Net Worth Ranker
What Is Jerry Weintraub’s Net Worth?
At the time of his death on July 6, 2015, Jerry Weintraub, the prolific American film producer and former music executive, had a net worth of $325 million. This substantial wealth was accumulated over a career spanning several decades and various entertainment industry sectors.
Sources of Jerry Weintraub’s $325 Million Net Worth
Jerry Weintraub’s net worth stemmed from several key areas. He was the former CEO of United Artists, a position that undoubtedly contributed significantly to his financial standing. Beyond this executive role, Weintraub’s primary source of wealth came from his extensive film production ventures. He produced a string of successful and critically acclaimed movies, each adding to his overall income. Additionally, his early career as a talent agent and music promoter played a crucial role in establishing his financial foundation. Weintraub’s diverse and strategic approach to the entertainment industry allowed him to build a considerable fortune.
A significant portion of his wealth was derived from the numerous films he produced. These included major hits like “Nashville” (1975), which earned four Academy Award nominations, including Best Picture, marking an early triumph in his film career. Then there was “Diner” (1982), a critically acclaimed dramedy that further solidified his reputation as a successful producer. “The Karate Kid” (1984) became a massive commercial success, spawning three sequels, all of which Weintraub produced. In the early 2000s, Weintraub produced the remake of “Ocean’s Eleven” (2001) and its sequels, “Ocean’s Twelve” (2004) and “Ocean’s Thirteen” (2007), which were all box office hits. Each of these films generated substantial revenue, contributing significantly to Jerry Weintraub’s net worth.
Weintraub also produced a number of acclaimed television films, specials, and series. These efforts earned him Emmy Awards for “Behind the Candelabra” (2013), an HBO biographical drama about Liberace, and “Years of Living Dangerously” (2014), a documentary series about global warming. These awards not only enhanced his reputation but also increased his earning potential. He also produced several Broadway productions and managed concerts for legendary musical acts such as Elvis Presley, Led Zeppelin, and Frank Sinatra.
Early Career and Rise to Prominence
Born on September 26, 1937, in Brooklyn, New York City, to Jewish parents Rose and Samuel Weintraub, Jerry Weintraub’s early life provided a glimpse into his future drive and ambition. Raised in the Bronx, he began working as a waiter and theater usher in the Catskills as a teenager. These early jobs instilled in him a strong work ethic and an understanding of the entertainment industry. He later secured a position in the mailroom at MCA Records, where he also served as an assistant to talent agent Lew Wasserman. This experience gave him invaluable insight into the business side of entertainment and paved the way for his own ventures. Upon leaving MCA, he established his own management company, marking the start of his entrepreneurial journey. In the 1960s, Weintraub co-founded the music group the Doodletown Pipers, showcasing his diverse interests and talents. He also managed major acts such as Paul Anka, Pat Boone, Joey Bishop, Jimmy Buffett, Jackson Browne, and John Denver, demonstrating his ability to identify and nurture talent.
In 1970, Weintraub transitioned into concert promotion, a move that would significantly boost his career. He famously convinced Elvis Presley and his manager Colonel Tom Parker to embark on a national tour, a decision that proved to be highly lucrative. Following this success, in 1974, he promoted a tour for Frank Sinatra, which brought the crooner out of retirement and back into the spotlight. Over the remainder of the decade, Weintraub managed and promoted concerts for a diverse range of artists, including Neil Diamond, Bob Dylan, the Carpenters, the Beach Boys, and the Moody Blues. He gained a reputation for putting on large-scale shows and is often credited with being the first person to organize such massive arena concert tours. These ventures not only earned him substantial income but also established him as a major player in the music industry.
Film Production Career
In 1975, Weintraub received his first film producing credit for Robert Altman’s musical ensemble dramedy “Nashville.” This critical and commercial success earned four Academy Award nominations, including Best Picture, marking a significant milestone in his transition to film production. Following this, Weintraub produced two films in 1977: the drama “September 30, 1955,” and the comedy “Oh, God!,” starring John Denver and George Burns. These projects further established his presence in the film industry.
