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Investment in Recreational Marijuana on the Rise

Drink companies and other investors have begun making moves to profit from the cannabis industry through a series of M&A deals. In Canada, the recent legislation of use of recreational cannabis use has given a boost to the adoption of the industry in North America, as well as the US midterms which saw Attorney General Jeff Sessions (opposed to legalization of cannabis) step down.

In the United States, medical marijuana is currently legal in 30 states. Only nine states and Washington have legalized recreational marijuana for users above the age of 21 years.

Canada and America are very important for the growth of the industry as both countries currently contribute 90% of the global revenues. To take advantage of the sector, American companies have enlisted a little-known strategy known as ‘reverse merger’ to grow their operations.

Source: Shutterstock

Canadian Funds

Reverse Mergers, also known as Reverse Takeovers (RTO), are a speedy way of becoming a publicly traded company and have been on the increase due to the frenzy around the sector. They are used by private firms who acquire a publicly traded company (or a shell company), thereby becoming publicly traded without going through an Initial Public Offering (IPO).

For American firms, Canada remains a popular destination for raising capital, for an industry that is still federally illegal in the US. These firms going through this route can skip the troubles they would have faced if they had sought the traditional IPO route.

These include registration and vetting process from the Canadian Securities Administrators (Canada’s version of the SEC) and investment bankers, who will drill into the finances and barge the company with a ton of questions.

2018 has witnessed over 200 M&A deals in the cannabis sector, according to data from cannabis-focused analytical firm Virdian Capital Advisors. California based cannabis dispensary provider MedMen, whose high-end dispensaries have been compared to Apple stores, went public in May after purchasing Ladera Ventures—a Vancouver based oil and gas shell company, through an RTO.

The company also acquired PharmaCann in a $682 million stock transaction, doubling its market share overnight. MedMen’s competitor iAnthus has also been busy making deals, picking up Canadian diversified cannabis firm MPX Bioceutical in a major $640 million deal.

Entrant of Breweries

For an industry whose market cap was a little over $5 billion market in 2015, with an estimated projection expected to hit a conservative $20 billion by 2020, the market for the emerging cannabis sector can only get better.

The industry could witness an explosion when beverage companies make their long-expected entrance and replace part of their alcoholic content with cannabis. Last year, Constellation Brands, the makers of Corona beer, got into the action with a minority stake in Canadian marijuana producer Canopy Growth Corp.

Winnipeg brewery Fort Garry Brewing Co also joined forces with medical cannabis provider Delta 9 Cannabis to launch the “Legal Lager,” a beer filled with hemp seed.

According to the company’s press release at the time, the Legal Lager, which was released as “an ongoing research and development project to jointly produce a cannabis beer” that contains Tetrahydrocannabinol (THC), doesn’t contain:

“cannabis or any other psychoactive agent produced from the cannabis plant.”

Featured image from Shutterstock.

November 12, 2018
The World’s Biggest IPOs – SoftBank to Raise $21 Billion

Japanese tech giant SoftBank Group Corp. is preparing the country’s largest initial public offering (IPO). Founder Masayoshi Son wants to raise $21.1 billion (2.4 trillion yen) by selling 1.6 billion shares of a new mobile division at 1,500 yen apiece. The company is ready for an overallotment with an additional 160 million shares, valued at $2.1 billion.

SoftBank Group Corp. announced the approval of listing on November 12:

“SBG [SoftBank Group Corp.] announces that it has decided on the disposal of a portion of SB [SoftBank Corp.] shares held by SoftBank Group Japan Corporation, a wholly owned subsidiary of SBG.”

The IPO price range will be announced at the end of November. However, investors will know the final price on December 10. The new entity is expected to start trading on December 19.

Building a Global Investment Company

The IPO will mark a new era for SoftBank, a company that aims to reposition itself in the market. Chief Executive Masayoshi Son is ready to transform its mobile phone network service into one of the world’s biggest players.

SoftBank has already invested in a significant number of small startups, as well as in giants like Uber Technologies, Didi Chuxing, and Alibaba Group.

Masayoshi Son has the reputation of being a tech visionary. The SoftBank founder and CEO is the creator of the $100 Billion Vision Fund, which has been buying large stakes in fast-growing tech companies. The entrepreneur also plans to raise similar funds every few years that invest around $50 billion a year in tech startups.

