Are 'multi-millionaire' X Factor rejects Jedward turning into Bill Gross?

The phenomenon has been described as "the Jedward paradox". They can neither dance nor sing, yet since coming sixth last year on X Factor, the much-publicised UK TV singing competition, Dublin twins John and Edward Grimes (hence 'Jedward') have gone from strength to strength.

Jedward's purchases included this
Britney Spears signed blazer

Their achievements so far include scoring a #2 single in the UK - and #1 in their native Ireland - with their debut single, a cover of Queen's Under Pressure... Then getting dropped by their record label... Then signing to Universal Records for a three-album deal the very next day.

As the duo get ready to embark on their first UK national tour, the Jedward Tour 2010, audiences continue to marvel at the twins' apparent lack of talent. Yet it has since emerged that there could be some shrewdness behind Jedward's tomfoolery and daft hairstyles...

According to recent press reports, John and Edward have made their first foray into alternative investments. The pair bid online on a number of exclusive memorabilia items in a recent auction, including Michael Jackson's old bed sheets for £3,000.

UK tabloid The Sun reports that the duo have an estimated £2 million in the bank and haven't bought "anything else" other than their new collectibles. 

Could it be that they're copying other high net worth individuals like Bill Gross, aka 'the Bond King', and putting their money into alternative investments?

Jedward's other purchases included Dean Cain's Superman costume from the '90s TV series (£4,375), and Britney Spears's signed blazer (£4,887).

Not as daft as they look? Jedward performing live at the O2 in 2010

The twins reportedly placed their bids in Julien's $3.2m auction via the internet - the sale actually took place in Macau. Compared to the top lot in the sale, a $50,000 black bejewelled Michael Jackson glove, Jedward have apparently opted for entry-level investments - a wise choice for first-time buyers.

John and Edward claimed that they bought the items to wear on stage during their upcoming tour. But unless one of the twins is planning to squeeze into Britney's autographed blazer, their buys suggest a financial motive.

Perhaps Jedward's team - which includes successful music impresarios Ashley Tabor and Louis Walsh - have encouraged the pair to hedge their finances in preparation for the up-and-down world of showbiz.



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