Ted Field Net Worth: $30 Million
Category: Richest Business › Richest Billionaires
Net Worth: $30 Million
Birthdate: June 1, 1953 (70 years old)
Birthplace: Chicago, Illinois
Gender: Male
Profession: Entrepreneur, Film Producer, Television Producer
Nationality: United States of America
What is Ted Field’s Net Worth?
Ted Field is an American film producer, media mogul, and entrepreneur with a net worth of $30 million. Throughout his career, Ted has been referred to as a billionaire. However, a 2017 lawsuit revealed that at his peak, his net worth was around $100 million, which he achieved several decades ago. In 2018, Ted was listed as #4 on California Franchise Tax Board’s list of Top 500 delinquent taxpayers with a debt of $20.6 million.
Interscope Records
Ted Field co-founded Interscope Records with Jimmy Iovine, a label responsible for launching the careers of prominent artists like 2Pac, Snoop Dogg, Eminem, and Lady Gaga. In 1996, MCA Inc. purchased 50% of Interscope for $200 million.
Disputed Wealth
At times, Ted Field’s net worth has been estimated to exceed $1 billion. However, in a lawsuit, he admitted his peak net worth was $100 million. He also confirmed that he has been in debt for much of his adult life. In a judgment debtor examination, Ted revealed he is currently under a payment plan with the IRS, lives in an Airbnb due to a family loan, and drives a 2009 Nissan that needs work.
Producer Credits
As a film producer, Ted Field’s credits include:
- “Revenge of the Nerds”
- “Three Men and a Baby”
- “Cocktail”
- “Bill & Ted’s Excellent Adventure”
- “Arachnophobia”
- “Bird on a Wire”
- “The Hand That Rocks the Cradle”
- “Jumanji”
- “The Tie That Binds”
- “Operation Dumbo Drop”
- “Mr. Holland’s Opus”
- “The Associate”
- “Kazaam”
- “What Dreams May Come”
- “Runaway Bride”
- “Teaching Mrs. Tingle”
- “The Last Samurai”
- “The Texas Chainsaw Massacre”
- “The Chronicles of Riddick”
- “The Amityville Horror”
- “The Heartbreak Kid”
- “Bad Teacher”
- “Spring Breakers”
- “A Mother’s Courage: The Mary Thomas Story” (for which Field won a Primetime Emmy Award in 1990)
Early Life
Frederick Woodruff “Ted” Field was born on June 1, 1953, in Chicago, Illinois, into the prominent Field family, heirs to the Marshall Field department store empire. His grandfather, Marshall Field III, founded the ‘Chicago Sun’ newspaper, and his father, Marshall Field IV, owned several radio stations and the Chicago Daily News. Growing up in this environment, Ted was exposed to the business and media world from a young age.
Career
Ted Field’s career spans multiple industries, including film, music, and motor racing. In 1982, he co-founded the film production company Interscope Communications, producing successful films such as “Three Men and a Baby,” “Bill & Ted’s Excellent Adventure,” and “Jumanji.”
In 1990, Field co-founded Interscope Records with Jimmy Iovine, signing prominent artists like Dr. Dre, Eminem, and Lady Gaga. Interscope Records became known for signing controversial artists and shaping popular music in the late 20th and early 21st centuries.
Field also established the racing team Interscope Racing, competing in events like the Indianapolis 500. Despite his diverse ventures, Field consistently demonstrated a knack for identifying profitable opportunities across different industries.
LA Mansion
In September 2000, Ted paid $6.3 million for an 18,000-square-foot mansion in Los Angeles. In September 2005, he sold this home to NBA player Carlos Boozer for $8.6 million. Boozer rented the home to Prince, who made significant alterations, including replacing white Italian carpets with purple carpets and turning rooms into a nightclub, hair salon, and massage parlor. When the lease ended, Prince’s team restored the mansion to its original state.
