The self-made millionaire shares a ‘Real Housewives of New York” life-changing moment.
Reality star and businesswoman Bethenny Frankel knows the importance of a well-constructed contract — and she recently shared it with her followers on Instagram. When she started on the mega-popular series “The Real Housewives of New York City,” Frankel wasn’t exactly swimming in cash.
“How a lot was my contract for season one of many Real Housewives of New York City? The contract mentioned $7,250, which I didn’t dispute,” she told her followers. “I used to be a no person. There wasn’t some huge cash to me. All I had was time on my arms. No youngsters, no household, no drawback.”
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But Frankel did have one issue with the contract Bravo sent. “The solely factor I did cross out was the factor that mentioned Bravo would take a proportion of something I made,” she recalls. “I had nothing — what would I care? But someplace down deep within me, I understood conceptually that that was improper, that I used to be going locations, and I used to be going to do one thing and nobody was going to personal any a part of it.”
Frankel goes on to say that the choice changed her “whole life”–and it changed the legal practices of reality television contracts, too. “Bravo awoke,” Frankel says in her reel. “They created what’s now referred to by the business as ‘The Bethenny Clause’, which signifies that anyone happening actuality TV has to present a proportion to the powers that be.”
“I used to be not a enterprise particular person,” she reiterates. “I learn a contract. Something did not really feel proper to me. And I took it out, and it modified my whole life. And it modified the leisure business and [its] practices. So by no means assume anybody is smarter than you.”
Bethenny bought her liquor model Skinnygirl for $100 million in 2011. And Bravo did not see a single penny of it.
Source: www.thestreet.com”