Burt Sugarman's net worth and his iconic Midnight Special success
Burt Sugarman's net worth, estimated at $100 million, is largely attributed to his illustrious career in television, his profitable business ventures and lucrative real estate investments. During an October 2014 interview on Icon Vs. Icon, he shared the reason behind his diversified income streams, saying:
I have always been curious, and that curiosity has led me into different high-rewarding ventures. My eyes are always open.
Source: Getty Images
TABLE OF CONTENTS
- Key takeaways
- Burt Sugarman's profile summary
- A look at Burt Sugarman's net worth: How rich is he?
- Burt launched his career as a car dealer: From winning races to selling Maseratis
- Sugarman funded the pilot production of The Midnight Special
- Exploring Burt's business ventures: From TV to cement to hamburger chains
- Mary's successful media career contributed significantly to her joint net worth with Burt
- Insight into Burt and Mary's real estate portfolio
- Wrapping up
Key takeaways
- Burt produced the 1970s game shows The Wizard of Odds and Celebrity Sweepstakes, Whew!
- He acquired a 28% stake in the nearly bankrupt Giant Portland & Masonry Cement company for $3 million and later sold it in a public offering for approximately $131.6 million in 1982.
- In 1989, Sugarman made a significant profit when he sold his controlling interest in Barris Industries to Australian investors for $34.5 million.
- Burt and his wife, Mary Hart, own at least $50 million in real estate across the US, mainly in Montana and Los Angeles.
Burt Sugarman's profile summary
Full name | Burton Roy Sugarman |
Date of birth | 4 January 1939 |
Age | 87 years old (2026) |
Birthplace | Los Angeles, California, USA |
Nationality | American |
Marital status | Married |
Spouse | Mary Hart |
Children | 2 |
Profession | Film and television producer, businessman |
A look at Burt Sugarman's net worth: How rich is he?
According to Celebrity Net Worth, Burt and his wife have a combined net worth of $100 million. Mary Hart is best known for co-hosting Entertainment Tonight for over two decades.
On the other hand, Burt is widely recognised for creating and producing the 1970s/early '80s variety series The Midnight Special. Speaking on Icon Vs. Icon, he emphasised the importance of following one's passion, stating:
Follow your dreams. If you love your job, at least you are going to get up in the morning motivated and with a smile on your face.
Source: Original
Burt launched his career as a car dealer: From winning races to selling Maseratis
While in high school, Burt participated in drag-racing tournaments and rode dirt bikes. After graduating from the university, he began selling cars.
At 24, he saw a photo of the Ghia Italian car in a magazine and flew to Turin to buy it for himself. A distributorship for Ghia, Maserati, Excalibur and other luxurious cars in North America followed. Burt told the Los Angeles Times in 1973, per Celebrity Net Worth:
At 28, I sold the car shop and retired to play golf. However, after five months of playing, I grew bored and decided to venture into show business.
Sugarman funded the pilot production of The Midnight Special
When Burt approached NBC in 1972 to secure a time slot for his show, The Midnight Special, the executives rejected the idea three times. During a 2024 interview on the LateNighter podcast, he shared that the network was sceptical about viewership. Sugarman said:
The executives turned me down because they were not convinced that musicians would agree to perform live or anybody would watch the show at 1 a.m.
Source: Getty Images
To convince the network, Burt offered to fund the pilot project, with Chevrolet as the show's first sponsor. This allowed him to retain ownership of the show for decades. Below are some of his other producer credits:
- The Manipulator (1971)
- The Richard Pryor Show (1977)
- Kiss Me Goodbye (1982)
- Extremities (1986)
- The Newlywed Game (1988)
Sugarman once stated that he aimed to be the "Walmart of TV" by providing high-quality output at lower production costs to maximise profit margins.
Exploring Burt's business ventures: From TV to cement to hamburger chains
In 1979, Burt acquired a majority stake in the Old Tucson Corporation, which owned the Old Vegas and Old Tucson amusement parks. He sold his interest in the venture about three years later.
By the mid-1980s, Sugarman claimed he only spent 2% to 3% of his time on entertainment, with the rest dedicated to managing the Giant Portland and Masonry Cement Company. and running fast food chains. In addition, he owned shares in The Giant Group, which held investments in media firms such as Media General.
Source: Getty Images
Mary's successful media career contributed significantly to her joint net worth with Burt
Burt's wife, Mary, made her career debut in 1972, anchoring a talk show on KSFY-TV in Sioux Falls. About seven years later, she relocated to Los Angeles with only $10,000, determined to leave journalism behind.
However, in 1982, Hart became the co-host of Entertainment Tonight. She achieved great success as the show's host until her departure in 2011. An actress, Mary has starred in Days of Our Lives and Baby Daddy.
Insight into Burt and Mary's real estate portfolio
In 2013, Sugarman and Hart paid $3.8 million for a condo in Los Angeles. They sold the property for $6.7 million in 2018. The same year, the couple sold an 11,000-square-foot Beverly Hills unit for $27 million. In 2014, they sold a lakefront house in Montana for $5.9 million and listed another unit for $7.9 million, per The Wall Street Journal.
No closing price has been reported. Mary and Burt sold a unit in West Hollywood's Sierra Towers for $8 million in 2015, another one for $4.65 million in 2016, and listed a third one for $5.5 million in 2018.
Source: Getty Images
In 2013, they listed their 160-acre ranch inside the Yellowstone Club for $26.5 million, later reduced the price to $21 million and then $19.5 million by 2015, per Architectural Digest. The duo sold a 4,000-square-foot property in Los Angeles for $6.3 million in 2019.
Wrapping up
Burt Sugarman's net worth is a combined value with that of his wife, Mary Hart. The couple has accumulated this wealth from their prolific careers in the entertainment industry and their lucrative real estate deals. Additionally, Sugarman has engaged in various business ventures that have contributed significantly to their multi-millionaire status.
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Proofreading by Kelly Lippke, copy editor at Briefly.co.za.
Source: Briefly News
