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Forbes
3 days ago
- Business
- Forbes
J.K. Rowling Is A Billionaire—Again
The Dark Arts of Cancel Culture have been no match for the magic of Harry Potter author J.K. Rowling. If there was any price to be paid for placing herself at the center of the debate over transgender rights, you wouldn't know it by looking at her pugnacious feed on X (formerly Twitter). There, Rowling posts several times a day in support of gender fundamentalism to her 14 million-plus followers, frequently trading barbs with commenters—even fracturing her relationship with Potter stars Daniel Radcliffe, Emma Watson and Rupert Grint—while toasting her own personal successes. 'I love it when a plan comes together,' she wrote in mid-April, channeling The A-Team's Hannibal Smith, after the United Kingdom's Supreme Court ruled that the legal definition of a woman is based on biological sex. The accompanying photo showed Rowling holding a cocktail and smoking a cigar aboard her superyacht, which is valued at $150 million. Bruising culture war aside, the 59-year-old's Rowling's business empire is now larger than ever. In the four years since she began posting about transgender rights in 2020, Forbes estimates Rowling has earned more than $80 million per year from the sales of her books and the vast litany of Potterverse brand extensions, including movies, TV shows, theme parks, video games, theater and merchandise. Even after factoring in high U.K. taxes and her extensive charity ventures, she has comfortably rejoined the billionaire ranks with a net worth of $1.2 billion, according to Forbes estimates. Rowling was previously a fixture on the Forbes billionaires list from 2004-2011—the height of Pottermania—until new reporting in 2012 uncovered $160 million in philanthropic giving. In the years since, she's built back her 10-figure fortune through multimillion-dollar revenue streams across every conceivable medium. West End Wizardry: The Harry Potter stage play has sold more than 11 million tickets and grossed over $1 billion since opening in London in 2016. And her momentum is not slowing any time soon, with a new HBO Max series adaptation of the Harry Potter books going into production this summer, expected to run for a decade beginning in late 2026 and mint a whole new generation of fans. Forbes estimates that Rowling could earn about $20 million per year for her involvement in the new series—one part of a wide-ranging deal with Warner Bros.—and she was 'very, very involved in the process selecting the writer and the director,' said HBO Max CEO Casey Bloys in November. One has to imagine she had the same input in casting the new pre-teen Harry, Hermoine and Ron, announced on Monday. When asked about Rowling's politics on an episode of The Town with Matt Belloni in April, Bloys said, 'She's entitled to those views. And if you want to debate her, you can go on Twitter." In the nearly three decades since Harry Potter and the Philosopher's Stone debuted in 1997, Rowling has shrewdly expanded the Potterverse, building it into a franchise that is likely to run as long as Harry's fictional British compatriots Sherlock Holmes and James Bond. According to Habo Studio, a consulting firm that ranks the strongest intellectual property brands in the U.S. by surveying thousands of consumers, Harry Potter is the sixth strongest brand in all of entertainment, and No. 1 among millennials. Warner Bros. saw the potential of Rowling's intellectual property very early, licensing the movie rights before the first book was even released, when Rowling was still a single mother living on welfare—'as poor as it is possible to be in modern Britain without being homeless,' she told The London Times in a recent interview. By the time that first big screen adaptation came to theaters in late 2001, Rowling had published four Potter books and sold over 100 million copies, vaulting her from living off welfare checks to multi-millionaire celebrity status. Just two years later, Rowling's then-agent Chris Little told Forbes the Harry Potter series had sold 250 million copies, building Rowling's initial fortune. The film franchise would then go on to gross almost $7.7 billion at the global box office after its final installment in 2011, at the time the highest-grossing franchise in movie history. By then Rowling's contract with Warner Bros. had been renegotiated numerous times to include various provisions and protections, including participation in the films' profits, an executive producer credit on the final two movies and, most importantly, authority over 'non-author written sequels,' which meant that no further Harry Potter material could be developed without Rowling's approval. If there's one thing Rowling has been more fiercely protective of than her political beliefs, it is the rights to her signature characters. That contractual stipulation allowed Rowling to negotiate for screenwriting control over the Harry Potter spin-off Fantastic Beasts and Where to Find Them in 2016 and its two sequels. The third installment, released in 2022, was the first to be stress tested by public backlash (including calls for boycotts) to Rowling's stance against transgender rights. Fantastic Beasts: The Secrets of Dumbledore grossed $400 million at the global box office against a budget of more than $250 million, and is considered an enormous flop. Riding High: A sixth Wizarding World attraction was revealed at Universal's Epic Universe when the theme park opened in May. Still, Rowling was far from cancelled. By that point, tickets for her Harry Potter and the Cursed Child stage play were selling steadily on Broadway, in London's West End and five other locations around the world—grossing more than $1 billion since its premiere in 2016, of which Rowling shares in the profits. HBO Max was also producing the fifth season of C.B. Strike, an adaptation of Rowling's adult detective novels, written under the pseudonym Robert Galbraith. And in 2023 a new video game Hogwarts Legacy sold 24 million copies, the best-selling game of that year, grossing another $1 billion. Because of that momentum, Warner Bros. was eager to double down on Potter projects. When CEO David Zaslav was hired in 2022, he flew to Scotland to meet with Rowling to find a way to develop new wizarding world content. While Rowling held rights to prequels and spin-offs, Warner Bros. still controlled the material from the original seven novels, which is why the studio pursued a remake of the original series. Eventually the project secured Rowling's blessing in 2023. 