The globally-popular Naomi Campbell was in Durban, in South Africa’s KwaZulu-Natal, for the FORBES WOMAN AFRICA 2019 Leading Women Summit, to talk about her abiding interest and investment in the African continent.
As a supermodel who has scaled stratospheric heights in fashion, Naomi Campbell has graced global runways and magazine covers, so when she came calling in Durban for a FORBES WOMAN AFRICA event, the anticipation was bigger than any cover shoot we have ever done.
For the 2019 Leading Women Summit held in the coastal South African city for the first time on International Women’s Day, the British-born supermodel, activist, philanthropist and cultural innovator exuded her signature grace and glamor in a sea-blue Marianne Fassler dress.
In 2017, Campbell was named contributing editor of British Vogue by its Editor-in-Chief, Edward Enninful.
When I complimented her March 2019 cover for British Vogue, she said, considerately: “I wish I could have brought you one, I could have grabbed a copy for you from the airport [in London] yesterday.”
Campbell caught her break as a fashion model when she was just 15 years old, and has featured in advertising campaigns for luxury houses including Burberry, Prada, Dolce & Gabbana, Marc Jacobs, Louis Vuitton, Yves Saint Laurent and Valentino.
Beyond her work in fashion, she has used her celebrity for fundraising and non-profit initiatives across the globe. In 1997, South African President Nelson Mandela named Campbell an “honorary granddaughter” for her activism. She also now has a YouTube channel, Being Naomi.
Campbell aims to integrate African and international luxury markets “bringing storied retailers to countries such as Nigeria, South Africa and Morocco, as well as introducing African artists to global audiences”.
“The strongest woman I have met come from Africa,” she told an audience of 500 during an on-stage interview at the FORBES WOMAN AFRICA Leading Women Summit.
“There’s many great women. I was very blessed and lucky to meet Miriam Makeba when I came to South Africa. I didn’t know her story but it was just her presence. Then Winnie Mandela… I met many powerful and strong women with inner strength and I am very much attracted to women with strength. You learn from them, you take from them, you observe them and how they speak. I have always considered myself a work-in-progress.”
READ MORE | IN PICTURES | Leading Women Summit 2019
She added: “For me, modeling has been a blessing in my life. I am very grateful. It led me to meet the most amazing people. Where I am at in my life today, is to use the almost 33 years that I have been in this business to help make awareness, to open the minds to the brands that I work with and have worked with all these years.
“They need to come to this continent, not just come in and out and take, but [invest] in the infrastructure and make a commitment to the communities in Africa.”
A day before the event, when FORBES AFRICA caught up with Campbell, and before settling down for our brief interview, she began with a disarming: “What do you think is a good restaurant to go to in Durban?”
“I am tired but excited,” she had laughed. More from the exclusive interview:
You have said that you are investing in communities and infrastructure in Africa. Can you tell us more about your Africa plans?
My plans are to start serving my industry, brands and the continent. And seeing that we are such big consumers [of brands] in the rest of the world, yet we don’t have it ourselves on the continent… And it’s what works in all businesses, like fashion, architecture and technology. We are big influencers so why don’t we have these things? It’s mind-blowing, so now is the time.
You are working a lot with African designers?
I want to take them out into the western world and bring the western world in… so vice versa.
Are African designers in demand in the West?
Yes, because of the textiles. I don’t want to see that their textiles are copied and they don’t get credit for what they have done.
For me, the workmanship, the textiles, this is what we need to keep on the continent. We cannot allow other brands and designers from the West to come in and take your textiles.
What are some of your best memories of Nelson Mandela since your first meeting in 1993?
I have many great memories here in South Africa, and undoubtedly always with ‘grandad’, when he would send me out to the people, to different townships and villages and just put things in perspective for me.
Yes, I was coming from a fashion background, but I am a human being too and coming from a middleclass family, it’s something you feel to do, it’s not something anyone can push you to do. I am not sure what he saw in me and thought that I could do it, but I really love him and miss him.
