Companies, particularly in the tech industry, associating themselves with famous people is not new. Aside from cash infusions, the well known and well connected can act as unofficial spokespeople whose brands and personal magnetism can draw in more money and interest.
Usually that means an investment of money instead of time.
Examples include actor Aston Kutcher and rapper Jay-Z making early bets on ride-hailing company Uber, now worth tens of millions of dollars. Former Warriors star Andre Iguodala has parlayed his basketball fortune into dozens of tech investments, including in Zoom, the video call company whose stock is worth more than double where it was this time last year.
Rarer than big name investments is a well-known person actually taking a job at a company, as Prince Harry, the Duke of Sussex, did this week when he joined the San Francisco based mental health startup BetterUp with the title of chief impact officer.
That is something of an unusual role and the company has said he will be responsible for creating awareness around mental health while expanding the company’s reach and charitable contributions, building on his previous work as a member of the U.K. royal family.
The role of a chief impact officer is akin to “An angel investor who is not investing their economics or money, but time,” said Tarun Kushwaha, a professor of marketing at George Mason University’s School of Business.
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