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February 16, 2018

Steven Spielberg’s Net Worth

By Spear's

Steven Spielberg has spent 47 years writing and directing some of Hollywood’s most beloved films. He is credited with directing 39 films during this period, including Jaws, E.T., Saving Private Ryan, Schindler’s List and, most recently, The Post. His films have grossed more than £6.6 billion worldwide and have helped make him one of the richest filmmakers in the world, worth an estimated £2.55 billion. But what is Steven Spielberg’s net worth?

Spielberg’s movie career began at the age of 17 when a family friend helped him get an internship with Universal Studios. Although he was only meant to be working in the editing suite he managed to produce a short film Amblin which he presented to Sid Sheinberg, the vice-president of Universal Television. He was so impressed by the 30 minute short that he handed Spielberg a seven year contract with Universal – making him the youngest director to ever be hired by the film company.

Steven started out working on TV productions before eventually transitioning over to feature films. His first feature length film, Duel, had a budget of £32,000 and helped him to win the contract of ‘Jaws’, which Spielberg describes as his professional crucible. Jaws broke the record for the highest grossing film of all time and became the first film to make over $100 million at the box office, redefining the summer blockbuster.

Spielberg followed his initial success with a string of commercial hits including, Close Encounters of the Third Kind, Indiana Jones, and E.T., which went on to become the highest grossing film of all time. He later broke the record, yet again, with the release of Jurassic Park, which brought in £648 million during its initial run.

Despite several nominations from The Oscars he didn’t win the award for best director until the release of Schindler’s List, which picked up the 1994 best picture and best director awards. His next major recognition for direction came in 1999, following the release of Saving Private Ryan. His most recent release, The Post, stars Tom Hanks and Meryl Streep and has been nominated for the best picture award.

Steven Spielberg's Net Worth

Spielberg is also a shrewd businessman and several deals have seen him add to his movie franchise fortune.

Steven Spielberg’s close friend, George Lucas, went to visit him on the set of Close Encounters and was blown away by the quality of the production. Fearing that his own upcoming sci-fi would be a box office flop he offered Spielberg 2.5% of his films takings for 2.5% of Close Encounters. Lucas’s film was of course Star Wars and went on to be one of the most successful movies of all time. Spielberg has therefore made an estimated £28 million from what is surely one of the rashest wagers in history.

In the lead up to the release of Jurassic Park Spielberg agreed a deal to take 2 per cent of park ticket revenue from Universal Studios theme parks in return for his creative licences. The New York Post estimates that this deal could be worth £700 million.

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Spielberg is also one of the co-founders of the film production company Dreamworks, which was acquired by Comcast in 2016 in an estimated £2.7 billion deal. Spielberg made £140 million out of the arrangement.

In terms of assets, Spielberg’s LA home has an estimated value £26 million whilst his super-yacht, the 281ft long Seven Seas, is valued at £185 million. He sold his previous Malibu mansion for a reported £18 million.

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