Some people believe that famous people make much more money in comparison with other specialists. In this essay, I will highlight the reasons why I agree with the given statement.
One of the main reasons is advertising big brand names. To clarify, big companies offer large sums for the promotion of their products and services by celebrities. Thanks to the development of the internet, advertisements are mostly shown on social media in the form of posts, reels or stories, each of which comes with its own price. Instagram can be a good case in point. The well-known such as athletes, singers or actors earn far more money by advertising than they do in their own sphere. For instance, Cristiano Ronaldo, a world renowned football player with more than 600 million followers on instagram, makes about $90 million annually which is five times higher than his yearly salary in football.
Another reason may be the enhancement of one’s own brand. In other words, having become a famous figure, people often try to promote their own personal brand. They may offer a variety of services or they may start producing a wide range of goods, whose sales are usually successful due to their owners’ popularity. The majority of celebrities take advantage of this, as a result, makes a fortune. Mr. Beast, the founder of the biggest YouTube channel, can serve as a great example. Last year, he started manufacturing chocolate with the brand name “Mr. Beast chocolates”, which turned out to be an instant success. Over one million bars of it was sold just in a month, which brought a huge financial benefit to Mr. Beast.
However, being a famous public figure does not necessarily mean that this person is rich. There are a few cases when people started their career with a great success, however, they lost all of their money and fame later in life. Ronaldinho, the world champion in 2005, was arrested due to avoiding paying taxes, after which he went through financial difficulties for the rest of his life.
In conclusion, fame usually brings wealth to people. Notwithstanding, there are some well-known people with no money.