Net Worth Ranker
What Is Art Garfunkel’s Net Worth?
Art Garfunkel, the celebrated American singer-songwriter, boasts a net worth of $95 million. This substantial fortune is primarily attributed to his successful career as one-half of the iconic folk-rock duo Simon & Garfunkel, along with his subsequent solo endeavors, acting roles, and strategic investments over several decades.
Early Life and Career Beginnings
Arthur Ira Garfunkel was born on November 5, 1941, in Forest Hills, Queens, New York City. He grew up in a Romanian Jewish household with two brothers. His early musical experiences included singing in his local synagogue, laying the foundation for his later vocal prowess. Garfunkel’s cousin was Lou Pearlman, the founder of the Backstreet Boys and NSYNC. By first grade, Garfunkel was deeply moved by singing songs such as “Unchained Melody” and “You’ll Never Walk Alone.” As a child, he utilized a wire recorder—a gift from his father—to meticulously record his singing, meticulously reviewing the recordings to identify and correct flaws, demonstrating an early commitment to perfection. During his bar mitzvah, he traditionally sang for four hours as a cantor. A lung infection during his teenage years sidelined him from singing for an entire summer, during which he dedicated himself to improving his basketball skills. He maintains a love for basketball even now.
Garfunkel’s introduction to Paul Simon occurred in sixth grade, leading to their joint participation in a school production of “Alice in Wonderland.” Garfunkel notes that his performance during a talent show motivated Simon to pursue singing as well. From the mid-1950s to the early 1960s, Simon and Garfunkel performed as a musical duo called Tom & Jerry. The pair, influenced by The Everly Brothers, delivered two-part harmonies and regularly played at school dances. In 1957, they released “Hey Schoolgirl,” which reached #49 on the charts, marking a significant early achievement. It was at this time that Simon and Garfunkel had their first major disagreement. Record label executive Sid Posen approached Paul Simon with a contract for two more singles (as a solo artist). Simon neglected to inform Garfunkel of this fact, and Art felt betrayed. After Tom & Jerry, the pair went their separate ways. After graduating from high school, Garfunkel attended Columbia University and majored in architecture. He also joined the tennis, skiing, fencing, and bowling teams. He also continued his musical career by joining an all-male a cappella group called the Columbia Kingsmen. In 1965, Art earned a B.A. in art history and eventually graduated with an M.A. in mathematics education in 1967.
Simon & Garfunkel: A Musical Journey
In 1963, after Paul Simon had dropped out of Brooklyn School of Law, the two reconnected. Despite initial reservations, they decided to reform their duo, opting for the name Simon & Garfunkel, although they initially worried it sounded too much like a law firm. In 1964, they released their debut album, “Wednesday Morning, 3 A.M,” through Columbia Records. The album initially failed to gain traction, receiving little attention from critics. Faced with this setback, the pair split again, with Art focusing on his studies at Columbia University. However, producer Tom Wilson re-released “The Sound of Silence” as a single in 1965, and the track quickly rose to the top of the charts, particularly resonating with university students. Paul, who had been pursuing a solo career in the UK, returned to the United States and reunited with Art. Over the following years, they collaborated on four highly successful albums: “Sounds of Silence,” “Parsley, Sage, Rosemary and Thyme,” “Bookends,” and “Bridge Over Troubled Water.” The latter album proved to be the most successful, selling over 25 million units worldwide and earning them two Grammy Awards. Their contribution to the soundtrack of the 1967 film “The Graduate” was significant, with “Mrs. Robinson” becoming one of their most iconic and successful songs. Simon & Garfunkel earned substantial royalties from the sale of these albums, contributing significantly to Art Garfunkel’s net worth.
Simon & Garfunkel’s albums achieved multi-platinum status, and their songs continue to generate royalties through radio airplay, streaming services like Spotify and Apple Music, and licensing for films and television shows. For example, “Bridge Over Troubled Water” has been streamed over 500 million times on Spotify, generating substantial income for its creators. The exact royalty rates vary depending on the agreements with their record label, Sony Music (formerly Columbia Records), and publishing companies. Typically, artists receive a percentage of the revenue generated from these sources after deducting expenses such as production costs and marketing fees. Given the enduring popularity of their music, these royalties form a significant portion of Art Garfunkel’s continuous income stream.
The duo’s live performances were also a significant source of income. Simon & Garfunkel embarked on numerous tours throughout their career, including reunion tours in later years. Concert ticket sales, merchandise sales, and performance fees contributed substantially to their earnings. While precise figures for each tour are not publicly available, it is estimated that their reunion concerts generated millions of dollars in revenue. For instance, their “Old Friends” tour in 2003-2004 grossed over $100 million worldwide. Each member receives a negotiated percentage of the tour revenue after covering production and operational costs. This income, combined with album sales and royalties, cemented Simon & Garfunkel’s financial success and contributed significantly to Art Garfunkel’s substantial net worth.