SoftBank hopes to lure investors with a dividend payout ratio of about 85 percent of net income.

A Challenging Year for SoftBank

SoftBank’s reposition comes at a time when the company has to rethink its strategy both in the Japanese and international markets.

Masayoshi Son’s connections with Saudi Arabia’s Crown Prince Mohammad bin Salman have generated contradictory feelings among investors. Bin Salman also invested almost $45 billion in the Vision Fund, which has lead to speculation about how many investors would pull back after the killing of journalist Jamal Khashoggi.

Besides its diplomatic problems, the Japanese tech giant is also handling challenges at home. The company needs to cut down mobile bills to comply with new government requests. The authorities expect mobile carriers to lower prices by 40%.

SoftBank has almost 34 million wireless subscribers in Japan. The company forecasts 700 billion yen ($6.1 billion) in annual operating profit across all its telecom operations.

Featured image from Shutterstock.

November 12, 2018
5 Steps to Make Money Writing Online

If you are working just meters away from where you sleep, you are either in prison or a freelance writer. The two can be entirely interchangeable. Just me? I am constantly asked how it’s possible to make money writing online. The main answer is by putting in the work and knowing which route to take.

I have been a freelance writer for over 10-years and have seen the industry evolve and move away from magazine and newspaper writing to a brave new world of online content creation.

Does it sound attractive to wake up in the comfort of your own home, or in some exotic location, make a coffee and start work? If so, here are some tips and 5 steps to make money writing online

Step #1 – Making a Start and Finding a Niche

It obviously helps if you have a firm grasp of language and have at least a rudimentary level of writing skills. What kind of writer do you want to be? What are you interested in? Is it just about making money or are you looking to become an expert in a certain area while making money at the same time? Finding a niche is important, especially to begin with.

Writing about what you are interested in could be a good starting point. I figured out early in my online writing career that writing marketing pieces for businesses is a good earner. To begin with, write about something you are familiar with and the rest will soon work itself out.

Step #2 – Getting Your Writing Out There

The vast majority of online writing jobs you will apply for request writing samples or links to previous articles posted online. A good way to initially get your name and writing out there is to create your own blog site. In this day and age, it is an easy process. You could also volunteer to write for free for some websites as well in the beginning.

Creating your own blog is a great strategy to post a variety of articles live on the internet with links you can send to potential clients, but it is also the ideal platform to practice, hone and streamline your writing skills. You can easily use your pre-existing Facebook account to promote the articles to get some views and feedback.

Step #3 – Building a Reputation on Freelance Sites

How can you go from a few blog articles to actually make money writing online? A good way to start is by joining several online freelance jobs sites. Some of the most popular ones are Upwork, Freelance.com, and Problogger.

These kinds of sites require you to bid with other writers for jobs posted by potential clients.

You will have to compete with other writers for the jobs, but if you are realistic with your starting prices and are willing to sacrifice and underbid other writers, you will find jobs. The more jobs you do on these sites, the more your reputation grows, which will result in better-paid jobs. You can then increase your rates accordingly.

Step #4 – Job Hunting to Make Money Online

Make yourself a quality resume, a quality cover letter, gather your links to articles you have already posted online and get started applying for jobs. The ‘Writing Jobs’ section on Craigslist is a good place to start.

I also use other online job platforms such as Indeed jobs. You can search for “content writers needed” on Google and refine the search to the past month or week to find the most recent opportunities.

If you are for example looking to write cryptocurrency news articles, then bombard the main crypto news sites with your CV and application. That goes for any writing sector you are interested in. It’s a numbers game. The more you apply for, the greater the chance you will find something.

Step #5 – Creating an Affiliate Marketing Website

Did you know that writers and marketers are making money by selling other people’s products without physically keeping any stock?

Websites such as Amazon and eBay offer affiliate marketing programs where you can create websites and write reviews about products and make a commission on the sales. Some writers own several sites selling all manner of products. It’s something that you need to look into.

To make money writing online, you will first need to find a niche and voice, get your work out there, apply for loads of jobs and work hard. There is no magic formula to success other than hard work, persistence, and self-belief.

Featured image from Pixabay.

November 12, 2018
Snitching to US Government is a $100 Million Industry

Do you know the term ‘snitches get stitches’? It seems that if you snitch to the US government, you don’t need surgery to repair your face. You actually get paid a bundle. It has been reported that the US government has paid out over $100 million to snitches since the mid-1980s.

