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Monday, Oct 3, 2022
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The 50 Wealthiest Angelenos: Steven Spielberg #7



#7 – Steven Spielberg

Net Worth: $2.9 billion -12%

Last Year: $3.3 billion

Age: 62

Residence: Pacific Palisades

Source of Wealth: Entertainment



The Money:

Legendary director-producer continues to draw income from past hits, and scored another with fourth installment of “Indiana Jones” series. But box office success not enough to compensate for presumed losses of big investment portfolio.


Buzz:

Spielberg’s DreamWorks SKG inked distribution deal with Disney in February, finalizing company’s divorce from parent, Viacom’s Paramount Pictures. Spielberg and DreamWorks principals David Geffen and Stacey Snider ended acrimonious two-year relationship with Paramount in September after cutting $500 million deal with India’s Reliance to create independent production company. Hit it big with “Indiana Jones and the Kingdom of the Crystal Skull,” which grossed $787 million worldwide. Expected to score again this summer with action flick sequel “Transformers: Revenge of the Fallen.” In March, stepped out with DreamWorks co-founder Jeffrey Katzenberg and director George Lucas to celebrate USC School of Cinematic Arts’ new $175 million home. Spielberg was famously rejected from USC’s film school, but later awarded honorary degree and became trustee. Made headlines after reports surfaced that private philanthropic organization Wunderkinder Foundation invested with alleged Ponzi scheme artist Bernie Madoff. Big Hillary Clinton supporter, switched camps in October and co-hosted star-studded Obama fundraiser at Greystone Mansion in Beverly Hills that cost hefty $28,500 per person. Filmed short documentary for Obama, featuring military veterans.

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