Spielberg came from a poor family and had a big imagination and a dream when he was a boy. Steven Spielberg was born in Cincinnati, Ohio, on December 18, 1946.
His mother, Leah Adherer, was a concert pianist, and his father, Arnold Spielberg, was a computer-developing electrical engineer.
Steven lived in Haddon Heights, New Jersey, and Scottsdale, Arizona, when he was young. Spielberg used to make 8mm short films in Scottsdale when he was a teenager.
At age 12, he made his first movie by filming his toy Lionel trains colliding. Even back then, Spielberg had the nerve to charge local kids 25 cents to see one of his movies. “Escape to Nowhere,” a 40-minute war movie Spielberg made when he was 13, won an award.
At age 16, he made his first full-length movie, “Firelight,” which he showed at the theatre near his home. The science fiction movie later influenced the famous “Close Encounters of the Third Kind.”
His parents got a divorce, which was sad, and he moved with his father to Saratoga, California, where he went to high school and graduated.
After he graduated, he tried to get into the School of Theater, Film, and Television at the University of Southern California three times but was turned down each time. Instead, he went to California State University, Long Beach, and joined the Theta Chi Fraternity there.
Steven Spielberg Net Worth: How Rich Is He In 2023?
Spielberg is one of the most well-known and respected names in the business and one of Hollywood’s wealthiest producers and directors. Forbes estimates Steven Spielberg’s net worth at $4 billion. He has an annual income of around $150 million.
Steven often chooses a relatively low up-front salary, like $10 million, for his movies in exchange for back-end points on the gross sales. For the film “Jurassic Park,” one of these deals made Steven $250 million.
In today’s money, that’s about the same as $360 million. He made at least $150 million from the second movie and $75 million from the third movie, which he did not even direct.
He became famous for refusing to get paid for “Schindler’s List,” saying that any money he made was “blood money.” Instead, he told the USC Shoah Foundation in 1994 to use all the money owed to him forever to honor and remember Holocaust survivors.
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Universal Parks/Comcast Deal
Steven was able to get what turned out to be hundreds of millions of dollars from Jurassic Park thanks to an excellent deal he made with the film’s studio, Universal Pictures, in 1993.
The sale was with MCA, which owns Universal. At the beginning of the 1990s, MCA had no money, and Spielberg’s contract was up.
Warner Brothers made a generous offer that was almost impossible to beat in cash, so MCA had to get creative. Ultimately, Spielberg negotiated a deal that gave him 2% of all GROSS ticket sales at Universal parks every year for the rest of his life.
In 2009, during a court case between Dreamworks and Disney, the details of this deal became public. Legal records showed that Steven loaned $15 million to Dreamworks to help the studio stay open.
In a footnote to the lawsuit, it was said that Spielberg’s 2% deal with Universal was worth $30 million per year over the past few years. “Consulting fees” is what they are called.
2015 has come and gone. At this point, Comcast, a public company, owned Universal. At this time, Universal also ran several theme parks worldwide, and Steven got a cut of the ticket sales from all of them.
As part of a Securities filing about business risks and future costs, Comcast had to say that Spielberg could get as much as $535 million from the company in 2017 because of a buyout clause in the contract.
Spielberg did not use the buyout clause when 2017 came around. Instead, Spielberg and Comcast made a new deal in which Comcast bought a piece of his film studio, Amblin Partners, in a deal that could pay out more than $1 billion in the end.
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