The Celebrity Multi-Family Office
While it’s presumptuous to speculate on any of these folks’ relationship with God, it isn’t unreasonable to suggest that their stories illustrate the difficulty of reconciling celebrity status with Christian virtue. This is especially true in the world of pop music, and even more true when we’re talking about people who became celebrities when they weren’t even old enough to legally sign a contract. Someone who understands this all too well is Billy Ray Cyrus, Miley’s dad. Five years ago, he believed his family’s Christian faith would protect them from the temptations of celebrity. Well, it didn’t turn out that way. And so in 2011, he told GQ magazine that he deeply regrets the decision to let his daughter became a child celebrity. He says that the decision “destroyed [his] family,” and if he could, he’d “take it back in a second.” Well sadly, he can’t. But his honesty can serve as a warning to other Christian parents whose children dream of being celebrities. You may think you’re the exception and that somehow being a celebrity will “glorify” God. Don’t fool yourself. It could hardly be otherwise. What Jesus said about the dangers of wealth is just as true about celebrity in our postmodern age, and for most of the same reasons: It distorts our sense of self, both in relationship to others and to God. And that’s before we take into account the hyper-sexualized nature of most of pop culture. So the best advice I can give Christian parents is, to paraphrase Willie Nelson, “mama, don’t let your babies grow up to be pop stars.” Now, I’m not saying that we shouldn’t encourage their interest in creative endeavors such as music, theater, and the visual arts.
Of course, the staff must be expert at overseeing the integration of investment management, advanced planning, private investment banking, business strategy, and related support services. While most high-profile successes appear to have a charmed life, there is usually an intense back-story filled with frustrations and anxieties that cannot be overlooked. Even when they have achieved levels of fame and fortune long sought in our culture, most celebrities find their status has its drawbacks. Were all familiar with the stories about bankruptcy and overspending in show business, says Hannah Shaw Grove, executive editor of Private Wealth magazine and principal of the boutique consultancy HSGrove . Most entertainers and celebrities have a limited window in which they can earn consistently high incomes, so they need a strong team of professionals around them to help protect and leverage their assets into something greater. Athletes dont fare much better. Every move an athlete makes is observed, analyzed, and frequently second-guessed by coaches, managers, teammates, fans, and members of the press. Since a great number of people and organizations, such as sports federations and commercial sponsors, rely on winning athletes to generate revenue, its understandable that most athletes feel the pressure and are afraid of failure. Celebrities seeking a financial advisory relationship are increasingly attracted to the multi-family office model, which integrates select core aspects of a business managers job with a broad array of financial and legal expertise. According to Miguel Forbes , vice chairman of the Forbes Family Trust, Successful entertainers and athletes are turning to multi-family offices, who can help them navigate their financial worlds and are nimble enough to offer business strategy and support services specific to them. Celebrity multi-family offices offer a broad array of expertise, including advanced planning, which is a suite of cutting-edge services that help wealthy individuals and families structure their assets to be as tax-effective and secure as possible. According to Frank Seneco, president of Seneco & Associates , The ability of entertainers, for example, to leverage their loan-out corporations can prove extremely profitable. Advisors in multi-family offices can also offer business strategy and support, handling licensing agreements or business ventures with the celebrities names attached and helping them capitalize on their success to generate significant monies. All too often, less knowledgeable advisors will let celebrities not well versed in these areas dive into business deals with a very limited chance of success. When celebrities call on advisors to develop a business model, it means the advisors must go beyond the role of a traditional multi-family office, business manager, or management consultant, because theyre tackling the clients financial and tax issues all along the way, explains Flynn. The celebrity multi-family office offers two critical advantages to successful entertainers and athletes.
Celebrity Chef to Host World Food Championships
Guitarist Charlotte Caffey of The Go-Gos is 60. Actress Carrie Fisher is 57. Singer Julian Cope is 56. Guitarist Steve Lukather of Toto is 56. Singer-bassist Nick Oliveri (Queens of the Stone Age) is 42. Keyboardist Charlie Lowell of Jars of Clay is 40. Actor Jeremy Miller (Growing Pains) is 37. Actor Will Estes is 35. Actor Michael McMillian (True Blood) is 35. Reality TV star Kim Kardashian is 33. Actor Matt Dallas is 31. Looking for things to do? Select one or more criteria to search Kid-friendly Get ideas Oct.
7, at Pizza Rock on the newly developed 3rd Street Promenade in downtown Las Vegas. The following morning, Vaughn will be volunteering his time (and his recipes) at “The Gourmet Soup Kitchen” event at the Las Vegas Rescue Mission on West Bonanza Road where he’ll be making and serving gourmet soup directly for the homeless. Lastly, Vaughn will be the guest of honor at the magazine’s launch party in conjunction with the “Back of the House Brawl” at Tommy Rocker’s Saturday, Nov. 9, starting at 10 p.m. About Ben Vaughn Vaughn might be most notably known for wrangling snakes from dining rooms and chasing rats from cellars while hosting the hit show “Health Inspectors” on Food Network, but his culinary career started while studying and working in the best kitchens of South Florida. His performance in Memphis as owner and chef at River Oaks restaurant gained him a James Beard nomination and led him to open two critically acclaimed restaurants, Grace and Au Fond Farmtable. His success brought him to Atlanta to serve as Culinary Director for a Georgia-based restaurant group. While currently producing a new television show, Vaughn is also writing a book, developing a spice line and speaking at culinary schools around the country about his experiences in the food and beverage industry. In addition to his multiple upcoming projects, Vaughn is also serving as the official emcee of the 2013 World Food Championships in Las Vegas in November. He currently resides in Atlanta with his wife and four children. For more about Ben Vaughn, please visit: www.BVate.com , and connect with him on Facebook , Twitter , Pinterest , and WhoSay . About the World Food Championships The World Food Championships is a yearlong, world-wide search for the best team, cook or chefs in competition food sport. The event culminates in a four-day, high-stakes food fight to name the ultimate World Food Champion. Major bragging rights and $300,000 are on the line as competitors, from pros to average Joes, earn their right to compete in tournament process in downtown Las Vegas. The seven-category World Food Championships will take place at the Fremont Street Experience on Nov.