Helena Lyng Blak
8 weeks ago

Stephen King is one of the world's richest authors - and it all began exactly 50 years ago

‘Carrie’ turns 50 years old. We take a closer look at the famous author's finances.
Funko POP vinyl figures of Pennywise, Carrie and Jack Torrance fictional characters from Stephen King books
esthermm / Shutterstock.com

In a week, on April 5, ‘Carrie’, the story of an abused and bullied teenage girl who discovers she has telekinetic powers and uses them to wreak havoc and seek revenge, turns 50. It was published on April 5, 1974.

The novel was the debut of one Stephen King. Back then, King was a humble English teacher and short story writer. The novel initially sold modestly before becoming a bestseller in 1976, boosted by the success of its film adaptation.

Today, King is known as - fittingly - the ‘King of Horror’. He has written more than 75 books, including novels, non-fiction, and short story collections. Throughout his career, he has sold over 350 million copies of his work, according to Marca and has an estimated net worth of $500 million.

However, according to The Richest, a significant part of King's wealth does not stem from book sales but rather from lucrative deals concerning the adaptations of his work.

Instead of selling the rights to his work upfront, the, perhaps very business-savvy, author has retained media rights for the adaptations of many of his most successful works, meaning he profits from the earnings—including sales of merchandise.

What that means is that when "It Chapter One," for example, becomes the highest-grossing horror movie of all time, King will have made a pretty penny off of that.

King has spent some of his wealth giving back. The author has in the past been noted for his philanthropy, and donates, according to himself, about $4 million each year to various charitable efforts.

Disclaimer

The information provided by this Site is for general informational purposes only. All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site.

More News

1 hour ago FX Daily: May 28, 2024 - Currency Movements Signal Mixed Trends Daily update from the foreign exchange market.
3 hours ago US Market Open: May 28, 2024 - Mixed Signals Amid Sector Divergence Daily update from the US market open.
3 hours ago The Western World’s Financial Leaders Met - Here are 7 Central Highlights Discover how the G7's latest meeting addressed global economic challenges, AI integration, and sustainable development.
8 hours ago Chocolate Trade Tiff: EU Fines Oreo and Toblerone Parent for Anticompetitive Practices EU slaps €337.5 million fine on Oreo and Toblerone maker for stifling trade.
8 hours ago Europe Market Open: May 28, 2024 - Mixed Performance Across European Markets Daily update from the European market open.
23 hours ago Dogecoin Dog Has Passed Away Farewell to Kabosu: The Shiba Inu behind the iconic ‘Doge’-meme and Dogecoin
1 day ago Israeli Airstrike Hits Rafah Tent Camp Israeli airstrike on Rafah camp kills dozens, raising international alarm.
1 day ago Meta and Call of Duty Maker Sued by Families of School Shooting Victims Families of the 2022 Uvalde school shooting victims file lawsuits against major corporations and officials, claiming they contributed to the tragedy.
1 day ago Walmart and Capital One Call It Quits on Partnership Walmart and Capital One announce the end of their six-year card partnership amidst legal disputes.