What was Dick Clark's net worth at his death? Legendary life and massive fortune of 'New Year's Rockin' Eve' host
Until Dick Clark suffered a debilitating stroke in 2004, he would host ABC's annual 'New Year's Rockin' Eve' broadcasted from New York City's Times Square and joined Americans as they welcomed each new year. Ryan Seacrest took over Clark's duties hosting the program since, but Dick Clark's name always comes to our minds every New Year's Eve.
Clark is best known for revolutionizing pop culture on television and is credited with helping end in-studio segregation by welcoming Black artistes to both the stage and the audience. For the younger generations, Dick Clark's influence is seen in an episode of 'Friends', when Ross and Monica Geller (David Schwimmer and Courtney Cox) become excited at the prospect of being dancers at the program.
Clark died at the age of 82 in 2012 from a fatal heart attack while undergoing a transurethral resection procedure to treat an enlarged prostate. His family decided not to have a funeral and his ashes were scattered in the Pacific Ocean.
How much was Dick Clark worth?
When Clark had attained success as the host of the music program 'American Bandstand', he was not making much money, according to Celebrity Net Worth. At the time, the pay for the host of a nationally syndicated mega-hit show was much lesser than it is now when television personalities like Ryan Seacrest earn millions a year.
To increase his earnings, Clark invested heavily in lucrative areas of the music business like music publishing, talent management, artist merchandise and record distribution. These investments would eventually lead to a rise in Clark's net worth. For instance, Clark had invested $125 in Jamie Records, the label that made Duane Eddy famous, which went on to return to him a profit of $31,700 over two years, as he testified during Congressional hearings on the Payola scandal. At the time of his death, Clark's net worth stood at $200 million, according to Celebrity Net Worth.
What was the Payola Scandal?
The Payola scandal saw the House Committee on Legislative Oversight pay attention to Clark and his platform, 'American Bandstand', which was a powerful platform in the late 1950s to launch musical careers of those who appeared on the show. Clark testified that he held ownership in a total of 33 different record labels, distributors and manufacturers who had profited handsomely from stars anointed by Clark on his program, like Danny and the Juniors and Frankie Avalon.
The United States Congress eventually ruled Clark's side businesses as a conflict of interest into payola and though Clark denied that he had ever pushed one of his own artistes unfairly, he was forced to sell off all his interests in the music business in 1960.
Clark served as CEO of Dick Clark Productions and he sold the company a few years before his death for $175 million. Clark was married to Kari Wigton for over 35 years. The couple owned many houses including a 23 acre compound in Malibu that was modeled after his favorite cartoon, The Flintstones.