In this article, we discuss the 25 richest billionaires in media and entertainment industry. To skip our detailed analysis of the media and entertainment industry, go directly to the 5 Richest Billionaires in Media and Entertainment Industry.
Media and Entertainment Industry Outlook
Media and entertainment is a vast industry with many sectors including social media, film, music, television, and advertising, among others. On January 24, Variety reported that as per Omdia’s senior research director María Rua Aguete, the media and entertainment industry is expected to surpass a $1 trillion valuation in 2024. The trillion-dollar mark is driven by diverse segments, with online video projected to be valued at $345 billion, games at $255 billion, music at $44 billion, and cinema at $41 billion. These segments from the media and entertainment industry will significantly contribute to the industry’s growth.
During the COVID-19 lockdowns, the media and entertainment industry saw a rise. However, things started to change post-pandemic. The global entertainment and media revenue increased by only 5.4% in 2022 compared to a growth of 10.6% in 2021. According to a report by PwC, the revenue of the global entertainment and media industry is set to decline sequentially in the next five years. The revenue for 2027 is expected to grow by just 2.8% from 2026. Among many factors influencing the slowdown of the media and entertainment industry, consumer spending will remain the key reason as it continues to drop considering interest rate hikes and inflation. In PwC’s 26th Annual Global CEO Survey, around 40% of CEOs from the entertainment and media industry pointed out that their current business model would not be viable in ten years.
Big Players in Media and Entertainment Industry
Companies in media and entertainment are trying to tap into new areas and markets. Advertising is one of the key areas for growth and AI is also a top trend in the industry with media giants investing hefty sums in the technology. The Walt Disney Company (NYSE:DIS) and Warner Bros. Discovery, Inc. (NASDAQ:WBD) are two of the most valuable entertainment companies in the world, while Meta Platforms, Inc. (NASDAQ:META) owns some of the biggest social media platforms such as Facebook, Instagram, and WhatsApp.
The Walt Disney Company (NYSE:DIS) is an American multinational mass media and entertainment giant. On February 6, The Walt Disney Company (NYSE:DIS) announced that ESPN, the company’s subsidiary, Fox Corporation (NASDAQ:FOX), and Warner Bros. Discovery, Inc. (NASDAQ:WBD) are forming a joint venture to launch an innovative streaming sports service. Through this joint venture, all the companies will bring their portfolios of sports networks. The joint venture platform is expected to be launched in the second half of 2024 and will be available for customers through a new app. Each entity of the joint venture will have an equal board representation and own one-third stake in the venture.
Warner Bros. Discovery, Inc. (NASDAQ:WBD) is another leading American multinational mass media and entertainment corporation. On April 25, the company announced the launch of its proprietary first-party data platform, Olli. Through this new platform, Warner Bros. Discovery, Inc. (NASDAQ:WBD) now has control over the next generation of advanced advertising solutions for partners. In addition, Olli allows flawless campaign planning, activation, and measurement across the firm’s entire portfolio of premium content and brands. Here is what the head of digital Ad sales, Ryan Gould, said:
“With the introduction of Olli and Data-Driven Video, Warner Bros. Discovery offers a transformative approach to how media strategies are crafted and executed. Our goal is to ensure that every connection between brand and audience is reached in the most efficient and effective way across our vast expanse of digital and traditional platforms. We’ve already seen early success with this offering, and we look forward to bringing it to the wider marketplace working with marketers looking to activate advanced audience segments to achieve their advertising, sales, and marketing objectives.”
Meta Platforms, Inc. (NASDAQ:META) is one of the largest tech companies in the world. Meta Platforms, Inc.’s (NASDAQ:META) Facebook and Instagram are two of the biggest social media platforms for advertisers. On April 10, Meta Platforms, Inc. (NASDAQ:META) announced its next generation of custom-made chips designed to manage AI workloads. The latest generation chips will enhance performance compared to the last generation and lift the ranking and recommendation Ads models on Facebook and Instagram. The new chips are part of Meta Platforms, Inc.’s (NASDAQ:META) growing investment in AI technology.
The global media and entertainment industry is one of the most important markets worldwide. Consumer behavior towards the media and entertainment companies plays a vital role in defining the trend of the industry. With this context, let’s take a look at the 25 richest billionaires in the media and entertainment industry. You can also take a look at the best entertainment stocks to buy for 2024.
25 Richest Billionaires in Media and Entertainment
Our Methodology
We gathered the data for the 25 richest billionaires in the media and entertainment industry from the Forbes Real Time Billionaires Index. The list of billionaires from the media and entertainment industry is ranked in ascending order of billionaires’ net worths, as of April 27.
25 Richest Billionaires in Media and Entertainment
25. Hubert Burda
Net Worth: $3.7 Billion
Hubert Burda inherited the family media firm, Burda Media. Burda ran the media firm for more than 20 years before retiring in 2010. Hubert Burda ranks 25th among the richest billionaires in the media and entertainment industry.
24. Katharine Rayner
Net Worth: $3.8 Billion
Katharine Rayner inherited a 17% stake in media and automotive firm, Cox Enterprises. Katharine Rayner has a net worth of around $3.8 billion.
