10 Worst Celebrity Business Fails
Fox Business News - almost 3 years
Modern celebrities seem to want to do it all. They simultaneously work as actors, writers, musicians, directors and designers, and sometimes, they even want to be entrepreneurs. While some famous faces have gone on to start highly successful businesses, others should really just stick to what they know. As these 10 failed celebrity business ventures prove, having money and fame doesn't always mean you can run a company.
38 Studios (Curt Schilling)
In 2008, just before Curt Schilling retired from Major League Baseball, the former Red Sox pitcher founded 38 Studios, a video game company geared toward producing massively multiplayer online (MMO) games. Schilling couldn't raise the necessary venture capital, so he put more than $30 million of his own money into the business to get it started. In 2011, the company defaulted on a loan it had received from the State of Rhode Island, and had to lay off its entire staff (nearly 400 people) in June 2012 after failing to obtain alternative
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