💰Peter Guber Net worth: $800 Million
Peter Guber net worth: Peter Guber is an American film producer who has a net worth of $800 million. Peter Guber has been a prominent figure in the entertainment industry for over forty years. Guber serves as Chairman and CEO of Mandalay Entertainment Group. It is a multimedia entertainment company Mr. Guber founded in 1995, which since has turned into one of the leaders in providing motion pictures, television and sports entertainment. Some notable Mandalay movies include The Kids Are All Right, Soul Surfer, and Bernie. Prior to Mandalay Entertainment, he was Chairman and CEO of Sony Pictures Entertainment, Chairman and CEO of Polygram Entertainment, Co-Founder of Casablanca Record & Filmworks and President of Columbia Pictures. Under Guber's personal guidance, as producer or executive producer, were created Rain Man, Batman, The Color Purple, Midnight Express, Gorillas in the Mist: The Story of Dian Fossey, The Witches of Eastwick, Missing and Flashdance. His movies have earned more than $3 billion worldwide and around 50 Academy Award nominations. He is a #1 New York Times Bestselling Author, thanks to his 2011 book, Tell to Win, one of the three books Guber has penned.
Sports investments: Along with venture capitalist Joe Lacob, Peter Guber purchased the Golden State Warriors in 2010. Guber serves as the co-executive Chairman and co-managing partner of the team. Guber is also a minority owner in the Los Angeles Dodgers and the Los Angeles Football Club soccer team.
Sony: In 1980 Peter teamed up with fellow producer Jon Peters and formed Polygram Productions. The company morphed into Boardwalk Productions with the addition of producer Neil Bogart – though Bogart died in 1982. Eventually the Guber-Peters partnership, now known as Guber-Peters Entertainment, produced a string of blockbusters, including "Caddyshack", "An American Werewolf in London", "Flashdance" and "The Color Purple".
They parlayed their success into one of the most lucrative production deals of all time to that point, under Warner Brothers. While working for Warners, Jon and Peter's most successful project was 1989's "Batman" which earned more than $400 million worldwide on a budget of $35 million. This enormous success earned Guber and Peters an multi-million dollar contract offer from Warner Brothers which they initially accepted.
Sony: Not long after signing their deal, Sony came knocking and acquired Guber-Peters Entertainment for $50 million in a deal that would have the duo become Co-Chairman of Sony Pictures. There was just one problem: They were still under contract with Warner Brothers. Warner sued the duo and Sony for $1 billion for breach of contract. Sony ultimately agreed to pay Warner Brothers $500 million to release the two from their contracts. As such, Jon Peters and Peter Guber became the co-Chairman on Sony Pictures. They had no experience running a major studio.
While running Sony, Peters and Guber oversaw the production of dozens of very high profile and very expensive movies, many of which flopped. The oversaw the spending of $8 billion on production and other costs, ultimately causing Sony to lose more than $3 billion during the Peters Guber tenure. When they left Sony in the mid 1990s, Peter and Jon each earned $30-50 million severance package.
