Today, major news broke about famous film producer and executive Harvey Weinstein. Weinstein is best known for founding Miramax and then later the Weinstein Company. He produced and was involved in many of the most famous blockbusters in the last century.
But today, scandal broke out, as we learned that Weinstein has been accused of sexual harassment of several women over the last several years.
So how much is Harvey Weinstein net worth 2018? What effect could lawsuits stemming from sexual harassment have on his bottom line? Read on…
Harvey Weinstein got started in the production industry by producing rock concerts with his brother in the 1970s. He quickly moved into movies and film, under the name Miramax.
Originally Miramax worked on musical films and shows, but they soon moved into mainstream films and had several early hits in the 1980s. Still, it wasn’t until the 90s, when Miramax became the tour de force it is today. At that time, Miramax started releasing some of its blockbusters, including the crying game, Pulp Fiction, and later the English patient.
Some of the later famous movies made by Weinstein included Good Will Hunting and Lord of the Rings.
Eventually, having Weinstein left Miramax and started another production company called the Weinstein Company, and he brought along with him many of the most famous names in Hollywood.
This week, Harvey Weinstein was accused of harassment by several women including the famous actress Ashley Judd.
Although Harvey Weinstein’s career has brought a lot of fame, and brought a lot of money to his company, he isn’t as rich as you think.
In total, Weinstein’s movies have made tens of billions of dollars. As we wrote earlier, Miramax produced some of the most well-known movies in history. Yet the company only sold for $80 million according to Forbes.
After leaving Miramax, Weinstein started his own company, the Weinstein Company. However, at that company, he only had a small stake, given that he had to give a large percentage of the company to his investor, Goldman Sachs.
Over the years, the Weinsteins, and the Weinstein Company have had to seek out a large amount of credit from banks and other companies in order to keep in business. It also has had to sell some of its most valuable assets in order to stay afloat.
In total, the Weinstein Company is estimated to be worth about $300 million in 2018. That puts Harvey Weinstein net worth 2018 at around $150 million.
If the sexual harassment allegations are true, what could they cost Harvey Weinstein?
Similar suits have sought amounts in the $10 million plus range. Depending on how many women come out and whethere there is a strong for their claims, Weinstein could be in serious financial trouble in the future.
Photo: David Shankbone