Topic: Reckless financial decision ? - page 3. (Read 897 times)

When it comes to such deals, it's not always about basing everything about financial gain, and considering this is about a celebrity...this means self image, reputation is everything and if you became a celebrity as an activist against drugs..there is no way you will endorse a drug related brand just because they are paying you well. Should you go for the money, expect your celebrity status to go down the drainage!!!


I guess by definition given above, this qualifies to be a reckless financial decision, case closed!

The negative impact of drug usage in the music industry is high and at that many artists take the drug to be a maguc food for them and for that, they are now so reckless to the point that they turn down almost everything that is outside smoking weed and taking the drug at all time even in public,  the artist may not know the impact and effects of his action now, but wait until there is no more deal for them they will realize the importance of putting business first before pleasure.
Just as you said anyway, it sure is a thing for us to assume that no public smoking is the reason he turned down the offer, but there may be more to that aside from the weed thing.

There are other celebrities who are also careless in their decisions, in fact, and regretted in the end because they made a rash choice that they thought was the right thing to do.

That's why even if I became one of the celebrities and reached the popularity or fame that they have, I will not waste the opportunity that everything I worked for will just go to nothing,

we should not waste everything we worked for.

What an average income earner considers as financial recklessness can be a regular lifestyle of celebrities and the super rich, so it's a relative term, meaning that what you consider a foolish financial decision can be what another person does for fun. So it depends on the financial status of the celebrity that is discussed in the OP, if he's supper rich, perhaps a billionaire, then he can easily give his weed more priority than the deal that he was offered, but if he was not super rich and turned down a money that can increase his fortune, then it's foolishness on his part. Sometimes we need to sacrifice by giving up a habit temporarily in order to achieve something greater,

It amazes me how some persons would just turned down huge offers and deals just because of a condition that's attached to it and I think what causes some of this decision is too much ego (high self esteem).

Some people feels that with the wealth they've acquired in life, they can influence how they want their business to go with others.

Pride is very bad for any business person because it will surely lead to one's downfall. Okay let's take a scenario whereby he keeps rejecting deals as a result of the fact that he isn't allowed to smoke weeds, how is he gonna keep growing? It's very bad that some people just feel so full of themselves to the extent of being too ignorant of some nasty decisions they take.

Well, accepting a deal that has long-term negative consequences down the road could be more reckless than actually accepting the deal. I don't know what celebrity you are talking about, but when you take Snoop Dog as an example, I think any deal that forbids him to smoke weed would probably harm him more than it would do him good financially. If these guys are active in the cannabis industry, their lifestyle is part of their marketing agenda. What good would it be to sign a multi-million dollar deal with whatever brand that has nothing or not much to do with the agenda that these celebrities are pushing otherwise?

I think it is all about the balance between the cons and pros and without knowing which celebrity you are talking about, it is hardly possible to give a more specified opinion on the topic. You could look at this from all angles anyway.

Reckless financial decisions that I remember from the top of my head is something like Ronald Wayne selling his 10% equity share in Apple for a total of $2300 in 1976/1977.

Or Steve Ballmer who refused to look into smartphones when he was still Microsoft CEO.

You could argue that Elon Musk buying Twitter for over $40 billion paid way too much. But since it serves his agenda, he might not have cared about paying a premium.

I don't think that it's a reckless financial decision, that celebrity's got a lifestyle that he/she can't live without and so he ends up having to decline it, I guess that celebrity has a principle that he doesn't want to break anytime soon plus he's a celebrity so I don't think that they're going to have a problem finding other million dollar deal, and I don't think that they're going to be offered a million dollar deal if they're not already a millionaire and from what I can deduce from that, these celebrity's probably financially stable and got a lot of income stream so that rejection might not be a big deal to that person, maybe it's just us at the bottom that sees it as a reckless decision and I think that we can learn something from that person.

It depends on your own decision, as you said, he is an artist so it is possible that he has many other projects, offers and other promotions with a large income, We cannot say that the artist's situation is a reckless financial decision because he is really rich, It's not like if it was offered to a normal person and then it was not accepted, that's when I can only say that it was a reckless decision because you let go of the opportunity that was coming to you, knowing that you are not rich and the money will be big as long as you stay away from the vices that you have.

A celebrity who turns down a multi-million dollar offer or deal simply because he is not allowed to smoke weed is definitely reckless with his or her financial decisions, but this is in my own perspective alone, for there is still the possibility that the celebrity may have other reasons why he or she turned down the deal that is maybe outside the company not allowing him or her to smoke weed.

Personally, I've never done weed, and will never do it, for I detest it, but I don't judge people who are into it, some are addicted to it, and because of that addiction, they can't perform outside or without taking weed, this also may be the reason why he turned down the multi-million dollar offer, maybe he or she is already addicted to weed, and can't perform the deal as he is expected to perform, if he doesn't smoke it, and instead of him or her ending up not meeting to the expection of the company, and also disgracing him or herself in public due to lack of inspiration, which is as a result of not smoking weed, he or she felt it better to just turn down the offer, for in the money, money is not everything, most especially when already have a lot of it.

