Norman Lear Net Worth
Norman Lear net worth: Norman Lear is an American television writer and producer who has a net worth of $200 million. Norman Lear accumulated his net worth by creating many hit television shows, which he also produced and wrote. He is best known for producing the shows All in the Family, Sanford and Son, The Jeffersons, One Day at a Time, Good Times, and Maude.
Career: Norman Milton Lear was born in New Haven, Connecticut in July 1922. When he was 9, his father went to prison after being convicted of selling fake bonds. His father and mother would later serve as inspirations for the parents on All in the Family. Norman served in World War II in the United States Army Air Forces.
After the war he pursued a career in public relations. He eventually moved his family to Los Angeles where he thought the opportunities would be bigger. He ultimately veered away from PR and became a comedy writer. He teamed up with a cousin's husband named Ed Simmons to form a comedy writing team. They eventually wrote skits for acts like Rowan and Martin and Martin and Lewis. In 1953, Norman and Ed were earning a record-breaking $52,000 a piece (the same as $500,000 in today's dollars) to write on three Martin and Lewis comedy specials.
In the late 1960s, Norman began shopping around a sitcom idea about a blue collar American family. In 1971 CBS finally bit, and ordered a pilot for what became All in the Family. The show officially premiered on January 12, 1971. Ratings were not good but the show won several Emmys in its first year, including for Outstanding Comedy Series. After picking up some steam over the summer re-run period, the second season debuted to major numbers and would go on to be the highest-rated show on TV for the next 5 years.
In 1972 Norman debuted his next show, Sanford and Son which ran until 1977. Other Lear-creations include Maude, Good Times, The Jeffersons and One Day at a Time.
Embassy Pictures and Coca Cola Sale: In 1982 Lear and Jerry Perenchio bought Avco Embassy Pictures. In 1985 they sold it to Columbia pictures for $485 million in shares of The Coca-Cola Company. Norman and Lear each received the pre-tax inflation-adjusted equivalent of $600 million from the sale.
In 1986, Norman Lear founded Act III Communications which produced movies like The Sure Thing, Stand By Me, The Princess Bride and Fried Green Tomatoes.
Personal Life: He was awarded the National Medal of Arts by President Bill Clinton in 1999. He purchased one of the first copies of the United States Declaration of Independence for $8.1 million in 2001. Norman Lear is a political activist who started People For the American Way in 1981. He supports First Amendment rights and started the nonpartisan nonprofit campaign Declare Yourself in 2004 and BornAgainAmerican.org in 2009. Lear has been credited with helping give many African Americans opportunities for television careers. Lear was honored at the 2017 Kennedy Center Honors.
He has been married three times and has six children. His first marriage to Charlotte Rosen lasted from 1944 to 1956. His second marriage to Frances Loeb lasted from 1956 to 1986. He has been married to Lyn Davis since 1987.
Divorce Settlement: Norman and his second wife Frances filed for divorce in 1985 after 28 years of marriage. Norman was ordered to pay Francis an unprecedented $112 million divorce settlement, the same as around $270 million today. Frances then spent $30 million of her settlement money (around $70m with inflation) to launch a magazine called Lear's which was focused on women over the age of 45. The magazine folded within six years.
Norman Lear's Real Estate: In 1995, Norman and his third wife Lyn spent $6.5 million on large mansion in the Brentwood neighborhood of Los Angeles. Sitting on 8 acres, the property has a 14,000 square-foot main home, guest house, pool, gym, spa, tennis, security offices and a 35-car garage. He listed the house for sale in 2015 for $55 million. In November 2019 he listed the home again, this time for a shade under $40 million.
Norman and Lyn also own a two-bedroom condo off Central Park in NYC, which they bought in 2008 for $10.2 million.
|Net Worth:||$200 Million|
|Date of Birth:||Jul 27, 1922 (98 years old)|
|Profession:||Screenwriter, Film Producer, Television producer, Television Director, Actor, Political activist|
|Nationality:||United States of America|