Watch CBSN Live

Celebrity Tech Investors Justin Timberlake

                     SLIDE 3 of 7                    NEXT >>

Justin Timberlake

Getty Images

Investments: Timberlake joined with a small ad-targeting firm in late June to purchase MySpace for $35 million from News Corp., which acquired the social network in 2005 for $580 million. The amount of Timberlake's investment was undisclosed. The former N' Sync lead singer has also invested in Stipple, a photo sharing and labeling site.

Background: Timberlake will be trying to bring some sexy back to the beleaguered social networking site by serving as MySpace's new creative director. In a press release, Timberlake said "There's a need for a place where fans can go to interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect ... I'm excited to help revitalize MySpace by using its social media platform to bring artists and fans together in one community."

Fun fact: You know what's not real money? The $12 billion that MySpace was supposedly worth at its peak in 2007. You know what may, or many not be real money? $84 billion — which is as high as Facebook's private valuation has gotten thus far. Here's the irony: Timberlake portrayed fast-talking Napster founder Sean Parker, who helped Facebook sink MySpace by serving as an early consultant and investor, in the movie The Social Network.

Number of Twitter followers: 5.8 million (@jtimberlake)

                    SLIDE 3 of 7                     NEXT >>

View CBS News In