What was Desi Arnaz's net worth?
Desi Arnaz, the Cuban-American musician, actor, and television producer, had a net worth of $20 million at the time of his death in 1986. Born in Santiago de Cuba in March 1917, Arnaz gained fame as Ricky Ricardo on the television series "I Love Lucy" alongside his wife Lucille Ball. He led the Desi Arnaz Orchestra and portrayed Ricky Ricardo from 1951 to 1957, continuing in "The Lucy-Desi Comedy Hour" from 1957 to 1960.
As the co-founder of Desilu Productions with Ball, Arnaz executive produced several successful TV series including "Willy," "I Love Lucy," "The Lucy-Desi Comedy Hour," "The Ann Sothern Show," "The Lucy Show," and "The Mothers-In-Law." He won a Golden Globe in 1956 for Best TV Show and was awarded stars on the Hollywood Walk of Fame in 1960 for both Motion Picture and Television. Arnaz and Ball were married from 1940 to 1960, and he later married Edith Mack Hirsch. Desi Arnaz passed away on December 2, 1986, at 69 years old due to lung cancer.
Desilu Productions
Desi and Lucille formed Desilu Productions in 1950 to produce their vaudeville act. Ball managed artistic decisions while Arnaz handled business operations, despite his lack of business experience. One strategic move Arnaz made was to request the production costs for an entire season upfront, keeping the show inexpensive to produce. By adhering to a strict budget, the series became very cost-effective. Lucille and Desi personally paid for the first episode's production costs, ensuring financial discipline.
Arnaz's notable business acumen included the decision to use film instead of kinescope for syndications. Although expensive, this ensured higher-quality broadcasts. Desi secured this arrangement by agreeing to a pay cut but insisted that he and Lucille retain the film prints and re-broadcast rights. This decision became one of the most lucrative deals in TV history.
(Photo by Archive Photos/Getty Images)
In 1957, CBS paid $4.5 million (equivalent to $40 million today) to buy back the rights to the show's 180 episodes. Lucille and Desi used this money as a down payment on a new studio lot. In the same year, Desilu bought RKO Studios for $6 million, making Lucille the first major female studio mogul.
Desilu produced numerous hit shows, including "The Untouchables," "The Ann Sothern Show," and "Sheriff of Cochise." Their lot hosted productions like "The Dick Van Dyke Show," "The Andy Griffith Show," and "My Three Sons."
Desilu went public in 1958, employing over 800 people and generating more than $20 million annually. After their divorce in 1960, Lucille bought Desi's shares in 1962 for $2.5 million, equivalent to $20 million today.
Lucille took over production and creative control, green-lighting shows like "Star Trek" and "Mission Impossible." Despite NBC's initial rejection of "Star Trek," Lucille's persistence led to a second pilot and the show's eventual success. In 1967, Lucille sold Desilu to Gulf+Western for $17 million, or $130 million today. This transformed Desilu into the production arm of Paramount Pictures.
'I Love Lucy', 1956. (Photo by Hulton Archive/Getty Images)
Early Life
Desi Arnaz was born into a prominent Cuban family where his father was the mayor of Santiago de Cuba. However, following the Cuban Revolution, the family lost their wealth and fled to Miami in 1933.
Desi displayed a passion for music and acting from a young age. At 11, he started playing the guitar and soon became proficient. He performed in school plays and local theaters, and after moving to Miami, began playing in nightclubs. He eventually got a job as a drummer in Xavier Cugat's orchestra, gaining crucial industry experience.
Career Beginnings
In 1939, Desi's big break came with the role in the Broadway musical "Too Many Girls," where he received critical acclaim and met his future wife, Lucille Ball. Despite his success in theater, breaking into Hollywood proved difficult. He made several films in the 1940s, but none were particularly notable.
Desi's career took a pivotal turn in 1951 when he and Lucille Ball created Desilu Productions, leading to the iconic TV show "I Love Lucy."
I Love Lucy
Premiering on CBS in October 1951, "I Love Lucy" became an instant hit. The show, featuring Lucille Ball and Desi Arnaz, was one of the first sitcoms filmed in front of a live studio audience, blending comedy, music, and slapstick humor. Desi’s character, Ricky Ricardo, a Cuban bandleader, helped to break down barriers for Latino actors.
"I Love Lucy" ran for six successful seasons, solidifying Desi and Lucille as beloved figures in American entertainment history.
Later Career
Post "I Love Lucy," Desi continued working in TV and film, including his show "The Desi Arnaz Show." He remained an active musician, recording several albums and even guest-starring on "The Simpsons" in 1992, performing his classic song "Babalu."
Personal Life and Death
Desi's personal life was tumultuous, marked by his troubled marriage to Lucille Ball. They divorced in 1960 but maintained a close friendship. Desi had two children, Desi Arnaz Jr. and Lucie Arnaz.
Desi Arnaz passed away on December 2, 1986, due to lung cancer at the age of 69.
