How much is Randy Jackson worth?
|Net Worth:||$25 Million|
|Profession:||Professional Record Executive|
|Date of Birth:||June 23, 1956 (age 66)|
|Country:||United States of America|
|Height:||5 ft 8 in (1.73 m)
About Randy Jackson
Randy Jackson was born in Baton Rouge, Louisiana and showed his talents early learning to play the bass guitar at age 13. After studying music in Southern University, he found work with jazz, R&B, and soul artists, playing bass along with the likes of fusion violinist Jean-Luc Ponty and drummer Billy Cobham. Jackson’s first break was in 1983, when he joined the rock band Journey as a session bassist. He toured with the band and recorded for three years, until 1986.
As he continuing to work as a musician, Jackson also turned his talents and creativity to producing. Eventually cultivating skills and attracting bigger name artists, including Mariah Carey, Bruce Springsteen, Madonna, Bob Dylan and Elton John. By the mid-’90s, he had become one of the most sought-after producers in the business. With a resume of helping some of the biggest singers and rock stars record, perform and producing records; Jackson landed prestigious jobs at the top of the music industry. He was first hired as an executive for Columbia records. Four years later, he was recruited to head A&R at MCA Records.
Today, Jackson is best known as having been the longest-serving judge on the explosively successful hit reality TV series, American Idol. He has become one of the most recognized personalities on television with his signature remarks and helpful criticisms. However, while his career and earnings went through the roof, Jackson’s health suffered. Three years before the airing of the first season, in 1999, he had been diagnosed with type 2 diabetes. By 2003, with the stress of the show his condition had worsened and he underwent a gastric-bypass surgery. He lost 100 lb and made health and lifestyle changes that deeply impacted his life and exploded his career. He even wrote the books Body With Soul: Slash Sugar, Cut Cholesterol and Get a Jump on Your Best Health Ever.
Having substantially improved his health, Jackson went on to produce group dance competition and reality television show, America’s Best Dance Crew which premiered in 2008. However the show was eventually cancelled in 2012 by MTV after declining ratings. While winning an audience on television, Jackson maintained a heavy workload producing and recording artists as well as hosting a syndicated radio show called Randy Jackson’s Hit List. He also founded his own organization, Randy Jackson’s Childhood Obesity Foundation.
Jackson’s Total Net Worth
Randy Jackson earned $10 million for the first season of American Idol and remained with the show for a full thirteen seasons. While it may be expected that his salary will have increased season on season, it was actually reported to be $5 and $6.5 million per season in 2013. A similar amount to Paula Abdul, and about $30 million less than the paychecks that Cowell was receiving. Jackson has also earned as a record producer and from his return to American Idol and his other appearances, like Name That Tune. In total, he is estimated to have earned total career income of around $75 million dollars.
Of that amount, $3-5 million is expected to have been paid in business related costs. The remainder, $71 million, will have been taxed at a rate of around 47% as Randy Jackson has been residing in the state of California. After tax, it is estimated that his career earnings are at around $37.63 million dollars, having paid $33.37 million dollars in taxes.
Randy Jackson married Elizabeth Jackson some time in the ’80s and they divorced in 1990. As this was early in Randy’s career, it is unlikely that any amount in spousal support is relevant to this net worth calculation. However they had one child together, Taylor Jackson, and it is estimated that around $500,000 has gone in Elizabeth’s direction.
Randy later married Erika Riker in 1995 and they divorced 24 years later, in 2019. There was no prenuptial agreement signed, they share children together, Zoe and Jordan Jackson. In the time that they were together, Randy may have spent $6-9 million dollars, but also likely possessed assets of around $2-3 million dollars, as well as have realized investment returns in the region of $11-14 million dollars. As part of a settlement agreement it is estimated that Erika received in the region of $20 million dollars. Therefore, Randy Jackson’s net worth is estimated to be around $25 million dollars.
Grammy-winning producer Randy Jackson, has helped sell over 200 million albums worldwide. He became one of the most sought after music producers in the ’90s, and with his success on American Idol, he has since achieved unprecedented mainstream fame rarely seen by behind-the-scenes executives.