How much is Robert Redford worth?
| Net Worth: | $160 Million |
|---|---|
| Profession: | Professional Actor |
| Date of Birth: | August 18, 1936 (age 86) |
| Country: | United States of America |
| Height: | 5 ft 10 in (1.79 m) |
About Robert Redford
Robert Redford is an American actor who has been working in the industry for more than fifty years, and in that time he has won a closet full of awards, starred in some of the most iconic movies ever made, and has moved in to producing and directing his own movies. The actor is also known for founding The Sundance Film Festival, which focuses on shining a light on low budget independent American films, and it’s named after Redford’s character in Butch Cassidy and the Sundance Kid. Some of Redford’s other popular movies include The Sting, All The President’s Men, and Indecent Proposal.
Redford spent the final years of the 50s performing in plays and he quickly worked his way up the ranks, ending up starring in plays on Broadway. In the 1960s, Redford started acting in television, having minor roles in classic TV shows like The Twilight Zone, The Untouchables, Maverick, and Naked City. He earned more prominent roles as the 60s went on, being nominated for numerous Emmy Awards and Golden Globes, but it was in 1969 when he truly got his breakthrough role when he starred in one of the greatest movies of all time, Butch Cassidy and the Sundance Kid.
Butch Cassidy and the Sundance Kid is arguably the most acclaimed western film in history. It is the ultimate western story as it follows two outlaws being chased by a posse after a string of train robberies. The movie co-stars Paul Newman as Butch Cassidy and the two actors formed a great on screen partnership, and they were looked at as sex icons. The film is often ranked as one of the greatest movies of all time on countless listicles, and it was selected for preservation in the United States National Film Registry by the Library of Congress for being culturally and historically relevant.
After the crushing success of Butch Cassidy and the Sundance Kid at the worldwide box office, Redford and Newman teamed up once again for The Sting, which was also helmed by George Roy Hill, the director of Butch Cassidy’. The name is taken from the act of conning a mark who doesn’t realize they’ve been had until long after the con, and the film again follows the two actors as criminals, only this time it’s a much more casual affair. Though the movie isn’t as highly acclaimed as the duo’s previous collaboration, it was still well received by critics, made much more money at the box office, and it has a higher rating on IMDB.
Redford continued the streak of acting in well crafted Hollywood movies and he even shifted in to espionage thrillers. The next tent pole movie in the actor’s career was 1976’s All The President’s Men, which is a political thriller about the watergate scandal. This time Redford was cast alongside Dustin Hoffman and the film was nominated for several Oscars, was again selected for preservation by the Library of Congress, and it has such a legacy that there is even a two hour documentary about the film.
Surprisingly, Redford even jumped on the Marvel train, starring as the villain in Captain America: The Winter Soldier. However, it makes more sense than it does on paper, as Winter Soldier’ is an espionage thriller at the core.
Outside of acting, Redford has given back to the community and has kept the industry he loves thriving by starting the non-for-profit Sundance Film Festival. The actor used the financial proceeds from his career to purchase an entire area of Mount Timpanogos in Utah. Redford’s ultimate goal with the festival is to showcase American made movies created by filmmakers working outside of Hollywood.
In the early 70s, Redford was on a hot box office streak. It started with 1969’s Butch Cassidy and the Sundance Kid, which made more than $102.3 million worldwide with just a $6 million budget. Adjusted for inflation, the box office earnings are equal to $830 million in 2022 dollars. His second outing with Paul Newman did even better, as The Sting raked in $159.6 million globally. And, assuming that the $159.6 million box officer earnings has not already been adjusted for inflation somewhere down the line since its release in 1973. Then the movie actually made over $1 billion in 2022 dollars.
What’s more impressive is that The Sting’s budget was lower than Butch Cassidy’s too, at $5.5 million. For his role in The Sting, Redford’s salary was an estimated $500,000, which comes to more than $3 million adjusted for inflation today.
Though he saw tons of financial success in the 60s, 70s, and 80s, it was in the 1990s when Redford’s salaries would reach astronomical heights. Redford earned an estimated $8 million for Legal Eagles, an estimated $11 million for The Last Castle, and an estimated $5 million for Indecent Proposal.
Though the actor’s salary was significantly less than what he was used to at the time, Redford cleverly negotiated his way in to getting 15% of the net profit of the movie. As Indecent Proposal was one of the most successful movies in his career, making a gross profit of $266.6 million off a budget of $38 million, the actor banked an estimated $34 million because of his 15% profit-share, which was almost unheard of at the time.
