Merv Griffin Net Worth

What Was Merv Griffin's Net Worth, Salary, and Royalties?

Merv Griffin was an American television host, musician, actor, producer, and business tycoon who had a net worth of $500 million at the time of his death in 2007. Griffin was best known for hosting "The Merv Griffin Show" and creating two of the most successful game shows in television history: "Jeopardy!" and "Wheel of Fortune."

Griffin's fortune extended far beyond television. He built a sprawling business empire that included production companies, luxury hotels, resorts, casinos, and valuable real estate. He also earned an extraordinary amount of money from royalties, including more than $70 million during his lifetime from the "Jeopardy!" theme song alone.

It has frequently been claimed that Merv Griffin was a billionaire at the time of his death. Griffin often downplayed that estimate and maintained that he did not know the true value of his estate because the knowledge "would keep me from sleeping at night."

The $1 billion figure appears to have originated around 2003, during a particularly strong period for real estate valuations. According to a lawsuit later filed by his only son and heir, Tony Griffin, Merv's estate was worth approximately $140 million when he died. His estate subsequently paid around $50 million in estate taxes.

It is possible that the $140 million figure represented only the portion of Griffin's assets that was liquidated or subject to estate taxes. Tony inherited Merv Griffin Entertainment and The Griffin Group. Under the terms of the inheritance, Tony was entitled to 60% of the profits if either company was sold, along with a minimum annual distribution of $2 million.

In 1986, Griffin sold his production company and the rights to "Jeopardy!" and "Wheel of Fortune" to Columbia Pictures Television, then owned by The Coca-Cola Company, for $250 million. He retained continuing profit participation in the shows, making the transaction one of the most lucrative deals ever completed by an individual television producer.

Griffin also accumulated a major real estate portfolio. At various times, he owned the Beverly Hilton Hotel, Resorts International, a resort and casino in the Bahamas, a luxury resort in Palm Springs, an Irish country estate, and several personal mansions and ranches.

"Jeopardy!" Theme Song Royalties

One of Griffin's most valuable creations was not a television show but a short piece of music.

Griffin composed "Think!," the familiar tune played during the Final Jeopardy round, as a lullaby for his son. He later adapted it for "Jeopardy!" and reportedly wrote the melody in approximately 30 seconds.

In a 2005 interview with "The New York Times," Griffin revealed that he had already earned between $70 million and $80 million in royalties from the "Jeopardy!" theme song.

With the song continuing to appear in episodes, commercials, licensed products, and other media after his death, the cumulative royalties paid to Griffin and his heirs have almost certainly exceeded $100 million.

Merv Griffin Enterprises

Griffin formed the company that eventually became Merv Griffin Enterprises in 1963. It was initially called Milbarn Productions and was later renamed Merv Griffin Productions.

Through the company, Griffin developed, produced, and owned his television programs. His insistence on maintaining ownership proved crucial to his eventual fortune. Rather than working solely as an employee or on-air personality, Griffin controlled the underlying intellectual property behind many of his biggest successes.

In 1986, Griffin sold the company to Columbia Pictures Television for $250 million. At the time, it was the largest acquisition of an entertainment company owned by a single individual.

Although he sold the company and its programming library, Griffin retained creator credit and a continuing financial interest in "Jeopardy!" and "Wheel of Fortune."

The Griffin Group

In September 1988, Merv formed The Griffin Group, which eventually controlled seven businesses. Its two most important divisions were Merv Griffin Hotels and Merv Griffin Productions.

At various times, Merv Griffin Hotels owned nearly a dozen luxury properties, including:

• The Scottsdale Hilton
• The Beverly Hilton
• The Wickenburg dude ranch in Arizona
• The Blue Moon Hotel in Miami

Merv Griffin Productions produced events including the Golden Globe Awards and developed additional television and entertainment projects.

Griffin's other businesses included a ranching company that bred and trained horses, a cosmetics venture with Princess Elizabeth of Yugoslavia, and Merv Griffin Entertainment, which developed movies and television shows.

In 1987, Griffin purchased the Beverly Hilton Hotel in Beverly Hills. He continued acquiring hotels and resorts, including the Paradise Island Resort and Casino in the Bahamas, which he purchased from Donald Trump for $400 million and later sold for $125 million.

His portfolio also included the Merv Griffin Givenchy Resort & Spa in Palm Springs, which later became The Parker, and St. Clerans Manor, a boutique hotel located on an 18th-century estate near Craughwell in County Galway, Ireland.

At the height of his real estate buying spree, Griffin's fortune was estimated at $1.2 billion in 2003. That would be equivalent to roughly $2 billion today after adjusting for inflation.

Not all of Griffin's investments were successful. In December 1989, Resorts International Inc., the hotel and casino company he had acquired the previous year, filed for bankruptcy protection. The company controlled casino properties in Atlantic City and the Bahamas.

Johnny Carson Wealth Comparison

In a 1998 interview with "Vanity Fair," Merv discussed the difference between his business model and that of Johnny Carson:

"You see, I never publicized my money. But I always owned my show. That was the difference. Johnny came to me once and asked me how he could make the kind of money I was getting. I said, 'Own your own show, buddy.' Johnny was basically an employee of NBC. He couldn't own Tonight because NBC created it with Steve Allen. So, today, I'd say Johnny has about $10 million. Remember, in California, you give half of your money away in a divorce, and he's had three, and the last one got him good. I'd say Johnny's house out in Malibu is probably his main asset."

As it turned out, Carson was worth far more than Griffin estimated. Following Carson's death in 2005, an IRS disclosure revealed that he had left behind a charitable foundation worth $156 million. By 2014, the foundation's assets had grown to approximately $200 million.

