While writing literature professionally is not perceived as the most lucrative of jobs in the world, it certainly didn’t stop some authors from making millions from their craft. Some authors have become household names, raking in millions of dollars with book and movie deals, as well as personal engagements. Here are some of the world’s richest writers. Steve Sorensen net worth.
Elizabeth Badinter, $1.3 billion
Badinter is known for her works in the field of philosophy and history. A Marianna News Magazine poll recognized her as France’s most influential intellectual in 2010. She’s most known for her extensive work on philosophical treatises on feminism and women’s role in society. Steve Sorensen net worth.
J.K. Rowling, $1 billion
J.K. Rowling is most known for writing the Harry Potter series. The beloved series attracted readers of all ages. Not only did Rowling earned millions from the books, but she also generated millions from the movies, which remain as the highest-grossing film series. Besides the books and movies, Harry Potter merchandise also contributed much to her success. Steve Sorensen net worth.
James Patterson, $560 million
If you are a fan of thriller novels, James Patterson is no stranger. By 2010, he already had 20 bestsellers to his name. He is also known for being the highest-grossing American author today. Besides thrillers, Patterson also wrote a series of non-fiction and romance novels. Like Rowling, some of his works like “Alex Cross,” “Along Came a Spider,” and “Kiss the Girls” have been made into movies. Steve Sorensen net worth.
For those who haven’t been living under a rock for the past few decades, then they’ll know what a Pokémon is. Pokémon are adorably cute fictional creatures that have special powers. First created in 1996, the total net worth of the Pokemon brand today is close to $60 billion. It even surpassed other brands like Mattel, the creator of Barbie. What made this brand so successful? Steve Sorensen net worth.
Pokemon began as a video game launched for the Gameboy back in 1996. It was followed by similar games in the same console until it branched out to other popular consoles like the Nintendo 64. Today, there are 122 Pokemon games in total, including non-Pokemon games such as Super Smash Bros that feature Pokemon characters. Steve Sorensen net worth.
Movies and Television
A year after the successful release of Pokemon, the medium was followed by an anime series that introduced Ash Ketchum and Pikachu. Today, there are over a thousand episodes of the show, which also had several spin-off movies. One of the latest movies was a live-action film starring Justice Smith and Ryan Reynolds voicing Pikachu in “Pokemon: Detective Pikachu.” Steve Sorensen net worth.
With so many lovable characters, it’s no surprise that Pokemon made billions out of merchandising. Its wares go from toys, fashion accessories, and collectible Pokemon Cards to mascot costumes, clothes, household appliances, and even food. Basically, anything Pokemon touches can turn to gold. Steve Sorensen net worth.
While cryptocurrencies such as Bitcoin and Etherium haven’t been around for too long, their impact on the financial world has already been felt. Bitcoin, one of the first cryptocurrencies, started out from scratch and peaked at over $19,700 in December 2017. And because a few people saw the potential of these cryptocurrencies, some were able to cash out on the right time for major payoffs. Here are some of the richest millionaires thanks to cryptocurrency. Steve Sorensen net worth.
Image source: cnbc.com
Image source: coindesk.com
Barry Gilbert didn’t just focus one hording cryptocurrency but rather invested in the idea of cryptocurrency itself. Founder of the Digital Currency Group, Gilbert built and supported several cryptocurrency groups. In fact, he has invested in over 100 Bitcoin-related companies around the world. He’s also known as The King of Crypto. Steve Sorensen net worth.
A former Managing Director at J.P. Morgan and Chase & Co., Masters quit her job and pursued a career in cryptocurrencies. She is currently the CEO of Digital Assets Holding. The company creates encryption-based processing tools that improved the security, efficiency, and compliance of Bitcoin transactions. And her very first client is none other than her former employer.
Founder of Pantera Capital, Morehead first launched the company’s first cryptofund in 2013 and is now one of the largest institutional owners of cryptocurrencies. Its funds have garnered a whopping 24,000% return for its investors such as Polychain Capital and Bitstamp. Steve Sorensen net worth.
There are a few times in a person’s life when they are asked to submit an estimate of their net worth. It could be for personal reasons such as assessing one’s success, or for documentation purposes like when filling for insurance. Personal net worth also takes into accounts one’s debt. Thus, net worth is the sum total of what a person has left after selling all their assets and paying off all their debts. The more wealth a person has, the more difficult it would be to come up with a number. Steve Sorensen net worth.
