Larry David owns 15% of a TV franchise that has generated roughly $5 billion. In 1984, he was the SNL writer who couldn't get a single sketch on air and stormed off the job, only to come back Monday as if nothing had happened.
Before that, he'd been working odd jobs across New York City, limousine driver, store clerk, bra wholesaler, trying to make stand-up comedy work since 1974.
In 1989, he and Jerry Seinfeld created a sitcom for NBC. Both started with 7.5% of the backend equity, a permanent share of anything the show made from reruns or licensing. As Seinfeld became the most-watched comedy on American television, the two renegotiated. Both reached 15% each.
When Seinfeld ended in 1998 after nine seasons, the rights to rerun it on local TV stations sold for $1.7 billion. David's 15% came out to about $250 million in a single payout. That stake paid out from every deal that followed: $80 million when Hulu bought streaming rights in 2015, $75 million when Netflix took global rights in 2019. He still collects an estimated $40-50 million per year from reruns and licensing.
In 2007, he divorced his wife Laurie and gave her roughly half his fortune, somewhere between $200 and $300 million, plus a cut of all future Seinfeld royalties. Before the divorce, his total earnings from Seinfeld were estimated above $800 million. He told Rolling Stone: "My wife got half of it, the whole thing is ridiculous." His current net worth sits around $400 million.
Curb Your Enthusiasm added to it. The show ran on HBO from 2000 to 2024, 12 seasons and 120 episodes, and by 2023 he was earning $20 million per season for a show built entirely from his own social anxieties.
His new limited series, "Life, Larry and the Pursuit of Unhappiness," premieres June 26. Co-produced by Barack and Michelle Obama's company, Higher Ground, it runs seven episodes through August 7, with Barack Obama appearing in a sketch. The Seinfeld franchise has generated roughly $5 billion across three decades of reruns, streaming deals, and cable rights. David's 15% stake, negotiated when he and Seinfeld were pitching a show nobody expected to last, is one of the most quietly lucrative content deals in television history.
Larry David stars in a new trailer for the limited series 'Life, Larry and the Pursuit of Unhappiness.'
Premiering June 26 on HBO Max.