Are you a snitch, a grass, rat, turncoat, telltale, betrayer, blabbermouth, informant, nark, a stool pigeon, a double-crosser or even a modern-day Judas? If so, maybe you can monetize your snide ways by making a deal with the US government to rat out your friends who just happen to be drug kingpins. It works even better if they are Mexican or some other ‘foreigner’.

US Government Paid Bounties to Apprehend Drug-Lords

In an interesting article in the South China Post, the newspaper discusses the US government’s reward programs for snitches, which is believed to have offered massive bounties for information that lead to the arrest of drug kingpins and the like.

The article went onto say that the US government had paid informants $108 million since the 1980s. The wide scope of the US government and DEA is truly astounding. The multi-billion-dollar war on plants, I mean drugs, is well and truly alive and kicking.

The Narcotics Reward Program (NRP), as it is succinctly named, has paid out $32 million to 33 people in past five years alone. It is believed that some snitches received single payments for as much as $5 million. They say that loose lips sink ships, but it seems they can also buy them.

The information comes directly from the Bureau of International Narcotics and Law Enforcement Affairs.

The Wide Scope of the DEA and US Government

The ‘program’ is said to have netted the arrest of nearly 70 foreign major violators since 1985. The program was put back in the spotlight last month when the US government announced that the ‘snitch’ bounty on the infamous cartel leader Nemesio Oseguera Cervantes had now risen to $10 million.

The wide scope that the US government has, even outside its own borders with the DEA, is pretty remarkable when you think about it.

In the autobiography of international cannabis smuggler Howard Marks, entitled ‘Mr. Nice’, he once told of a bizarre case involving his RICO predicate. As part of the case to arrest Marks in the 1980s, a non-American was caught on non-American soil, selling a non-American passport to another non-American person and was actually indicted to the US to face charges as part of Marks’ RICO case. This is how the US government, and more precisely the DEA gets down.

If you have any information on your drug lord family and friends, make sure you contact the US government for your prize. You’ll be the envy of communist Soviet Union supporters from the 1980s.

Featured image from Pixabay.

November 12, 2018
Sir Richard Branson Launches Global Cooling Competition

We all know that British billionaire and serial entrepreneur Sir Richard Branson likes to back innovation. Just last month, the winners of the Extreme Tech Challenge (XTC) held by Sir Richard Branson on his own private island in the Caribbean were announced. Now he’s upping the stakes and backing the Global Cooling competition jointly with the Indian government to find a breakthrough in air-conditioning technology.

Cooling Systems Demand Is Rising

As the planet population swells and the median income rises, there’s a higher demand for air cooling systems than ever before. And that’s a problem for the climate. That means more pollution, greater energy spend, and a higher use of refrigerants such as hydrofluorocarbons which are harmful to the environment.

Contestants of the Global Cooling competition will be expected to come up with a more economic and less harmful way of providing indoor cooling systems to meet the growing demand.

There are approximately 1.2 billion air conditioning systems installed around the world today. As living standards improve across developing continents, that number is expected to rise to 4.5 billion by 2050.

Air conditioning systems in India

If we carry on using the same technologies for a/c systems we could raise the global temperature by 0.5% according to the Rocky Mountain Institute. Air conditioning has been flagged up by the International Energy Agency for being one of the largest yet most overlooked threats on climate change moving forward.

Inspiring a Solution through the Global Cooling Competition

The competition for innovative cooling systems initiated by Sir. Branson and the Indian government will hand out $3 million in prizes. $2 million will be shared among the top 10 participants with the most innovative and practical ideas, with at least $1 million reserved for the winner. Although, participants stand to win much more than that if their system becomes licensed and commercially successful.

The problem is not an easy one to solve, however, and the infamous entrepreneur recognized that it may not bring about a solution. However, the competition should at least start to encourage people to look for a solution and raise awareness about the issue. He said:

“If we don’t do something about the growing global impact of air conditioning on our climate today, it will derail our best attempts to meet the Paris Agreement goal on emissions.”

Since some 3.5 billion of the new air conditioning units are expected to be installed in India, the government felt its responsibility to take part. While competitions like this have had some success in the past, others are still trying to overcome a problem.

