Celebrities have the power to influence millions. Whether it’s Elon Musk tweeting about DOGE coin or Akon launching his new crypto AKOIN – we’re hooked! So, what financial instruments do celebrities like to trade? Let’s take a look.
We Love It to the Moon and Back!
Elon Musk, a long-time proponent of cryptocurrencies, sent bitcoin prices surging through the roof when his EV company Tesla bought $1.5 billion worth of the crypto earlier this year. And now we’re seeing dogecoin skyrocketing. After all, the billionaire business magnet just announced “DOGE-1 Mission to the Moon” – SpaceX using the once obscure crypto to fund its lunar expedition slated for the first quarter of next year.
While terming dogecoin as “the future of currency” and calling it “an unstoppable financial vehicle that’s going to take over the world,” Musk shared this video starring Snoop Dogg!
Another celeb making a financial statement was Katy Perry with her crypto inspired nails. In her Instagram post that’s captioned “$—CrYpTo ClAwS—$,” Katy Perry sports some eye-catching fingernails. Her nails are embossed with the symbols of some of the most popular cryptocurrencies out there.
Naturally enough, we see Bitcoin taking centre stage on one hand. Her thumbs boast the popular Ethereum cryptocurrency, and her remaining digits feature the likes of Litecoin, Stellar, and Monero.
And then there was 50 Cent. The hip hop artist is one of the few famous Bitcoin millionaires in his time. The rapper, rather known as Curtis James Jackson, was one of the many artists who accepted Bitcoin as a form of payment back in 2014 when BTC was only around $304-$457.
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Top Tip: Don’t forget to consider other commodities like oil, coffee, soybeans to broaden your portfolio.
Feel Like A Million Bucks!
Speaking of commodities, we couldn’t help but mention Michelle Williams. Known for choosing dark and tragic roles, Michelle may not have won an Academy Award, despite being nominated four times. But she’s won the World Cup Championship of Futures Trading. It must run in her genes, being the daughter of Larry Williams who converted $10,000 to over $1,000,000 (yes, a million dollars!) in just 12 months trading forex.
Lee DeWyze, winner of the 9th season of American Idol, stole people’s hearts (and their votes) with his background story of being a paint store clerk. However, he had another job that not many people know about. And did he see some action! DeWyze was on the floor of the Chicago Mercantile Exchange (as a broker’s assistant) during the financial crisis of 2007 and 2008. We could ask him a thing or two about trading out of a slump, now that the market is fast recovering from the pandemic hit. Anyone who has heard DeWyze sing Everybody Hurts would find it difficult to imagine him shouting out numbers on the trading floor for EUR/USD futures.
Top Tip: Anybody can learn to trade. Most new traders begin with the forex market – the world largest financial market with a daily trading volume of $5 billion. If you’re just about starting out, don’t forget to practice before you begin your exciting journey as a trader with 360 Capital.
Taking Stock of the Situation
Celebs don’t just endorse brands; they like to invest in them as well. Serena Williams claimed to be the most boring spender ever in an interview with People magazine. She founded Serena Ventures in 2014, which currently has over 50 portfolio companies with a combined market cap of $14 billion. One of her investments includes the Noom app, a weight loss app designed by psychologists.
One of Forbes 100’s richest women in showbiz in 2020, Beyoncé, is the co-owner of Tidal, a global music streaming platform owned by artists. Jack Dorsey’s financial services company Square recently settled a deal with the popstar and her rapper husband, Jay Z, paying $350 million for 80% stake in the company.
Content queen Oprah Winfrey is securing the future of food in developing nations, with her investment in Apeel Sciences. Way back in 2015, she invested $43 million in WeightWatchers that left her with a whopping $427 million, when share price rose from $4 per share to $101 per share.
For more than 10 years, star of That ‘70s Show, Ashton Kutcher has been investing in small companies that have gone on to become huge. This includes UBER, Soundcloud, Shazam, Spotify and AirBnB. In fact, his co-star and wife, Mila Kunis, recently revealed that she had advised him against investing in UBER and Bitcoin. He must be so glad he didn’t listen to her on this one!
Another star who took a leaf out of Ashton’s book is Jared Leto, who put his money into a number of great companies in their early stages like UBER, Airbnb, Zenefits and DocuSign.
Top Tip: If you’re interested in tech stocks, Nasdaq 100 and S&P 500 could be some indices apt for you. These tech-heavy indices list some of the largest technology companies in the US, based on market cap. Notable names include Facebook, Tesla, Google and Microsoft. Also, both these indices have seen the most fun days in 2020 and continue to soar in 2021 as well.
Investments as Slick as the Movies
Celebrities are no Warren Buffet, but some of them have the foresight to invest in start-ups that align with their strategies. Of course, you might not want to be Iron Man and invest in a vegan start-up that makes bacon from mycelium, as Robert Downey Jr. did. Is that why they killed him in Avengers: Endgame? But, you can take a leaf out the real genie’s book and invest in healthcare. Will Smith did that when he invested in med-tech companies Genome Medical and Nurx.
Celebrity trades are all about diversification. So, if you want to trade like the stars, make sure you spread your risks across as many asset classes as possible. Even celebs with income worth millions understand the unpredictable nature of the markets and manage risks. Shouldn’t you?
Which celebrity inspires you the most to trade? Let us know your thoughts on Twitter at @360CapitalLtd