Michael Richards Net Worth

How much is Michael Richards Worth?

in Richest CelebritiesActors
Michael Richards net worth:
$45 Million

Michael Richards net worth and salary: Michael Richards is an American actor who has a net worth of $45 million. Michael Anthony Richards was born July 24, 1949 in Culver City, California. He is an American actor and comedian, best known for his role as Cosmo Kramer on the hit 90's sitcom "Seinfeld". He attended the California Institute of the Arts, but graduated with a BA in drama from The Evergreen State College in 1975. During this time period he also had a short lived improv act with Ed Begley Jr. During the Vietnam War he was drafted, and served in the Army for 2 years. He got his first big TV break in 1979, appearing on Billy Crystal's first cable TV special. His role as Kramer came in 1989. The show got off to a slow start, but by the mid 90s it had become one of the most popular sitcoms on TV and eventually became one of the most profitable shows of all time. Richards won more Emmys than any other cast member, taking home the award Outstanding Supporting Actor in a Comedy Series in 1993, 1994, and 1997. Richards was also the original actor considered for the lead role on the show "Monk". Outside of TV, Michael made memorable appearances in the films Air Heads, Coneheads, and UHF. For a short time he was married to former casting director Cathleen Lyons, and they had a daughter together. They divorced in 1992. In 2007 Richards got engaged to actress Beth Skipp. He currently resides in Glendale, California.

Michael Richards Seinfeld Salary: For the first several seasons of Seinfeld, supporting cast members Julia Louis-Dreyfus, Michael Richards and Jason Alexander earned a nominal amount of money for their work on the show. They successfully negotiated raises before season 5 in 1993 that had them each earning $150,000 per episode, roughly $3.8 million per season. In May 1997, the supporting cast members held out for a massive raise, hoping for $1 million per episode. The network countered with $200,000, then $400,000. They ended up receiving $600,000 per episode for the show's final season, which worked out to around $15 million a piece. That's the same as earning around $24 million today. In total, before inflation, the supporting cast members earned approximately $45 million in base salary from Seinfeld.

Seinfeld Syndication Earnings: Contrary to popular belief, Julia, Michael and Jason do not make significant amounts of money from Seinfeld's syndication deals which have totaled nearly $4 billion as of this writing. In order to make money from syndication sales, one needs to have equity ownership percentage points on the show. The supporting cast did not ever receive backend points on the show. They do receive royalties from when the show airs, but these payments equate to hundreds of thousands per year at most, not millions as many assume. By contrast, Larry David and Jerry Seinfeld each earned $250 million in 1998 alone from syndication sales. Even a full decade later, Larry and Jerry were earning at least $50 million per year from syndication points.

While they were denied backend points in 1997, they were able to negotiate profit-sharing points on the DVD sales which resulted in a moderate windfall back when people bought DVDs.

Michael Richards Net Worth

Michael Richards

Net Worth:$45 Million
Date of Birth:Jul 24, 1949 (70 years old)
Gender:Male
Height:6 ft 3 in (1.91 m)
Profession:Comedian, Actor, Television producer, Screenwriter, Voice Actor, Writer
Nationality:United States of America
Last Updated:2019
All net worths are calculated through the combination of a robust methodology and a proprietary algorithm. The results are fact checked and confirmed by a team of editors and industry insiders. We work diligently to ensure that our numbers are the most accurate celebrity net worth data you will find anywhere on the internet.
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