Madonna in Forbes’ Celebrity Payday list for 2007
Forbes magazine has compiled the Top 20 paydays of 2007 for the entertainment industry, with four performers – 50 Cent, Jay-Z, Sammy Hagar and Madonna – making the list together with one music executive, David Geffen.
50 Cent won paydirt when beverage Vitaminwater was bought by Coca-Cola for $4.1 billion. Instead of taking a cash payment for endorsing the product, Fiddy took shares in the company. When Coke cashed in, Fiddy cashed out, to the tune of $100 million.
Jay-Z banked $82 million in a single day when his clothing label Rocawear was sold to Iconix Brand Group for $204 million.
Sammy Hagar added $80 million to his bank account when he sold 80% of his tequila company Cabo Wabo to Gruppo Campari.
Madonna became $43 million richer in one day this year when she signed with Live Nation. After a career with Warner Music, the autograph of material girl at the end of the Live Nation contract grabbed her instant $18 million signing bonus plus $25 million in stock. She will then receive a $17 million advance on each of the next three albums she records for Live Nation.
Record industry mogul David Geffen picked up his $37.5 million booty when he sold his Manhattan penthouse. He bought it one year earlier for $31 million.
The biggest entertainment payday of the year however went to George Lucas, who took in a $200 million check from Hasbro, the toy company licensing Star Wars toys and action figures directly from Lucas.
Based on an article by Paul Cashmere, Undercover.com.au.