Saturday, 25 February 2017

America's Richest Celebrities 2016


GOLF. RHYMING VERSE. Even fancy card tricks: There are innumerable ways to earn great fame and fortune by entertaining people, and no one has done it better than the 20 on this diverse list. It’s our first-ever tally of the country’s wealthiest celebrities, and we had just one criterion: We considered only those who got rich off their fame, not those–such as the president-elect–who became famous because of their wealth.

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Topping the list: George Lucas, who boasts a $4.6 billion net worth , much of it from selling his company to Disney in 2012. The Star Wars creator has largely retired from filmmaking and now has little to do with the franchise—including this year’s highly anticipated installment, Rogue One—but still owns the reportedly 6,000-acre Skywalker Ranch in Marin County, California.
He edges second-ranked Steven Spielberg ($3.7 billion), who makes the cut thanks largely to a fortune earned with his personal production companies, from DreamWorks to current project Amblin Partners. It helps that the famed director has pocketed a slice of Universal theme-parks revenue since 1987, when he negotiated a blockbuster deal after hits like E.T. and Jaws.

Hollywood features heavily: The top three richest and 20% of the members of the list made their fortunes in filmed entertainment. Take America’s wealthiest female celebrity, Oprah (No. 3, $2.8 billion): Ratings at the former talk-show queen’s OWN cable network finally rose this year, but Weight Watchers stock–of which she owns 10%–is suffering.

She is one of six African-Americans on our list of 20 , just ahead of fourth-ranked sneaker king Michael Jordan ($1.2 billion) and Diddy (No. 6, $750 million). The latter has parlayed 1990s hip-hop stardom into a diversified empire, including a lucrative partnership with Diageo’s Cîroc vodka.

“You associate the name with the product,” says Eric Schmidt, director of alcohol research at Beverage Marketing Corporation, of Diddy’s involvement with Cîroc. “And the thing really took off.”

Diddy is joined by fellow rappers-turned-moguls Dr. Dre (No. 8; $710 million) and Jay Z (No. 11; $610 million). They comprise three of eight musicians on the ranking, most of whom have years of touring to thank for their net worths. Not on the list: Beyoncé, whose $265 million net worth pegs her below the $360 million cut off for this ranking.
“From his earliest days playing tiny clubs like The Main Point and the Stone Pony to today’s stadium shows, for over 40 years Bruce Springsteen has shown himself to be one of the most dynamic concert entertainers in the business,” said entertainment attorney Bernie Resnick of the hard-working rock star (No. 14; $460 million), who has grossed more than $1.5 billion on the road. “The income generated from extensive touring on such a massive scale has to be highly beneficial to Mr. Springsteen’s financial well being.”

Live shows help more than just musicians: David Copperfield makes the list from decades of conjuring cash. The illusionist has turned his earnings into the world’s largest collection of magic artifacts and a formidable real estate portfolio that includes an enclave of 11 Bahamian private islands.

Tiger Woods may not have a stash of enchanted antiquities, but he does own a $60 million property in Jupiter Island, Florida. With a net worth of $740 million, the 40-year-old golfer is the youngest member of the list. Besides Jordan, Phil Mickelson is the only other athlete to make the cut.

To compile net worths, we valued those who hold private companies by speaking with an array of outside experts and conservatively comparing the companies with public competitors. We calculated the stakes in public companies using stock prices from December 5. For entertainers without private companies, we based our estimates on net lifetime earnings. Real estate, art and other assets–such as magic collections–were also factored in where applicable. Eligibility for this list was limited to American citizens who have gotten rich off their fame, rather than become famous for their wealth. We attempted to vet these numbers with all list members. Some cooperated; some didn’t.


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