In 2011, Bill Gates launched his Reinvent the Toilet challenge and is still trying to scale up a suitable solution today. Let’s hope Branson has more luck with this one.

Featured image by Shutterstock.

November 12, 2018
NBA Players Splurge on Some Pretty Amazing Stuff

The average NBA salary is more than $7 million USD per year. All that money allows NBA players to indulge their tastes to a degree that’s impossible for most people. Some of their purchases can be a little odd, and others seem downright idiotic in retrospect.

There also seems to be a propensity towards overspending which comes with a big salary. Many professional athletes end up taking a beating on purchases that seem like a good idea at first, but end up costing them a pile when they go wrong!

Gilbert Arenas’ Shark Tank

Gilbert Arenas had quite a go in the NBA. In 2008 he signed a $111-million-dollar, six-year contract with the Washington Wizards, though his tenure there would be cut short.

He was convicted of keeping an unloaded firearm in the locker room and had to do a bit of probation as a result. The pistol was also apparently unregistered. Some of his fellow teammates were carrying guns illegally and had to pay the price alongside Gilbert Arenas.

After he transferred to the Orlando Magic, he decided to install a shark tank in his home that cost more than a half-million dollars up-front, and around six and a half thousand dollars a month to maintain.

Source: Business Insider

Gilbert Arenas didn’t last long in Florida either and had to sell the house and the shark tank when he left to play in Memphis in 2012.

Scottie Pippen’s Jet

Scottie Pippen is a legend. If he hadn’t been playing next to Jordan, he may have been an even bigger star.

Michael Jordan’s massive shadow aside, Scottie Pippen was one of the most powerful NBA players of the 1990s. He was also a member of the fabled 1992 Olympic “Dream Team,” which destroyed any other country by an average of 44 points.

In the world of aeronautics, Scottie Pippen was somewhat less successful.

According to reports, the NBA mega-star tried to save money by buying a fixer-upper private jet. Buying something that doesn’t work with the hope it can be fixed is always a little risky.

In this case, Scottie Pippen pumped at least $5 million USD into a plane that never took off again, and probably couldn’t be sold for much afterward.

The SuperFetish

It’s easy to understand why NBA players could feel like superheroes. Their athletic ability is amazing, and they often have larger-than-life personalities.

Some NBA players take it to the next level. Shaquille O’Neal is well known for his love of Superman. He has spent unknown amounts of money on Superman-themed items, including $15,000 USD on a Superman bed to sleep in, and more than $40,000 USD to have a Superman grill put on one of his many SUVs.

Danny Granger is more of a Batman fan. He is apparently working on a Batcave.

The details on the Batcave are sparse, but he told the media that:

“Actually the builder called me and told me he found a nice little feature, a lift for my car, kind of like Batman had. It’s in the works, it’s a process. (My interest in superheroes) is just a big thing I’ve been a part of. I love Superman, love Batman. It’s just the way I’ve been always.”

Eddy Curry’s Dream Life

Living big comes with a heavy price tag.

Eddy Curry has been notorious for spending money on life’s luxuries, including $1,000 USD a month for cable television. He also retained a private chef for around $6,000 USD a month, which is a pretty sweet deal for the chef!

Like all things in life, Eddy Curry’s ability to demand a multi-million dollar salary didn’t last forever. His Chicago home is in foreclosure according to Wikipedia, and his last professional engagement was with the Zhejiang Chouzhou Bank Golden Bulls, back in 2013.

Making $7 million USD a year sounds pretty sweet. If you can’t figure out how to save any of it, the whole thing seems to end in tears. NBA players have an incredible opportunity to get ahead, but few seem to have the skills to make the money last.

Featured image from Shutterstock.

November 12, 2018
British Billionaire Tej Kohli Floats €50M Fund to Grow Esports in the UK

To boost adoption in the European esports market, a London-based billionaire has floated an investment arm to grow the industry. British billionaire Tej Kohli has allocated €50 million (56 million) to invest in the Esports market in the United Kingdom.

60-year old Tej Kohli, who runs Kohli Ventures, said his latest move into the esports market was inspired by his son, who spends his time watching the North American leagues and playing Fortnite and League of Legends.

Based on a news report, the new fund will be called Rewired GG, a subsidiary of Rewired, a venture backed by Kohli with investments in robotics and AI. The billionaire, who made his mark in the real estate and online software development industry, plans to use the funding to develop individual gamers and games in the esports business. In addition, he’s looking at developing his esports team with the investment.

