Net Worth Ranker
What Is Jackie Coogan’s Net Worth?
Jackie Coogan, born John Leslie Coogan on October 26, 1914, in Los Angeles, California, experienced a life marked by early fame and a subsequent financial ordeal that led to significant legal reforms. While calculating an exact current equivalent of Jackie Coogan’s net worth is difficult due to the passage of time and changing economic conditions, we can analyze his earnings during his peak years and the impact of the events that shaped his financial legacy.
Early Career and Peak Earnings
Coogan’s career began at a very young age. Before he turned three, he had already appeared in uncredited bit film parts. His breakthrough came at age four when Charlie Chaplin discovered him at the Orpheum Theatre in Los Angeles. Chaplin cast him in “A Day’s Pleasure” and later gave him his first starring role in the 1921 film “The Kid.” “The Kid” grossed over $2.5 million at the box office, which is approximately $32.5 million when adjusted for inflation. Coogan’s salary for “The Kid” was $75 per week for the 36-week production schedule, plus a $5,000 bonus upon completion. This totaled approximately $100,000 in inflation-adjusted dollars for that movie alone. His subsequent film, 1921’s “Peck’s Bad Boy,” earned him a weekly salary of $1,000, equivalent to about $13,000 per week after inflation.
By 1929, at the age of 15, Coogan secured a contract with Metro-Goldwyn-Mayer (MGM) for $500,000. This sum equates to approximately $7 million in today’s money. In addition to the upfront payment, MGM offered Coogan 60% of his movie’s profits. His first MGM film, 1930’s “Tom Sawyer,” grossed over $11 million, approximately $153 million today. By the time he was 17, Coogan had earned approximately $4 million, which is just under $70 million when adjusted for inflation.
Financial Exploitation and Legal Battle
Under the laws at the time, Coogan was not eligible to receive his earnings until he turned 21. Upon reaching that age, he discovered that his mother and stepfather, Arthur Bernstein, had squandered most of his fortune. They had spent it on extravagant clothing, jewelry, expensive cars, diamonds, and mansions. The family’s residence was the largest house in Los Angeles and one of the first private residences in California to have a swimming pool.
Of the approximately $70 million (inflation-adjusted), only $250,000 (or $4 million after inflation) remained in his accounts. His mother refused to hand over any of the remaining money. Coogan sued his mother, and after the lawsuit, he was left with just $35,000. This amount is equal to about $582,000 out of his original nearly $70 million fortune.
The Coogan Act and Lasting Legacy
The financial exploitation that Jackie Coogan experienced led to the 1939 California Child Actor’s Bill, commonly known as “Coogan’s Act.” This law mandates that any money earned by a child actor is the sole property of the child. The law also requires employers to set aside 15% of a child actor’s salary into a “Coogan account,” which is guarded until the child turns 18.
Later Career and Estimated Net Worth at Death
After overcoming his financial difficulties, Jackie Coogan continued his acting career. He appeared in numerous films and television episodes from the 1940s to the mid-1980s. His roles included playing Uncle Fester in the original 1960s sitcom “The Addams Family.” While it is difficult to provide an exact net worth figure at the time of his death in 1984, we can estimate based on his later career earnings, any investments he might have made, and his known assets.
Given his extensive work in television and film, it’s reasonable to assume that Coogan accumulated additional wealth in the later stages of his career. However, without specific financial records, estimating an exact net worth remains challenging. Considering his consistent work and relatively modest lifestyle in later years, it is plausible that his net worth at the time of his death was significantly higher than the $35,000 he was left with after his lawsuit, but still relatively modest compared to the fortune he had amassed as a child star. Based on available information and industry averages, his estimated net worth at the time of his death could have been between $500,000 to $1 million in 1984 dollars. This estimate accounts for his earnings from acting roles, potential investments, and any savings he accumulated during his later career. This net worth is a combination of his previous compensation of $35,000, plus any additional income/compensation received during his life as an actor. It’s also worth noting that in 1984, a net worth of between $500,000 to $1 million would have placed him in a comfortable financial position.
Real Estate Investments
During his career, Jackie Coogan may have invested in real estate, but specific details about his property holdings are scarce. However, it is known that his parents owned the largest house in Los Angeles, which was one of the first private residences in California to have a swimming pool. This property, acquired during his childhood fame, was a significant expense and contributed to the depletion of his earnings. Information regarding Coogan’s adult life real estate investments is not available.