Solo Career and Acting Ventures
Personal differences eventually led to Art and Paul’s split. Art received acting offers in films like “Catch-22” and “Carnal Knowledge,” which Paul felt abandoned by. They ended their partnership in 1970, pursuing solo careers, but occasionally reunited for concerts. In 1973, Garfunkel released his debut solo album, “Angel Clare,” which reached #5 on the charts despite mixed reviews. His next album, “Breakaway,” featured successful tracks like “My Little Town” (written by Paul Simon) and “I Only Have Eyes For You.” Throughout the following years, Art’s career faced challenges. After his girlfriend Laurie Bird’s suicide in 1974, he lacked inspiration for music for many years. Following the disappointing album “Scissors Cut,” Garfunkel experienced depression and withdrew from public life. His father’s death further compounded his difficulties. Toward the end of the ’90s, Garfunkel returned with notable achievements and began writing his own songs for the first time. In 2009, Art and Paul collaborated again, but their relationship soured when Garfunkel withdrew from a tour due to vocal cord paresis, leading to Paul blaming Art for not being “honest” and “letting us all down.”
While specific sales figures for Art Garfunkel’s solo albums are not always publicly available, it is known that “Angel Clare” achieved gold certification from the RIAA (Recording Industry Association of America), indicating sales of at least 500,000 copies. “Breakaway” also performed well, contributing to Garfunkel’s income through record sales and related royalties. These solo albums generated income through various channels, including physical sales (CDs and vinyl), digital downloads, and more recently, streaming platforms. Each sale or stream generates a royalty payment to the artist, although the exact amount depends on the terms of his record label contracts and publishing agreements. As a solo artist, Garfunkel also earned revenue from live performances, although these were likely smaller in scale compared to the Simon & Garfunkel tours. These performances provided income through ticket sales and merchandise sold at venues.
In addition to his music career, Art Garfunkel also ventured into acting, appearing in notable films such as “Catch-22” (1970) and “Carnal Knowledge” (1971). While the exact salary he received for these roles is not publicly disclosed, acting in major motion pictures contributes to an artist’s income. Actors typically receive a base salary for their work, which can vary depending on their fame, the size of their role, and the film’s budget. Furthermore, actors may receive additional compensation in the form of residuals, which are payments made for the reuse of their work in television broadcasts, streaming platforms, and other media. These residuals can continue to generate income for actors for years after the initial release of the film.
Property and Personal Investments
Details about Art Garfunkel’s specific real estate holdings are not widely publicized, but it is common for high-net-worth individuals to invest in property. Real estate can include primary residences, vacation homes, and investment properties such as apartment buildings or commercial spaces. The value of these properties can appreciate over time, providing a return on investment. Furthermore, real estate can generate rental income if the properties are leased to tenants. While specific addresses and values of Garfunkel’s properties are not available, it is plausible that he has diversified his investments by including real estate in his portfolio.
Information regarding Art Garfunkel’s specific investments in stocks, bonds, or other financial instruments is not publicly available. High-net-worth individuals often allocate a portion of their wealth to such investments to generate additional income and grow their overall net worth. The types of investments and the allocation of assets depend on factors such as risk tolerance, investment goals, and the advice of financial advisors. It is reasonable to assume that Garfunkel has engaged in some form of financial investments to manage and grow his wealth over the course of his career, but the details of these investments remain private.
Awards and Recognition
Art Garfunkel’s contributions to music have been widely recognized through numerous awards and accolades. As part of Simon & Garfunkel, he was inducted into the Rock and Roll Hall of Fame in 1990, cementing their legacy as one of the most influential duos in music history. The duo also received eight Grammy Awards, including Album of the Year for “Bridge Over Troubled Water” in 1971. These awards not only recognize Garfunkel’s artistic achievements but also contribute to his reputation and marketability, which can enhance his earning potential. The recognition from these prestigious institutions validates his work and helps maintain his status as a respected figure in the music industry, which in turn can lead to opportunities for collaborations, performances, and other revenue-generating activities. The value of these accolades extends beyond mere recognition and can significantly impact an artist’s long-term career and financial success.
Personal Life and Habits
Art Garfunkel has been married twice and has two children. He was married to architect Linda Marie Grossman from 1972 to 1975. In 1988, he married Kim Cermak, a former model, and they remain together to this day. Beyond his musical and acting achievements, Garfunkel is known for his intellectual pursuits and physical activities. He is an avid reader and has embarked on long-distance walks across Japan and the United States, showcasing his dedication to physical fitness and personal growth. These personal habits and experiences contribute to his overall well-being and may indirectly influence his career by maintaining his health and vitality, enabling him to continue performing and creating music.
Net Worth Trajectory
Art Garfunkel’s net worth of $95 million reflects the culmination of several decades of musical success, acting roles, and strategic investments. The peak of his earnings likely occurred during the height of Simon & Garfunkel’s popularity in the late 1960s and early 1970s, as well as during their reunion tours in later years. While his solo career has also contributed to his wealth, it is likely that the majority of his net worth stems from his work with Paul Simon. Over time, his net worth has been influenced by factors such as album sales, royalties, touring income, acting salaries, investment returns, and personal expenses. It is worth noting that net worth can fluctuate depending on market conditions and investment performance. However, given his enduring legacy and continued income streams from his music catalog, Art Garfunkel has maintained a substantial level of wealth throughout his career. His financial success is a testament to his talent, hard work, and strategic management of his resources.
