For Eva Longoria, entrepreneurship is a way of life, thanks to winning ventures like Angel City FC, an L.A.-based National Women’s Soccer League, and Casa Del Sol Tequila. With a new partnership with global technology powerhouse Lenovo, she wants to mentor and empower others to achieve their own business success.
But don’t expect to see the successful Hollywood power player all blinged out. “I don’t have fancy cars, I don’t buy bags,” Longoria, 51, tells Us Weekly. “If you see me with a nice bag, it’s because somebody gave it to me!”
Below, Longoria dishes on her first job, family money advice, investment know-how and the splurge-y dress she bought once those Desperate Housewives paychecks hit.
What was your very first job?
Cutting lawns when I was 10. I started with my yard, and my dad gave me $20. And then the next day, I said, “Can I cut it again today?” I just wanted another $20. He’s like, “No, that’s not how it works. Go ask the neighbor.” And then my first [real] job was at Wendy’s.
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Do you remember how much you made per hour at Wendy’s?
Oh my God, like $3.35; Texas minimum wage [in 1988]. I remember when I got a 10-cent raise. I was [so excited], “Mom, I got a raise, and it was 10 cents!” I was in high school.
Are you typically a spender or a saver?
I’m an investor, so I don’t waste money. I do spend money, but then I invest [it].
How important is business mentorship to you?
My life’s work with my foundation has been about helping women reach their full potential through entrepreneurial programs, specifically Latinas. Latinas start small businesses [at] six times the national average.
When Lenovo came to me with this global initiative about backing every business, I was so blown away, because it was exactly what I studied [about] this universal challenge for small businesses…. So to be able to unlock the potential of these businesses through grant funding or through mentorship or through AI technology, that was exciting to me.
Who did you look up to in business when you were a young adult?
Honestly, my family. I have a family full of smart, financially independent, intelligent, successful women. They were all around me, so I didn’t really have to look far to see the example of a woman I wanted to be. I was like, “Oh, I’m going to be like my aunt.”
I remember my aunt traveling. She went to Hong Kong and brought me back a doll, and I was like, “Where’s Hong Kong?” Just thinking, “I want to travel when I grow up. I want to be like my aunt.” So I always knew I’d be successful. I didn’t know what I was going to do, but I knew I’d be successful. Thank God I had the mother and aunt that I had [to look up to]. I know that isn’t everybody’s situation.
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What was the biggest lesson your parents taught you about money when you were a kid?
They were big savers, so they were always telling me, “Save your money.” They never said for what; just always having a little nest egg was important. If I could just have this much in my savings account, I know I’ll make it through a rainy day. And then it was my boss later that said, “No, no, you don’t want to just save your money. You need to make your money make money.”
And now, what’s your biggest splurge?
Travel. I love a nice plane ticket. I love a really good hotel with a great spa. I love a good Michelin star meal. Like, I’m very bougie with my travel, and that’s why I’ve made it my job with the [CNN] Searching For series. I was like, I just want to travel and eat and drink. I’m gonna make that my job!
What was the first moment you felt really financially secure?
I still don’t feel financially secure! I will tell you the first big paycheck I got when I was on L.A. Dragnet with Ed O’Neill, I bought a leather jacket that was like $300. It was the biggest splurge I had ever spent on a piece of clothing. I thought about returning it twice!
I remember also going into Bebe when I was on Desperate Housewives and buying [a dress] without looking at the price. I took it to the counter and I walked out. My friend said, “How much was that?” And I go, “I don’t know. I should have looked.”… I remember [thinking] I must feel financially secure to have been able to have gone into Bebe and buy a dress without looking at the price tag. I still look at the price tag!
