What is Ted Field's net worth?
Ted Field is an American film producer, media mogul, and entrepreneur who has a net worth of $30 million. At various times in his life, Ted has been referred to as a "billionaire", however a 2017 lawsuit alleged that at his absolute peak Ted Field's net worth was $100 million. And that wealth peak was several decades ago. In 2018 Ted was revealed as #4 on California Franchise Tax Board's list of Top 500 delinquent taxpayers with a debt of $20.6 million.
Ted Field is the co-founder of Interscope Records which was responsible for some of the most successful rock and hip-hop musical acts of the last 30 years. He co-founded Interscope with Jimmy Iovine. In 1996, MCA Inc. purchased 50% of Interscope for $200 million. Interscope has launched the careers of 2Pac, Snoop Dogg, Eminem, Lady Gaga among many many others.
Disputed wealth
At various times, Ted Field's net worth has been estimated to be north of $1 billion. In a lawsuit, he was forced to admit that his peak net worth was $100 million and that was decades ago. He also confirmed that he has been in debt for the majority of his adult life.
In judgment debtor examination, Ted revealed that he currently is working under a payment plan with the IRS, lives in an AirBNB thanks to a family loan and drives a 2009 Nissan that needs work. At the same time, he was the executive producer behind 2017's smash hit "Jumanji" which earned $960 million worldwide. He also executive produced 2019's Jumanji sequel. Though he was forced to assign some of his film earnings to satisfy debts.
Producer Credits
As a film producer Ted Field's credits include:
- "Revenge of the Nerds"
- "Three Men and a Baby"
- "Cocktail"
- "Bill & Ted's Excellent Adventure"
- "Arachnophobia"
- "Bird on a Wire"
- "The Hand That Rocks the Cradle"
- "Jumanji"
- "The Tie That Binds"
- "Operation Dumbo Drop"
- "Mr. Holland's Opus"
- "The Associate"
- "Kazaam"
- "What Dreams May Come"
- "Runaway Bride"
- "Teaching Mrs. Tingle"
- "The Last Samurai"
- "The Texas Chainsaw Massacre"
- "The Chronicles of Riddick"
- "The Amityville Horror"
- "The Heartbreak Kid"
- "Bad Teacher"
- "Spring Breakers"
- "A Mother's Courage: The Mary Thomas Story" (for which Field won a Primetime Emmy Award in 1990)
Kevin Winter/Getty Images
Early Life
Frederick Woodruff "Ted" Field was born on June 1, 1953, in Chicago, Illinois, into the prominent Field family, heirs to the Marshall Field department store empire. His grandfather, Marshall Field III, was a prominent businessman, philanthropist, and the founder of the 'Chicago Sun' newspaper. His father, Marshall Field IV, continued the family tradition of involvement in media, owning several radio stations and the Chicago Daily News. Growing up in this environment, Ted Field was exposed to the world of business and media from a very young age.
Career
Ted Field's career has spanned multiple industries, including film, music, and motor racing. He began his career in the film industry, co-founding the film production company Interscope Communications in 1982. Under his guidance, the company produced numerous successful films such as "Three Men and a Baby," "Bill & Ted's Excellent Adventure," and "Jumanji."
In 1990, Field branched out into the music industry, co-founding Interscope Records with Jimmy Iovine. The record company saw significant success, signing prominent artists such as Dr. Dre, Eminem, and Lady Gaga. Interscope Records became known for its willingness to sign controversial artists and has been instrumental in shaping popular music in the late 20th and early 21st centuries.
Field's interest in motor racing led him to establish the racing team Interscope Racing, which competed in numerous racing events, including the Indianapolis 500. Despite the variety of his professional ventures, Field has consistently demonstrated a knack for identifying and investing in profitable ventures across different industries.
Ted Field (right) (Photo by Amy Graves/WireImage)
LA Mansion
In September 2000, Ted paid $6.3 million for an 18,000 square foot mansion in Los Angeles. In September 2005 he sold this home to NBA player Carlos Boozer for $8.6 million. Carlos wasn't able to move into the home before he had to report in Utah for a pre-season camp. Boozer decided to offer the home for rent. He famously rented the mansion the Prince.
Prince proceeded to replace the front gate decorative lions with a large emblem of his symbol. Throughout the home Prince replaced white Italian carpets with purple carpets.
Inside the home Prince had removed all the equipment in the weight room to make-way for a nightclub, complete with dance floor and DJ booth. He turned one of the bedrooms into a hair salon and another into a massage parlor. His symbol was emblazoned everywhere. In the master bedroom Prince painted the walls purple and added a black carpet. When he was done with the lease, Prince's team put the mansion back together exactly as it had been.