Multi-million dollar is a huge amount of money, only to those who don't have it yet, the celebrity in question may have multiple of it, and this means nothing to him anymore, so, to him or her, he or she lose nothing by turning the offer down.

I think that was his choice, because maybe from the start he started his career and made an agreement with himself or his team to make a rule that must not be broken.
so maybe that is one of the reasons for the story you mentioned.
there was nothing reckless about refusing that, at least he/she had discipline.

It is only a reckless financial decision, if you do not have other opportunites lined up. A lot of these celebrities have loads of offers thrown their way, so they can pick and choose what they want.

It will be seen as a reckless decision, if you are a upcoming star and if you turn down a offer based on that reason. Other companies will not want to work with you, if you do that early in your career.

Not many people are able to minimize unproductive expenses so they fail to make financial management more precise. Financial problems will be the most crucial now, because if people are unable to keep up, it will have an impact on the course of life. For example, such as living expenses, health and children's school fees. In parts of the world there are many people who suffer from illnesses and children who cannot go to school because they do not have money so they are forced to accept the situation.

Allocate money for several things, apart from meeting living needs, investment, business and other needs in living life. This concept will be very difficult to implement if someone does not have a steady source of income and now one needs to think about how to make money regularly even if it is a little smaller. It is better to have a small but regular income than to have no income to meet all your needs.

If he already has a lot of money and high demand in his industry, turning down a multi-million dollar deal might not be as bad as being forced to quit smoking weed. Stopping weed use could potentially impact his productivity to a degree that hinders future deals. Ultimately, whether this is a reckless decision depends on his specific circumstances. As long as the potential benefits outweigh the risks and he understands the consequences, it wouldn't be considered reckless.

One example of a reckless financial decision I've heard of is resigning from a secure job to open a business without adequate savings or relevant experience. In this scenario, the individual needs to learn everything from scratch, and the business needs to become profitable quickly to avoid depleting their savings. This is considered reckless because it involves a very high risk of financial failure.

if a celebrity already has millions, thus his lifestyle is secure.. an extra million achieves no extra benefit..
.. however money that comes with terms/conditions that interrupt someones lifestyle actually has a negative effect and can wreck his lifestyle more than not taking the money

Life is all about decipline, personal decision and objective. Some people chose to represent what they believe or what they think is more important to them than others. Personal decision should be respected no matter the challenges. to the musicians weed gives them inspiration that pass a message across the congregation than a billion dollars. so the message he/ she passes, is the fun and joy he gets. So his decision may be for an important decision to him and not to any body

I instantly thought of Snoop here. Is he the one you're referring to? His influence in the industry must be still "high" that's why he's not afraid to turn it down. People who can refuse these kind of deals are probably financially capable or know other ways to make money so it's not entirely reckless.

There was also another actor who turned down a multi-million job because they require him to get a jab first. He refused and I think people who knew that situation were questioning his decision at that time.

I believe it's an addiction because he can't resist the urge. Even during work or performances, he feels compelled to smoke weed. If it weren't for this addiction, he would have seized the significant opportunity, offering substantial payment and a great boost to his career. Addiction can truly dominate one's priorities, and the only solution when it becomes severe is for the person to seek rehabilitation.

It depends on their perspective because in the end it's not just about financial issues but there could be priorities that come first.
So when their habits are restricted such as not smoking or not drinking alcohol in an agreement but they are cigarette and alcohol addicts I think they will definitely reject it outright because after all when someone who already has an addiction problem to something it will definitely be a little complicated if it is abandoned.
Regardless of whether it is reckless management or not I think in the end it depends on the choice that is made because forcing to follow the rules but in the end it hurts themselves I think it is also not a good deal.
Everyone has a different point of view and situation to decide on this so I guess it comes down to each person's choice in the end.

I cannot call these reckless financial decisions because the celebrity knows how much he is worth before turning down such an amount of money. Although I know the celebrity you are talking about, it is Burna Boy who turns down 5 million US dollars because he won’t be able to smoke in Dubai, but obviously if you look at Burna Boy, you will know he is worth more than the money he turned down. Furthermore, this is his private life, and maybe he can’t do without smoking weed, so he has to make that decision on his own. However, when you have so much money, you won’t know the value of it, especially when you are very wealthy and have everything you need in your possession. You won’t be willing to turn down some amount of money.

However, the artist who did these is making millions of dollars per show. For him to turn down a single show worth $5 million is nothing for him because he knows he will get more than that in less than a week or day. So I won’t call these reckless financial decisions; he knows why he made them. 

freedom is costly that's why some celebrities pay for it with their careers. i have no idea why this celebrity prefers to quit all because he can't smoke weed but definitely. he can weed in hiding or just at home that's where he can smoke. it's reckless that could damage his career and his finances, finding another career is the only option for them as social media will bombard him with criticism.

celebrities are often controlled by their sponsors, especially in terms of saying their points of view about politics. hollywood actors are just not able to criticize politicians that is their policy and if anyone does it, it better be with the sponsor's approval.