While Esports has been hugely successful in America and Asia, the market is still largely nascent in Europe. Describing it as a “disruptive innovation” in the world of sports, Kholi went further to enthuse about the sport and how happy he was to drive its growth in Europe.

When asked about the impact Esports could have in the UK, Kohli stated:

“I have seen first-hand through my son the passion many young people have for the sport and the growing professionalism of the teams, players and commercial partnerships. I believe that with the right mentoring and investment, Europe will soon play host to the best players, teams and commercial opportunities in global esports.”

Tej Kohli Will Grow Esports in the UK

In the UK, investors have been dragging their heels where investments in Esports are concerned. Kohli believes the growing celebrity endorsements and the ever increasing number of young consumers will alert UK investors of the opportunity right under their nose.

Sam Cooke, Co-founder at Esports Insider, an industry news outlet that currently advises Rewired GG, hailed the investment from Kohli, noting that he was happy investments in the industry had started to:

“catch up with those already seen in America and across Asia… There is so much European potential in this developing sector, from individual players to whole teams, and the establishment of an investment arm like Rewired GG goes to show that there is now real confidence in this potential.”

Featured image from Flickr.

November 12, 2018
SAP Spends a Massive $8 Billion on Qualtrics Before It Goes Public

Even if you don’t use it, you’ve probably heard of SAP, the enterprise software company that allows businesses to track customer interactions. Now the German-based SAP becomes the next large name in legacy enterprise software to acquire a more agile business to help adjust their market offering.

SAP (Systems, Applications and Products) is best-known for its Enterprise Resource Planning (ERP) and data management programs and is Germany’s largest company in terms of market value. As it migrates its traditional on-premises services to the cloud, the acquisition of Qualtrics should help them achieve their goal of being the number one-stop solution for businesses.

US Company Qualtrics Was About to Go Public

SAP snatched up the US-based company Qualtrics just as it was about to go public for a seemingly inflated total of $8 billion, a decision that has been approved by both company shareholders and boards of directors.

SAP Chief Executive Bill McDermott said that the acquisition would allow the company to combine its operational data with Qualtrics’ customer experience data to allow customers to get insights and feedback in real time.

SAP is just the latest in a growing group of legacy software providers buying up younger companies in the hopes of adapting their product to a changing market. Just two weeks ago, IBM bought Red Hat for an eye-watering $34 billion, the biggest acquisition in the tech industry this year. And Microsoft also snatched up GitHub for $7.5 billion.

What Does SAP Want with Qualtrics Anyway?

Qualtrics sells experience management (otherwise known as customer research and surveys) to large companies such as Coca-Cola, Walt Disney, and BMW. One of its main competitors is SurveyMonkey which went public in September for a lower-than-expected valuation of $1.25 billion.

In fact, Qualtrics was valued at just $2.5 billion in its last private funding round in April 2017. The all-cash offer from SAP is also well above the $4.5 billion that Qualtrics was expected to reach for its upcoming IPO. So, why is SAP paying such an exorbitant amount for a company with half its value?

It could be that the company is looking to mask slower organic growth or their own cloud model that’s failing to scale. Either way, analyst at Mirabaud, Neil Campling told the FT:

“It’s an extremely high multiple whichever way you look at it.”

Featured image from Shutterstock.

November 12, 2018
Did You Check Your EuroMillions Lottery Ticket? You Could Own $100m

Have you checked your EuroMillions lottery ticket from November 2? If not, you could be the owner of approximately $100 million. The EuroMillions lottery jackpot has gone unclaimed, so go and check your laundry basket fast, because you could be sitting on a fortune.

It’s been over a week since the EuroMillions $100m draw was made and the search is on to find its winners.

It Could Be You

The unclaimed EuroMillions ticket was bought from a National Lottery retailer in the United Kingdom. Players of the popular lottery game are being urged to rustle through their laundry and to check under their beds to find the estranged ticket.

The lucky winner, or should we say unlucky at this moment in time, matched all five numbers and the two Lucky Stars numbers in the draw that took place on November 2. The winning numbers were 5, 15, 17, 37, 44 and the Lucky Star numbers were 7 and 11.