Lending your celebrity to important causes, you have worked for global health, women’s rights etc… is there any passion project that you are working on right now?
My passion project is Africa. It is such a beautiful rich culture, with minerals and so many natural resources.
The narrative and perception also have to change. It is understood in the wrong way.
All through your career, how have you managed to be so versatile across diverse industries?
There’s no plan to me, I just do what I feel. I [go with] gut instinct really of each thing I commit myself to doing, and I always follow through.
Where do you see yourself in five years?
Hopefully, in the continent of Africa.
What’s it like being a contributing editor on British Vogue?
It’s great working with Edward Enniful and fun to be an editor. I travel anyway but I get to travel and interview people from all walks of life.
It’s interesting to hear other people’s lives, their experiences, strengths and their hopes to get them on their journey. It’s not really like interviews but more conversational.
What is the best part of being an African woman in the 21st century?
African women have always been extremely strong. On the African continent, people are really smart… I have always had high respect for them.
They are so smart and educated, and yet what do they do with it once they have got it, and this is where it needs to change.
Can Diddy’s Ciroc Recipe Work On Alkaline Water?
The first time Sean “Diddy” Combs took a sip of Aquahydrate alkaline water—given to him by pal Mark Wahlberg at a Las Vegas boxing match in the early 2010s—he found it to be an ideal antidote for evenings spent consuming adult beverages.
“I went out that night and had a Vegas night, and I woke up and had a Vegas morning,” Diddy told me in 2015. “I drank two of the [Aquahydrate] bottles and it was, like, the best tasting water that I’ve tasted. And it really, honestly helped me recover.”
Diddy became the face of the company alongside Wahlberg shortly thereafter, and the pair invested $20 million in Aquahydrate over the years while billionaire Ron Burkle’s Yucaipa added another $27 million.
They aren’t the only ones with lofty ambitions for the brand: last week the Alkaline Water Co., the publicly-traded purveyor of competitor Alkaline88, bought Aquahydrate in an all-stock deal that valued the latter at about $50 million.
For Diddy, who ranks No. 4 on our recently-released list of hip-hop’s top earners and boasts a net worth of $740 million, alkaline water holdings are just a drop in his financial bucket. His Diageo-backed Ciroc vodka—and its myriad flavors, from Red Berry to Summer Watermelon—is responsible for the lion’s share of his wealth. But it’s clear he thinks alkaline water, flavored variants included, could swell his portfolio. So do his new partners.
“You put both these brands under one public company, it makes a ton of sense,” says Aaron Keay, Alkaline’s chairman, of the Aquahydrate deal. “We see synergies on distribution, we see cost-savings on cost of goods. On production, on logistics, on staffing. … And we don’t see both brands actually then competing for the same target market.”
In the past, flavored water has enriched investors including some of Diddy’s hip-hop world comrades. A little over a decade ago, 50 Cent famously took Vitaminwater equity in lieu of stock as payment for his endorsement—and walked away with some $100 million when Coca-Cola bought its parent company for $4.1 billion in 2007.
A ten-figure valuation for an alkaline water company seems an outlandish target even for the notoriously bombastic Diddy. But Keay notes Alkaline clocked $33 million in revenues over the past fiscal year and had been expecting $48 million in 2020; now, with Aquahydrate on board, he projects closer to $60-$65 million. That compares favorably to Core Water, which was doing some $80 million as of last year before getting acquired.
“For two or three years, Core Water was just another clear water,” says Keay. “Then they added about a half dozen flavors. Sales doubled. They got bought for $500 million. I mean, for us, $500 million would be a big number off of where our market cap is right now.”
Diddy appears to be an ideal ally in achieving that goal. With Ciroc, once a middling vodka in Diageo’s roster, he was able to articulate importance of the brand’s defining trait: it was made from grapes, not grains (never mind that this might technically disqualify it from being considered a vodka). His contention, according to Stephen Rust, Diageo’s president of new business and reserve brands, is that grapes are simply sexier than potatoes.
