Net Worth Ranker
What Is Phoebe Cates’ Net Worth?
Phoebe Cates, the accomplished American actress, model, and entrepreneur, has a net worth of $35 million. This impressive figure represents her combined net worth with her husband, the esteemed actor Kevin Kline, to whom she has been married for over three decades. Her financial standing reflects a successful career in entertainment and entrepreneurial endeavors. Cates’ notable roles in iconic films like “Fast Times at Ridgemont High” and “Gremlins” have undoubtedly contributed significantly to her financial success.
Phoebe Cates’ Career Highlights and Earnings
Cates gained widespread recognition for her portrayal of Linda Barrett in the 1982 film “Fast Times at Ridgemont High.” Her performance, particularly the memorable bikini-drop scene, solidified her status as a rising star. While specific financial details regarding her earnings from “Fast Times at Ridgemont High” are not publicly available, the film’s cultural impact and enduring popularity suggest it contributed substantially to her income. The Library of Congress selected the film for preservation in its National Film Registry in 2005, recognizing its cultural, historical, and aesthetic significance.
Another pivotal role in Cates’ career was her portrayal of Kate Beringer in the 1984 horror-comedy “Gremlins.” The film’s box office success, grossing $212.9 million worldwide, undoubtedly contributed to her financial prosperity. Cates reprised the role in “Gremlins 2: The New Batch” (1990) and the 2015 video game “Lego Dimensions,” further solidifying her connection to the franchise and potentially generating additional income.
In 1982, Cates made her film debut in “Paradise.” While Cates has stated she refused to do any promotion for the movie, because she alleged that producers of the movie filmed naked close-ups of her character using a body double without her permission, she was also credited as the singer of the theme song and recorded an album entitled “Paradise,” which suggests potential earnings from music-related ventures during that period.
Beyond her work in film, Cates also appeared on Broadway in a 1989 production of Paddy Chayefsky’s “The Tenth Man.” While the financial compensation for her Broadway performance is not publicly disclosed, it represents another facet of her diverse career. Cates’ decision to largely retire from acting in the mid-1990s to focus on raising her children reflects a shift in priorities. Her last official screen credit is a 2001 film called “The Anniversary Party,” which she did as a favor to her friend Jennifer Jason Leigh, the film’s director.
Real Estate Investments: Manhattan and Garrison, New York
For several decades, Kevin Kline and Phoebe Cates have resided in an exclusive Manhattan building located at 1125 Fifth Avenue. Specific details regarding their residence are limited, but similar units in the building have commanded substantial prices. In 2019, Bette Midler listed a penthouse unit in the building for $50 million, while a unit directly below Midler’s was listed for $20 million a year earlier. Based on these figures, the Kline/Cates residence could be worth anywhere from $10 million to over $20 million, depending on its layout and features.
Outside of New York City, Kevin and Phoebe own a 5+ acre farm property in the town of Garrison, New York, which they acquired in 1988 for $770,000. The current market value of the property is likely significantly higher, given the appreciation of real estate in the area over the past three decades. This real estate investment represents a tangible asset that contributes to their overall net worth.
Early Life and Career Beginnings
Phoebe Belle Cates was born on July 16, 1963, in New York City. Her mother, Lily, was born in China, and her father, Joseph (whose original surname was Katz), was a Broadway and television producer involved in creating the game show “The $64,000 Question.” While the specific details of her father’s earnings from producing the game show are not publicly available, his success in the entertainment industry likely provided a stable financial foundation for the family.
Cates attended the Professional Children’s School and the prestigious Juilliard School. She began modeling at age 10 and appeared in teen magazines such as “Seventeen.” Her early modeling career provided her with valuable experience in the entertainment industry and likely generated income from a young age. Although she pursued dance and earned a scholarship to the School of American Ballet, she had to drop out after injuring her knee at age 14. Her modeling career, while lucrative, eventually led her to pursue acting, recognizing the repetitiveness of modeling and seeking more fulfilling career.
Personal Life and Marriage to Kevin Kline
Phoebe Cates and Kevin Kline married on March 5, 1989, marking the beginning of a long-lasting partnership both personally and financially. The couple welcomed son Owen on October 14, 1991, and daughter Greta on March 21, 1994. The entire family appeared together in the 2001 film “The Anniversary Party,” showcasing their family dynamic.
In the early ’80s, Phoebe shared a Greenwich Village apartment with her boyfriend, Stavros Merjos. In 1983, while auditioning for a role in “The Big Chill,” Cates met actor Kevin Kline. Their shared experiences in the entertainment industry and their long-lasting marriage suggest a collaborative approach to financial management and investment decisions.
Entrepreneurial Ventures: Blue Tree Boutique
In 2005, Phoebe Cates opened the Blue Tree boutique on NYC’s Madison Avenue. Blue Tree is a gift and home decor boutique. The store’s curated selection of unique and stylish items catered to a discerning clientele, and Cates’ personal involvement in the business likely contributed to its success. The earnings from Blue Tree are not publicly available, but the boutique’s presence on Madison Avenue, a prime retail location, suggests it generated a steady stream of revenue.
Phoebe Cates Net Worth: A Summary of Assets
Phoebe Cates’ $35 million net worth is a testament to her successful career in acting, modeling, and entrepreneurship, combined with her husband’s financial successes in his acting career. Her notable roles in films like “Fast Times at Ridgemont High” and “Gremlins” propelled her to fame and generated income. Her real estate investments, including the Manhattan residence and the Garrison, New York farm property, represent tangible assets that contribute to her overall wealth. Her entrepreneurial venture, the Blue Tree boutique, further diversifies her income streams. While specific financial details regarding her earnings from individual projects and investments are not publicly available, her career trajectory and business ventures suggest a diversified and successful financial portfolio. The combination of these assets and income streams contributes to Phoebe Cates’ impressive $35 million net worth.
Her decision to step away from acting to prioritize her family reflects a commitment to her personal life. Her continued involvement in the entertainment industry through occasional projects like “The Anniversary Party” demonstrates her passion for acting. Her entrepreneurial venture with Blue Tree showcases her business acumen and her ability to adapt and thrive in different fields. Overall, Phoebe Cates’ net worth represents the culmination of a multifaceted career and her strategic approach to financial management.