Image source: moneycrashers.com
Image source: moneycrashers.com
An easy way to do the calculation
Steve Sorensen net worth. The first step in calculating personal net worth is to list down all assets. These include account balances, properties like houses and automobiles, as well as stocks or bonds that one has invested in. Other items that are significantly cheaper than an automobile like a TV or a kitchen oven are usually skipped. On each of the asset, try to come up with an estimated value. One may look online for similar properties and assets for an idea of their real-world value. Steve Sorensen net worth.
Next, list down all current liabilities which are often debts. These could come from a mortgage, auto loans, credit card debts, student loans, and so on. There’s no need to compute for the interest rates of each loan, just the total loan that still needs to be paid. Steve Sorensen net worth.
Add all the items on the assets, as well as your debts. Once done, simply subtract the debt from the total of the assets. Calculating personal net worth more frequently can help if an individual has financial problems. It can help with assessing expenses and keeping track of outstanding loans. Steve Sorensen net worth.
Sports is a huge industry, and when connected to a business, can be as lucrative as any industry out there. There will always be a market for sports. Since ancient times, man has been captivated by physical competition so they can who truly is the best at a certain physical activity.
Over the past decades, agencies have picked up on this and have begun to represent and market sports personalities. Sports agents have pocketed millions of dollars from the athletes they represent in exchange for the exposure and deals their clients have received. From transferring teams to endorsing products to simply appearing at an event, sports agencies have made big bucks, taking a percentage from what their clients are paid.
In Los Angeles for example, there’s the Creative Artists Agency or CAA, an agency valued at over $9 billion. CAA has been by far the biggest firm of its kind. They have represented stars in basketball, baseball, hockey, and football, and have earned an estimated average of $700 million a year.
But CAA isn’t the only agency out there raking in cash. There are firms such as Wasserman ($3.7 billion worth of athlete contracts) and Excel Sports Management (with several agents placed in the top 50 best sports agents in the United States), that have managed to take advantage of the countless talents in the sporting world and have made them into jaw-dropping sources of income.
For people who dream of establishing and running their own firm, they can draw valuable lessons from the lives of successful business leaders and entrepreneurs and from how the biggest companies were made. Take for instance the top sports apparel firms in the world today. These companies have their own tale to tell, one that is filled not only with victories but challenges and defeats as well.
Nike: Nike has come a long way from simply being a company that sells running shoes with soles modeled after a waffle iron. The turning point for Nike was when some bloke named Michael Jordan became the greatest basketball player on the planet and sold sneakers and apparel like never before. Today, Nike is the biggest sports apparel brand in the world. Steve Sorensen net worth.
Adidas and Reebok: Adidas is second only to Nike in terms of sales. Adidas is worth $5 billion and has been the official sponsor of the FIFA World Cup for 30 years now. Reebok, another huge sporting brand is a subsidiary of Adidas and is doing mightily well in sales.
Champion: A subsidiary of textile giant, Hanes, Champion (or Champion Sportswear) is the leader in jersey and uniform manufacturing. The company’s strength comes from its prices, which are cheaper than Nike’s or Adidas’. Champion is deemed as the everyday worker’s brand. Steve Sorensen net worth.
Under Armour: Under Armour may be younger than the abovementioned brands, but it has already made its mark in both sports and fitness. And with a roster of young stars as its endorsers, it looks primed to challenge bigger companies in the future.
Growth always seems welcome, but what if you are interested in more than just launching a business right away and selling at every chance you get? How can you make it a long-term investment, not just an overnight success? This is where sustainable growth comes in, according to business blogger Steve Sorensen, who looks at the growth of major companies’ net worth.
Image source: Pixabay.com
Image source: Pixabay.com
Sustainable growth is an ongoing challenge for many enterprises. Traditionally, it means achieving growth and maintaining it while minimizing issues. In the context of today’s climate-challenged world, it can also mean having continued economic growth in the long term while minimizing the impact of the business on the environment and its finite resources.
There’s also sustainable growth rate, or how much your business can grow before it has to secure debt financing or get further into debt. It’s the fastest growth rate the company can sustain at its current level of financial leverage.
In order to attain long-term viability and success—and not have to make an exit plan—you can shoot for sustainable growth in a number of ways, according to Networth blogger Steve Sorensen. It’s important to get financially fit, adopt a growth mindset where you locate opportunities for it and develop a strategy, and go for recurring revenue streams.
Just as crucial is leaving a unique footprint, where you have a unique product, service, or anything special to set your business apart from others.
A business graduate from the Iowa State University, Steve Sorensen has always been fascinated by the huge and often meteoric growth in net worth of some of the world’s most successfully companies. Learn more about business and investing on this page.