Celebrity Entrepreneurship: The Impact of Star Power and Intangible Assets on Venture Longevity

ABSTRACT The celebrity economy is thriving, with more stars now owning businesses instead of merely endorsing products. This study examines the impact of specific factors in celebrity entrepreneurship on business success. Findings indicate that a celebrity's entrepreneurial involvement and attractiveness are crucial for performance, whereas alignment between their public image and business is less essential. Prior experience plays a significant role; however, industry‐specific knowledge, entrepreneurial skills, and personal networks carry less weight, as celebrity fame often grants access to valuable connections and opportunities. By examining celebrity‐founded ventures as distinct entities, the study reveals how celebrities effectively leverage their fame, networks, and resources to achieve business success. The findings reveal that celebrity attractiveness confers short‐term survival advantages, but its effect diminishes over time, whereas sustained entrepreneurial involvement exerts a stronger, more enduring impact on firm performance.