Lorne Michaels Net Worth 2022 – Salary, Income, Earnings

Lorne Michaels Net Worth 

Lorne Michaels has an estimated net worth of $500 million. Lorne Michaels is a television producer known for creating and shaping the long-running sketch comedy show ‘Saturday Night Live.’ He earns most of his income from his television shows and movies. 

Lorne Michaels was hired by NBC in 1975 to create a Saturday night show. Michaels debuted Saturday Night Live, a sketch comedy show that has won more than 60 Emmy Awards and launched the careers of some of the biggest names in entertainment, after assembling a group of actors and writers. Michaels is widely regarded as one of the most influential comedians of all time.

To calculate the net worth of Lorne Michaels, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as personal loans and mortgages, are included in total liabilities.

Here’s the breakdown of his net worth:

Name: Lorne Michaels
Net Worth: $500 Million
Monthly Income: $2 Million
Annual Salary: $30 Million
Source of Wealth: Screenwriter, Television producer, Film Producer, Actor, Comedian

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Early Life

Lorne Michael Lipowitz was born on a kibbutz in Israel on November 17, 1944. When he was a child, his family moved to Toronto, Canada. As a teenager, Michaels began writing fiction. He decided to pursue a career in entertainment soon after graduating from the University of Toronto.

Michaels collaborated with fellow Canadian Hart Pomerantz to create The Hart and Lorne Terrific Hour for the Canadian Broadcasting Company. Michaels relocated to Los Angeles in 1968 to write for The Beautiful Phyllis Diller Show, Laugh-In, and a number of Canadian television shows.

The Origins of ‘SNL’

In 1975, NBC hired Michaels, 30, and a 27-year-old executive named Dick Ebersol to create a Saturday night replacement for reruns of The Tonight Show. The pair conceived of a sketch comedy show that would be filmed in front of a live audience and assembled a group of writers and actors known as the “Not Ready for Prime Time Players,” which included Chevy Chase, Gilda Radner, and John Belushi.

Saturday Night Live premiered on October 11, 1975, with comedian George Carlin as the first host. Albert Brooks’ short films and Jim Henson’s Muppets made multiple appearances during the 1975 season.

SNL, which always concludes its first sketch with an announcement, “Live in New York! It’s Saturday evening! “became a viral sensation Following its first season, the series received four Emmy Awards and a devoted fan base.

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Influence and Reputation

Over time, the show established itself as a comedy institution, notable for its ability to reinvent itself through a steady stream of some of the best and brightest new comedic talents. Dan Aykroyd, Bill Murray, Eddie Murphy, Mike Myers, Will Ferrell, Conan O’Brien, Jimmy Fallon, Tina Fey, Kristin Wiig, and Amy Poehler have all appeared on SNL over the years.

Michaels left SNL for five years before being recruited by NBC’s then-chief programming officer, Brandon Tartikoff, to return and nurse the failing show back to national prominence. In 1985, Michaels returned as executive producer, a position he still holds today.

SNL has received over 60 Emmy Awards during its decades-long run. Michaels was awarded the Mark Twain Prize for American Humor at the 2004 Kennedy Center Honors. TIME magazine named him to its list of the “100 Most Influential People” in 2008. Michaels received an Individual Peabody Award in 2012. In 2016, he was awarded the Presidential Medal of Freedom by President Barack Obama.

Michaels has a mixed reputation in the world he’s created. Many cast members regard him as a paternal mentor, while others regard him as cold and withholding. Michaels is described as intimidating and cryptic in the context of SNL auditions, frequently making comedians wait for hours outside his office before speaking with them. Michaels is also known for always having a full bowl of popcorn in his office and for always employing three young female assistants known as “the Lornettes.”

Tom Shales and James Miller published Live From New York: An Uncensored History of Saturday Night Live in 2002, which includes anecdotes about the executive producer from cast members and guest hosts over the years, both flattering and demonizing. Micheals reportedly stated that he had never read the book and had no plans to do so.

After receiving criticism for the show’s lack of diversity, Michaels sought to improve it by hiring more African-American writers and performers; one such talent, stand-up comedian and actress Leslie Jones, became a fan favorite after her debut in 2014.

Michaels was praised prior to the start of the 2019 fall season for promoting writer Bowen Yang to series regular, making him the first Chinese American cast member in SNL history. But Michaels also made a mistake when it was revealed that another new hire, comic Shane Gillis, had a history of offensive language and racist comments, prompting Gillis to leave shortly after.

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Other Producer Credits 

Broadway Video, Lorne Michaels’ production company, was founded in 1979. The company is well-known for producing shows such as Kids in the Hall, as well as films based on Saturday Night Live sketch acts such as Wayne’s World and Tommy Boy.

Michaels is also known for developing the talent he discovers on SNL. After David Letterman left NBC for CBS in 1993, he chose O’Brien, then a writer on Saturday Night Live, to host Late Night. Michaels served as Late Night’s executive producer and remained in that position when Fallon took over the show in 2009.

Michaels also served as executive producer for The Tonight Show after Jimmy Fallon took over for Jay Leno in 2014, and for Late Night with Seth Meyers when the former Saturday Night Live head writer debuted his new show that same year.

Michaels has served as executive producer on projects created by Fey, including the critically acclaimed 30 Rock, former SNL cast member Fred Armisen’s IFC show, Portlandia, and former SNL writer Emily Spivey’s series, Up All Night.

Personal Life

Michaels has friendships with Paul McCartney, Paul Simon, and former SNL cast member Steve Martin. From 1973 to 1980, he was married to Rosie Schuster, and from 1984 to 1987, he was married to Susan Forristal. Michaels married Alice Barry in 1991, and they have three children.

Further Reading

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