| Net Worth: | $30.0 Million |
|---|---|
| Age: | 74 |
| Born: | Jul 24, 1949 |
| Gender: | male |
| Height: | 6 ft 3 in (1.91 m) |
| Country of Origin: | United States of America |
| Source of Wealth: | Comedian, Actor, Television producer, Screenwriter, Voice Actor, Writer |
| Last Updated: | 2023 |
TABLE OF CONTENTS
Introduction
Michael Richards, with a net worth of approximately $30 million as of November 2023, is an American actor, writer, television producer, and comedian. He gained immense popularity for his portrayal of Cosmo Kramer on the iconic sitcom “Seinfeld.”
Michael Richards’s Net Worth, Career, and Success Story (2023 Update)
Early Life
Michael Anthony Richards was born on July 24, 1949, in Culver City, California. His parents were Phyllis, a medical records librarian of Italian descent, and William Richards, an electrical engineer of Scottish and English descent. Richards attended Thousand Oaks High School and participated in The Dating Game in 1968, although he was not chosen for a date.
Career
In 1989, Richards landed the role of Cosmo Kramer in the NBC television series “Seinfeld,” created by Larry David and Jerry Seinfeld. The show initially had a slow start but eventually became one of the most popular sitcoms on TV, ending its nine-year run at number one in the Nielsen ratings.
Richards won multiple Emmy Awards for Outstanding Supporting Actor in a Comedy Series for his portrayal of Kramer.
After “Seinfeld,” Richards worked on his own series, “The Michael Richards Show,” which premiered in 2000. However, the show faced poor ratings and negative reviews, leading to its cancellation. Richards also made appearances in various films and TV shows, including “UHF,” “Curb Your Enthusiasm,” and “Faith, Hope & Love.”
Personal Life
Richards was previously married to casting director Cathleen Lyons, with whom he has a daughter named Sophia. They divorced in 1992. In 2010, Richards married actress Beth Skipp, and they have a son together. He currently resides in Glendale, California.
Michael Richards’ Seinfeld Salary
During the early seasons of “Seinfeld,” Richards, along with Julia Louis-Dreyfus and Jason Alexander, earned a nominal amount of money. However, they successfully negotiated raises before the fifth season, earning $150,000 per episode, totaling approximately $3.8 million per season.
For the show’s final season, they received $600,000 per episode, amounting to around $15 million each. In total, the supporting cast members earned approximately $45 million in base salary from “Seinfeld.”
Seinfeld Syndication Earnings
Contrary to popular belief, Richards and the supporting cast members do not make significant amounts of money from “Seinfeld”‘s syndication deals, which have reached nearly $4 billion. They did not receive equity ownership percentage points on the show, resulting in smaller royalties from syndication.
Larry David and Jerry Seinfeld, on the other hand, earned hundreds of millions of dollars from syndication sales.
Real Estate
In 1992, Richards purchased a home in Studio City, California, for $525,000 and sold it for $810,000 in 1998. In the same year, he bought a 6,000 square-foot home in LA’s Pacific Palisades neighborhood for $1.75 million. The house, designed by architect Paul Williams, offers stunning views of the Pacific Ocean and is currently valued at $8-10 million.
Furthermore, Richards acquired comedian Red Skelton’s collection of rare books after Skelton’s passing. These books are now housed in Richards’ personal library.
Summary
Michael Richards, best known for his role as Cosmo Kramer on “Seinfeld,” has had a successful career in the entertainment industry. With a net worth of approximately $30 million, Richards has showcased his talent as an actor, writer, and comedian. Despite facing controversy in his personal life, Richards remains a prominent figure in television history.
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