$8 Billion
What Is George Lucas’ Net Worth?
George Lucas is a $8 billionaire businessman, director, writer, and producer. The “Star Wars” and “Indiana Jones” franchises, which have brought in over $12 billion in box office revenue worldwide, are George Lucas’s most famous creations. In addition, he founded Industrial Light and Magic, a company that creates technological effects, and George Lucas film, a production company.
In 2012, George paid Disney $4.1 billion for the intellectual property rights to the “Star Wars” franchise. He had a $3.3 billion net worth at the time of the sale. Lucas acquired 37 million shares (37,076,679) of stock, valued at approximately $50 at the time of sale, along with $2.21 billion in cash. He so received Disney shares valued at $1.85 billion at the time the acquisition completed. Those 37 million shares had increased in value to $7.4 billion by March 2021, when Disney’s stock was about $200 a share. George had a $10 billion net worth at that time! He was by far the richest celebrity, director, and overall richest person in the world when his net worth reached $10 billion.
As a signatory to the charitable “Giving Pledge,” Lucas states that he intends to give away at least half of his fortune to charitable organizations either before or at his passing.
Disney Sale
George sold Disney the Star Wars franchise’s rights in 2012 for a cash and equity price of $4 billion. Lucas was given 37 million shares (37,076,679) of stock, which was selling at about $50 at the time, along with $2.21 billion in cash. He so received Disney shares valued at $1.85 billion at the time the acquisition completed. With his number of shares and Disney’s semi-annual $0.88 dividend, George Lucas receives dividend payments of about $64 million annually.
Those 37 million shares had increased in value to $7.4 billion by March 2021, when Disney’s stock was about $200 a share.
Early Life and Career
On May 14, 1944, George Lucas was born in Modesto, California, as George Walton Lucas Jr. George had originally planned to pursue a career in auto racing, but Lucas’ interests significantly changed following a possibly catastrophic high school accident in which he was broadsided by another motorist. George’s father wanted him to work for him when he graduated from high school because he ran a stationery store. But George had planned to go to art school and had said when he left home that he was going to be a millionaire by the time he was thirty.
While attending Modesto Junior College, George Lucas developed a strong passion for photography and filmmaking. He began modestly, using an 8 mm camera to record auto races and other events. After a while, he moved to the University of Southern California, where he became friends with fellow director Steven Spielberg and excelled academically, earning a Warner Brothers student scholarship among other honors. “Electronic Labyrinth: THX 1138 4EB,” his 1967 student film, was subsequently turned into his first full-length feature picture, “THX 1138,” which debuted in 1971. Despite receiving negative reviews, the project served as a springboard for a more prosperous endeavor, “American Graffiti,” which brought in $140 million globally and five Academy Award nominations in addition to $115 million in domestic sales. Given that the film’s production cost $777,000,
“Star Wars”
Lucas’s next movie would go on to become an even larger smash and establish him as a legendary figure in Hollywood cinema. With a $11 million budget, “Star Wars” was filmed and upon its 1977 release, it became an international sensation. George Lucas would eventually, decades later, spend $15 million on the film’s restoration in order to re-release it. Early in the 1980s, “Star Wars” gave rise to two more very popular sequels that expanded the “Star Wars” universe.
In the late 1990s and early 2000s, Lucas directed a second “Star Wars” trilogy that concentrated on events that occurred before to the release of the first three films. After George Lucas sold the rights to Disney, the most current sequel trilogy—as well as offshoot movies and television shows—came to be. The venerable “Star Wars” property has brought in well over $12 billion in revenue globally and is still a hit with fans.
Other Films and Ventures
George Lucas only ever directed six movies, but he did serve as writer, executive producer, and producer on other more. The films “Body Heat” (1981), “Labyrinth” (1986), “The Land Before Time” (1988), and “The Indiana Jones” franchise are among his most notable achievements.
With the latter, he was able to once more captivate audiences’ attention with an epic film series. Actor Harrison Ford from “Star Wars” and Lucas collaborated once more on the “Indiana Jones” movies to create yet another legendary character. Steven Spielberg, another Hollywood star, joined him as director. The resulting motion pictures have earned about two billion dollars at the box office.
In addition, Lucas established Industrial Light and Magic, George Lucas Arts, Skywalker Sound, THX, and Lucasfilm Ltd. as branches of his main business. These businesses have revolutionized the film and gaming industries by creating cutting-edge visual and acoustic technologies that captivate, challenge conventions, and improve the viewing experience.
