“That always scares and intimidates me”: Steven Spielberg, Who Reportedly Earns $150 Million Every Year, Finds the Most Joy in Giving Away His Money to Those Who Need It the Most
With his monumental contributions to cinema, Steven Spielberg has become one of the most acclaimed and honored filmmakers in the industry. His remarkable work has earned him substantial recognition from his peers and significant wealth, placing him among not only Hollywood’s richest filmmakers but also the wealthiest individuals in the world.
Steven Spielberg | Credit: Gage Skidmore/Wikimedia Commons
However, Spielberg is not particularly concerned with his wealth, stating that it doesn’t affect him in any meaningful way. Instead, he finds true joy in philanthropy, experiencing the greatest satisfaction in giving his money to those who need it most.
Steven Spielberg Finds the True Joy in Philanthropy
Steven Spielberg has experienced his share of struggles, as the filmmaker has shared that he was making a little over $100 a week at one time in his career. However, his fortunes have changed significantly for him, as he reportedly makes $150 million a year.
Hollywood filmmaker Steven Spielberg | Credit: Elena Ternovaja/Wikimedia Commons
According to Celebrity Net Worth, Spielberg has a net worth of $8 billion and owes extensive real estate around the world, including his massive Los Angeles compound with its own vineyard.
Despite his frequent appearances among some of the richest men in the world, the filmmaker himself has expressed disinterest in his earnings. In a 2013 interview with the Economic Times, he reflected on his wealth, saying,
I only look at what I have. That always scares and intimidates me. I tell my business people, don’t tell me what I got, I don’t want to know. It doesn’t have any effect on my life. We are not in want of anything.
Steven Spielberg | Credit: Gage Skidmore/Wikimedia Commons
He further shared that he finds true joy in giving away money to those in need, stating that philanthropy is a significant part of his life. “But the thing I find most rewarding about having money is that I can give it away,” he said before adding, “So, in mine and my wife’s life, philanthropy plays a huge role.”
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In a different conversation with Rolling Stone, he voiced concern for those lacking resources and exposure. And he aims to help them through his philanthropic efforts. “But that’s all I essentially do: fight it with money,” while noting that he prefers to keep his specific contributions private.
Steven Spielberg’s Legacy as a Philanthropist
Beyond his cinematic achievements, filmmaker Steven Spielberg has also dedicated a significant portion of his wealth and time to philanthropic endeavors. A passionate advocate for Jewish causes, he established The Righteous Persons Foundation with his earnings from the Oscar-winning film Schindler’s List.
He has also been committed to preserving the memory of the Holocaust and has established the USC Shoah Foundation Institute. It maintains one of the largest digital video libraries in the world and uses it for educational purposes.
Steven Spielberg | Credit: IMDb
Additionally, he has also contributed to improving the quality of life for children with chronic illness through Starlight Children’s Foundation. The Oscar winner also donated $750,000 to the American Red Cross along with an additional $750,000 to The Bush-Clinton Katrina Fund following the disastrous Hurricane Katrina.
Spielberg continues to make significant philanthropic contributions through the Righteous Persons Foundation and the Wunderkinder Foundation, which support various causes in Los Angeles and New York. The Fabelmans director is also known for making several anonymous donations.
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He has also earned recognition for his philanthropic efforts, the prestigious Genesis Prize in 2021. The $1 million award was distributed to 10 nonprofits focusing on racial and economic justice in the U.S. Spielberg and his wife, Kate Capshaw, matched the amount with an additional $1 million contribution to the organizations.
Spielberg’s philanthropic legacy is vast and diverse, including support for Jewish issues, health care, arts and culture, education, and social justice. His dedication to giving back has had a profound impact on many communities and continues to be admirable.