Frank Sinatra, one of the most influential and celebrated celebrities of the twentieth century, was known for his remarkable skills in music, acting, and production. His talent and charisma led him to amass a huge fortune during his lifetime, leaving many wondering about the details of his net worth and who inherited his money after his death.
Frank Sinatra’s Net Worth: A Breakdown of His Wealth
At the time of his death, Frank Sinatra had an estimated net worth of over $200 million. He earned his fortune through a variety of sources, including album sales, earnings from gigs and concerts, television and film rights, and his own companies.
Album Sales
Frank Sinatra was one of the most successful recording artists of all time, with global record sales surpassing 150 million throughout his career. Although other artists have since overtaken him in terms of record sales, Sinatra was one of the highest earners in the industry during his prime. He reportedly sold over 27 million records during a period when he released LPs, which provided him with a steady source of passive income throughout his career. He continued to earn millions from album sales throughout his lifetime.
Earnings from Gigs and Concerts
Sinatra’s career in music was not only defined by his studio albums but also by his performances on stage. He performed in many shows and concerts throughout his lifetime, earning hundreds of thousands of dollars per show. In 1946, he earned an astonishing $93,000 per week for his performances on stage. He also signed a 3-year contract deal with the Golden Nugget of Las Vegas for a whopping sum of $16 million.
Television and Film Rights
Sinatra also made several million from television and film rights. In 1982, he made $1.3 million from Showtime television rights to one of his concerts titled “Concert of the Americas” in the Dominican Republic. As an actor, a movie director, and a producer, Sinatra starred in numerous films, including the highly successful movie “High Society” in 1956, which earned him $250,000. Sinatra also directed and produced films, which further contributed to his wealth.
Companies
Aside from his music and acting careers, Sinatra also established his own companies, such as Sheffield Enterprises, which licensed his name and likeness. His daughter, Nancy, currently serves as the head and Chief Executive of the company. He also had an interest in Wilshire Camden Associates.
Inheritance of Frank Sinatra’s Net Worth
After his death, Frank Sinatra’s fortune was divided among his wives, children, grandchildren, and friends, in accordance with his will. The exact details of the division of his estate have not been disclosed publicly, but it is known that his family members inherited a significant portion of his wealth.
Frank Sinatra’s Assets
In addition to his net worth in cash, Frank Sinatra also owned many luxurious properties in the United States. He was known for his taste in classic and elegant properties that increased in value over time. He owned five multi-million dollar properties, including a luxurious mansion in Palm Springs, California, which was sold for $4.25 million after his death.
Conclusion
Frank Sinatra’s net worth was a testament to his immense talent and hard work throughout his lifetime. He was a multi-talented and versatile artist who left a lasting impact on the music and entertainment industry. His wealth was divided among his loved ones, who continue to enjoy the fruits of his labor to this day.