What was Brad Grey’s Net Worth and Salary?
Brad Grey was an American businessman, talent manager and producer who had a net worth of $300 million at the time of his death. At the peak of his career Brad earned an annual salary of $30 million.
He ran Paramount Pictures for 12 years. During his time at Paramount Brad oversaw the highly successful launch of franchises such as “Transformers” and “Mission: Impossible.” Under his leadership, Paramount Pictures finished No. 1 in global market share in 2011 and No. 2 domestically in 2008, 2009 and 2010, despite releasing significantly fewer films than its competitors. He also produced 8 out of Paramount’s 10 top-grossing pictures of all time after succeeding Sherry Lansing in 2005.
Brad Alan Grey, born on December 29, 1957, and passed away on May 14, 2017, was a prominent American television and film producer. His career was marked by significant achievements in the entertainment industry, including co-founding Brillstein-Grey Entertainment (now Brillstein Entertainment Partners) and serving as the chairman and CEO of Paramount Pictures from 2005 until his passing.
Early Life and Career Beginnings
Brad Grey was born in the Bronx, New York, to a Jewish family. He pursued his education at the University at Buffalo, majoring in business and communications. During his time at the university, he became involved in the entertainment industry by working with a young Harvey Weinstein, a concert promoter at the time. Grey’s early experiences included producing a concert by Frank Sinatra in Buffalo in 1978.
One of his early career highlights was bringing comedian Bob Saget to New York, becoming Saget’s first client.
Talent Agent and Producer
In 1984, Grey crossed paths with talent manager Bernie Brillstein and convinced him that he could deliver fresh talent. This partnership led to the formation of Brillstein-Grey Entertainment. Grey’s foray into television production began in 1986 with the Showtime hit “It’s Garry Shandling’s Show.” He later produced shows like “The Sopranos,” “The Wayne Brady Show,” “Good Sports,” “The Larry Sanders Show,” “Mr. Show,” “Real Time with Bill Maher,” “NewsRadio,” and “Just Shoot Me!”
Grey ventured into film production, contributing to hits like “Happy Gilmore.”
During his career, Grey faced legal disputes, including a lawsuit from comedian Garry Shandling, who claimed that Grey’s deals for writers and producers led to the loss of talent on “The Larry Sanders Show.” Grey countersued, and the cases were ultimately settled out of court.
Another lawsuit arose around the film “Scary Movie,” where Grey and his company were sued for profit-sharing by an actor named Bo Zenga. This case involved allegations of fabricated resumes and personal bankruptcy.
Plan B and Paramount Pictures CEO
In 2002, Grey co-founded Plan B Entertainment with Brad Pitt and Jennifer Aniston, initially under a first-look deal with Warner Bros. The company produced notable films like “Charlie and the Chocolate Factory” and “The Departed.”
After Brad Pitt and Jennifer Aniston’s separation, Grey moved Plan B Entertainment to Paramount Pictures in 2005.
Paramount Pictures CEO
Grey assumed the role of CEO of Paramount Pictures Corporation in 2005. Under his leadership, Paramount achieved remarkable success at the box office with franchises like “Transformers,” “Paranormal Activity,” and “Iron Man.” The studio also released critically acclaimed films like “Star Trek,” “Shutter Island,” and “True Grit.”
Grey’s tenure saw the launch of Paramount Animation and productive partnerships with top-tier filmmakers like J. J. Abrams, Michael Bay, and Martin Scorsese.
Later Career and Ouster
Despite his successes, Grey was ousted from Paramount Pictures shortly before his death. This departure followed a power struggle between his backers and the family of majority owner Sumner Redstone, coupled with significant financial losses for the studio.
Brad Grey was involved in various philanthropic endeavors and served on boards and councils of institutions such as UCLA’s Executive Board for the Medical Sciences, USC School of Cinema-Television Board of Councilors, Project A.L.S. Board of Directors, NYU’s Tisch School of the Arts, and the Los Angeles County Museum of Art.
Grey received an honorary Doctor of Humane Letters degree from SUNY during his visit to Buffalo and UB in 2003.
Brad Grey passed away on May 14, 2017, at the age of 59, at his Holmby Hills home in Los Angeles, California, after battling cancer.