Early Life

Mervyn Edward Griffin Jr. was born on July 6, 1925, in San Mateo, California. His father was a stockbroker, and his mother was a homemaker.

Raised in an Irish-American Catholic family, Griffin developed an early interest in music. He sang in his church choir and learned to play the piano.

Griffin graduated from San Mateo High School in 1942 and continued his education at San Mateo Junior College and the University of San Francisco.

He did not serve during World War II because a slight heart murmur caused him to fail several military physical examinations. By the time he was deemed healthy enough to serve during the Korean War, he was older than 26 and therefore exempt from the draft.

Music and Film Career

Griffin began his professional career at age 19 as a singer on the nationally syndicated radio program "San Francisco Sketchbook."

After bandleader Freddy Martin heard Griffin perform on the program, he invited him to tour with his orchestra. Griffin remained with Martin's orchestra for approximately four years.

By 1945, Griffin had saved enough money to establish his own record label, Panda Records. The label released "Songs by Merv Griffin," which was described as the first American album recorded on magnetic tape.

Griffin continued performing in nightclubs and was eventually noticed by Doris Day, who helped arrange a screen test for him at Warner Bros. Although Griffin did not receive the role for which he initially auditioned, the test led to supporting parts in movies including 1953's "So This Is Love."

Television Hosting Career

Griffin transitioned from music and acting into television during the 1950s.

From 1958 to 1962, he hosted the game show "Play Your Hunch." He also became a frequent substitute for Jack Paar on "The Jack Paar Tonight Show," where his appearances generated some of the program's highest ratings.

NBC subsequently gave Griffin his own daytime talk show. It debuted on October 1, 1962, the same day Johnny Carson began hosting "The Tonight Show."

Griffin later launched a syndicated version of "The Merv Griffin Show," which aired from 1965 to 1986. The program featured celebrity interviews, musical performances, comedians, politicians, and cultural figures.

Over its 21-year syndicated run, "The Merv Griffin Show" won 11 Emmy Awards and established Griffin as one of the most influential talk-show hosts of his generation.

Creating "Jeopardy!" and "Wheel of Fortune"

Griffin's greatest financial success came from creating and owning game shows.

He developed "Jeopardy!" for NBC in 1964. The program was initially called "What's the Question?" before Griffin and the network settled on its more recognizable title.

The original version of "Jeopardy!" ended in 1975, but the show was later revived. Its syndicated version became one of the longest-running and most successful game shows in television history.

Griffin also created "Wheel of Fortune," which premiered on NBC in January 1975. The original daytime version eventually ended, but a syndicated edition launched in 1983 and became an enormous ratings and licensing success.

Griffin's production companies also developed or produced several related and original game shows, including:

• "Wheel 2000"
• "Jep!"
• "Rock & Roll Jeopardy!"
• "Click!"
• "Headline Chasers"
• "Merv Griffin's Crosswords"

"Merv Griffin's Crosswords" debuted in 2007 and was produced in association with Program Partners and the William Morris Agency. The syndicated show lasted one season and ended in 2008.

Game Show Salaries

The extraordinary staying power of "Jeopardy!" and "Wheel of Fortune" has generated enormous salaries for the television personalities who became the public faces of Merv Griffin's creations.

Before retiring from the syndicated version of "Wheel of Fortune," longtime host Pat Sajak earned approximately $15 million per year. His longtime co-host was paid far less for many years. Vanna White's "Wheel of Fortune" salary remained at $3 million annually for nearly two decades before eventually rising to an estimated $10 million per year.

Ryan Seacrest, who succeeded Sajak as the show's regular host, is believed to earn between $10 million and $15 million per year from "Wheel of Fortune."

The hosts of "Jeopardy!" have also earned substantial compensation. During the final years of his career, Alex Trebek earned approximately $18 million per year. His eventual successor, Ken Jennings, earns an estimated $4 million per year.

Those salaries offer a striking illustration of the long-term value of Griffin's creations. Decades after he sold his production company, "Jeopardy!" and "Wheel of Fortune" continued generating enough revenue to pay their leading personalities millions of dollars annually.

Kevin Winter/Getty Images

Personal Life and Death

Merv Griffin was married to Julann Wright from 1958 to 1976. They had one child, Tony Griffin.

Griffin was first diagnosed with prostate cancer in 1996. The disease returned in 2007, and he was hospitalized at Cedars-Sinai Medical Center in Los Angeles.

Merv Griffin died on August 12, 2007, at the age of 82.

La Quinta Mansion

In 1986, Griffin completed construction on an extraordinary estate in La Quinta, California.

The property originally covered more than 200 acres. Before his death, Griffin sold approximately 160 acres, which were eventually developed into a planned community called Griffin Ranch.

The remaining portion of the estate included approximately 10,000 square feet of living space, an equestrian compound with a racetrack, an infinity pool, and a 2.5-acre lagoon.

The 1,200-square-foot living room featured four 20-foot live palm trees beneath a retractable domed skylight. Griffin kept approximately 50 horses at the property's equestrian facilities during his lifetime.

In June 2012, the estate was listed for $9.5 million. After the main residential portion was reduced to 6.5 acres, it sold in 2013 for $7 million to real estate investor Mark Majerovic.

An additional 33 acres associated with the property were zoned for the potential development of as many as 78 single-family homes. Majerovic listed the estate for $36 million in April 2024.

Here is a video tour from its 2012 listing:

Other Personal Real Estate

In addition to his La Quinta estate and extensive hotel holdings, Griffin owned a ranch in California's Carmel Valley and a primary mansion in Beverly Hills.

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