“One of his favorite things [to say] is, ‘If you can have a vodka that comes from a history of winemaking, why would you do that versus the history of coming from potatoes?’” Rust explained in an interview for my book, 3 Kings: Diddy, Dr. Dre, Jay-Z, And Hip-Hop’s Multibillion-Dollar Rise. “That’s Sean.”
With alkaline water, Diddy has demonstrated a similar knack for sizing up a product and extracting an elemental notion that passes muster with consumers (if not necessarily scientists). If “you’re full of acid,” Diddy once explained to me, you need to “get your body leveled out.”
Vodka and water, of course, are two very different products, and the same tactics won’t necessarily translate from one business to another. Flavored water itself seems to have been over-carbonated of late, as the recent struggles of brands like La Croix show; Alkaline’s shares have slumped this year as well.
Perhaps that’s why Alkaline is looking beyond its flagship bottled water business. Future plans call for a move towards cans in a nod to environmentally-conscious customers, as well as expansion into the nascent CBD-infused beverage space. Keay figures Diddy and Wahlberg, along with fellow celebrity investor Jillian Michaels, should provide a boost across the board.
“Once the FDA makes a ruling about how CBD is going to be distributed through those chains and channels, those guys are going to want trusted brands, brands that they know already have a consumer following,” says Keay. “And that was another big reason why it made sense to bring [Diddy, Wahlberg and Michaels] in, because it’s only going to help.”
–Zack O’Malley Greenburg; Forbes
The Highest-Paid Actors 2019: Dwayne Johnson, Bradley Cooper And Chris Hemsworth
A bankable leading man is still one of Hollywood’s surest bets, even if your name isn’t Leonardo DiCaprio. While the lucrative twenty-twenty deal ($20 million upfront and 20% of gross profit) doled out to the likes of Harrison Ford and Tom Cruise may be more or less gone, Hollywood still has its big-money brands, those actors who can promise an audience so big that they command not only an eight-figure salary to show up on set but also a decent chunk of a film’s nebulous “pool”—or the money left over after some but not all of the bills are paid.
Dwayne Johnson, also known as the Rock, tops the Forbes list of the world’s ten highest-paid actors, collecting $89.4 million between June 1, 2018, and June 1, 2019.
“It has to be audience first. What does the audience want, and what is the best scenario that we can create that will send them home happy?” Johnson told Forbes in 2018.
It seems he makes the audience happy. Johnson has landed a pay formula as close to the famed twenty-twenty deal of yore as any star can get these days. He’ll collect an upfront salary of up to $23.5 million—his highest quote yet—for the forthcoming Jumanji: The Next Level.
He also commands up to 15% of the pool from high-grossing franchise movies, including Jumanji: Welcome to the Jungle, which had a worldwide box office of $962.1 million. And he is paid $700,000 per episode for HBO’s Ballers and seven figures in royalties for his line of clothing, shoes and headphones with Under Armour.
While Johnson’s deal is the biggest in the business right now, he’s not the only one with a lucrative deal. Robert Downey Jr. gets $20 million upfront and nearly 8% of the pool for his role as Iron Man, and that amounted to about $55 million for his work in Avengers: Endgame, which grossed $2.796 billion at the box office.
That gross was so big that it secured spots on this year’s top-earner list for Chris Hemsworth, Bradley Cooper and Paul Rudd, in addition to Downey; together, they earned $284 million, with most of that coming from the franchise.
“Celebrities such as Downey and (Scarlett) Johansson currently have extreme leverage to demand enormous compensation packages from studios investing hundreds of millions of dollars in making tent-pole films, such as The Avengers series,” entertainment lawyer David Chidekel of Early Sullivan Wright Gizer & McRae told Forbes.
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Cooper is the rare actor who can thank a bet on himself for his 2019 ranking. The actor earned only about 10% of his $57 million payday for voicing Rocket Raccoon in Avengers.
