norman lear net worth

Norman Lear Net Worth: How Rich the American Television Personality Is in 2022?

All in the Family, Maude, One Day at a Time, Good Times, The Jeffersons, and Sanford and Son are just a few of the ground-breaking sitcoms that Norman Milton Lear, an American writer, producer, and political activist, is credited with producing. Lear shared ownership of Tandem Productions, T.A.T. Communications, Avco Embassy Pictures, and Embassy Communications, Inc. at various points in time.

Later, he established Act III Communications, a company that created movies including “The Sure Thing” and “The Princess Bride.” He currently serves as the company’s chairman. Lear established People for the American Way, a group promoting liberal ideals and self-described “liberal.”

He was a part of the “Malibu Mafia,” supports the First Amendment, and was a silent partner in “The Nation” magazine. He worked on more than 70 projects during the course of his lengthy career. He was honored with many prizes, including the National Medal of Arts. Additionally, he was one of the original seven members of the Television Academy Hall of Fame.

Early Life and Career Beginnings:

norman lear net worth

In a Jewish family, Norman Lear was born in New Haven, Connecticut, in 1922. His mother was Jeanette, and his father, a traveling salesman named Hyman, raised him. His sister Claire, who was younger, was his only sibling. Lear’s father was imprisoned for promoting false bonds when he was nine, and while tinkering with his radio, he came across the anti-Semitic Catholic radio priest Father Charles Coughlin.

The earlier incident later inspired Lear’s lifelong dedication to lobbying, while the latter incident later inspired the character of Archie Bunker. Lear attended Emerson College in Boston after earning his high school diploma from Hartford, Connecticut’s Weaver High School in 1940. He left, nonetheless, in order to join the US Army Air Forces in 1942. He performed 52 combat flights while serving in the Mediterranean theatre as a radio operator and gunner, receiving the Air Medal.

After the war, Lear pursued a career in public relations before relocating to Los Angeles, California, to live with his cousin Elaine. Lear sold furniture door-to-door together with Elaine’s husband, budding comic writer Ed Simmons. The duo produced comedic skits for Rowan and Martin, Martin and Lewis, and other shows throughout the 1950s. In 1953, Norman and Ed were writing for three Martin and Lewis comedy specials for a record-breaking $52,000 each (equivalent to $500,000 today).

Lear was hired as a writer for the brand-new CBS sitcom “Honestly, Celeste!” in 1954, but the program was quickly canceled. Lear also started producing the brief sitcom “The Martha Raye Show” at this time, and he also contributed some opening monologues to “The Tennessee Ernie Ford Show.” In 1959, Lear launched his first television program, the Henry Fonda Western “The Deputy.”

Norman Lear Net Worth 2022

In 2022, Norman Lear‘s net worth is anticipated to be $200 million. He is an accomplished writer and producer for American television. He brings in about $5 million annually.

Jerry Perenchio and Norman Lear acquired Avco Embassy Pictures in 1982. They traded $485 million in shares in the Coca-Cola Company for it in 1985 when they sold it to Columbia Pictures. Norman and Lear each received the equivalent of $600 million from the transaction before taxes and inflation.

In 1985, Norman and his second wife, Frances, sought a divorce after 28 years of marriage. Norman was required to pay Francis a divorce settlement of $112 million, or almost $270 million in today’s dollars. This was the largest divorce settlement ever paid.

Subtract Norman Lear’s total liabilities from his total assets to determine his net worth. The total assets comprise his investments, savings, cash deposits, and whatever equity he may have in a home, automobile, or another such item. Total liabilities encompass all obligations, including credit card debt and student loans.

Name:Norman Lear
Net Worth:$200 Million
Monthly Salary:$300,000
Annual Income:$5 Million
Source of Wealth:Screenwriter, Film Producer, Television producer, Television Director, Actor, Political activist

Also Read: Paul Newman Net Worth: How Rich the American Television Personality Is in 2022?

Television in the 1970s:

norman lear net worth

Lear tried to pitch an idea for an ABC sitcom about a blue-collar family after writing and producing the 1967 comedy “Divorce American Style” and directing the comedy “Cold Turkey.” After two pilot episodes, the network rejected the program; however, after a third, CBS decided to air the program, which was dubbed “All in the Family.” Despite having low ratings when it first aired in 1971, the show went on to win several Emmy Awards, including the Outstanding Comedy Series. Reruns in the summer months increased the show’s ratings, and by the following season, it was thriving. “All in the Family” was the most popular television show from 1972 until 1977. The program changed into the spinoff series “Archie Bunker’s Place” after concluding in 1979.

