Summary
- Tracee Ellis Ross has a $16 million fortune thanks to her star quality as an actor, and she doesn't spend her money in predictable ways.
- Ross comes from a family of successful entertainers; her father managed Diana Ross and other stars, and her siblings have also found success in the entertainment industry.
- Ross is a responsible entrepreneur who launched Pattern Beauty LLC to produce safe hair care products for underserved communities.
During Tracee Ellis Ross' career, the talented actor has often stood out even she worked with the stars of Girlfriends most of who have remained busy ever since. Thanks to Ross' star quality, she has managed to demand the kind of salary that has reportedly allowed her to amass a $16 million fortune.
When most celebrities become millionaires, they start spending their money in very predictable ways. When it comes to Ross, however, she doesn't handle her money the way her peers do, and she has her famous mother Diana Ross to thank for that.
Who Is Tracee Ellis Ross Related To?
From the moment that Tracee Ellis Ross was born, she was surrounded by incredible people. First off, Ross' father Robert Ellis Silberstein, whom she adores, has managed people like Billy Preston, Diana Ross, Rufus, the Rolling Stones' Ronnie Wood, Meat Loaf, and Status Quo.
On top of her accomplished father, Ross is the daughter of one of the most celebrated singers of all time, Diana Ross. World-famous as a solo performer, Diana Ross first rose to fame as the lead singer for The Supremes. To Diana Ross' credit, she has managed to make sure her kids don't live in her shadow despite her legendary status.
If it wasn't amazing enough that Ross' parents have such incredible histories, other members of her family are rich and famous too. Among Ross' many siblings, three of them have garnered a lot of success in the entertainment business.
When Diana Ross married Arne Næss Jr. in 1985, Tracee Ellis Ross gained three step-siblings she remained close with after their parents divorced in the year 2000. Ross' best-known step-sibling is the folk singer Leona Naess who has worked with many stars during her career.
Ross' older sister Rhonda Ross Kendrick has also become an actor. The biological daughter of Motown's Berry Gordy, Rhonda Ross Kendrick has appeared in several TV shows including being a regular on the soap opera Another World.
Ross' younger brother Evan Ross is married to Ashlee Simpson, a performer whose career continued after her SNL debacle. Best known for appearing in both The Hunger Games: Mockingjay movies, Evan Ross also landed roles in a long list of other films and shows.
How Does Tracee Ellis Ross Spend Her Fortune?
When most people imagine what it would be like to become wealthy, they imagine spending their money on the same kinds of things. However, considering how differently Elon Musk and Jeff Bezos use their fortunes, rich people clearly can have very different views on what to do with money.
Looking at what is known about what Tracee Ellis Ross does with her $16 million fortune, it is impressive to see how responsible she seems to be. For fans who want to see an example of how Ross handles her finances, all they need to do is look at her California home.
During the early-2010s, Ross bought a home in California. Instead of spending way beyond her means like a lot of stars do, Ross reportedly paid just $910,000 for the home. Nearly a decade later, Ross decided to put her home on the market with an asking price of $2.3 million.
Similar to the way that Ross made the most out of her real estate investment, she has also used her money to become a responsible entrepreneur. According to what Ross has revealed in the past, she spent roughly a decade preparing before she launched her business Pattern Beauty LLC in 2018.
Based on how Wikipedia sums up Ross' business, Pattern is designed to produce products for a wildly underserved community. "Ross produces a line of 'Juicy and Joyful' beauty hair care products made with safe ingredients for curls and promotes support organizations to empower women and people of color."
As Ross explained to People in 2022, the products her company produces have allowed her to have a great relationship with her own hair.
"As a child, I had no opinions or thoughts about my hair. I didn't even know it was a thing that I should have opinions or thoughts about. But then you hit teenage life and you're comparing yourself to everyone else, and what everyone is telling you makes you desirable or not."
Ross continued, "I didn't always have this kind of confidence or relationship with my hair. The truth is, the majority of my hair confidence has come with my products. I have a lot of pride in my hair. I enjoy my hair, I am tickled by my hair. I used to say I worked for my hair, but now I think my hair is just a really good extension of who I am and my creativity and it can do anything."
In 2019, Ross spoke to InStyle about the mentality she has when it comes to money. As Ross explained, she strongly believes in being careful with your cash.
“Spending smart is part of my motto in life. I believe that you can feel extraordinary in your life without spending tons of money. I’m a really strong advocate for living within your means and not trying to keep up with the Joneses, because then you don’t have debt.”
Ross continued, “It’s all about how you get longevity out of your money. There have definitely been moments where I’m like, ‘Why did I buy that? It was ridiculous. But I’ve learned that, just because I want something, it doesn’t mean I should have it."
Later in the same interview, Ross expressed her opinion that people need to be more open about their finances.
"We’re are all taught—both men and women—that you’re not supposed to talk about money, and that it’s so uncouth or something. But I think we have to have these conversations about money and stay informed, both in terms of what we’re making on our own behalf and for each other."
Most notably, Ross told InStyle that it was her legendary mother Diana Ross who first taught her about fiscal responsibility. “When I was young, my mom told me, ‘You can spend a lot of money on your clothes, on your things—if you take care of them.’ And I have lived by that.”
