280m and $300m. Besides investments in alternatives to meat and meat products, he is also a property investor.

Kevin Hart

Comedian Kevin Hart is laughing all the way to the bank after a recent merger and investment in his media company.

In April, the stand-up comedian and Hollywood actor launched media company HARTBEAT with a $100m investment from private equity company Abry Partners.

Abry’s minority stake is estimated at 15 per cent, The Wall Street Journal reported. The company is valued at more than $650m.

The new venture has been created by merging Hart’s existing entertainment businesses — TV and film production company HartBeat Productions and the sales and distribution network Laugh Out Loud.

The entertainer will serve as chairman of HARTBEAT, while Thai Randolph, who has held senior executive positions at both businesses, will be its chief executive.

Nicolas Massard, a partner at Abry, will join the company’s board, while NBCUniversal's streaming service Peacock will remain a shareholder, the company said.

HARTBEAT has more than 60 projects with 15 entertainment partners in various stages of development or production. It has strategic partnerships with Peacock, Netflix and Audible, among others.

“The creation of HARTBEAT and our capital raise with Abry represent a new era in comedy. This all started out with a mission to keep the world laughing together and I’m so proud our teams have delivered on that, putting in the hard work to build the most innovative and inclusive comedic storytelling company,” Hart said.

“With this merger and funding, we’re taking the new blueprint we’ve built in entertainment to the next level and creating opportunities for a new generation of comedic talent. I can’t wait to bring the world more comedians, experiences, and stories with humour and heart.”

Hart’s movies have earned more than $3.3bn. He is the star of films such as Jumanji: Welcome to the Jungle, Ride Along and The Upside.

Hart, 42, has also put out music under the name Chocolate Droppa and endorsed brands such as the retailer Macy’s. He revealed last year he has partnered with Yas Island.

The new deal will see his net worth increase to an estimated $400m, according to wealth tracking website Celebrity Net Worth. As one of the world’s highest-earning comedians, Hart took home $39m in 2019, Forbes magazine reported.

Thomas Müller

Bayern Munich forward Thomas Müller is the latest celebrity to back vegan meat products, with an investment in food technology start-up Greenforce, the company said.

He joins several prominent local investors in the company since the end of last year, following the successful placement of a capital increase of €15m ($15.92m). The investments will go towards research and development and business growth.

“I’m excited to become part of the Greenforce success story,” Müller said.

“Greenforce gives each of us the opportunity to make our nutrition more sustainable, healthier and yet incredibly delicious. My involvement is to help Greenforce become a leader in this future-oriented market as quickly as possible.”

The size of his investment was not disclosed.

Also last week, the German national player agreed to a two-year extension of his contract with Bayern Munich to the summer of 2024, the club confirmed.

The 32 year old is one of the club’s best-paid players, with an annual salary of up to €20m. He has been with Bayern since the age of 10.

Müller’s net worth is estimated at $55m, according to Celebrity Net Worth.