Lear produced a number of other popular sitcoms throughout the 1970s. NBC’s “Sanford and Son,” which follows a working-class African-American family in Los Angeles’ Watts area, and CBS’s “Maude” and “The Jeffersons,” all of which are spinoffs of “All in the Family,” were among them. The later sitcom, which aired from 1975 to 1985, is still among the longest-running in the annals of American television. Along with “Maude,” Lear also created “Good Times” and “One Day at a Time.” He created the cult classic “Mary Hartman, Mary Hartman” in 1976 after the networks had rejected it as being too contentious. Lear cofounded T.A.T. Communications, one of the most prosperous independent television producers of the 1970s, along with talent agency Jerry Perenchio in addition to these series.

A career in The 80s:

Lear began a 14-month stint in 1981 as the host of the 40s-era popular game program “Quiz Kids.” The next year, he created a television special called “I Love Liberty” with the intention of confronting right-wing organizations. Lear founded Act III Communications, a media firm, in 1986. Act III Communications produced a number of movies, including “The Sure Thing,” “Stand By Me,” and “The Princess Bride” by Rob Reiner.

Also Read: Jennifer Lopez Net Worth 2022: How Rich the American Television Personality Is in 2022?

A Career in The 1990s and Beyond:

norman lear net worth

Lear made a comedic comeback in the 1990s with the sitcoms “Sunday Dinner,” “The Powers That Be,” and “704 Hauser,” but none of the shows was a commercial hit. Lear and Jim George co-produced the Saturday morning animated children’s program “Channel Umptee-3” in 1997. It received positive reviews but was canceled after one season owing to poor viewership.

Even in his senior years, Lear kept making contributions to the media. He served as executive producer of the “One Day at a Time” Netflix revival in 2017. He started a podcast called “All of the Above with Norman Lear” the same year as well.

Political Activism:

Beyond his accomplishments in film and television, Lear has long supported liberal causes. He was a wealthy Jewish man who participated in the “Malibu Mafia” in the 1970s and 1980s, a group that raised money for liberal causes and politicians. Lear established the advocacy group People for the American Way in 1981 as a response to the Christian right.

Reagan’s 1987 nomination of Robert Bork to the Supreme Court was successfully blocked by the group. Lear later established the Industry Enterprise Trust, a training initiative that emphasized social improvements in American business, in 1989. He endowed the Normal Lear Center for Multidisciplinary Research and Public Policy at USC in 2000, earning it the name. Lear founded the non-profit initiative Declare Yourself to urge eligible young Americans to register and vote, among other things.

Personal Life:

President Bill Clinton presented him with the National Medal of Arts in 1999. For $8.1 million, he paid for one of the original copies of the American Declaration of Independence in 2001. Political activist Norman Lear founded People For the American Way in 1981. He advocates for the right to free speech and in 2004 and 2009, respectively, he founded the nonprofit initiative Declare Yourself and BornAgainAmerican.org. Many African Americans have been given possibilities for television professions thanks in part to Lear. At the 2017 Kennedy Center Honors, Lear received recognition.

He has six kids from three different marriages. From 1944 to 1956, he was married to Charlotte Rosen. From 1956 through 1986, he was married to Frances Loeb in his second marriage. Since 1987, he has been wed to Lyn Davis.

Also Read: Neil Patrick Harris Net Worth: How American Actor Become so Rich? Latest Update!

Divorce Settlement:

After 28 years of marriage, Norman and his second wife Frances filed for divorce. Francis received an astounding $112 million divorce settlement from Norman, which is equivalent to over $270 million today. Later, Frances utilized $30 million of her settlement funds (about $70 million now, adjusted for inflation) to start a publication called Lear’s that catered to women over the age of 45. The magazine was shut down after six years.

Norman Lear’s Real Estate:

norman lear net worth

In the Brentwood section of Los Angeles, Norman and his third wife Lyn invested $6.5 million in a sizable estate in 1995. The property contains a 14,000-square-foot main house, a guest house, a pool, a gym, a spa, tennis courts, security offices, and a 35-car garage. It is situated on 8 acres. In 2015, he put the house up for sale for $55 million. He listed the house once more in November 2019 but this time for just under $40 million.

In addition, Norman and Lyn own a two-bedroom apartment in New York City in Central Park that they paid $10.2 million for in 2008.

One of the first printed copies of the US Declaration of Independence was purchased by Lear and his wife for $8.1 million in 2001. Lear took the paper on a planned cross-country tour during the ensuing years, stopping at presidential libraries, museums, the Winter Olympic Games, and the Super Bowl.