There are few American filmmakers who can boast of things that George Lucas has achieved in the entertainment industry. Among other things, he is best known for being the brain behind the Star Wars franchise. The entrepreneur, who is also admired for creating the Indiana Jones franchise, later sold Star Wars to Disney. Since then, many people have wondered how much he earned from the business. Read about it below and find out what George Lucas’ net worth currently is.
How George Lucas Created The Star Wars Franchise
George Walton Lucas was born on May 14, 1944, in the United States of America, in Modesto, California. His journey in the industry has been traced back to the 1960s. After graduating from the University of Southern California, he founded a film production company together with Francis Ford in 1967, which they called American Zoetrope. A few years later he made his film debut as a director; he wrote and directed the 1971 science fiction film THX 1138, which marked the beginning of his illustrious career as a filmmaker. The man would establish himself in the industry as the author and director of the American graffiti of 1973 before his fame touched the sky after his creation of Star Wars. It all began in 1977.
The popular brand for space operas, now considered one of the most successful film productions in history, was created in 1977 with the original movie Star Wars. As you have probably guessed, it was written and directed by Lucas. So far, this first film has produced several pre- and post-production films. It has also been expanded to include other forms of entertainment, from theme park attractions to TV series, comics, video games and so on. Star Wars is now viewed by many as a business empire, and the revenue from its films at the box office alone is estimated at over $9 billion.
What George Lucas Made From Selling Star Wars to Disney
Many questions come to mind when you think about the fact that George Lucas sold Star Wars to Disney. Apart from the questions, he asked about his profit from the store, there are also those who wonder if it was a wise move considering how successful the franchise has become in terms of merchandising. By 2018, the franchise is expected to be worth 65 billion dollars. Star Wars is ranked as the fifth strongest media franchise in history and holds a Guinness world record as the most successful of all film merchandising franchises.
In light of this, it is understandable that many quickly conclude that selling Star Wars was a foolish decision. But would it have been so successful even without the know-how of a multinational entertainment group like Disney? Although we won’t bother to answer that question, there is no doubt that much of George Lucas’ net worth was created by letting Star Wars go.
It was in October 2012 when Lucas sold his film and television production company (Lucasfilm Ltd. LLC) to Disney. The company he founded in 1971 is now a division of the Walt Disney Company. According to reports, Disney parted ways with $2.2 billion in cash to acquire Lucasfilm. In addition, 1.855 billion dollars in shares were issued. All in all, Disney needed massive 4.055 billion dollars to acquire Lucasfilm as a subsidiary of the Walt Disney Studios.
What Is George Lucas’s Net Worth?
The man is a billionaire. In 2019 the total value of the filmmaker’s wealth will be up to 6 billion dollars. When you look at what he’s worth, it’s easy for many to see him as a lucky man. Maybe he is lucky, but George has made many sacrifices and made clever moves; he has fully deserved what he has. For example, during the filming of the original Star Wars movie, he made a $500,000 pay cut. He did this to get full merchandising rights for the franchise.
Lucas is very interested in promoting the welfare of mankind. Even before he came to the bank to sell his company, he created a non-profit organization called The George Lucas Educational Foundation. After Disney acquired his production facility, the filmmaker said he would donate the majority of the money to his philanthropic efforts.