What Is Phoebe Cates' Net Worth?
Phoebe Cates is an accomplished American actress, model, and entrepreneur with a net worth of $35 million. This wealth is shared with her husband of over three decades, the esteemed actor Kevin Kline. Phoebe gained fame through iconic roles such as Linda Barrett in "Fast Times at Ridgemont High" (1982), Kate Beringer in "Gremlins" (1984) and "Gremlins 2: The New Batch" (1990), and Elizabeth "Lizzie" Cronin in "Drop Dead Fred" (1991). She also graced Broadway in a 1989 production of Paddy Chayefsky's "The Tenth Man."
In the mid-1990s, Phoebe stepped back from acting to focus on her family, with her last notable screen role being in the 2001 film "The Anniversary Party."
Manhattan Apartment
For several decades, Kevin and Phoebe have resided in an elite Manhattan building at 1125 Fifth Avenue. Although specific details about their apartment are scarce, units in this building are valued between $10 million and over $20 million, depending on layout. For context, Bette Midler's penthouse in the same building was listed at $50 million in 2019 before being withdrawn from the market. In 2018, a unit directly below hers was listed at $20 million before also being taken off the market.
Beyond Manhattan, the couple owns a farm property in Garrison, New York, acquired in 1988 for $770,000.
Early Life
Born Phoebe Belle Cates on July 16, 1963, in New York City, Phoebe's mother, Lily, was born in China, and her father, Joseph (originally Katz), was a Broadway and television producer known for the game show "The $64,000 Question." Phoebe was raised alongside her siblings, Valerie and Alexandra, and attended both the Professional Children's School and Juilliard School. She commenced her modeling career at age 10, featuring in magazines like "Seventeen." Despite earning a scholarship to the School of American Ballet, she had to withdraw after suffering a knee injury at age 14. Reflecting on her modeling days, Phoebe stated, "It was just the same thing, over and over. After a while I did it solely for the money."
Career
Transitioning from modeling to acting, Phoebe debuted in the 1982 film "Paradise," despite initial reservations due to nudity requirements. Her father convinced her to proceed, asking, "What are you so hung up on nudity for?" Besides acting, Phoebe sang the film's theme song and released an accompanying album titled "Paradise." However, she later claimed producers used a body double for nude scenes without her consent, leading her to abstain from promoting the film. Her second film, "Fast Times at Ridgemont High" (1982), featured her in a role that "Rolling Stone" magazine described as having "the most memorable bikini-drop in cinema history." The film was preserved in the National Film Registry in 2005 for its cultural significance.
Cates continued to build her career with notable roles in "Private School" (1983), "Baby Sister" (1983), and "Gremlins" (1984), which grossed $212.9 million. She reprised her role in "Gremlins 2: The New Batch" (1990) and the 2015 video game "Lego Dimensions." Additional appearances include "Lace II" (1985), "Date with an Angel" (1987), "Bright Lights, Big City" (1988), "Shag" (1989), and "Heart of Dixie" (1989).
Capping off her impressive career, Phoebe played Elizabeth "Lizzie" Cronin in "Drop Dead Fred" (1991) and starred in "Bodies, Rest & Motion" and "My Life's in Turnaround" (both 1993). She turned down the role as Steve Martin's daughter in "Father of the Bride" (1991) due to her pregnancy. She appeared in "Princess Caraboo" (1994) with her husband, Kevin Kline, and returned to the screen for "The Anniversary Party" (2001) as a favor to her friend Jennifer Jason Leigh.
Personal Life
In the early '80s, Phoebe shared a Greenwich Village apartment with boyfriend Stavros Merjos. She met Kevin Kline while auditioning for "The Big Chill" (1983). Though both were involved with other people initially, they began dating two years later when they were both single. Phoebe and Kevin married on March 5, 1989, and have two children: Owen (born October 14, 1991) and Greta (born March 21, 1994).
The family all appeared together in the 2001 film "The Anniversary Party." Owen is a successful writer, director, and actor, while Greta is a notable singer-songwriter and musician. In 2005, Phoebe opened the Blue Tree boutique on Madison Avenue in New York City.
