What is Jack Warner's Net Worth?
Jack Warner was a Canadian American film executive who had a net worth of $300 million at the time of his death (adjusted for inflation). He was best known for being the president of Warner Bros. Studios.
Jack Warner was born in London, Ontario, Canada in August 1892 and passed away in September 1978. His career spanned 45 years which was the longest of other Hollywood studio moguls. Warner served as the co-head of production for Warner Bros. Studios in Burbank, California and worked with his brother Sam Warmer. The pair produced the technology for the first film featuring speaking which was The Jazz Singer in 1927. After Sam's passing, Jack Warner clashed with his older brothers Harry and Albert Warner. He secretly purchased their shares of the company. He was seen as a contradictory and enigmatic individual. While he was a staunch Republican he encouraged films that promoted Democratic President Franklin D. Roosevelt's New Deal. He won an Academy Award for Best Picture for My Fair Lady in 1965 and received the Cecil B. DeMille Award from the Golden Globes in 1956. He also received a star on the Hollywood Walk of Fame in 1960. Jack Warner passed away on September 9, 1978 at 86 years old.
Sale of Shares: In 1966, at the urging of his wife Ann who wanted him to slow down and retire, Jack sold his 1.6 million shares in Warner Bros. to Seven Arts Production for $24 million. That's the same as around $190 million in today's dollars after adjusting for inflation.
Beverly Hills Estate: 1937, Jack bought a 10-acre property in Beverly Hills. He built a 13,000 square-foot mansion pools, a tennis court and even a 9-hole golf course. It would later be known as the Jack Warner Estate:
Jack's widow Ann lived on the property until her death in 1990. Upon her death, the property was acquired by music producer David Geffen for $47.5 million. It was the most expensive real estate transaction in US history at that point. FYI, $47.5 million in 1990 is worth the same as around $93 million today after adjusting for inflation.
On February 12, 2020 David Geffen sold the estate to Jeff Bezos for $165 million, setting the record for most expensive property sale in California history.