Although it’s a big figure, it pales in comparison to the recent MegaMillions $1.5 billion-prize that was scooped by one ticket in America earlier this month. America is known for being bigger and bolder than everyone else, and this is definitely true when it comes to fast-food consumption and lottery jackpot prizes.

EuroMillions Jackpot Is 4th Largest this Year

The company that runs the EuroMillions lottery, Camelot, are currently waiting to hear from the holders of the winning ticket, which is the 12th largest lottery prize pot in UK history and the 4th largest this year in Europe.

The largest ever EuroMillions jackpot prize was in April his year and was a massive $190 million. The jackpot was won by two tickets and both winners remained anonymous.

It’s been a big month for lottery winners across the world. Not only did one ticket scoop the Mega Millions prize, but also 2 people shared the $687 million Powerball jackpot in the US in late-October.

If you played the EuroMillions lottery on November 2 and haven’t checked your ticket yet, what are you doing sat here watching me rant on? You could be a millionaire!

Featured image from Pixabay.

November 12, 2018
Meet the Top 10 Richest Hollywood Film Producers

The Hollywood film industry is one of the world’s oldest and most successful motion picture industries. From classics like The Godfather to cultural phenomenon such as Star Wars, Hollywood has created thousands of masterpieces.

These movies, however, owe their success to the team that works arduously hard behind the scenes. Most importantly, Hollywood film producers are the ones who put their careers at stake when they select an idea and spend months on turning it into a movie suitable for a diverse audience.

Fortunately, they are also the ones who reap the benefits of blockbuster hits. While an average film producer earns $750,000 per movie, a top film producer’s upfront payment easily crosses $1 million.

The Top 10 Richest Hollywood Film Producers

1. George Lucas

At the age of 74 and with a net worth of $5.6 billion, George Lucas is the creator of the Star Wars franchise. The first movie from the original trilogy was released in 1977 under his production company Lucasfilm. Lucas was given licensing and merchandise rights since Fox believed the movie would be a disaster at the box office.

However, the franchise became an instant success and earned him an Academy Award nomination. He returned as the producer for the next two sequels and earned a great deal of money after 40 million Star Wars action figures were sold for over $100 million in 1978.

Lucas also created the prequel series from 1999 to 2005, where Episode I grossed over $1 billion worldwide. He proved himself once more by creating another masterpiece: Indiana Jones. The first movie in the series was released in 1981 and it earned more than $389 million worldwide.

Even though Lucas sold Lucasfilm to Disney in 2012 for $4.1 billion, he remains Hollywood’s richest film producer to date.

2. Steven Spielberg

Aged 71, Steven Spielberg follows his friend George Lucas closely behind with a net worth of $3.7 billion. His name is attached to blockbuster movies such as Jaws, Indiana Jones series, E.T. the Extra-Terrestrial, Jurassic Park series and Saving Private Ryan.

Spielberg also co-founded Amblin Entertainment and DreamWorks Studios (DWA) and became the executive producer of the Men In Black series and the Transformers series.

He has been nominated for seven Academy Awards and has won three of them for Schindler’s List and Saving Private Ryan. His latest movie Ready Player One earned $582 million worldwide.

Spielberg works as a consultant for Universal theme parks and earns millions of dollar per year in return.

3. Arnon Milchan

Arnon Milchan has a net worth of $3.6 billion and has produced over 132 movies under his production company New Regency Enterprises. Prior to joining the film industry, he transformed his bankrupt family business to a successful chemical company.

Milchan’s filmography includes movies from different genres. He has produced romantic comedies such as Pretty Woman, Mr. and Mrs. Smith, What Happens in Vegas and Bride Wars, as well as blockbusters and critically acclaimed hits such as Fight Club, Gone Girl, Bohemian Rhapsody, The Revenant and 12 Years A Slave. Overall, his movies have grossed $11 billion at the box office worldwide.

Milchan is listed number 652 on Forbes list of The World’s Billionaires 2018.

4. Thomas Tull

At the age of just 48, Thomas Tull has a net worth of $1.2 billion. Tull became a billionaire by following his heart and investing in movies based on comic books. He founded the production company Legendary Entertainment by raising $500 million and partnering with Warner Bros. in 2005.

Tull is listed as the executive producer of Superman Returns, 300, The Dark Knight, Hangover Series, Inception, Man of Steel, Interstellar and Jurassic World. In 2016, Legendary Entertainment was bought by Wanda Group for $3.8 million. Even though Tull left his position as CEO of the company in the next year, his net worth remains above $1 billion.

