Faust is a tragic play in two parts by Johann Wolfgang von Goethe. It is considered by many to be Goethe's magnum opus and the greatest work of German literature. In this story, Faust is a man who is ambitious about knowledge and success. He decides to make a bargain with the devil. In exchange of all Faust desires, he promises to serve the devil.
The life of a celebrity can be considered a "faustian bargain." In exchange of material riches and fame, celebrities have to give up much of what is righteous and makes life worth living, such as meaningful connections with people, privacy, freedom of speech, independence, etc. They often have to "sell their soul" and pursue paths they did not desire (personally, financially, creatively) in order to maintain the riches and fame they have become dependent on. In this way, their path resembles that of Faust.