Harvey Weinstein is a former American film producer, an executive at the studio, and a convicted sex offender. He is the co-founder of the Weinstein Company and Miramax Films. Over his career, Weinstein was best known for producing films like The Imitation Game, Pulp Fiction, and Django Unchained.
Harvey Weinstein is an American producer and director with a net worth of $25 million as of 2022. Before allegations, His net worth had reached $300 million which was largely due to the success of his films.
|Source of Wealth
|Film Director/Producer, Actor, Studio Executive
|Actor, Film Director-Producer, Screenwriter, Businessman
|University at Buffalo
|Date of Birth
|March 19, 1952
|Divorced (Georgina Chapman, 2007-17)
|Lily Weinstein, India Pearl Weinstein, Dashiell Weinstein, Emma Weinstein, Ruth Weinstein
How Did Harvey Weinstein Acquire His Wealth?
Harvey Weinstein made money from his company and other side businesses before his conviction. From his company, he was paid a base salary of $2.6 million a year in monthly installments before he was convicted. Along with this, he was also given $500K for private air travel.
However, he got his start from a concert promotion business with his brother Bob. This business seemed to turn quite profitable for them since the Weinstein brothers used their profits from this business to co-found their first movie company – Miramax.
Miramax became a prominent name in movie production and was able to successfully launch a bunch of indie films in Hollywood. As the producer, Harvey Weinstein, would have taken a good cut from the profits of these films. While the numbers remain unknown, we can assume that they did contribute substantially to his net worth.
One of these films – Shakespeare in Love won an academy award in 1999 for the best picture. This success was a major factor in Miramax becoming one of the biggest studios for independent films. It was bought by Walt Disney in 1993 for $60 million, however, the brothers still exercised some independence in the firm until 2005.
After this, they founded the Weinstein Company which was an independent film studio in New York City. Harvey Weinstein acted as the executive producer of the company and produced several popular films.
Along with being in the Weinstein Company, Harvey also directed and produced several plays which won the Tony Award such as All The Way, La Cage aux Folles, and The Producers.
The Weinstein Company produced some box office films such as Django Unchained and The Imitation Game before declaring bankruptcy after firing Harvey due to sexual misconduct allegations.
Does Harvey Weinstein Still Get Paid When You Watch His Movies?
Despite his firing from the company, Harvey Weinstein does maintain a 20% stake in the The Weinstein Company, and he will be paid for the sales of his current and older movies.
How Does Harvey Weinstein Spend His Money?
Most of the current expenses under Weinstein’s name are lawsuit penalties and attorney fees. However, before the scandals came in the public eye he was a big player in the real estate business as well.
He had a $15 million home in New York City which was then sold in 2018 for $25.6 million. During the same period, he sold a total of six homes for a profit of $18 million, and a commercial building he owned with his brother for a profit of $5 million.
Harvey Weinstein was also a major supporter of the Democratic Party and had made donations to them of a total of $750K. He had been active in political matters since 1990, and can often be seen in pictures with political candidates like ex-president Barack Obama and Chuck Schumer. This reputation had helped him become the most powerful man in Hollywood before sexual harassment allegations were made against him by over 100 women.
In the wake of his crimes, Harvey Weinstein lost most of his net worth and was unable to pay for most support obligations. This primarily included the $20 million divorce settlement with his wife Georgina Chapman. She complained that he used up his liquid assets in pre-paying attorneys to protect him from potential lawsuits.
Before these allegations, his net worth had reached a staggering $300 million including his assets. However, after the trails came out, the famous ‘Harvey Weinstein net worth’ fell down to mere pennies in comparison, majorly because of attorney and legal fees.
During his trial in May 2019, Harvey had reached a settlement worth $44 million with his victims, of which $30 million would go directly to the 18 victims and the remaining $14 million to the legal fees. The settlement reached $25 million by the end of the year, and he was sent to prison for 23 years.
Harvey Weinstein‘s Early Life
Harvey Weinstein was born on March 19, 1952 in New York. He was enrolled at the University of New York at Buffalo. After graduating in 1973, he started doing business with his younger brother Bob.
Bob and Harvey started their first film production company, Miramax in 1979. For this, they used the profits they earned from their earlier businesses including one of promoting concerts.
During its early days, Miramax was purchasing the rights to small independent films and releasing them. They got a few successful films such as The Policeman’s Other Ball and Sex, Lies, and Videotape before being bought by Disney.
Weinstein was named a Commander of the British Empire in 2004, a title he got thanks to his contributions towards the British entertainment sector. While he received praise for his filming methods, he also received criticism for them such as his campaigns for films during Oscar season which were eventually banned by the Academy of Motion Picture Arts and Sciences.
In 2005, the brothers started the now bankrupt Weinstein Company which has contributed the most to Harvey’s net worth. The company may have started out as an independent studio in New York, but evolved to become one of the studio giants in Hollywood.
During this time, he also gained an aggressive reputation as once he put a reporter in a headlock before throwing him out of a party. He also criticized Julie Taymor over a screening test of her movie Frida. He was also accused of making several anti-Catholic films such as Priest.
In 2017, several women accused him of sexual assault. The allegation was reviewed and after two years of enquiry in the matter, Weinstein was convicted as a sex offender in 2020 for third-degree rape.
Weinstein’s Career Highlights
- Britannia Award for Excellence in Film in 1996
- Producers Award in 1997
- Academy Award in 1999
- Special Saturn Award in 2003
- Named Commander of the Order of the British Empire in 2004.
- Milestone Award in 2013
Harvey Weinstein had a successful business in the film industry. His companies have produced some of the most popular films like The Imitation Game. After including all his assets, legal fees, and other expenses, his once $300 million net worth is now $25 million.