Net Worth Ranker
What Was Dick Clark’s Net Worth?
At the time of his passing in 2012, Dick Clark, a celebrated American television and radio personality, had accumulated a net worth of approximately $200 million. This substantial wealth was the result of a multifaceted career spanning several decades, encompassing not only his on-air roles but also his entrepreneurial endeavors in the entertainment industry. Clark’s primary sources of income included his salaries and earnings from hosting iconic shows like “American Bandstand” and “Dick Clark’s New Year’s Rockin’ Eve,” as well as his role as CEO of Dick Clark Productions.
Dick Clark’s Early Life and Career Beginnings
Richard Augustus Wagstaff Clark Jr. was born on November 30, 1929, in Mount Vernon, New York. He grew up in a modest environment, the son of Richard Augustus Clark and Julia Fuller Clark. Dick attended A.B. Davis High School in Mount Vernon. At the young age of 10, Dick expressed his interest in becoming a radio show host. At 16, Clark secured his first job in the mailroom of WRUN, a radio station in Rome, New York, owned by his uncle. His dedication led to promotions as a weatherman and radio announcer. Clark attended Syracuse University, graduating with a degree in advertising and a minor in radio in 1951. During his time in college, he worked at WOLF-AM.
Clark briefly returned to WRUN after graduation, using the name Dick Clay. In 1952, Clark joined WFIL, a radio station in Philadelphia, Pennsylvania, as a disc jockey. During this period, he also served as a substitute host for “Bob Horn’s Bandstand,” eventually becoming the permanent host in 1956 after Horn’s departure. This marked a pivotal moment in Clark’s career, setting the stage for his national breakthrough.
“American Bandstand” and Television Stardom
The program “Bandstand” was acquired by ABC and rebranded as “American Bandstand,” debuting nationally on August 5, 1957. Clark’s charismatic and approachable persona helped the show gain widespread popularity, appealing to both teenagers and their parents. In 1958, ABC introduced “The Dick Clark Show” to its Saturday night schedule, attracting over 20 million viewers within its first year. Appearing on Clark’s shows was a boon for artists, significantly boosting their careers. From 1958 to 1963, “American Bandstand” aired daily from Monday to Friday, before transitioning to a weekly Saturday format, which continued until 1988. The show’s original run ended, and there was a brief revival in 1989 with David Hirsch as the host.
In 1964, Clark relocated the show’s production from Philadelphia to Los Angeles, a move that reflected the show’s growing national prominence and the shift of the entertainment industry’s center of gravity. “American Bandstand” became a cultural phenomenon, influencing fashion, dance trends, and the music industry itself. Dick Clark’s clean-cut image and affable demeanor made him a trusted figure for both teenagers and their parents, bridging the generation gap and promoting emerging musical talent.
In 1981, Clark launched “The Dick Clark National Music Survey” for the Mutual Broadcasting System, a program that counted down the top 30 contemporary hits of the week. This venture further solidified his presence in the music industry and showcased his keen understanding of popular trends.
Game Show Hosting and Production Ventures
Clark also ventured into game show hosting. He took over from Ed McMahon as the host of “Missing Links” in 1964 and became the original host of “The $10,000 Pyramid,” which premiered on CBS on March 26, 1973. During his tenure on “The $10,000 Pyramid,” Clark won three Emmy Awards for Best Game Show Host. The show itself spawned multiple spinoffs and won nine Emmy Awards for Best Game Show, second only to the syndicated version of “Jeopardy.” In 1988, Clark concluded his run as host of “Pyramid,” although he later made guest appearances in subsequent iterations.
Clark’s involvement in game shows extended beyond “Pyramid.” He hosted “The Challengers” (1990-1991), “Scattergories” (1993), “It Takes Two” (1997), and “Winning Lines” (2000). He also co-produced “Let’s Make A Deal,” hosted by Bob Hilton from 1990 to 1991, and served as Executive Producer for Fox’s TV game show “Greed,” hosted by Chuck Woolery, from 1999 to 2000. These endeavors demonstrated Clark’s versatility and entrepreneurial spirit, as he successfully navigated various facets of the entertainment industry.
Clark created and produced “Dick Clark’s New Year’s Rockin’ Eve” in 1972. Originally aired on NBC as a music special featuring coverage of New York City festivities and hosted by George Carlin and Three Dog Night, the program moved to ABC in 1974, with Clark taking over as host. This program became the most-watched New Year’s Eve broadcast.
Dick Clark Productions and Business Acumen
Dick Clark Productions, founded in 1957 and based in Santa Monica, California, produced numerous popular programs, including The Golden Globes, The Country Music Awards, and The American Music Awards. In 2007, Dick Clark sold his company to Washington Redskins owner Dan Snyder for $175 million. The sale marked a significant milestone in Clark’s career, realizing substantial financial gains from his decades of entrepreneurial efforts.
Clark owned several radio stations. Under the name Progress Broadcasting, he owned KPRO (now KFOO) in Riverside, California, from 1964 to 1978. In 1967, he acquired KGUD-AM-FM in Santa Barbara, California. In 1982, Clark launched the United Stations Radio Network, which later merged to become Unistar. In 1994, it was sold to Westwood One Radio. In 1995, Clark and Nick Verbitsky launched a new version of the United Stations Radio Network. Clark also had partial ownership in a chain of music-themed restaurants called Dick Clark’s American Bandstand Grill, with locations in Newark, New Jersey, Phoenix, Arizona, Cranbury, New Jersey, and Branson, Missouri.
Investments and Earnings
In the early days of “American Bandstand,” Clark’s earnings were relatively modest. To supplement his income, he invested in various aspects of the music business, including music publishing, talent management, artist merchandise, and record distribution. These investments proved to be highly profitable, contributing significantly to Clark’s wealth. However, these side businesses led to congressional investigations into payola, which forced Clark to sell his music business interests in 1960. Despite this setback, Clark’s entrepreneurial spirit remained undeterred.
Personal Life and Real Estate Holdings
Clark’s personal life included three marriages. He married Barbara Mallery in 1952, and they had one son, Richard A. Clark. The couple divorced in 1961. In 1962, he married Loretta Martin. They had two children, Duane and Cindy, and divorced in 1971. His third and final marriage was to Kari Wigton in 1977. He had three grandchildren.
Dick and Kari owned several homes in the Los Angeles area. One property was a 23-acre compound in Malibu, modeled after “The Flintstones” cartoon. The home was listed for sale for $3.35 million shortly before his death and sold a year later for $1.778 million. From the 1970s until his death, Clark owned an oceanfront property in Malibu. In 2002, Dick bought an 11-acre bluff in Malibu above Latigo Beach from Pepperdine University for $15 million. The property, known as “Gulls Way,” has a 6,600-square-foot main house and a 2,000-square-foot guest house and is currently a wedding and event venue.
Health Challenges and Passing
Clark had Type 2 diabetes and suffered a stroke in December 2004, which impaired his ability to host “Dick Clark’s New Year’s Rockin’ Eve” in its entirety. Ryan Seacrest eventually replaced him. Dick Clark passed away on April 8, 2012, at the age of 82, due to a heart attack while undergoing a procedure to correct an enlarged prostate.
