Musician, Actor, Millionaire: X Ways In Which Justin Timberlake Became A Business Wizard
Justin Timberlake expanded his horizon beyond music by investments that turned him into a business wizard.
As a child actor starring in The Mickey Mouse Club House at the age of eleven, Justin Timberlake has been well acquainted with the spotlight from an early age. From a lovable child actor to teen sensation to charming actor and singer, Timberlake has checked off every category on the list. His successful acting and singing careers have helped him establish a hefty net worth for himself. Ever since his career took off, Timberlake has been making investments in various side businesses to keep his money growing. Other than his musical chops, Timberlake has made a few non-music deals over the last few years.
From spirit drinks to apparel, Timberlake covered every base on his way to reach his $230 million net worth. Most of his investments are a nod to his hometown of Memphis, Tennessee, which is acutely mentioned through his brand promotions. Versatile in every way, let’s see the various smart business investments made by Justin Timberlake.
6 William Rast
In 2005, Justin Timberlake co-founded the company William Rast with his childhood best friend, Trace Ayala. The name of the brand is an amalgamation of William Bomar and John Rast, their grandfathers. It motivated them to launch timeless looks. Their fashion line mainly sold casual denim looks with rugged accessories. Timberlake took inspiration from Jerry Lee Lewis, Johnny Cash, Elvis Presley, and Frank Sinatra. As mentioned by Forbes, Justin’s entrepreneurial label had a $50 million turnover every year until 2012. The All-American label entered a denim partnership with Sequential Brands Group Inc. in 2021.
5 Tennman Records
Tennman Records is Justin Timberlake’s joint venture with Interscope Records that was launched in 2007. The name Tennman comes from Justin’s Tennessee roots, where he was born and brought up. Justin being the Founder, appointed the former A+R Vice President of Sony Music Entertainment, Ken Komisar, as the President of Tennman Records. After a few months, he signed a few lucky musicians for his records, including Matt Morris, FreSol, and Brenda Radney. Interscope Records is one of the largest record labels globally and has an estimated net worth of $600 million. The label makes $200 million yearly, out of which some of the percentages come from Timberlake’s Tennman Records.
4 Souza 901 Tequila
The agave-based spirits drinks competition has heated up over recent years as celebrities have entered the tequila market. Justin Timberlake came early on when he launched 901 Tequila in 2009. Timberlake named the brand after his home area code in Memphis, Tennessee, as a nod to his roots, as stated by Difford’s Guide. He is partnered with Kevin Ruder, who also works as the President of the tequila brand. In 2014, Beam, a Suntory Holdings subsidiary, purchased a large stake in the business and renamed it Souza 901 Tequila. The cost of one Souza 901 Tequila is $36.82, while the parent company Beam has a $3.1 billion revenue.
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3 Mirimichi Golf Course
Along with his family, Justin Timberlake purchased the Mirimichi Golf Course located in his hometown of Memphis, Tennessee. He invested $16 million to renovate the course and create an eco-friendly layout. Mirimichi Golf Course was announced as the Best Courses You Can Play by Golfweek in 2013 and 2014. Being an avid golfer, Timberlake was quite active as an investor and hosted the Children’s Open for Shriners Hospital between 2008 and 2012. However, in 2014, he sold the golf course to Fred Edmiston, a Memphis-based businessman, for a price of just $500,000.
2 Memphis Grizzlies
Timberlake is a part-owner of Memphis Grizzlies, the NBA team. He is one of the several part-owners in the team with an investment he made in 2014. He decided to purchase a stake after Robert Pera. A tech entrepreneur bought the NBA team for $377 million. Timberlake purchased a stake via Tennman Sports LLC, his investment group. According to Cheat Sheet, he put $5 million as an investment with a 2.84% stake. The money investment turned lucrative as his current stake is worth $36.9 million. He is an active supporter of the team and promotes them on his social media handles, and makes appearances during their games.
1 Acting And Music Career
One of Justin Timberlake’s consistent aspects has been his role as an actor and musician. Timberlake has had a successful music career which began with his popular music band NSYNC. His debut album earned him $10 million, while the second album earned him $15 million. Timberlake earned more from his tours. His collaborated tour with Christina Aguilera earned him $45 million, while his solo Future Sex/Love Show tour garnered him $127.8 million, as noted by Money Inc. He is one of the few talented musicians who have worked in highly successful films over the years, including the Oscar-nominated movie The Social Network, which grossed $224.9 million, and The Bad Teacher made $216.2 million. His latest show Palmer was released in December 2020 and was produced by Apple TV.
His other investments include a flavored water company Bai where he was appointed as a spokesperson and face of the marketing campaign that had a $100 million budget. Justin Timberlake has truly mastered the art of smart investments with his various endorsements and deals. With his sprawling career, he shall surely make many more intelligent investments in the future.
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Source: Forbes, Difford’s Guide, Cheat Sheet, Money Inc
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