Though he originally scored roles due to his great looks, it was the type of roles Redford selected that helped him create his outlaw brand. But whether he was playing a political news journalist or a western outlaw, many of Redford’s roles often share common themes even if they seem wildly different on paper. In the 60s all the way through to the 2000s, he was seen as a bankable star especially when it came to political movies. And Redford doesn’t mind strapping in to old-timey clothes, as he has starred in 11 period dramas.
Redford is great at building working relationships, as the most obvious being with Paul Newman, they share an on-screen charisma and chemistry that is unrivaled even today. The box office figures the made together show that all audiences wanted for the longest time was Newman and Redford as conmen for years to come. The Sting is even the only movie of Redford’s that he claims to enjoy watching, and even then, that’s reportedly due to Newman’s performance.
Redford’s Total Net Worth
Redford was earning giant salaries for movie parts from the early 2000s, like the $11 million dollars he earned for his role as General Irwin in The Last Castle. Almost ten years earlier he earned $4 million for his role as John (billionaire) in Indecent Proposal and, in total, he has earned about $150 million dollars from his appearances in films alone. He has also earned small sums from his appearances in almost 30 TV series, however, with only single episode parts the amount is negligible for this calculation.
Redford’s earnings have been majorly increased from his work as a producer. Having produced over 50 films and TV series has added around $90 million dollars to his career earnings, maybe more when including his directing work and other behind the scenes activities.
He has also earned another estimated $10 million dollars from his various endorsements, including with Sundance and various restaurants and so on. Overall, it is estimated that Robert Redford’s total career earnings have been around $250 million and he continues to produce movies even today.
Redford has been situated in California during his career and will have been subject to federal and also high state incomes taxes. That said, he could not have earned anywhere near the amount of money that he has done without having been situated in ground zero, Los Angeles. An explosion of opportunities for Redford were found in none other than his home state of California.
His tax bill will have likely been at around 49%. That is, because while taxes were far higher in the beginning of his career. Some 70% for earnings over $200,000. Most of his career earnings have been made post the Reagan tax cuts in 1981 and he actually earned well in times like the late 80s when federal taxes were capped at 28%. They were also capped at 35% for most of the 2000s.
After tax, it is estimated that Redford’s career earnings are at around $127.5 million, having paid $122.5 million dollars in taxes.
Robert Redford married Lola Van Wagenen in 1958 and they divorced some twenty-seven years later, in 1985. They had four children together, James, Amy, Scott Anthony and Shauna. Scott Anthony unfortunately died just months after his birth. It is estimated that between alimony payments, child support and spousal support, about $10 million dollars has gone in Lola’s direction. That is, considering his salaries when they were married were far smaller than afterwards. Redford earned $2 million dollars for his work on A Bridge Too Far in 1977. He would earn far more later on in his career and what is more he would have been taxed greatly on all of his earnings pre-1981 and even afterwards tax rates were as high as 50% up until 1987.
Redford later married Sibylle Szaggars in 2009 and they remain together.
In terms of investing his money, Redford has put some into real estate. For example his $7.5 million dollar property in The Napa Valley, he is also speculated to have earned far more from his other investments. At the time when Redford was earning so much, the stock market was all the rage. What is more, inflation was so high that it is concluded that almost every movie star of that era invested in securities, even just as a hedge against inflation.
As it would turn out the money invested in stocks and other securities will have seen massive appreciation. In fact it is estimated that Redford has earned some $50 million dollars in investment gains, even after deducting fees and likely losses. He will have also of course spent money on himself and his family but only likely in the region of around $6 million, that also of course includes personal losses and miscellaneous payments. Overall, that makes Robert Redford’s net worth at around $160 million.
“You go through such hardship, things that are almost impossibly difficult, and there’s no sign that it’s going to get any better, and that’s the point when people quit. But some don’t.” Robert Redford
Summing-Up
With a Broadway background and a passion for period dramas, Robert Redford is Hollywood royalty and his astonishing estimated net worth of $160 million doesn’t say anything different. The actor has had a hell of a career, and that’s why has won more than 40 awards, including a lifetime achievement Academy Award. Though he’s semi-retired, Redford is still acting (albeit briefly,) as he most recently reprised his role as Alexander Pierce in Avengers: Endgame, the highest grossing movie of all time. He also had a voice-only role in HBO’s adaptation of Watchmen.
