MIDYEAR REVIEW OF INVESTMENTS AND PERSONAL FINANCE : Money Moves of the Rich and Famous

Celebrities have to manage their money too--and some of them are pretty good at it. So eat your heart out, Robin Leach. In their own words, six notables shared their savvy moves with free-lance writer Susan Jaques.

Gene Autry, Sports magnate

My best financial decision ever was going into the broadcasting business after leaving the Air Force in 1945. I began to realize that I wouldn’t be starring in films and television shows forever, so I decided to get involved in an area that I enjoy. While stationed at Luke Field, Ariz., I bought my first radio station, KPHO in Phoenix.

After the war, I applied for a new radio station in Tucson and a television franchise in Phoenix, which became KOOL. That led me to purchase other radio and television stations in markets like Los Angeles, Seattle and Detroit.

The decision to diversify has really paid off. Along the way, I’ve established a few basic principles: Hire the best people you can find, give them trust and loyalty, and pay them good money. If they do the job, that money will always come back to you. And in any transaction, the best deal is the one that is fair to both sides.