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Bill Cosby is an American actor, comedian, producer, musician, author, and screenwriter. If you are a fan of “The Cosby Show,” you no doubt know this television star. The 85-year-old was the highest-earning television actor in the world, thanks to this show. So, what exactly is his net worth currently? How did he make his money? How does he spend his fortune? Please read on to get the answers to these questions.
What Is Bill Cosby Net Worth?
Bill Cosby net worth is estimated to be around $400 million as of December 2022. Should we expect his wealth to keep growing? Unfortunately, lately, Bill has been facing legal allegations that may potentially reduce his net worth in the coming years. However, let us first find out how he made his fortune.
How Did Bill Cosby Earn His Net Worth?
Have you ever wondered whether the Philadelphia-born Bill Cosby is a self-made millionaire or if his wealth is an inheritance from the family? Bill worked for his fortune. This is because his parents were not wealthy. The following are some of the ways through which this actor made his net worth;
Stand Up Comedy
Growing up as a teenager, Bill was the class clown. Nonetheless, he acted in plays. He realized and became aware of his ability to make people laugh while working as a bartender. This man from Philadelphia began his standup comedy career in his hometown. He would then go to New York City, Chicago, Vegas, Washington DC, and San Francisco, among other US cities he went for comedy tours.
Later, in the 1960s, Bill succeeded in coming up with comedy albums. He debuted in 1964. Between the next year and 1987, he had 7 Grammy Awards for Best Comedy Performance. Furthermore, Spin magazine ranked one of his albums as number one in their list of Greatest Comedy Albums of All Time. The fellow has been funny for decades.
Notably, standup comedy brought Bill much success to the point he got a TV role on The Dick Van Dyke Show. He was also featured in an action series, I Spy. His role won him 3 Emmy Awards back to back.
His very last standup performance was on January 23rd, 2018, and this was in Philadelphia. As you will later find out, Bill has faced different allegations of sexual assault against women. This had a negative impact on his standup comedy career.
Bill Cosby had engaged in numerous projects and hosted several sitcom shows before starting his own show. He frequently was a guest host for NBC’s The Tonight Show. It was after this show that he received his breakthrough. Additionally, he created, produced, and hosted Fat Albert and the Cosby Kids, an animated Saturday morning cartoon. Notably, his own childhood inspired the show.
The Cosby Show
Bill Cosby launched this successful show in the 1980s. He was the co-producer and starred in the series. Once again, the plots in this show were influenced by his real family life. The show was on from 1984 to 1992.
Bill had a 20% ownership of the show’s equity. He has, therefore, earned royalties over time. At one point in history, when this show was at its peak, Bill Cosby became the highest-paid TV actor globally. Back then, Bill would earn $1 million in each episode. Moreover, his salary increased to $4 million per episode when his producing and creating skills were considered. This figure would equate to $8 million if he were to do the same today.
Unfortunately, the royalties from this show have somehow been reduced because of the scandals that have caught up with Bill in the last couple of years.
Cosby did not only enjoy a quiet life with the royalties he earned. On the contrary, he invested a portion in real estate while he used the other to build his art collection. With such kind of investment, Bill’s income would keep streaming in.
His real estate investment and art collection collectively bring him around $250 million. The real estate portfolio on its own can bring Bill over $100 million. He is the owner of properties in Beverly Hills and Pennsylvania. The estate in Beverly Hills is estimated to be worth $60 million.
On the other hand, the art collection comprises the remaining $150 million. It began when Bill started picking pieces in the 1960s. Some art pieces are by Picasso, Renoir, Rembrandt, and Matisse.
How Does Bill Cosby Spend His Money
As much as Bill Cosby has different income streams, the money is channeled elsewhere. Unfortunately, this man, who was at one point the source of entertainment to different families in the 1980s and the 1990s, has been found guilty of several offenses against women.
Lawsuits have been a fall from grace for Bill Cosby for a while now. He has had to spend millions of dollars to defend himself legally in court. The cases against him relate to sexual assault, rape, sexual battery, and child sexual abuse. The accusers say that the assaults started way back in the 1960s. However, the accusations were more common in the early 2000s. Unfortunately, the allegations tainted his name publicly and affected his career.
Anyone connected to the Cosby brand had to cut ties at the time. The reruns of the Cosby Show and any other show featuring him were pulled down. His projects were hugely canceled at the time. The lawsuits against Cosby had reached 33. Later in April 2018, a Pennsylvanian jury found him guilty of 3 cases of aggravated sexual assault.
Additionally, in September 2018, Bill Cosby got a 3 to 10-year prison sentence. He was convicted of sexual assault. His attempts to appeal to overturn the conviction in December 2019 were unfruitful.
Therefore, the several accusations of sexual assault, rape, and abuse have damaged Bill’s reputation. The total number of women pointing at him with the allegations is more than 60. In June 2022, a court found Bill guilty of sexually assaulting a teenager in 1975 when she was 16. He was then ordered to pay the victim $500,000 in damages.
Therefore, with the numerous accusations and his conviction, Bill Cosby no doubt has spent a lot of his money to pay for the fees charged. Thankfully, his net worth hasn’t been reduced despite spending time in prison. This is because he still owned over $250 million in real estate and art collections.
Bill Cosby is an 85-year-old American comedian and actor. This Entertainer has a net worth of $400 million. A significant percentage of this fortune comes from The Bill Cosby Show and his investment in real estate and an art collection. Unfortunately, the actor has faced numerous sexual-assault related accusations from different women. He has even been found guilty and jailed. These had an impact on his career.