BUSINESS MINDED (BLACK CELEBRITIES)
Lionel Richie graduated from Tuskegee Institute with a degree in Business and he put it to good use. Richie is considerably wealthy, his fortune is estimated at $250 million dollars. He owns the publishing rights to some of the Commodore's songs, he also owns the publishing to his solo hits as well as hits by Kenny Rodgers, most of these songs are standards (including Endless Love which he also wrote) and Richie gets paid each time one of these songs is covered by another artist or played on any radio station in the world, he also receives songwriting royalties and he co-wrote the biggest selling single in history, "We Are The World." Richie also owns prime real estate on "Rodeo Drive" and he has a stock portfolio and he's connected to Royalty (Royal family in Dubai) he was partly responsible for the release of Dallas Austin. Richie has also performed for General Khadafi, in his home and he makes six figures per performance, overseas.
Ray Parker, Jr. may have had a few hits under his belt (Ghostbusters, I'm In Love With The Other Woman) but he made the majority of his fortune through session work, songwriting and producing. While he was a senior in high school, he was a top session guitarist. He was the only high school senior who drove a Mercedes to school. He used his session money to invest with and he came out a winner. By age 24, he was set for life financially. He is now married and the father of four sons and he will continue to receive publishing and songwriting royalties throughout his life span.
Not too many Motown artists came out on top like Diana Ross despite the fact she never wrote nor produced any of her hits. People may say, hey, she was Berry Gordy's woman and he made sure she was taken care of financially. I don't know if this is true but I do know this, Ross has managed to maintain her money throughout all these years, she has never had money problems and she never will. Her money is well invested and she has resided in a Beverly Hills mansion and she now lives on a Connecticut estate. When her ex-billionaire husband died in a mountain climbing accident, she received a big chunk of his estate because he never remarried. People have had problems with Ross over the years but I have met her on several occasions and I never once had a problem with her. As I reported before, I had a photo of her she had never seen, she asked to borrow it one weekend, to have it copied, when she returned it to me, it was autographed. It has always been rumored that she takes 'milk baths' and has a special European milk flown in to her each month. This may be true, because in person, the texture of her skin is flawless.
Flip Wilson wanted to stay on top of his financial situation. He enrolled in night school and took business courses. He lived off the interest of his money and invested a portion of the principal. This situation allowed him to live quite comfortable until his death in 1998.
Despite the fact Freda Payne has only had two hit records (Bring The Boys Home and Band Of Gold) her entire career. She has always lived in a mansion and drives a new Mercedes each year. Payne never wrote nor produced any of her songs yet she has lived this type of lifestyle since she arrived in Hollywood. Her sister Sherry lives a similar lifestyle. It's rumored that they have good investments.