He’s trusted to give modeling advice on Bravo's "Make Me a Supermodel." For MainStreet, however, Tyson Beckford also gives money advice. “Put your money in the bank,” the supermodel tells MainStreet. “You can’t go wrong with that. Save, save, save.”
Tyson was not always so savvy. When asked about his biggest investment mistake, he quickly replies: “Cars. Any car is a money pit.” Beckford's deepest pit? “Probably a Ferrari I bought when I signed my Ralph Lauren deal,” he says of the bright red 355 Spyder, which cost $100,000 in 1995, the year he signed his deal with Polo (RL). "It attracted too much attention, I kept getting pulled over by the cops, I didn't get a lot of tickets, I just got harassed. And it wasn't cool. I got rid of it within a year.”
Beckford says he didn’t make a second mistake when he flipped his wheels: “Oh, I made money back on it, come on now!”
These days, Tyson’s hired hands make his deals. “I don’t really mess with stocks. My accounting firm does [that]. They haven’t called me to tell me anything bad yet, so I guess I’m doing alright. They just say, ‘Keep the show going,’ and that’s what I’m supposed to do.” And, that’s exactly what Beckford is doing. He can be seen along with fellow supermodel Niki Taylor when he hosts Bravo’s (GE) reality show “Make Me a Supermodel,” which premiered January 10 and is scheduled to run through April, Thursday nights at 10 p.m.