What is Tony Griffin’s net worth?
Tony Griffin is an American actor and writer who has a net worth of $200 million. Tony Griffin was born in California on December 8, 1959. He is the only son of entertainment and business tycoon Merv Griffin, and Julann Wright. Merv and Julann were married from 1958 until 1976.
Over the years Tony has enjoyed a moderately successful acting career. In 1986, when he was 27, Tony appeared a film called “Evil Laugh.” The next year he played a prison guard in Mel Brooks’ iconic comedy “Spaceballs.” In 1993 he had a role in “Aspen Extreme, followed by 1994’s “Iron Will,” 1995’s “Dracula: Dead and Loving It,” 1996’s “Ringer” and 1997’s “The Christmas List.”
He has also appeared in episodes of the TV series “Coach” and “High Incident” as well as the shorts “Squint” and “Les Carottes Sont Cuites.”
Griffin the 1994 film “Drop Zone,” which starred Wesley Snipes and Gary Busey and went on to earnd $62 million off a budget of $45 million. In 2000 he wrote the TV movie “Cutaway.”
In 2002 Tony won a Malibu Film Festival Best of the Fest Award for the Best Short Film for “Squint.”
Merv Griffin’s Business Empire
Merv Griffin was a remarkable figure in American entertainment and business, renowned for his acumen in television production and his strategic investments. Starting as a singer and game show host, Griffin transitioned into a successful career as a television producer and entrepreneur.
Griffin’s most notable contribution to television was the creation of two of the most enduring game shows in TV history: “Jeopardy!” and “Wheel of Fortune.” “Jeopardy!”, launched in 1964, became iconic for its distinctive answer-and-question format. Griffin also composed the famous “Jeopardy!” theme song, titled “Think!”, which turned into a significant source of income due to its widespread use. In a 2007 interview, Merv estimated that he had earned $70-80 million up to that point off Jeopardy’s theme song royalties alone. “Wheel of Fortune,” introduced in 1975, became another game show staple, loved by audiences for its word puzzle format.
Beyond creating these shows, Griffin was adept at capitalizing on their success. In 1986, he sold the rights to “Jeopardy!” and “Wheel of Fortune” to The Coca-Cola Company (then owners of Columbia Pictures) for $250 million, retaining a share of the shows’ profits in perpetuity. This deal was a testament to his business foresight and marked one of the most lucrative deals in television history.
In addition to his television ventures, Griffin was also a successful real estate investor. He acquired various hotels and resorts, including the Beverly Hilton Hotel in Beverly Hills and Resorts International hotel and casino in Atlantic City. These investments significantly increased his wealth and diversified his business interests.
At the time of his passing in 2007, some have estimated that Merv Griffin’s net worth was as much as $1 billion. However, that number is likely somewhat exaggerated as we learn in the next paragraph…
In August 2009, Tony Griffin filed a lawsuit against the people running his late father’s two businesses: Merv Griffin Entertainment and The Griffin Group. In his lawsuit, Tony alleged that the management teams squandered a portion of the Griffin fortune on “speculative ventures with funds which belong to the trust.” The lawsuit revealed that after taxes, debts, donations an other considerations were paid, Merv Griffin’s assets that weren’t already in trusts by the time of his death in 2007 were worth $140 million. According to the terms of Merv’s estate, Tony is entitled to a minimum distribution of $2 million per year. If either of the businesses are ever sold,Tony is entitled to 60% of all profits.
In 1997 Tony paid $350,000 for a home in Malibu. He sold this home in 2016 for $3.85 million.