Michael Richards poses for a portrait | Getty Images | Aaron Rapoport

Name	Michael Anthony Richards
Net Worth	$30 Million
Salary	$600,000 per episode
Sources of Income	Acting, Production and Investments
Gender	Male
Date of Birth	July 24, 1949
Age	74 years
Nationality	United States of America
Profession	Comedian, Actor, Television producer, Screenwriter, Voice Actor, Writer

Michael Richards on set | Getty Images | David Hume Kennerly

Michael Richards is an American actor and comedian celebrated for his legendary role as Cosmo Kramer on the popular sitcom "Seinfeld". Richards boasts a net worth of $30 million CelebrityNetWorth. Richards' journey also includes ventures into real estate investments, contributing to his financial success.

What are Michael Richards' sources of income?

Michael Richards' acting career gained momentum in the 1980s with small TV roles, but his big break came in 1980 when he joined ABC's "Fridays" and collaborated with writer Larry David, a partnership that would shape his career. However, his most significant source of income stemmed from his iconic portrayal of Cosmo Kramer on the NBC series "Seinfeld."

Salary and earnings

In the early seasons of "Seinfeld," supporting cast members Julia Louis-Dreyfus, Michael Richards, and Jason Alexander earned relatively modest salaries. However, before the fifth season in 1993, they successfully negotiated raises, each earning $150,000 per episode, totaling approximately $3.8 million per season. In May 1997, they sought a substantial raise, aiming for $1 million per episode. The network countered with offers of $200,000 and then $400,000, ultimately settling at $600,000 per episode for the show's final season, which translated to roughly $15 million each. In total, excluding inflation, the supporting cast earned around $45 million in base salary from "Seinfeld."

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Jason Alexander, Michael Richards and host Jerry Seinfeld attend the Inaugural Los Angeles Fatherhood Lunch | Getty Images | Michael Buckner — Jason Alexander, Michael Richards, and host Jerry Seinfeld attend the Inaugural Los Angeles Fatherhood Lunch | Getty Images | Michael Buckner

Contrary to popular belief, Julia Louis-Dreyfus, Michael Richards, and Jason Alexander do not earn significant sums from the show's syndication deals, which have reached nearly $4 billion. To profit from syndication sales, one typically needs equity ownership in the show, which the supporting cast did not have. While they do receive royalties when the show airs, these payments amount to hundreds of thousands per year, not millions. In contrast, Larry David and Jerry Seinfeld earned $250 million each in 1998 from syndication sales, with substantial earnings continuing in subsequent years. Although the supporting cast missed out on backend points in 1997, they did negotiate profit-sharing points for DVD sales, resulting in a moderate windfall when DVDs were popular.

Michael Richards' assets

His real estate investments, along with his substantial earnings from "Seinfeld," undoubtedly add to his overall wealth. His Pacific Palisades home alone is estimated to be worth between $8 million and $10 million. He purchased and sold properties, notably a home in Studio City, California, and a stunning Pacific Palisades home designed by architect Paul Williams. These investments have contributed to his net worth.

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Personal life

Michael Richards married former casting director Cathleen Lyons, with whom he had a daughter named Sophia. They divorced in 1992. In 2007, he got engaged to actress Beth Skipp, whom he had been dating since 2002. They married in 2010 and have one son together. Richards currently resides in Glendale, California.

Michael Richards' awards

During his career, Michael Richards received several accolades, most notably for his role on "Seinfeld." He won the Emmy Award for Outstanding Supporting Actor in a Comedy Series in 1993, 1994, and 1997 for his portrayal of Cosmo Kramer. These awards acknowledge his significant contribution to the success of the show.