British composer Andrew Lloyd Webber is a Broadway icon. The musical genius behind Cats, Evita, Jesus Christ Superstar, and The Phantom of the Opera, Webber will be the subject of an hour-long tribute to celebrate his 70th birthday. Several of his musicals have run for more than a decade in both the West End and on Broadway.
As he’s celebrated tonight by stars like Lin-Manuel Miranda, Glenn Close, and John Legend, people may grow curious about his net worth. How much money does Webber have? Read on to find out.
1. He Has an Estimated Net Worth of $1.2 Billion
Andrew Lloyd Webber was born in Kensington, England, to a father who was a director at the London College of Music, and a mother who was a piano teacher.
According to Celebrity Net Worth, he has an estimated net worth of $1.2 billion– a number that is constantly rising. According to a 2013 article in The Telegraph, his profits from West End shows doubled then. The outlet quotes him and fellow directors as saying that his theater company enjoyed, “higher sales in the theatres, driven by higher demand for the productions during 2012.”
Webber’s other source of income has come from the theater buildings themselves. In 1983, he purchased The Palace Theater on Shaftesbury Avenue in London. Webber sold the building eventually, for an undoubtedly hefty (but undisclosed) sum. The Telegraph reports him as saying he wanted a “secure financial future” for the venue, according to The Telegraph.
2. He Does Not Believe in “Inherited Money”
In a 2008 interview with Mirror, Lloyd told the outlet that his children won’t necessarily be receiving a large inheritance. “They aren’t bothered,” he added. “I am not in favor of children suddenly finding a lot of money coming their way because then they have no incentive to work… So I will give them a start in life but they ain’t going to end up owning the Really Useful Group.”
Webber added on that he believes his money should, instead, be used in a way to “encourage the arts.”
Asked if he’s just going to give it all away, Webber said at the time, “Basically… it is extremely likely that my wife Madeleine will outlive me so I will leave the problem with her. But both of us feel that we would prefer the company to continue to do things. It is so unusual that it’s a family company and I think the question is who runs it. I think it is unlikely that I want to see it caught up with family.”
Webber has two children from his marriage to Sarah Hugill (Imogen and Nicholas) and three with his wife Madeleine (Alastair, William, and Isabella).
3. He Owns ‘the Really Useful Group’
Webber started the Really Useful Group in 1977. The company revolves around music publishing in TV, film, video, concert, merchandising, magazine publishing, records, and music.
When the company was created, all of Webber’s work became owned by the Really Useful Group.
The Really Useful Theater Company also produces and manages plays. It’s productions list includes shows like Joseph and the Amazing Technicolor Dreamcoat, Jesus Christ Superstar, Cats, and Aspects of Love, among others.
Really Useful Theaters, an additional division, also owns six West End theaters, including the Adelphi Theater, Cambridge Theater, Theater Royal, Drury Lane, Her Majesty’s Theater, London Palladium, and New London Theater.
4. He Says There Is No Formula to Being Creative
Earlier this month, Webber released his autobiography, Unmasked. Asked in an interview with Town & Country Magazine how he prepares to be creative, and what his ritual is, he says, “There’s no formula. I can’t get up and say, ‘I’m going to write today.’ I don’t.”
When he was asked what he has learned from failure, the composer said, “The producer George Abbott told me, when he was 101 years old, that you must have a meeting the morning after you open a show to talk about your next one. I don’t always follow that rule, but I think there’s something to it.”
Click here to learn more about Webber’s book.
5. He Is Involved with Many Charities
Webber is involved in many charities, including the Elton John AIDS Foundation, Nordoff Robbins, Prostate Cancer UK and War Child.
In 1992, he also founded the Andrew Lloyd Webber Foundation, whose principal objects are to “promote the arts, culture and heritage for the public benefit.”
The company’s website reads, “Since 2010, the Andrew Lloyd Webber Foundation has awarded over £17.5M to projects that focus on the enhancement of arts education and participation, improving access and increasing diversity across the arts, culture and heritage sector.”
The company also provides scholarships as part of the audition/selection process and also based on merit and financial need. The scholarship covers course fees.