Seventy percent came from A Star Is Born, the smaller musical drama that he directed, produced, cowrote and starred in with Lady Gaga. The movie was a passion project for Cooper, and he forfeited any upfront salary to go into the film and Gaga’s salary. It paid off—the movie, which had a production budget of only $36 million, grossed $435 million worldwide, leaving Cooper with an estimated $40 million.
The full list is below. Earnings estimates are based on data from Nielsen, ComScore, Box Office Mojo and IMDB, as well as interviews with industry insiders. All figures are pretax; fees for agents, managers and lawyers (generally 10%, 15% and 5%, respectively) are not deducted.
The World’s Highest-Paid Actors Of 2019
10. Will Smith
Earnings: $35 million
9. Paul Rudd
Earnings: $41 million
8. Chris Evans
Earnings: $43.5 million
6. Adam Sandler (tie)
Earnings: $57 million
6. Bradley Cooper (tie)
Earnings: $57 million
5. Jackie Chan
Earnings: $58 million
4. Akshay Kumar
Earnings: $65 million
3. Robert Downey Jr.
Earnings: $66 million
2. Chris Hemsworth
Earnings: $76.4 million
1. Dwayne Johnson
-Madeline Berg; Forbes
Comedian Jim Gaffigan Rakes In $30 Million By Ditching Netflix And Betting On Himself
Gripping a lukewarm Heineken, Jim Gaffigan hunches his six-foot-one frame over a peeling table in the green room of the An Grianán Theatre in Letterkenny, Ireland. Summer nights are never terribly hot in these parts, but this one is warm enough to need some air conditioning, which the theater almost never uses. It’s hardly a glamorous moment. But then again, glamour isn’t really his thing.
“There’s nothing sexy about Jim Gaffigan,” he says, sweat dotting his brow. “I’m not young. I don’t have a full head of hair. I’m out of shape. I don’t talk about having dinner with Kanye.”
Fortunately for him, he is funny. Just ask the more than 300,000 people in 15 countries who’ve paid an average of $56 to see his latest routine. For the 53-year-old father of five, it’s been a grueling schedule: more than 75 cities in the past year, including whistle-stops like Letterkenny, a northern community of 20,000 that was once lauded as the Republic’s “tidiest town.”
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They may not offer much sizzle, but places like this are the lifeblood of Gaffigan’s business. He has raked in $30 million this year, putting him at No. 3 on Forbes’ list of the highest-earning stand-up comedians. Half of that was earned by putting “butts in seats.”
The rest comes from spreading his punch lines far and wide. And in this business, if those jokes are funny enough—and your reach wide enough—you can fill a lot of seats with a lot of butts. With the right distribution deal, those jokes can deliver exponential returns. But that’s where it gets a bit tricky.
“In the entertainment industry, every house is made of ice and it’s melting,” Gaffigan says. “So you’d better be building a new house.”
Gaffigan’s been building. In 2016, he agreed to partner with Netflix, the industry’s dominant force and home to original specials from all but one of the comedians on Forbes’ ranking. Last year he cut loose from the kingmaker and placed a bigger bet on himself, pairing up with Comedy Dynamics, an independent producer, to release his next special everywhere but Netflix.
Gaffigan will star in the first original stand-up special on Amazon, which is going after the streaming giant with a push into comedy. Quality Time goes live today, and it can be shopped on the open streaming market when its exclusive run with Amazon Prime Video is up in two years. And that market is only expanding.
Gaffigan has learned a bit about home building in the entertainment industry. He cut his teeth on the club circuit in the early 1990s, when HBO was the primary destination for stand-up specials and Comedy Central was a fledgling cable network.
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In 2000, he landed what was then the holy grail of comedy success—a broadcast sitcom—which was the source of the fortunes the creators of Seinfeld and Roseanne minted once they had enough seasons on the air and could sell the series into syndication.
Gaffigan’s shot proved to be short-lived, but six years later he scored a second chance and headlined a Comedy Central special called Beyond the Pale. This time it paid dividends, landing him his first theater show a month later. The butts were now coming to the seats, and while his rise was live, in person, with microphone in hand, his breakout was digital.
