That’s show business at $1.75M a day

Press, 3 January 1985, Page 13

That’s show business at $1.75M a day

Who is the wealthiest star in show business? Researchers seeking the answer to this multi-million-dollar question came up with the director, Steven Spielberg. But Paul McCartney, Michael Jackson and Sylvester Stallone are not too far behind. CHARLES FRASER of Features International reports.

Who is the wealthiest man in show business, the man at the top of the ultra-exclusive pile of celebrities whose wealth can be calculated in mega-millions?

Studies conducted by pop and film pundits on both sides of the Atlantic over the last few months have revealed that show-biz’s biggest earner is someone who never even appears before an audience or a film camera. It is the writer-director Steven Spielberg, the brains behind such blockbusters as “Jaws,”- “ET,” “Raiders of the Lost Ark,” and “Indiana Jones and the Temple of Doom,” whose films make him a personal profit of at least $1.75 million a day. At least, that is the latest estimate. But, when asked to confirm that his movies have grossed around $2OOO million, Spielberg’s cautious comment is: “Anybody in

this business who knows exactly what he’s earning isn’t worth very much!”

Although he is some way behind, Paul McCartney could justifiably claim that he has become the world’s wealthiest musician. Recently, a leading financial economist worked out that the former Beatle’s personal fortune is around 51000 million — and almost every penny has come from his music. By hitting the right notes two decades ago, McCartney, now 43, is coining around $7500 in royalties for every hour of the 24-hour day, seven days a week! At that rate, he is earning $B7 million a year, even if he never writes another song or makes another record.

In fact, McCartney’s personal wealth would have been even more astronomical had he been able to retain rights to the Beatles’ music.

Unfortunately for him, that was owned by Northern Songs, which was snapped up by the impresario Lord Grade, and in turn sold to the Australian tycoon Robert Holmes

aCourt. However, McCartney cashed in by buying up rights to the late Buddy Holly’s hits, as well as copyright on successful musical shows like “Grease,” “Annie” and “A Chorus Line.”

The actors Sean Connery and Roger Moore have both made handsome killings — thanks to the James Bond epics. Connery’s career really took off when he starred as the first screen 007. Today, he is well into the multimillionaire class. From the recent Bond film “Never Say Never Again,” he claimed a $lO million fee, plus a hefty slice of the boxoffice profits. Roger Moore did not have much to complain about, either, when he played 007 in “Octopussy” — he was only about $2.5 million behind Connery when it came to collecting the cash.

Clint Eastwood takes a very philosophical approach to his fame and fortune. His career started when he worked as a 75-dollar-a--week contract actor on television. Now. he insists on collecting

49 per cent of every film he makes.

When he was recently asked how it felt to be a super-star worth a reputed $lOO million, he replied: “I suppose that’s not too bad for someone who studied acting on a diet of spaghetti westerns.”

The pop super-star David Bowie also sets the cash-tills ringing when he goes off singing on a world tour. Last year, he travelled the world, earning $75 million. In addition, his United States festival earned him $5 million. Billy Joel’s songs like “Uptown Girl,” “Just The Way You Are,” “Tell Her About It” and “The Longest Time” have grossed more than 40-million sales throughout the world. Within weeks of its release, his album “An Innocent Man” earned him more than $2.5 million. His albums average around five million sales each, and one — “The Stranger” — is the best-selling album ever produced by C.B.S. Records. Yet all Billy Joel says is: “I’ve no idea how much money I’m

making. It doesn’t make sense to me! There are so many zeroes after every number that the last time I tried adding it all up I became dizzy.” Michael Jackson is a new boy at the mega-money game compared with Billy Joel, but Jackson’s personal fortune is already more than $250 million, and he collects an unprecedented 42 per cent of the wholesale royalties of every record. His “Thriller” album’s 30-million world-wide sales have already won him about 30 platinum discs in half-a-dozen countries.

Sylvester Stallone has punched his way to the top of the big-money league. For writing, starring in and directing his film “Rocky III,” he received $ll million — in addition to his huge percentage of the boxoffice takings. Now, he believes that 1985 will be his best-ever year, because he will probably prove to be Hollywood's highest-paid actor. He hopes to collect around $37 million as a fee alone for working on “Rocky IV” — that is before the box-office

money rolls in. It has also been worked out that he will clean up at least $25 million from “First Blood.”

Larry Hagman might not be dragging in quite so many zeroes with the money from his contracts, but he is probably the world’s top television soap series star. Hagman collects more than $250,000 for every episode of “Dallas,” as well as repeat fees for overseas screenings. The J.R. merchandising of hats, belts, cosmetics and so on, brings him in another $2.5 million a year.

He is now so much in demand for personal public appearances throughout the world that he charges a minimum of $50,000 per engagement. On top of that, of course, the clients are also expected to pick up the tabs for his out-of-pocket and travel expenses. J.R. would be proud of him.