They are beautiful and talented, people envy and admire them at the same time. They say that talented person is talented in everything. But is it? We believe that success comes to celebrities, always and everywhere? But this is not always true. We know a lot of celebrities who opened their restaurants and night-clubs, clothing lines and perfumes. Although, some of our favorite icons are not so successful when it comes to investments.
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Here are a few celebrities whose investments might have been a bad business choice.
Being as successful as he is in touring, apparel and more, Jay-Z is not so good in the business area. In 2007 Jay-Z planned to develop a 150,000-square-foot luxury hotel, so he purchased a property in the Chelsea neighborhood of NYC. But in 2008 the recession got high and the funds got low. Jay Z’s company reportedly defaulted on the $52 million dollar loan and the matter was taken to court, where the issue was resolved privately at the end of 2010 and Jay Z moved on to other business investments.