Move over Tyler Perry and Will Smith! Byron Allen is the new African-American media mogul you need to watch out for. Boasting a net worth in 2018 estimated at $400.0 million, Byron Allen has built a successful media empire on a stand-up comedy career and today, he’s making even bigger moves.
Byron Allen is probably one of the biggest media barons in the world, and very few even know that. He is the man behind some of our favorite TV shows, but he rarely gets his due credit.
But that’s okay because, at the end of the day, Allen’s pockets get stuffed with millions! How much you ask?
Allen has a net worth estimated at $400.0 million and growing. And, his latest venture could make him richer!
Read all about how Byron Allen built his media empire here.
How Rich Is Byron Allen?
- Comedian and TV producer Byron Allen has a net worth estimated at $400.0 million.
- His biggest source of wealth comes from Entertainment Studios; he’s the production company’s founder, chairman, and CEO.
- Byron Allen was born on April 22, 1961, in Detroit, Michigan.
- His early exposure to showbiz came when he accompanied his mother to NBC studios, where she worked as a publicist.
- Allen would sneak onto The Tonight Show set and pretend he was the host!
- Jimmie Walker was impressed by then-14-year-old Allen’s talent and recruited him to his comedy writing team for Jay Leno and David Letterman; he earned $25 per joke from Walker.
- He also performed at amateur nights in comedy clubs when he was 14.
- Allen made his TV debut when he was 18 on the The Tonight Show with Johnny Carson; he’s the youngest comedian to ever perform on the show.
- Byron went on to become a presenter on NBC’s Real People.
- His show, Kickin’ It with Byron Allen, began in 1992 and is one of the longest running TV shows in the U.S.
- Byron Allen’s house in Beverly Hills is a $17.0 million mansion where he’s neighbors with actor Tom Cruise, Canyon Capital Advisors founder Mitchell Julis, and film producer Steve Bing.
- He also bought an oceanfront estate in Maui for $22.8 million in February 2018.
Here’s an illustration of Byron Allen’s assets and wealth:
|Byron Allen’s Net Worth in 2018||$400.0 million|
|Entertainment Studios’ 2017 Movie Revenue (Gross)||$48.2 million|
|Weather Channel Deal Value||$300.0 million|
|Beverly Hills Mansion||$17.0 million|
|Maui Estate||$22.8 million|
Byron Allen’s Movies and TV Shows
- In 1993, Byron Allen founded Entertainment Studios and launched his successful show, Entertainers with Byron Allen.
- Since switching to behind-the-camera producing, Allen and his company now have over 30 shows on TV.
- Entertainment Studios produces shows like The First Family, Justice for All with Judge Cristina Perez, We the People with Gloria Allred, Comics Unleashed, and more; Allen’s shows have also swept up major awards at the Emmys.
- Entertainment Studios ventured into movies in 2015 by acquiring Freestyle Releasing, an independent film distributor.
- The entertainment wiz purchased the rights to his first film, 47 Meters Down, from his Malibu neighbor, Bob Weinstein’s Dimension Films.
- The studio has a 2018 movie lineup of Chappaquiddick, Replicas, and Hostiles; he has put in millions for print and advertising of these movies.
- In 2009, Allen launched Pets.TV, Comedy.TV, Recipe.TV, Cars.TV, ES.TV, and MyDestination.TV, becoming the first TV mogul to own and launch six 24-hour HD television networks simultaneously.
- He has expanded his portfolio by purchasing the assets to the Weather Channel from Comcast Corp. and private-equity firms Blackstone Group LP and Bain Capital; the deal is valued at a whopping $300.0 million.
- Allen doesn’t follow the traditional model of production, as studios usually sell shows to networks for huge sums; the network then gathers advertisers for the show’s time slot and makes big bucks.
- Instead, the media mogul makes shows on a budget and gives them to networks for free; in exchange, he holds the right to sell 50% of the advertising slot and gets a huge share from it.
- Since he retains the ownership rights, Allen can move the show to another network if it gets canceled.
Here’s how Byron Allon is saving Indie cinema with some nifty business tactics:
|Movie||Amount Paid for Film Rights||Prints & Advertising|
|47 Meters Down||(unknown)||$30.0 million|
|Chappaquiddick||$4.0 million||$16.0 million|
Standing Up for Equality
- Allen filed a racial discrimination lawsuit against AT&T alleging bias by cable execs against licensing minority-owned networks; AT&T then added his networks to their lineup.
- He has filed a similar lawsuit against the FCC and Charter Communications for $10.0 billion.
Here’s how Byron Allen’s net worth compares to other entertainment moguls:
|Byron Allen||Entertainment Studios||$400.0 million|
|Oprah Winfrey||Harpo Productions, OWN||$3.2 billion|
|Jerry Bruckheimer||Film and TV Producer||$900.0 million|
|Chuck Lorre||TV Producer||$800.0 million|
|Tyler Perry||Tyler Perry Studios||$600.0 million|
|Bill Cosby||Comedian, Actor, Musician, Producer||$400.0 million|
|JJ Abrams||Bad Robot Productions||$120.0 million|
|Shonda Rhimes||Shondaland||$120.0 million|