23. Margaretta Taylor
Net Worth: $3.8 Billion
Margaretta Taylor is the sister of Katharine Rayner as she also inherited a 17% stake in Cox Enterprises from her mother, Anne Cox Chambers.
22. James Chambers
Net Worth: $3.8 Billion
James Chambers is the brother of Katharine and Margaretta and has an equal stake of 17% in Cox Enterprises. James Chambers ranks among the richest billionaires in the media and entertainment industry.
21. Forrest Li
Net Worth: $3.9 Billion
Forrest Li founded the online gaming and e-commerce firm, Sea Limited (NYSE:SE). With a net worth of around $3.9 billion, Forrest Li ranks 21st among the richest billionaires in the media and entertainment industry.
20. Jason Jiang
Net Worth: $4 Billion
Jason Jiang founded the outdoor advertising firm, Focus Media Information Technology Co., Ltd. (SHE:002027). Jason Jiang is the chairman and CEO of the company.
19. Stefan von Holtzbrinck
Net Worth: $4.1 Billion
Stefan von Holtzbrinck inherited a stake in the German firm, Holtzbrinck Publishing Group. In 2006, Stefan von Holtzbrinck sold his shares to his siblings. Stefan von Holtzbrinck ranks 19th among the richest billionaires in the media and entertainment industry.
18. Barry Diller
Net Worth: $4.2 Billion
Barry Diller founded the Internet and media company, IAC Inc. (NASDAQ:IAC). Diller is the chairman of online travel giant, Expedia Group, Inc. (NASDAQ:EXPE). Barry Diller has a net worth of around $4.2 billion.
17. Isaac Perlmutter
Net Worth: $4.4 Billion
Isaac Perlmutter took the Marvel brand to new heights. In 2009, Perlmutter sold a majority of Marvel to The Walt Disney Company (NYSE:DIS) for $4 billion. Isaac Perlmutter has a net worth of around $4.4 billion and ranks among the richest billionaires in the media and entertainment industry.
16. Jeff T. Green
Net Worth: $4.7 Billion
Jeff T. Green is the CEO and chairman of advertising tech firm, The Trade Desk, Inc. (NASDAQ:TTD). Jeff T. Green has a net worth of around $4.7 billion.
15. Steven Spielberg
Net Worth: $4.8 Billion
Steven Spielberg co-founded DreamWorks studios and is a household name directing movies such as ‘Jaws’ and ‘Jurassic Park.’ With a net worth of around $4.8 billion, Steven Spielberg ranks 15th among the richest billionaires in the media and entertainment industry.
14. Charles Dolan
Net Worth: $5.1 Billion
Charles Dolan founded the Cablevision Systems Corporation in 1973 and sold the company to Altice USA, Inc. (NYSE:ATUS) for $17.7 billion in 2016. Dolan and his children own controlling stakes in entertainment firms including AMC Networks and Madison Square Garden Sports Corp. (NYSE:MSGS).
13. Mark Cuban
Net Worth: $5.4 Billion
Mark Cuban co-founded the video portal Broadcast.com in 1995 and sold the firm to Yahoo for $5.7 billion in 1999. Mark Cuban has a net worth of around $5.4 billion and is one of the richest people in the media and entertainment industry.
12. George Lucas
Net Worth: $5.5 Billion
George Lucas founded the filmmaking firm Lucasfilm and is famously known for creating ‘Star Wars’. In 2012, Lucas sold the production company to The Walt Disney Company (NYSE:DIS) for $4.1 billion.
11. Clive Calder
Net Worth: $5.7 Billion
Clive Calder became a billionaire in 2002 when he sold his music firm, Zomba Group, to German media giant Bertelsmann SE & Co. KGaA for $2.7 billion. Clive Calder has a net worth of around $5.7 billion and ranks among the richest billionaires in the media and entertainment industry.
10. Tim Sweeney
Net Worth: $5.7 Billion
Tim Sweeney is the co-founder and CEO of famous game developer Epic Games. Tim Sweeney ranks 10th among the richest billionaires in the media and entertainment industry.
9. Jim Kennedy
Net Worth: $5.8 Billion
Jim Kennedy is the chairman emeritus of Cox Enterprises and served the company as acting chairman from 2008 to 2021. Jim Kennedy has a net worth of around $5.8 billion.
8. Blair Parry-Okeden
Net Worth: $5.8 Billion
Blair Parry-Okeden inherited a 25% stake in Cox Enterprises following her mother’s death in 2007. Blair Parry-Okeden has a net worth of around $5.8 billion and is one of the richest people in the media industry.
7. David Geffen
Net Worth: $8 Billion
David Geffen founded the record labels Asylum Records, Geffen Records, and DGC Records. Geffen also founded the film studio DreamWorks Animation. David Geffen ranks seventh among the richest billionaires in the media and entertainment industry.
6. Igor Bukhman
Net Worth: $9 Billion
Igor Bukhman and his brother Dmitry own online gaming upstart Playrix Holding Ltd. Igor Bukhman has a net worth of around $9 billion.
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Disclosure. None. 25 Richest Billionaires in Media and Entertainment Industry is originally published on Insider Monkey.