Celebrity Business Moves — June 3, 2026
This week brought major celebrity investment news with AI-shopping app Phia revealing high-profile backers in its $35.5M Series A, while NASCAR's Legacy Motor Club lined up 27 celebrity investors led by musician Darius Rucker. Meanwhile, elite athletes including Stephen Curry and Anthony Edwards made significant business moves in endorsements and venture equity. <!-- /headline --> Celebrity investors fuel AI boom while athletes expand equity stakes in emerging sectors <!-- /headline -->
Celebrity Business Moves — June 3, 2026
This week brought major celebrity investment news with AI-shopping app Phia revealing high-profile backers in its $35.5M Series A, while NASCAR's Legacy Motor Club lined up 27 celebrity investors led by musician Darius Rucker. Meanwhile, elite athletes including Stephen Curry and Anthony Edwards made significant business moves in endorsements and venture equity.
<!-- /headline -->Celebrity investors fuel AI boom while athletes expand equity stakes in emerging sectors
<!-- /headline -->Top Moves This Week
Phia — Celebrity Investors Revealed in $35.5M Series A Round
- The Move: The AI-powered shopping assistant app disclosed its celebrity investor backing following a successful $35.5 million Series A funding round on May 29
- Details: Multiple high-profile celebrities joined the funding round, though specific investor names were gradually revealed. The round values Phia as a significant player in the AI shopping space
- Why It Matters: Celebrity participation in AI infrastructure continues to accelerate. This signals mainstream entertainment figures see genuine opportunity in consumer-facing AI tools beyond hype
- Smart or Risky?: Smart move for early-stage capital. Celebrity investors bring brand amplification and network effects that can accelerate user adoption in crowded AI markets
Legacy Motor Club — 27 Celebrity Investors to Be Announced
- The Move: NASCAR's Legacy Motor Club, co-owned by Jimmie Johnson, is preparing to announce a massive group of 27 celebrity investors joining the organization
- Details: Musician Darius Rucker has been identified as the first revealed investor. The investor group spans entertainment and sports, positioning the team as a celebrity-backed venture
- Why It Matters: This represents one of the largest coordinated celebrity investor groups in motorsports. It signals confidence in NASCAR's growth trajectory and the team's business model
- Smart or Risky?: Smart for visibility and capital. Celebrity ownership stakes in sports teams historically generate strong media attention and can drive attendance and merchandise sales
Sports Stars in Business
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Stephen Curry: Signed a landmark 10-year shoe endorsement deal with Chinese company Li-Ning on June 1. The agreement extends his Curry Brand venture globally across basketball products, athleisure, and gives him authority to sign other athletes to the brand, significantly expanding his control over the Curry Brand ecosystem
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Anthony Edwards, Kyler Murray, Bryce Young & Tracy McGrady: Multiple elite athletes including NBA star Anthony Edwards, NFL QBs Kyler Murray and Bryce Young joined Tracy McGrady in investing in Karma Automotive's new ownership program on June 2. This marks coordinated Black athlete investment in EV/automotive sector, signaling diversification beyond traditional sports business ventures
- Giannis Antetokounmpo: The NBA star has built a diversified global business empire reportedly worth hundreds of millions, including a $175 million NBA contract, Nike partnerships, Chelsea Women ownership stake, investment in prediction market Kalshi, and $69 million in real estate holdings
Analysis: What's Trending
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AI infrastructure remains the celebrity investment darling: Phia's disclosed celebrity backing joins ongoing investments by Sound Ventures (Ashton Kutcher), SKKY Partners (Kim Kardashian), and Jared Leto's Paradox in AI-adjacent sectors. The pattern shows celebrities are betting big on AI tools rather than just AI hype.
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Equity over endorsements: This week emphasized equity stakes (Karma Automotive, Legacy Motor Club) over pure endorsement deals. Athletes and entertainers increasingly want ownership upside rather than one-time payments, reflecting maturing financial sophistication.
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Consortium investment models: Both Phia and Legacy Motor Club employed group celebrity investor strategies rather than single-name backing, suggesting a shift toward syndicated celebrity deals that spread risk and amplify marketing reach.
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Cross-sector athlete diversification: Edwards, Murray, and Young's pivot toward automotive/EV investments shows athletes no longer concentrate in traditional sports business but pursue strategic positions in emerging industries aligned with their brand values (sustainability, innovation).
What to Watch Next
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Legacy Motor Club investor reveal: The full announcement of all 27 celebrity investors in NASCAR's Legacy Motor Club could reshape perceptions of motorsports as a celebrity investment sector and trigger copycat deals in other racing teams
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Karma Automotive expansion: Watch whether the Edwards/Murray/Young investment leads to additional athlete stakeholders in the EV manufacturer or signals a broader trend of sports figures entering automotive ventures
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Phia's user growth metrics: The celebrity-backed AI shopping app's ability to convert investor hype into actual user adoption will be a bellwether for whether celebrity involvement in AI tools drives consumer traction or remains a funding-stage phenomenon
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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