An interview that I saw between Howard Stern and Bob Hope years
ago stuck in my mind because of what Hope said about his extraordinary wealth. His
brother was the brains behind his real estate empire. With the power of the
internet, today I searched for that episode. As it turns out, it was only 40
seconds of the interview in which Hope
explains that it was his brother that got him to be the owner of significant
amounts of land. Hope was reported to be one of the top 10 richest men from his
Hollywood era crowd (1940s & 50’s).
Here’s the clip:
In 1983, Bob Hope
disputed Forbes estimate of his wealth:
After Hope refuted the wealth claim, a reporter named Richard Behar did what appears to be a thorough job in estimating Hope’s wealth at that time. The research was in response to Forbes estimate that Bob Hope’s net worth was $200 million plus, which put Hope on the Forbe’s 400 list. The reporter’s conclusion was that Hope’s wealth was probably closer to $115 million, of which $85 million was in real estate holdings.
After Hope refuted the wealth claim, a reporter named Richard Behar did what appears to be a thorough job in estimating Hope’s wealth at that time. The research was in response to Forbes estimate that Bob Hope’s net worth was $200 million plus, which put Hope on the Forbe’s 400 list. The reporter’s conclusion was that Hope’s wealth was probably closer to $115 million, of which $85 million was in real estate holdings.
A possible flaw in
the research:
Many high net worth individuals buy real estate through corporations they own and or put holdings in the names of others. A link to the Forbes article written by Peter Newcomb appears at the bottom of this article. He uses Behar’s research in the article.
Many high net worth individuals buy real estate through corporations they own and or put holdings in the names of others. A link to the Forbes article written by Peter Newcomb appears at the bottom of this article. He uses Behar’s research in the article.
At the time of Hope’s
death, the La Times estimated Hopes wealth to be $500,000,000. (Before his
death, Hope said: They say I’m worth $500 million. If I was worth that much, I
wouldn’t have visited Vietnam, I’d have sent for it.)
74% of Hope’s wealth
was in Real Estate:
It’s somewhat less important as to whether Hope’s wealth was $115 or $500 million. Even if Hope’s wealth was $115 million, it was documented that 74% of that number was real estate holdings. Many of Hope’s friends who also had significant earnings from the entertainment field, didn’t invest as aggressively in real estate as Hope did, and most never came close to the accumulation of wealth that Hope achieved.
It’s somewhat less important as to whether Hope’s wealth was $115 or $500 million. Even if Hope’s wealth was $115 million, it was documented that 74% of that number was real estate holdings. Many of Hope’s friends who also had significant earnings from the entertainment field, didn’t invest as aggressively in real estate as Hope did, and most never came close to the accumulation of wealth that Hope achieved.
What does a billion dollars in
donations look like?
Those who have studied Hope’s financials conclude that he gave away about $1,000,000,000.00 (one billion) in donations and charity during his lifetime. See the imdb biography link at the bottom of this article.
Those who have studied Hope’s financials conclude that he gave away about $1,000,000,000.00 (one billion) in donations and charity during his lifetime. See the imdb biography link at the bottom of this article.
One of Hope’s larget donations came from several acres of
prime real estate in Rancho Mirage, CA, which was originally bought to build a
racetrack. He later decided a medical center was needed in the area instead, so
he donated the land to build the Eisenhower Medical Center, which is rated among the top 100 hospitals in America today.
If you google the wealth of current era entertainers, you
will find that the top entertainers hover between $200 & $400 million in
net worth. Bob Hopes was estimated at around $150 million about 65 years ago.
The creation of wealth through real estate is proven throughout history.
You can find example after example of people who created
great wealth from their earnings by learning about and investing in real
estate. As any millionaire janitor can
tell you, it’s not how much you make, it’s how much you keep and compound!
Forbes Article (after page loads, click continue to site
upper right corner): http://www.forbes.com/2003/08/04/cz_pn_0804hopeedit.html
IMBD - Easy Read Biography Link: http://www.imdb.com/name/nm0001362/bio
real-estate-and-marketing.blogspot.com
If you have any questions about this post or marketing strategies, send me an e-mail using my gmail account set-up for this blog as follows: 813marketing@gmail.com
Feel free to contact me. I’m available to consult with sellers and agents who are in need of advanced marketing strategies. I have interests in Tampa and Sarasota Florida as well as Staten Island and Brooklyn New York.
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