How Howard Stern Used Enormous $500 Million SiriusXM Contract To Build Staggering Collection of Luxury Homes
According to The Sun, the 71-year-old—who started hosting the "Howard Stern Show" in 2006—may end his 19-year run on the radio network when contract negotiations get underway later this year. An insider alleges that, while SiriusXM is planning to make the host an offer, executives do not expect their number to be high enough that he will accept it.
"Stern's contract is up in the fall, and while Sirius is planning to make him an offer, they don't intend for him to take it," one insider said.
"Sirius and Stern are never going to meet on the money he is going to want. It's no longer worth the investment."
The source claimed that the broadcasting corporation is not going to be able to continue paying Stern's salary.
According to the source, the decision to end what has been a largely successful collaboration with Stern comes as a result of tightening purse strings, with the unnamed insider comparing the move with CBS' recent cancellation of Stephen Colbert's "The Late Show."
"After you saw what happened with Stephen Colbert, it's like they just can't afford to keep him going," the source added.
Another insider hinted that Stern's political beliefs aren't helping solidify him a seat at the table next year, suggesting that his outspoken disdain of President Donald Trump may end up costing him.
"If Sirius isn't going to give Stern a good offer, I don't think it would have anything to do with his ratings. It's more likely everything to do with the political climate," the insider claimed.
Another insider claimed that Stern—who boasts a net worth of $650 million, per CelebrityNetWorth— has grown tired of the broadcasting company's reliance on radio icon Andy Cohen, causing him to debate "parting ways" with SiriusXM.
Another source told the Daily Mail that Stern may take a one- or two-year contract.
'He may do a one- to two-year contract if they can meet him where he wants financially. He doesn't want to pull the plug on his employees like this,' the source said.
Reports of a cancellation come as Stern's listeners plummeted from 20 million daily to 125,000.
Ever since the COVID-19 pandemic, Stern—who shares daughters Emily, Debra, and Ashley with ex-wife Alison Berns and has been married to Beth Ostrosky since 2008—has barely stepped foot in the recording studio and now works at one of his many lavish homes.
It comes as no surprise that Stern has been recording from his opulent dwellings because he spent much of his $500 million contract on building a property empire.
As Stern's contract comes to an end, he is sure to be hunkering down at one of his many pads more than ever. Now, Realtor.com® has lifted the lid on the impressive property portfolio that his career as a radio host has granted him.
Palm Beach palace
One of the crown jewels in Stern's property portfolio is his Palm Beach, FL, property, which he snapped up for $52 million in 2013.
The radio host is known to gush about Florida's lovely weather and the state's tax laws, so it came as no surprise that he picked up the 3.23-acre abode and claimed to want to retire there.
In addition to the $52 million he paid for the dwelling, Stern spent $13 million renovating the 19,000-square-foot home, which was built in 1992.
The five-bedroom, 12.5-bathroom dwelling features a 1,000-square-foot closet for Ostrosky, according to the Miami Herald.
She gushed about the home the same year they purchased it, revealing that they decided on Palm Beach because they have friends in the area and 'ended up having a little life there.'
Southhampton sanctuary
Stern and Ostrosky's main residence is their Hamptons dwelling, which the radio host picked up in 2005 for $20 million. It is now estimated to be worth an eye-watering $51 million.
The eight-bedroom, 12-bathroom property measures more than 15,000 square feet and is situated on 4.25 acres.
The opulent property comes with a bowling alley, a wine cellar, a tasting room, a pool, a cabana, and a spa.
The primary bedroom is a staggering 1,500 square feet and boasts a balcony, an office, and a his-and-her bathroom.
Manhattan manor
The last of Stern's impressive properties is his stunning Manhattan abode near Lincoln Center. It was previously his main residence.
Stern purchased the two-floor penthouse over the course of a decade for $21 million.
He holds the keys to the 53rd and 54th floors of the Millennium Tower, which is one of Manhattan's most lavish residences.
His penthouse is made up of five condominiums and sprawls 8,000 square feet.
He snapped up the three condos on the 54th floor in 1998 for $6 million.
Stern then picked up two condos on the 53rd floor in 2008 for $15 million.
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