What is Harvey Weinstein’s net worth after his sentence?
Harvey Weinstein continues to reap what he has sowed. The former movie producer was sentenced to 16 years on charges of rape, in addition to the 23 years he’s already serving. Given that Weinstein is 70 years, he has essentially been given a life sentence.
Weinstein has spent the last half decade as arguably the most reviled figure in Hollywood. A series of assault allegations starting in 2017 led to his investigation and subsequent imprisonment in 2018. He received his first long-term sentencing in 2020, and has been behind bars ever since.
Because Weinstein had spent the previous decades as one of the most successful producers in the business, there’s been some speculation about his net worth and how much it has been affected by his fall from grace. Let’s deep dive in Weinstein’s fortune in 2023.
Rise to power
Harvey Weinstein, along with brother Bob, founded Miramax Films in 1979. It was created as a cheap distributor for foreign language films, but the marketing savvy of the Weinsteins led to several of these films being sleeper hits in the American market. Miramax was also known for working with unproven and commercially risky filmmakers who were passed on by other, more lucrative studios.
This willingness meant that Miramax was at the forefront of the indie movie boom of the 1980s and 90s. They released such classics as Sex, Lies, and Videotape (1989), The Crying Game (1992) and Clerks (1994), all of which were considered “game-changers” in their respective genres. They hit paydirt, however, with Quentin Tarantino’s Pulp Fiction (1994), which grossed $213 million on an $8 million budget and was nominated for seven Oscars. It has since been dubbed the “Star Wars of the 90s” in terms of its influence and lasting impact.
The winning streak continued into the 21st century with hits like Shakespeare In Love (1998), Chicago (2002) and the Lord of the Rings trilogy (2001-03). Three of these six films won Best Picture, and the trilogy grossed over $1 billion. By the 2010s, Harvey Weinstein was one of the most famous producers in Hollywood.
Assault allegations & #MeToo
Harvey Weinstein’s empire crumbled in 2017. More than 80 women came forward and accused the producer of sexual assault. Some of these allegations dated back to the 1970s, and many claimed that he coerced actresses into uncompromising positions under the pretense of boosting their careers.
Some of the women who have come forward and identified themselves (many have remained anonymous) are Asia Argento, Kate Beckinsale and Rose McGowan. “He is a sociopathic predator. He thinks he’s done nothing wrong,” McGowan told ABC’s Nightline. “I wish just one person would’ve stood up and said, ‘No more,’ because so many people had so many chances to put a stop to this.”
The allegations against Weinstein are what led to the creation of the #MeToo social media campaign. The producer was subsequently fired from Miramax (his brother also stepped down) and suspended from the Academy of Motion Picture Arts and Sciences. He was taken into custody in May 2018, meaning he has not been able to earn a consistent income in over six years.
Weinstein’s legal costs & net worth
During this six year period, Weinstein has had to spend millions in settlements and court fees. He reached an $18.875 million settlement with a group of his victims in 2021, in addition to the $9.7 million he paid former officers and directors of the Weinstein Co. The latter component of the lawsuit was meant to alleviate the legal fees that Weinstein’s employees were forced to pay over the course of his trial.
Seemingly every new piece of news about Weinstein has to do with him spending exorbitant amounts of money. He posted a $1 million bail after his initial 2018 arrest, and he sued Jose Baez for $1 million after the defense lawyer dropped his case six months in. For a Hollywood producer who was once worth $300 million, it may not sound like a lot, but years of spending without new money coming in has taken its toll.
Weinstein’s net worth is estimated to be around $25 million in 2023. It’s sizable, but it’s a far cry from the fortune he previously had, and it’ll be spent trying to alleviate the anguish of a life in prison.