Accolades
The American Film Institute awarded George Lucas a Lifetime Achievement Award in 2005. His four Academy Award nominations include Best Writing and Best Directing for “Star Wars” and “American Graffiti.” He was honored with the Irving G. Thalberg Award from the Academy in 1991. In 2006, he became the second person after Steven Spielberg to be inducted into the Science Fiction Hall of Fame for contributions to film, television, and other media. President Barack Obama awarded Lucas the National Medal of Arts in 2013 in recognition of his contributions to American film. In August 2015, Lucas received the Disney Legends induction, and the same year, he was recognized at the Kennedy Center Honors.
As part of Hasbro’s “Star Wars: The Black Series,” an action figure featuring George Lucas as a stormtrooper was released in 2021 to commemorate George Lucas film’s 50th anniversary.
Why Is George Lucas So Insanely Rich?
All of it comes down to a very smart business move he took in 1973 when he negotiated his salary for the first “Star Wars” film. Following the phenomenal success of “American Graffiti,” Lucas was due a $500,000 compensation for his next film. That was a substantial increase from the $150,000 he received from “Graffiti.” Rather to take the almost 300% compensation increase, George made a proposal to the Fox executives. In return for two seemingly small conditions, George kindly offered to keep his pay at $150,000: (1) that he retain all merchandising rights; and (2) that he would retain the rights to potential sequels.The offer delighted Fox executives, who believed George’s space movie would not make much of an impression on the entertainment world. This obviously turned out to be a very disastrous agreement for Fox, and for George, it may have been the best film contract ever. “Star Wars” had brought in $4 billion in home entertainment revenue and $20 billion in product sales by 2012.
George Lucas revealed on October 30, 2012, that he has reached an agreement with Disney to sell his entire Lucasfilm business for an astounding $4.1 billion in cash and equity. Lucas received all $4 billion in profits because he controlled 100% of the business. Overnight, his net worth increased from $3.3 billion to $7.3 billion, more than doubling!
Philanthropy
George’s enormous charitable endeavors have contributed to his significantly reduced net worth today. Lucas gave a $1 million donation in 2005 to support the construction of the Martin Luther King Jr. Memorial on Washington, D.C.’s National Mall. After School Matters, a nonprofit organization, received a $25 million donation from Lucas and his wife Mellody Hobson in 2013. It was reported in 2016 that he gave the Obama Foundation a donation of between $501,000 and $1 million via the Lucas Family Foundation.
In the long run, George intends to give the lion’s share of his wealth to nonprofit organizations that prioritize education. His foundation currently has over $1 billion in assets. He has contributed millions of dollars to the Make-A-Wish Foundation and other organizations that promote cancer research. He has given USC, his alma mater, more than $175 million. George Lucas is undoubtedly the richest celebrity in the globe, even after donating billions of dollars to charitable causes.
Personal Life
From 1969 until 1983, Lucas was wed to Marcia Lou Griffin, a film editor who was honored with an Academy Award for her work on the first Star Wars picture. In 1981, Amanda, their daughter, was adopted. As a single father, Lucas adopted two more children, Jett Lucas (b. 1993) and Katie Lucas (b. 1988). The three “Star Wars” prequels featured all three of his children. In the 1980s, Lucas also dated singer Linda Ronstadt. After dating for seven years, Lucas wed DreamWorks Animation chair Mellody Hobson in 2013. At Skywalker Ranch, owned by Lucas, they were married. 2013 saw the surrogate birth of their lone daughter.
Real Estate Assets
The roughly 6,000-acre Skywalker Ranch in Marin County, California, is George’s greatest real estate holding. After buying the ranch in 1978, he invested more than $100 million to transform it into a private residence, film studio, getaway, and theater that can accommodate 300 people for screenings. A 50,000-square-foot private residence, multiple pools, tennis courts, and other amenities are also included on the property. About five thousand acres of the property are under a perpetual conservation easement held by the Marin County Agricultural Land Trust, according to an agreement made by Lucas.
For $33.9 million in 2017, Lucas bought a 9,000-square-foot house in Los Angeles’ Bel Air area.
He invested $19.5 million in a seaside residence in Carpinteria, California, which is located just south of Santa Barbara, in 2010. On the land, he constructed a considerably larger Cape Cod-style house after demolishing the previous one. The home next door was owned by Frances Morehart, a 93-year-old widow who passed away in 2018, until George paid $28 million for it in December 2019. His new combined Carpinteria coastal area is more than three acres.
