Celebrity capital
How athletes and entertainers can use a brand platform for good
As a successful athlete, entertainer or influencer, you are in a unique position to be able to use your public standing and reputation to support causes that matter to you.
As you look to effect change in the world, a road map can help you navigate three realities celebrities face in pursuing philanthropic goals:
- An amplified outreach through fans, businesses and charities
- A loss of privacy or anonymity
- An assumption that their wealth and fame equip them to support charitable causes, invest in companies, financially support friends and family, or serve as an ambassador or spokesperson.
What’s more, the public scrutinizes celebrities’ actions, which inevitably means you must allow for this when planning your philanthropy.
Following the spark
When you begin to create a formal philanthropic plan, we recommend you start by following the spark of your curiosity or interest:
These reflections fuel the next step: value-setting, which helps build your philanthropic platform and connects your brand. The following activities can help clarify motivations and values that you want to express through your giving:
- Research the issues that resonate, either directly or with guidance from experts within your ecosystem.
- Attend events or arrange for time to visit the organization and observe their work or programs.
- Ask charities what they need.
- Ask peers what they are funding and why.
- Learn about the needs in your local community (via organizations you already know, local community foundations, other philanthropists you know and respect, or via your advisors).
- Experiment and iterate—consider making small grants (through an anonymous platform) to start a relationship with an organization and watch them develop over time—providing a window of time to determine a philanthropic strategy.
Once you have identified your reasons for giving and formed your core values, next steps include identifying what causes you want to support, determining appropriate charitable vehicles, developing a strategic plan and creating a vision for your legacy.
Expanding the celebrity ecosystem
To help them navigate fame and wealth as well as manage a demanding career, many celebrities surround themselves with highly effective professionals. This ecosystem of personal and professional advisors is essential in today’s increasingly virtual world, saving time and mitigating risk.
As your reputational capital builds, you may want to practice giving through more formal structures. As you do, key additions to your ecosystem should include a team of trusted advisors who can provide guidance on and manage financial affairs and philanthropic activities aligned with your brand and ultimate goals.
Given the deeply personal and intimate nature of philanthropy, many celebrities hire a family member or close friend to oversee their philanthropy. While members of the inner circle, these individuals may have less professional experience or expertise in this domain. Seeking specific philanthropic expertise to incorporate into the existing ecosystem can be incredibly additive.
Dive deeper
Learn more about the relationship between your reputational capital and philanthropic journey, as well as how to preserve and elevate your brand to create a legacy.
