"Kylie recently spent AU$40 on two dresses, a skirt and a hat from the Salvation Army store in Melbourne, Australia. Despite her wealth, Kylie is obviously a subscriber to our live like a millionaire ethos."
Yvonne Jenkins: Director Ethical Financial Services
In 2008 Kylie Minogue turned 40, a birthday she perhaps thought she would not reach after her breast cancer diagnosis in 2005. Also in 2008 she collected an Order of the British Empire, OBE for services to music.
Kylie remains a role model to young and old alike, not simply for her music but also for other women breast cancer sufferers. This was illustrated when she was nominated as Britain's best loved celebrity by a British tabloid and by receiving the French Ordre des Arts et des Lettres their highest cultural honour. Less well covered about Kylie, is her investment and financial savvy.
Her early career
Kylie Minogue made her television debut in 1980 in an Australian television series Skyways. After that she appeared in The Sullivans and in 1984 took a role in The Henderson Kids. In 1986 she left school and started in the role that took her to international fame in the hit television series Neighbours which became Australia's highest rating program.
In 1987 she became the youngest star ever to win the Silver Logie for most popular actress in Australia. In August 1987 she released her first song, a cover of Locomotion, which with the help of record producers Stock, Aitken and Waterman become a smash hit, reaching platinum sales. In 1988 she became the first person ever to win four Logies on one night.
Kylie's singing career from this point forward continued to collect world wide fans and awards. More importantly, at some point in her star studded career, Kylie made the crossover from pop idol to a much loved and admired woman. Of course she is also incredibly wealthy.
As testament to her world wide appeal, Kylie was paid AU$73,000 per minute to perform in front of the Dubai Royal family amongst other high profile guests at the opening of the Atlantis Hotel on the manm ade island of Palm Jumeirah, Dubai.
How much is she worth?
The cover version of Locomotion pushed her onto the international pop scene at the age of 19. Two years later, her personal fortune was estimated at around $5m. She has now sold more than 40 million albums worldwide and in 2004 was paid $1m to entertain Deutsche Bank staff for 40 minutes.
Singing isn't her only source of income. Her firm Darenote, which receives her earnings from sponsorship deals and her underwear range pays her an annual salary of over AU$2 million. Her worth is now estimated at over AU$70 million, making her one of Australia's richest performers.
What impact did her breast cancer have?
When she was diagnosed with cancer in May 2005, Kylie cancelled her Showgirl tour, retreating from the public eye. Yet despite taking that year off Darenote's accounts show that she made over AU$9 million. Double her previous year's earnings. In 2007 she returned to performing and she was paid $500,000 for half an hour's entertaining at Vanisha Mittal's wedding. Kylie also launched a new line of beachwear sold by H&M, further diversifying her revenue channels.
What has she spent her money on since regaining her health?
After her recovery, Kylie sought a crowd-free environment and spent AU$2.5m building a house on a secluded island off the coast of Melbourne, Australia. As a get well present to herself, she arranged a £1m refit of her £3m home in London. She splashed out to celebrate the 20th anniversary of Locomotion becoming number one in Australia, reported to have cost her about £500,000.
Kylie has pledged her support for a campaign targetted to raise over AU$90 million for abused children. The money will go to the British charities Childline and the NSPCC. She said "We can all help to change things by supporting the NSPCC's Child's Voice appeal and make sure those children no longer face their troubles alone".
What can we learn from Kylie?
It would be easy to assume that great stardom and wealth make it somehow easier to be generous or inspirational. But the truth is that there are many examples of the complete opposite amongst stars and the wealthy.
Everyday many women triumph over adversity. Kylie's story is no different, except her battle with breast cancer was played out on a world stage. Just as Kylie is inspirational to her extended network and the world community, your personal triumphs will be equally as inspirational within your own extended network and community.
Pink Investments aims to inspire you to in turn inspire other women. Regardless of the scale of your achievements, a woman somewhere will be inspired to take that next step. The contributors to Pink Investments strive to inspire and assist other women to improve their financial situation, no matter what their current position.
Pink Investments inspiring change, one woman at a time