At the time, YouTube was changing the rules of the game, providing comedians a global platform with unprecedented distribution. Then Twitter emerged, giving comedy bookers a real-time assessment of who was attracting audiences.
READ MORE | The World’s Highest-Paid Comedians Of 2018
Then came the debut of streaming on Netflix, which latched onto comedy as a cheap and effective way to lure subscribers, while some, notably the now disgraced Louis C.K., used streaming to control their own distribution, making their shows available for fans to purchase directly.
“It was a technological wave that crashed over the stand-up world,” says Wayne Federman, a comedian and professor of the history of stand-up at the University of Southern California. “And we’re still all trying to figure out what’s going on.”
Gaffigan’s first original Netflix special aired in 2017, long after the company had reshaped the industry. It was a promising place to be: Aziz Ansari and Ali Wong were propelled into superstar status through their Netflix specials, while household names like Dave Chappelle and Jerry Seinfeld reportedly cashed in with $60 million (Chappelle) and $100 million (Seinfeld) paydays in exchange for long-term, multi-program deals. Gaffigan’s first special, Cinco, sold for a more modest seven-figure sum.
It was more than just a check; it was access to a potential audience of nearly 94 million. Although Netflix’s subscriber base has grown since then, so has its stand-up library. The platform now shops nearly four times the number of original stand-up specials than when Cinco debuted.
That makes it harder to stand out in the scroll. Plus, the streamer often holds onto specials in perpetuity, including Cinco. The up-front money is nice, but there is no ability to earn on the back end.
Gaffigan used his next special, 2018’s Noble Ape, which was directed and cowritten by his wife, Jeannie Gaffigan, to test the waters. Comedy Dynamics bought the rights and made it available everywhere Netflix wasn’t. It had a theatrical release and could be purchased and rented on multiple services, including iTunes, YouTube and Walmart’s VUDU.
Later, there were short streaming windows on Comedy Central and Amazon Prime. According to Comedy Dynamics CEO Brian Volk-Weiss, it was even syndicated to planes and cruise ships. The up-front payment to Gaffigan from Comedy Dynamics was lower than at Netflix, but the wide distribution allowed him to earn on the back end, bringing in a total of $10 million, according to Forbes estimates.
And new services are on the way from Apple, WarnerMedia, NBCUniversal and Disney, any one of which could choose to pursue cheap-to-produce and popular stand-up specials.
Because of this widening field, stand-up specials may have more life (and revenue) in them, and that could be good for comedians looking to gamble on their success with deals that offer back-end participation. “We have titles in our library that are making more in year 12 than they made in year one,” says Volk-Weiss, whose company also owns specials by Bob Saget, Iliza Shlesinger and Janeane Garofalo.
Still, leaving Netflix means walking away from a partner that has now established itself as a formidable entertainment company. Netflix has some 180 original hour-long stand-up specials and is singularly focused on exploiting content around the world. Gaffigan, though, is content to keep the bet on himself.
“In the entertainment industry, every house is made of ice and it’s melting. So you’d better be building a new house.”
In the stuffy backstage room in Letterkenny, Gaffigan reviews some of the new material he tried out on stage. A joke about Ireland’s nonsensical roads killed it. He stumbled with a bit about the English. The classics played well—“My dad never went to a parent-teacher conference; my dad didn’t know I went to school.”
And he’s well aware that Amazon’s core mission is to sell stuff, even though it has won critical acclaim for shows like The Marvelous Mrs. Maisel and Transparent. With plans to deliver three more specials over the next five years, he’s got time to see just how good a partner the retailer might be. Along the way, he may decide it’s time to find a new neighborhood.
“The reason I went to Amazon is to expand my audience,” he says. “I don’t know what they’re gonna do and I don’t fully understand their marketing might. I might be pleasantly surprised. I mean, it’s a huge corporation. They could probably make more selling socks.”
-Ariel Shapiro; Forbes
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