A recent study conducted by Spectrem’s Millionaire Corner finds that High Net Worth Millennials credit much of their success to the same attributes and contributing factors cited by Gen Xers, Baby Boomers and seniors.
The A-listers on Forbes’ annual list of the highest earning celebs under 30 belie the usual raps against Millennials that stereotype them as slackers with a sense of entitlement, coddled and under-qualified, winy with unreasonable expectations, looking for the fast-track to fame and fortune. Not this game-changing bunch. They have achieved their success “old school.”
A recent study conducted by Spectrem’s Millionaire Corner finds that High Net Worth Millennials credit their success to the same attributes and contributing factors cited by Gen Xers, Baby Boomers and seniors:
Whether or not you consider yourself a fan, there is no denying that Lady Gaga ($80 million), Justin Bieber (58 million), Taylor Swift ($55 million), Calvin Harris ($46 million), Rhianna ($43 million), Katy Perry ($39 million), Adele ($30 million), Jennifer Lawrence ($26 million), Kristen Stewart ($22 million) and Taylor Lautner ($22 million), who comprise the 30 under 30 Top 10, 10 names atop the 30 under 30 rankings, work hard for the money. Calvin Harris, a singer-songwriter, DJ and producer, has played more than 150 shows in the 12 months since June 1, 2012, Forbes reports.
In addition to his sold-out tours and chart-topping recordings, Justin Bieber has invested in startups such as Enflick, Tinychat and Spotify.
This is another factor that can apply to all atop the Forbes’ list. With the success of The Hunger Games, Jennifer Lawrence could have followed a career path of big budget blockbusters or safe romantic comedies. Instead, she went with a challenging, smaller film, The Silver Linings Playbook and earned an Oscar for her efforts. Taylor Swift’s last album risked alienating her core base of country music fans. “Red,” released last October, sold more than a million copies in its first week. And the chameleonesque Lady Gaga is all about risk.
Luck/Being in the right place at the right time
Taylor Lautner was cast in Twilight.
Not all of the High Net Worth Millennials in the Forbes Top 10 are following a traditional path. While a significant majority of wealthy Millennials (as well as previous generations) surveyed by Millionaire Corner give high marks to education as a factor in their success, none of the top five on the Forbes list finished college.
Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.
A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.