Harvey Weinstein is a studio executive, American film producer, and a convicted rapist whose net worth has dwindled from the staggering figure of $300 million at the peak of his career to $25 million. Since the sexual scandals broke out worldwide in 2017, his net worth faced a steep fall. In October 2017, his wife Georgina Chapman filed a divorce. Harvey was convicted to 23 years in prison in March 2020.
Harvey co-founded the Miramax entertainment company. Over the years since they founded the company, they produced a great number of award-winning films such as Frida, Good Will Hunting, and The Aviator. He was a successful film producer but his career halted after dozens of women accused him of sexual abuse in 2017.
Full Name : Harvey Weinstein
Net Worth : $25 million
Gender : Male
Date of Birth : March 19, 1952
Source of wealth : Television Producer, Film Producer, Businessman, Film Director
Nationality : United States of America
Harvey Weinstein’s Net Worth
Celebrity Net Worth puts his net worth at $25 million. His stake in The Weinstein Company, which he co-founded with his brother Bob Weinstein, was once valued at an estimated $130 million. When the sex scandals rocked the world, he was shown the door from his own company.
Harvey Weinstein was born in Flushing, New York on March 19, 1952. He went to the State University of New York and completed his graduation in 1973. He grew up in a small two-bedroom apartment. His father was a diamond cutter in the Diamond District of New York City. Harvey’s first business exposure was at the jewelry store of his father. He sold a $1,200 ring when he was 13. However, despite his skills as a salesman, his passion remained film.
His first business venture was Harvey and Corky Productions which he started with a $2,500 loan. The company used to arrange shows like the Rolling Stones and Stephen Stills in Buffalo.
Harvey and his brother Bob remained co-chairmen of their film production company, The Weinstein Company since 2005. Both had a 42% stake in the company. Harvey generated most of his wealth from well-known films such as Shakespeare In Love, Pulp Fiction, and Gangs of New York.
While running Miramax, Harvey produced Good Will Hunting and The English Patient. And while running The Weinstein Company, both brothers produced Silver Linings Playbook, The Butler, Django Unchained, The Imitation Game, Inglorious Basterds, etc.
Miramax Film Corp. released The Secret Policeman’s Other Ball which turned out to be its first successful endeavor. In 1989, Harvey’s company released the film Sex, Lies, and Videotype, which was a blockbuster movie.
At the peak of his career in 2004, Harvey was named as a Commander of the Order of the British Empire for his contributions to the British film industry. He won critical acclaim and was showered immense praise. However, he was also criticized for the techniques that he applied in the business dealings such as initiating an organized campaign to win Oscar for his films. In the wake of this, the Academy of Motion Picture Arts and Sciences imposed a ban on these kinds of campaigns. He was notorious for his fits of anger and ruthlessness. He publicly criticized director Julie Taymor and her husband due to a disagreement over the move Frida’s test screening.
The Walt Disney bought Miramax in 1993, however, the Weinstein brothers continued to offer creative support afterward until 2005.
The Weinstein Company’s Highest Grossing Movies
The company produced many successful films while the Weinstein brothers fueled it with their creativity. However, the highest-grossing films of all time are The King’s Speech, Inglorious Basterds, 1408, The Butler, Halloween, Scary Movie 4, The Imitation Game, Paddington, Silver Linings Playbook, and Django Unchained.
Harvey Weinstein invested a good amount of money in real estate. However, following his scandal breaking, he sold a great deal of them. Between October 2017 and April 2018, the time period before his scandal rocked the world by becoming international news, he sold six homes for $56 million. He earned a staggering $18 million in profits from the sales. In New York City, he purchased a property for $15 million in 2006 and sold it in March 2018 on a $10.65 million profit for $25.6 million.
Harvey’s Financial Downfall
When his sex scandals broke out, Weinstein, reportedly was too cash-poor to pay for spousal support. He requested the judge to put his $5 million debt on a halt, but his wife countered the lawsuit with a complaint that Weinstein consumed his liquid assets to save his skin from potential lawsuits cropping up around the globe.
According to the Niagara Gazette, the 67-year-old film producer is being kept in the Wende Correctional Facility in Western New York. He is serving a 23-year sentence for committing criminal sexual acts and rape. The once-celebrated producer behind The Weinstein Company and Miramax Films built an empire from scratch. He positioned himself as a champion of feminism. However, he was caught up in allegations of raping and sexually harassing over 80 women. These allegations led to his arrest and conviction as well. Prosecutors in California and New York alleged that Weinstein used his position in the Hollywood to rape and sexually harass several women for years.
Eric Schneiderman, a New York Attorney General, filed a lawsuit against The Weinstein Company, alleging that the company was in knowledge of Weinstein’s misconduct but it chose not to take action on it. The company filed for bankruptcy.
Awards and Achievements
Harvey bagged many awards such as the Britannia Award for Excellence in Film, Britannia Awards (1996), Milestone Award, Producers Guild of America Awards (2013), Producers Award, Gotham Awards (1997), and Special Award, Saturn Awards (2003).
Harvey won an academy award for Shakespeare in Love. He also earned about seven Tony Awards for the production of several winning musicals and plays such as August: Osage County, The Producers, and Billy Elliot the Musical.
I always find that when I do something that I like, from my heart, then it works.” Harvey Weinstein
“They keep the old business. We keep the ongoing business.” Harvey Weinstein