American filmmaker, screenwriter, and producer Steven Spielberg. The second-richest personality on the earth as of this writing is Steven Spielberg, who, after his good friend and fellow director/producer George Lucas (worth $10 billion), is worth $8 billion.
Steven Spielberg Net Worth: How Much Does He Earn Annually?
Steven Spielberg Net Worth is $4 Billion currently and he earns $150 Million per year. Steven typically chooses to accept a relatively small upfront compensation of $10 million for his own projects in exchange for backside points on the gross earnings.
One such arrangement for the 1993 film “Jurassic Park” netted Steven a $250 million payoff. That is equivalent to almost $360 million in today’s money. He received $75 million from the third film, which he did not even direct, and at least $150 million from the sequel.
For “Schindler’s List,” he famously refused to accept a salary, referring to any earnings as “blood money.” Instead, he ordered that all money owed to him forever be used to support the USC Shoah Foundation, which honors and remembers Holocaust survivors, in 1994.
Comcast/Universal Parks Agreement By Steven Spielberg
Steven Spielberg was able to negotiate a deal with the movie’s company, Universal Pictures, that ultimately resulted in hundreds of millions of Jurassic Park profits thanks to a particularly advantageous agreement reached in 1993. In reality, the agreement was with MCA, Universal’s parent company.
Early in the 1990s, Spielberg’s contract was up for renewal and MCA was bankrupt. MCA had to think outside the box since Warner Brothers made a significant offer that was nearly difficult to match financially. In the end, Spielberg was able to reach an agreement that gave him the right to receive 2% of all Universal Park GROSS ticket sales annually for the rest of time.
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Details of this agreement were made public decades later, in 2009, amid a Disney and Dreamworks legal dispute. According to court documents, Steven gave Dreamworks a loan of $15 million to help the production company survive. Spielberg just signed a 2% Universal deal worth $30 million per year, according to a footnote in the case. The sums are referred to as “consulting fees”.
Let’s go to 2015 now. By this time, Comcast, a publicly traded company, owned Universal. By this time, Universal had opened a number of theme parks abroad, and each one gave Steven a share of the proceeds from ticket sales.
Comcast was compelled to declare that in 2017 it could owe Spielberg as much as $535 million due to a buyout clause in the deal as part of a Securities filing on business risks and anticipated costs.
Spielberg did not make use of the buyout clause in 2017. Instead, the two parties reached an agreement on a new arrangement in which Comcast acquired a stake in Spielberg’s production company, Amblin Partners, in exchange for a potential payment of over $1 billion.
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