In the early 1980s, he produced the crime thriller “Cruising” (1980), the romantic comedy “All Night Long” (1981), and the hangout dramedy “Diner” (1982). These films showcased his versatility as a producer, working across different genres. In 1984, Weintraub achieved one of his greatest successes with the martial arts drama “The Karate Kid.” This film was a box office hit and spawned three sequels, all of which he produced, solidifying his reputation as a successful and influential producer. In 1987, Weintraub formed his own film production company, Weintraub Entertainment Group, and produced the crime comedy “Happy New Year.” However, the company later filed for bankruptcy, a setback in his otherwise successful career. During the 1990s, Weintraub produced films such as “Pure Country” (1992), “The Specialist” (1994), “Vegas Vacation” (1997), “The Avengers” (1998), and “Soldier” (1998). These films demonstrated his continued involvement in the industry, even during periods of financial difficulty. He achieved his next major success in 2001 when he produced Steven Soderbergh’s remake of “Ocean’s Eleven” through his new company, JW Productions. This film was a critical and commercial success, leading to the production of sequels “Ocean’s Twelve” and “Ocean’s Thirteen,” in which Weintraub also made appearances. The last films he produced were “Nancy Drew” (2007), the 2010 remake of “The Karate Kid,” and “The Legend of Tarzan” (2016). These later projects demonstrated his continued passion for film production and his ability to adapt to changing industry trends.
Television Production Career
Weintraub produced numerous television specials, series, and made-for-TV movies throughout his career. In the 1970s, his credits included musical specials such as “Sinatra – The Main Event” (1974), “An Evening with John Denver” (1975), “Rocky Mountain Christmas” (1975), “The Carpenters’ Very First TV Special” (1976), “Neil Diamond: Love at the Greek” (1977), and “John Denver and the Muppets: A Christmas Together” (1979). These specials showcased his ability to work with top musical talent and produce high-quality television content.
In the 1980s, Weintraub produced the specials “The Carpenters: Music, Music, Music” (1980) and “John Denver: Music and the Mountains” (1981), as well as the television films “Blue Jeans” (1980), “John Denver: The Higher We Fly” (1983), and “The Cowboy and the Ballerina” (1984). After a hiatus from television, Weintraub returned in 2005 to produce the television special “L’Chaim: To Life Telethon.” In 2013, he achieved one of his most significant accomplishments as a producer of the HBO biographical drama film “Behind the Candelabra,” about the late years of Liberace. For this production, Weintraub won an Emmy Award for Outstanding Limited or Anthology Series or Movie, solidifying his reputation as a top television producer. The following year, in 2014, he won another Emmy for producing the global warming documentary series “Years of Living Dangerously.” Weintraub followed this with producing credits on two HBO series: the short-lived political satire “The Brink” (2015) and the dystopian science-fiction drama “Westworld” (2016). These later television projects demonstrated his ability to work in diverse genres and produce high-quality content for premium cable networks.
Acting Career
In addition to producing the three “Ocean’s” films, Weintraub made appearances in each of them, showcasing his willingness to participate on screen as well as behind the camera. He played the part of Sonny Capps in the 1993 legal thriller “The Firm,” demonstrating his ability to take on acting roles in different genres. He also appeared in “Vegas Vacation” (1997), “Full Frontal” (2002), and “Confessions of a Dangerous Mind” (2002). These appearances added to his public profile and demonstrated his versatility within the entertainment industry.
Philanthropic Activities
Weintraub was significantly involved in philanthropy throughout his life. He frequently made charitable contributions to institutions such as the Los Angeles County Museum of Art, the UCLA School of Dentistry, and the Children’s Museum of Los Angeles. In 2007, Weintraub began charitable work to help end the genocide in Darfur. He partnered with “Ocean’s Eleven” stars George Clooney, Matt Damon, Don Cheadle, and Brad Pitt to found the non-profit group Not On Our Watch. This organization focused on preventing and stopping mass atrocities around the world, reflecting Weintraub’s commitment to social causes.
Real Estate Holdings
In February 2016, Jerry Weintraub’s estate listed two of his properties for a combined value of $41 million. The Beverly Hills mansion was initially listed for $25 million, reflecting its prime location and luxurious features. In April 2018, the Beverly Hills home was sold for $17.8 million. His Palm Desert mansion, custom-built in 2004, was listed for $16 million. The estate ultimately accepted $6.8 million for the Palm Desert property in April 2019, marking a significant reduction from the initial listing price. These real estate transactions provide insight into the scale and value of Weintraub’s assets at the time of his death.
