Seinfeld is widely recognized as an iconic television series and has brought considerable rewards to both its creators and cast. Despite the show concluding its run many years ago, its ongoing influence on the financial well-being of its cast remains evident. Michael Richards, renowned for his portrayal of the eccentric character Cosmos Kramer, also achieved remarkable wealth and fame.
And the 74-year-old actor continues to benefit from substantial monthly royalties stemming from the show even long after its conclusion. Reports suggest that he still receives significant earnings from the sitcom to maintain his status as a millionaire.
Michael Richards Reportedly Makes Millions From Seinfeld Royalties
Michael Richards portrayed one of the lead characters alongside Jerry Seinfeld, Julia Louis-Dreyfus, and Jason Alexander in the hit sitcom. The role marked a pivotal breakthrough for the actor, earning him not only two Emmy nominations but also reportedly $45 million from the show’s success.
When he initially joined the show, he was reportedly paid $150,000 per episode. And his salary eventually soared to $600,000 per episode by the time the show ended. Unlike the creators of the series, Richards, and his co-stars, did not have backend points, causing them to miss out on potential syndication profits.
However, they still receive royalties whenever the sitcom is broadcast on cable or streaming platforms. In line with the SAG-AFTRA residual pay scales, Richards reportedly earns a significant sum from the show. Additionally, he receives a portion of DVD sales revenue as well.
Although the actor has not been active lately, reports suggest that Richards continues to receive substantial monthly residuals, estimated at $300,000, a significant contributor to his $30 million net worth, according to Celebrity Net Worth.
Michael Richards is Planning to Release a Memoir Soon
The Emmy-nominated actor is gearing up for a return to the spotlight with his memoir. According to reports from People, the memoir, titled Entrances and Exits, is set to reveal never-before-heard stories from Richards’ life, including his upbringing by his schizophrenic grandmother.
“I am thrilled to present to the world Entrances and Exits, the long-awaited memoir by Michael Richards,” Anthony Ziccardi, Publisher of Permuted Pres said in a statement. The book will delve into his passion for acting from a young age.
The memoir will also reflect on Richards’ time in the United States Army after he was drafted in 1970, a period he has openly acknowledged as challenging. The book is also expected to share insight into his character as Cosmo Kramar and the behind-the-scenes aspects of the hit show.
Additionally, it will also address more controversial aspects of Richards’ life, including his infamous 2006 outburst during a stand-up performance in Los Angeles, where he was captured uttering racial slurs at audience members.
Seinfeld is available for streaming on Netflix.
Entrances and Exits will be published in June 2024.
