Harvey Weinstein Net Worth: How Much Has It Dropped Since the Scandal?
Harvey Weinstein is famously known as the co-founder of the entertainment company, Miramax as well as the major film studio, The Weinstein Company.
Before he and his brother, Bob Weinstein dived into the world of film and TV production after they had a career as rock concert promoters. Both of them had always had an affinity for films and having had a modestly successful career as rock concert promoters via their production company, Harvey & Corky Productions in Buffalo in the 70s, they turned their capital to the establishment of Miramax, an independent film distribution company.
Harvey Weinstein’s net worth grew via the success of Miramax, which became known for its slew of great arthouse films. Despite being an independent distribution company, it achieved the status of being one of the most successful movie studios in America in the 80s through the production and release of films like Sex, Lies, and Videotape.
After two decades of building Miramax into a successful film studio, Harvey Weinstein and his brother sold the company to Disney for $80 million, effectively making them Hollywood royalty as they retained creative control of the studio and followed it up with several blockbusters releases like Good Will Hunting, Pulp Fiction and Shakespeare in Love.
After 13 years under the umbrella of Disney, Harvey Weinstein and his brother moved on to form The Weinstein Company in 2005. The company grew to become one of America’s major film studios, growing to a market value of $910 million in 2015 according to the New York Times.
Through the successes of the company, Harvey Weinstein’s net worth grew to $300 million. Other contributors to his wealth included his investment and businesses in the fashion industry.
Aside from the fashion industry, Harvey also invested in real estate, owning a number of homes and various properties across the US. Two of his properties, which were situated in Connecticut were believed to be worth $7 million and $8.5 million. His other properties include one in Long Island, a waterfront home worth $13.5 million; another in West Village worth $15 million and a Beverly Grove in Los Angeles worth $1.5 million.
However, following the revelation about his sexual harassment and assault over the course of his career, his company has declared bankruptcy and was eventually sold to Lantern Capital on the dollar.
