Merv Griffin Net Worth - Pulptastic

What was Merv Griffin’s Net Worth, Salary and Royalties?

Merv Griffin, the American television host, musician, actor, and business tycoon, had a net worth of $1 billion at the time of his death in 2007. He was best known as the host of The Merv Griffin Show and the creator of Jeopardy! and Wheel of Fortune.

Griffin used his entertainment fortune to invest in real estate, building a valuable portfolio of hotels. He was inducted into the Hollywood Walk of Fame in 1974 and posthumously into the Television Hall of Fame in 2008.

Early Life and Education

Mervyn Edward Griffin Jr. was born on July 6, 1925, in San Mateo, California to a stockbroker father and homemaker mother. He grew up in an Irish-American Catholic family and developed musical skills singing and playing the piano at church. He graduated from San Mateo High School in 1942 and attended San Mateo Junior College and the University of San Francisco. Despite his desire to serve in World War II, a heart murmur prevented him from passing the physical examinations. He was also exempt from the draft for the Korean War due to his age.

Merv Griffin’s Career Beginnings

Merv Griffin started his career as a singer on the radio show San Francisco Sketchbook at the age of 19. He was discovered by Freddy Martin, who invited him to tour with his orchestra for four years. In 1945, Griffin started his own record label, Panda Records, and produced the first American album ever recorded on magnetic tape, titled Songs by Merv Griffin. His music career led him to be discovered at a nightclub performance and he was given a screen test by Doris Day at Warner Bros. Studios, which landed him supporting roles in films.

Merv Griffin’s Career in Television

Merv Griffin hosted game show Play Your Hunch from 1958 to 1962 and became a substitute host for Jack Paar on The Jack Paar Tonight Show, where he scored some of the show’s highest ratings. NBC gave him his own daytime talk show which debuted on the same day as Johnny Carson first hosted The Tonight Show. From 1965 to 1986, Griffin hosted his own talk show, The Merv Griffin Show, which won 11 Emmy Awards during its 21 years on air.

Merv Griffin’s Success as a Game Show Creator and Producer

Merv Griffin was not only successful as a show host but also as a creator and producer of game shows. He created and produced the popular television game show Jeopardy! in 1964 for NBC, which was later canceled in 1975. Griffin then produced its successor, Wheel of Fortune, which premiered in January 1975 and was also canceled in 1991. Both shows were later revived and syndicated versions remain on the air today.

Griffin worked on several other game shows as a creative consultant or producer through his production company Merv Griffin Entertainment. These include spin-offs of his original shows such as Wheel 2000, Jep!, Rock & Roll Jeopardy!, Click!, and Headline Chasers. Additionally, Merv Griffin Entertainment produced the syndicated game show Merv Griffin’s Crosswords in 2007, which only lasted one season on NBC-owned stations in New York, Los Angeles, Chicago, San Francisco, and Dallas, ending in May 2008.

Merv Griffin Earned Over $100 Million in Royalties from Jeopardy Theme Song

In a 2005 interview with the New York Times, Merv Griffin revealed that he had earned $70 to $80 million in royalties from the Jeopardy theme song up to that point. Today, the total amount earned by his heirs is easily north of $100 million. The most remarkable part is that Griffin wrote the music in only 30 seconds.

Merv Griffin’s Business Ventures

Merv Griffin founded Merv Griffin Enterprises in 1963, which he later sold to Columbia Pictures Television for $250 million. He continued to retain the title of the creator of Jeopardy! and Wheel of Fortune. Griffin also ventured into real estate, purchasing the Beverly Hilton Hotel in Beverly Hills, California, and the Paradise Island Resort and Casino in the Bahamas, which he later sold for $125 million. He also owned the Merv Griffin Givenchy Resort & Spa in Palm Springs, California, and St. Clerans Manor, a boutique hotel in County Galway, Ireland. His wealth was estimated to be around $1.2 billion in 2003.

However, he did face some business struggles when he sought bankruptcy for Resorts International Inc., the hotel and casino operator he had purchased in 1988, in December 1989. It was the holding company for casinos in Atlantic City and the Bahamas.

Merv Griffin’s Personal Life and Death

Merv Griffin was married to Julann Wright from 1958 to 1976, and they had one son together. Griffin was diagnosed with prostate cancer in 1996 and again in 2007. He passed away on August 12, 2007, at the age of 82 while hospitalized at Cedars Sinai Medical Center in Los Angeles.

Following his death, his estate was sold for $7 million.