How much is Steven Spielberg worth?
|Net Worth:||$6.68 Billion
|Date of Birth:||December 18, 1946|
|Country:||United States of America|
Who Is Steven Spielberg
After being in the movie industry for 50 years, Spielberg has created movie archetypes and genres, and even began trends that continue 50 years later. The two-time Academy Award winning director has made movie stars out of Harrison Ford, Leonardo DiCaprio, and others, and he never sticks to one genre, making some of the best war movies, dramas, thrillers, and action movies of all time. The director is also a master producer whose films almost always yield massive box office results thanks to Spielberg being dead on point with budgets and casting decisions. Spielberg is best known for his movies Jaws, the Indiana Jones series, Jurassic Park, and other iconic films that will live on forever in pop culture.
As of 2020, Steven Spielberg has a net worth of $6.68 billion dollars.
How Did Steven Spielberg Get So Rich?
With his production company Amblin Studios, Spielberg has executive produced dozens of financially successful movies. Most notably, Spielberg is the executive producer of the Transformers series, which is spearheaded by action movie director, Michael Bay. The series has grossed close to five billion dollars worldwide over the course of five movies and a spin-off, with the apex of the series being Transformers: Dark of the Moon, which grossed $1.12 billion. As Transformers began only as a series of toys, with their presence in entertainment coming after, the Transformers movie series has become its own thing and people have forgotten that the movies are based on the toys.
That isn’t the only franchise of which which Spielberg controls the finances on. Spielberg sets up more franchises than the McDonalds “founder” Ray Kroc. His very own movie, The Raiders of The Lost Ark, started the Indiana Jones series. The franchise has made almost $2 billion, and even though the fourth entry, Indiana Jones and the Kingdom of the Crystal Skull, is critically derided, it was the highest grossing movie of them all, making close to $800 million globally. A fifth installment of the series is currently in production. Many of Spielberg’s other productions have gone on to be cash cow movie franchises too, as Jurassic Park is currently the most successful, earning a total of $5 billion, with another sequel again being in production.
Many people forget that making movies is a business more than it is an art, and Spielberg makes a lot of tough business decisions that might hinder the quality of the movie, but also helps the film’s financial success. There have been multiple reports that directors have gone to Spielberg, the executive producer of the movies, to ask for more money so they can add better sequences to action scenes, but Spielberg refused because it would add to the budget. This has worked on several occasions, as Men In Black II, which was panned, made over $400 million, and Eagle Eye, which was reviewed negatively for its plodding pacing, made $180 million. And the list goes on.
Why Is He So Famous?
Though Spielberg had made Duel in 1971, a movie that is one giant chase sequence between an 18 wheeler and a sedan, Spielberg’s career and legacy really kicked off four years later with the release of Jaws. Despite there being major issues on the movie set and one of the two animatronic sharks even drowning during in the making of the movie, the film was the first ever summer blockbuster and made close to $500 million off a tiny budget of $9 million. Adjusted for inflation, that $500 million would be worth $2.5 billion today.
After that string of thrillers, Spielberg expanded on his vision and set his sights on sci-fi, a genre that has been beloved to the director throughout his entire career. He followed up Jaws with Close Encounters of the Third Kind, and then with the more family friendly and digestible E.T.: The Extra Terrestrial, which grossed almost $800 million worldwide. Spielberg’s sci-fi ventures continued all the way up to 2018 with the release of Ready Player One, which was somewhat of a love letter to the genre, as the movie was a crossover that featured films that Spielberg had a hand in making over the years, including Back to the Future, The Iron Giant, Jurassic Park, and more.
It was in the mid 80’s when Spielberg moved in to more iconic territory, as he birthed the idea of Indiana Jones, with the help of George Lucas, the creator of Star Wars, who has written every movie in the series. Jones’ look combining his fedora and a whip turned the most unflattering profession ever, an archaeologist, in to the sexiest thing ever. To this day, Indiana Jones is a Halloween outfit of choice and has inspired dozens of imitators in movies and video games, including National Treasure and the Uncharted series.
With so many movies under his belt and with so many of them being blockbuster thrill rides, it’s easy to forget that Spielberg is one of the best drama directors there has ever been. He directed the crime biopic Catch Me If You Can,the political drama Lincoln, and many others. Spielberg’s movies have won a total of 34 Academy Awards, and the director has won two himself for Best Director for Schindler’s List and Saving Private Ryan.
What Makes Spielberg So Successful?
One of the many archetypes that was completely invented by Spielberg is the idea of escapist movies; films with a charismatic lead that audiences can live through vicariously. This can be seen best in the Indiana Jones franchise, and even in the drama Catch Me If You Can, were a young and highly intelligent criminal jet-sets around the world using the banks’ money. And though Spielberg is an auteur, he never sticks to the same genre. His best films range from war films such as Saving Private Ryan and Warhorse, to action movies such as the Indiana Jones franchise, to sci-fi movies including War of the Worlds, Minority Report, and A.I.: Artificial Intelligence.
Though Spielberg isn’t always correct, as he predicted years ago that the superhero genre would go the way of the western by killing itself from over saturation, which didn’t happen, superhero movies wouldn’t be as successful as they are today if it wasn’t for Spielberg. The director singlehandedly created the summer blockbuster. Though blockbuster movies are now released all year round because there are so many coming out, and there’s only so much movie theater real estate in the year, up until a couple of years ago blockbuster movies were only released in the summer. This started with Jaws in 1976, which began an everlasting trend of having a simple high concept movie that would garner massive returns at the box office. It was a watershed moment in the industry and it established the modern Hollywood business model.
As Spielberg has created archetypes that paved the way for high concept movies to be successful today, the director webbed together a whole mess of billion-dollar franchises, earning him an estimated net worth of more than 6.68 billion dollars! It is estimated that Spielberg makes roughly $140 million per year, and that’s going to jump in December, as he is currently prepping the release of his West Side Story remake. The movie has been in development for years, and is set for release this holiday season.