Tull is currently leading an investment holding firm Tulco, which uses Artificial Intelligence techniques to select different companies.

5. Steve Tisch

69-year-old Steve Tisch has a net worth of $1.1 billion.

Tisch has won a Golden Globe and an Academy Award due to his compelling projects. His earlier works such as Risky Business and Outlaws Blues weren’t box office hits, but they were widely appreciated by critics. However, movies like Forrest Grump earned him various prestigious awards.

Tisch founded his production company Steve Tisch Company in 1986. It was merged with Black & Blu to form Escape Artists in 2001. Some of the movies listed under the company include The Pursuit of Happiness and Knowing.

Tisch became New York Giants’ chairman and Executive Vice President in 2005. He also inherited a large sum of money from his mother’s shares in his father’s company Loews Corp.

6. Jeffrey Katzenberg

At 67, Jeffrey Katzenberg has a net worth of approximately $1 billion.

Katzenberg has been a part of some of the most famous animated movies of all time. He was the chairman of Walt Disney Studios from 1984 to 1994. He later co-founded DreamWorks Animation (DWA), along with Steven Spielberg, and served as the CEO from 2004 to 2016.

Katzenberg is the executive producer of Academy Award nominees Shrek and Shark Tale. However, his net worth increased when he received $400 million after Comcast Corp. acquired DWA for $3.8 billion in 2016.

Katzenberg founded consumer tech holding company WndrCo in 2017.

7. Jerry Bruckheimer

At 75, Jerry Bruckheimer has a net worth of $900 million.

Bruckheimer has produced hits in both film and TV industry. His movies and shows have earned 41 Academy Award and 77 Emmy Award nominations and won six Oscars, four Golden Globes and 17 Emmys. Hence, he is famously known as ‘Mr. Blockbuster’ in Hollywood.

Bruckheimer produced the Pirates of the Caribbean series — the first movie earned $654 million worldwide. Some of his other movies include Top Gun, Con Air, and the National Treasure series. He has also worked as an executive producer for The Amazing Race, Modern Men, CSI: Crime Scene Investigation and CSI: Miami.

Bruckheimer was honored with a star on the Hollywood Walk of Fame in 2013.

8. James Cameron

James Cameron of Titanic fame has a net worth of $700 million at 64 years old.

Cameron is the reason why every movie is being released in 3D nowadays. Up until Avatar was released in 3D, he was known for producing blockbuster hits such as The Terminator series, Aliens and Titanic.

Titanic grossed over $2.1 billion worldwide and became the highest-grossing movie of all time. However, it was de-throned by Avatar in 2010, which went on to earn more than $2.7 billion. Cameron is currently working on four Avatar sequels which are expected to release in 2020, 2021, 2024 and 2025.

Cameron co-developed Fusion Camera System to shoot 3D movies, which has been used in 23 movies. He was also named one of the 100 most influential people of 2010 by the Time Magazine.

9. Peter Jackson

Peter Jackson is just 57 yet has already amassed a net worth of $450 Million.

From New Zealand, Jackson has produced the fifth-highest grossing film series of all time: The Lord of the Rings trilogy. Following the success of these movies, Jackson became a part of King Kong and The Hobbit trilogy.

Jackson received his Hollywood Walk of Fame star in 2014. He owns an aircraft restoration company titled The Vintage Aviator and is known for his World War I aircrafts collection.

Jackson planned to launch a movie museum in a convention center located in New Zealand to display movie props, collections, and other antiques. However, the plan was abandoned when he couldn’t get into an agreement with the city.

10. Micheal Bay

Michael Bay is just 53 and is worth some $430 Million.

Bay is the artist behind the box office success of the Transformers series. He worked as an intern in his early teens at the sets of the first Indiana Jones movie. He broke into the film industry when Jerry Bruckheimer hired him to direct Bad Boys in 1995.

Bay went on to co-produce Armageddon, which was nominated for four Academy Awards. His most successful project, Transformers, became the 13-highest grossing film series but failed to win over movie critics.

Bay co-founded production company Platinum Dunes in 2001, which has released horror movies such as A Quiet Place, The Purge series and The Texas Chainsaw Massacre.

Featured image from Shutterstock.

November 11, 2018