Forbes last night unveiled their Forbes 400, highlighting the 400 richest people in America - and several radio-related moguls are on the list.
For all the whining that the NAB does about Howard Stern's $500 million contract, you'd think these folks were paupers. But that's not at all the case, far from it, especially since you need to have a net worth of at least $1.3 billion to even get on the Forbes 400 list.
So follow the link below, and check out the Top 10 Richest People in Radio... and the disgusting amount of their net worth.
Anne Cox Chambers
Net Worth: $12.6 Billion
She's old and filthy rich. Daughter of James M. Cox - the newspaper reporter turn 3-term governor of Ohio, presidential nominee in 1920 (with FDR as his running mate), and eventually media empire. Today Cox Enterprises owns 17 newspapers, 15 TV stations, and 80 radio stations. Cox Radio primarily owns radio stations in mid-level markets. Through its production wing, it also produces the Neal Boortz and Clark Howard programs. Anne's sister Barbara Cox Anthony died in May.
Net Worth: $11.5 Billion
New York mayor and owner of the Bloomberg media empire, which includes Bloomberg Radio. He created his riches selling financial information terminals to Wall Street firms and added news service to take on Dow Jones and Reuters nearly a decade years later. Bloomberg Radio airs on XM Satellite Radio, Sirius Satellite Radio and WorldSpace Satellite Radio; not to mention flagship station WBBR in NYC. Michael eventually plans to sell his 68% stake one day, and possibly give away his fortune.
Net Worth: $8.8 Billion
Owns News Corp which owns pretty much everything. From its deal to buy WSJ-owner Dow Jones for a whopping $5 billion (90% in cash), to MySpace, to the New York Post, to the Fox Entertainment Group. Fox, of course, owns Fox News Radio - which successfully ties Murdoch to radio - and places him on the list. (Murdoch also owns Radio City, which is a FM station based in India.)
Net Worth: $7.6 Billion
Boston-born tycoon, and former annoyance to Mel Karmazin, Sumner Redstone is no stranger to making enemies. He publicly dropped Tom Cruise and longtime lieutenant Tom Freston. Then in July bought out son Brent's Viacom stake for $240 billion after a falling-out and continues to clash with daughter Shari saying she must "change her behavior" to succeed him. (That is... if he ever dies.)
James Kennedy (pictured), Blair Parry-Okedon
Net Worth: $6.3 Billion
Son and daughter of the late Barbara Cox Anthony, sister of Anne Cox Chambers, who died in May. The sisters had 98% ownership in the private company. James Kennedy has been the Cox Chairman and CEO since 1988. Blair, on the otherhand... lives in Australia.
Univision (Broadcasting Media Partners)
Net Worth: $3.4 Billion
Broadcasting Media Partners, a private consortium led by millionare Haim Saban, purchased Univision in March 2007. Radio division, Univision Radio, was formerly known as Hispanic Broadcasting Corporation. It is the eighth largest radio company in the United States with 47 stations throughout the U.S. and Puerto Rico. Univision Radio specializes in Spanish language radio formats.
Net Worth: $2.5 billion
The media queen continues to expand her empire, and her net worth. Last year she launched the Oprah & Friends channel on XM Satellite Radio - which is why she's on this list. "The Oprah Winfrey Show" launched nationally in 1986 - currently it airs in 135 countries and draws in 46 million viewers a week in the U.S. - unfortunately it seems only a fraction of those viewers have followed her to XM.
William Randolph Hearst III
Net Worth: $2.4 Billion
Hearst Corp is a privately-held American-based media conglomerate. Hearst Corp owns Hearst-Argyle, which currently owns two radio stations based in Baltimore, Maryland: WBAL and WIYY. Previously owned Phoenix's KKLT, KTAR, KMVP; Pittburgh's WTAE, WTAE-FM (now WEAE and WKST respectively); and Milwaukee's WISN, and WISN-FM (now WQBW). In addition to having inherited part of the Hearst empire, William III a partner at VC firm Kleiner Perkins.
Phoebe Hearst Cooke, Austin Hearst, David Hearst Jr, George Hearst Jr (pictured)
Net Worth: $2.1 Billion
All four each are worth $2.1 Billion and part of the Hearst empire. Grandchilden of publishing legend William Randolph Hearst, and great-grandchildren of the famous George Hearst, who was a prospector, land baron, and U.S. senator (not to mention a key character in HBO's Deadwood).
Billy Joe "Red" McCombs
Clear Channel Communications
Net Worth: $1.6 Billion
Red McCombs founded the radio station giant Clear Channel with Lowry Mays back in 1972 and still owns 4.8 million shares of CCU - worth roughly $180 million. The former owner of the Minnesota Vikings cashed out in '05, and sold the team for $600 million (netting a whopping $350 million in profit). Clear Channel is the largest U.S. radio station owner with over 1,100 full-power AM, FM, and shortwave radio stations, and eleven satellite radio channels on XM Satellite Radio (all of which, I refuse to listen to).
Net Worth: $2.5 billion
To a younger generation, the term "Radio" and "iPod" are synonymous with each other (that is, if they even listen to the radio other than as an alarm clock). So it's fitting to place Jobs on this list, although from a technical sense, he's not related to the radio biz.... yet.