Norman Lear’s Net Worth: The TV Legend Has More Money Than You Think
Norman Lear is one of the most notable TV writers, directors, and producers in history, and his surprisingly high net worth definitely backs that up.
Lear will be honored with the Carol Burnett Award during the 78th annual Golden Globe Awards on Feb. 28, 2021, making him the third recipient after Burnett and Ellen DeGeneres. According to The Independent, the prestigious honor is bestowed on those who have provided “outstanding contributions to television on or off the screen.”
Lear has been credited with creating more diversity on television and has explored issues related to race, sexuality, abortion, and poverty via his iconic sitcoms including All in the Family, Good Times, The Jeffersons, and Sanford and Son. The Hollywood Foreign Press Association President Ali Sar praised Lear’s work as having “revolutionized the industry” in a statement.
But just how much is the 98-year-old TV legend and World War II veteran really worth? Keep scrolling to find out.
Here's how Normal Lear got most of his money
Norman Lear is worth $200 million, according to Celebrity Net Worth. He accumulated his seriously impressive net worth by creating several shows, as well as writing for them and serving as a producer.
Lear’s remarkable road to wealth began several decades ago when he created a comedy writing duo with his cousin Ed Simmons. Per Celebrity Net Worth, the two were paid “a record-breaking” $52,000 each — thought to be around $500,000 today — to write for three Martin and Lewis comedy specials in 1953, after which Lear set about pitching All in the Family to CBS. The show was picked up and debuted in 1971 to huge ratings success and stayed on air with new episodes for eight years. It was quickly followed by Sanford and Son and Maude in 1972.
But it’s not just TV that made Lear the multi-millionaire he is today, as Coca-Cola also played a part in his vast fortune. Keep reading to find out how.
Norman Lear also has Coca-Cola to thank for his riches
Norman Lear and his business partner Jerry Perenchio bought Avco Embassy Pictures in 1982. They sold it three years later to The Coca-Cola company, which owned Columbia Pictures. The Los Angeles Times reported that they received 40% in cash and the rest in The Coca-Cola company stock, with the deal said to be worth $485 million. The deal also included Tandem Productions, which had several TV shows produced by Lear under its umbrella.
Lear’s impressive net worth also comes from his production company Act III Communications, which he founded after the huge Coca-Cola sale. The company has produced big-time movies including The Princess Bride, Stand By Me, and Fried Green Tomatoes.
But Lear isn’t done yet. Deadline confirmed that the National Medal of Arts recipient has two projects in development with IMDb TV to be produced through Act III, including the Laverne Cox and George Wallace comedy Clean Slate.
Source: Read Full Article