'Max's commitment to preserving the integrity of my books is important to me,' Rowling said in a statement last April when the show was announced. Despite the obvious ubiquity of the Potterverse, analysts believe that Rowling's tight-fisted control and near-singular authorship over the Harry Potter world has protected it from the kind of overexposure and dilution that has plagued other popular intellectual property in recent years, such as Disney's Marvel and Star Wars universes. Everywhere the Potter brand goes, it finds eager customers. When Universal's Islands of Adventure theme park opened its first Wizarding World attraction in 2010, it saw a 36% jump in attendance and a 40% increase in revenue. Comcast's annual financial report called it 'transformative to the company,' and it has since implemented Harry Potter into its parks in Orlando, Hollywood, Tokyo and Beijing, all of which saw boosts in attendance as a result. Similarly, an hour north of London, a studio tour of the Warner Bros. lot branded 'the making of Harry Potter' reported over $300 million in revenue and $120 million in operating profit in 2023. "Nothing has ever given a 36% increase in attendance in parks, from Disney to Six Flag to whoever,' says Dennis Spiegel, founder and CEO of International Theme Park Services. "The Harry Potter licensing deal, in my opinion, is probably the greatest licensing arrangement that has been done in theme parks in the last 40 years." Universal licenses the property from Warner Bros., and by extension Rowling gets a percentage of every purchase in that portion of the park, everything from wands to scarfs to butterbeer. According to Forbes estimates, theme parks account for the second largest income stream for Rowling over the past decade. Of course, the largest portion of Rowling's empire continues to be her book sales. The Harry Potter series has sold more than 600 million copies worldwide, according to its U.S. publisher Scholastic, and has been on the New York Times Best Seller List for 843 weeks and counting. A hardcover edition of the script for Cursed Child—written by veteran playwright Jack Thorne but based on a story by Rowling, Thorne and director John Tiffany—sold more than four million copies in its first year of release in 2016, and a picture book Christmas at Hogwarts was the No. 1 holiday book overall in 2024. In addition, Rowling has published five Comoran Strike novels under the Galbraith pseudonym since 2013. Rowling never sold the rights to ebooks for her work, instead founding Pottermore Publishing in 2012, a business that took off during the pandemic and now pays her several million per year. A spokesperson from The Blair Partnership, Rowling's management team, declined to comment on her wealth but sent the following statement to Forbes: 'The global passion for Harry Potter continues to drive growth and innovation across the brand, supported by our incredible partners—from publishing and theme parks to consumer products, theatre, gaming, and television. With numerous exciting new projects in development globally, fans from every generation can look forward to even more meaningful ways to experience the magic of J.K. Rowling's beloved stories. We're thrilled about this next chapter in the franchise, including the 10th anniversary of Harry Potter and the Cursed Child, the full-cast audiobooks from Pottermore and Audible featuring over 100 actors, and, of course, the highly anticipated HBO Max television series.' Based on her earnings and diverse revenue streams, Rowling's net worth could be considerably higher, were it not for her commitment to philanthropy. Forbes estimates she has donated more than $200 million in the past 20 years, primarily to three causes: Lumos, which has helped more than 280,000 abandoned children in orphanages in Romania, Haiti, Colombia and Ukraine; Volant, which supports victims of sexual abuse and domestic violence; and the Anne Rowling Regenerative Neurology Clinic, which treats patients with neurological conditions such as MS, the disease that took her mother's life when Rowling was just 25. She has also been very vocal about maintaining her residency in Edinburgh, Scotland, and paying the country's highest income tax rate of 45%. In 2010, Rowling wrote that she wants her children to be 'citizens, with everything that implies, of a real country, not free-floating ex-pats, living in the limbo of some tax haven and associating only with the children of similarly greedy tax exiles.' She considered it a form of payback for how far she had come in her own life, adding, 'I am indebted to the British welfare state,' and that it is 'my notion of patriotism' to pay into the system for others. Still, Rowling doesn't shy away from her wealth in the public square of social media, where she deploys it as a trump card against those who would condemn her for her anti-trans statements. 'How do you sleep at night knowing you've lost a whole audience from buying your books,' wrote one X user in 2022. 'I read my most recent royalty cheques,' Rowling replied, 'and find the pain goes away pretty quickly.'
CNN
14-05-2025
- Entertainment
- CNN
Trump addresses Qatari jet gift
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