Chevy Chase, born Cornelius Crane Chase on October 8, 1943, is one of America’s most iconic comedians. From his early days on Saturday Night Live to his memorable film roles and television appearances, Chase has left an indelible mark on American comedy. But how exactly did he build his fortune? Let’s take a deep dive into Chevy Chase’s net worth, career earnings, and financial journey.
Chevy Chase’s Career Highlights and Earnings
Chevy Chase joins the original cast of Saturday Night Live, quickly becoming the show’s breakout star. His “Weekend Update” segments and physical comedy made him a household name. He earned $750 per episode initially (about $3,800 today).
Chase leaves SNL and stars in Foul Play with Goldie Hawn, earning $500,000 (≈$2.1M today). This established him as a bankable movie star.
Caddyshack is released, becoming a cult classic. Chase earned $1 million (≈$3.5M today) plus backend points that continue to pay residuals.
National Lampoon’s Vacation debuts, spawning a franchise. Chase earned $2 million upfront (≈$5.5M today) plus percentage of profits for the original film.
Fletch becomes another hit franchise for Chase. He reportedly earned $3 million (≈$7.5M today) plus backend participation.
While his film career slowed, Chase earned steady income from television appearances, voice work, and residuals from his hit movies.
Chase joins the NBC comedy Community, earning $100,000 per episode at the peak (≈$130,000 today). This six-season run significantly boosted his net worth.
Chase continues to earn from residuals, occasional roles, and public appearances. He also profits from syndication of his classic films and TV shows.
Breakdown of Chevy Chase’s Wealth
Chevy Chase’s $50 million net worth comes from various sources throughout his five-decade career:
- Film Salaries: At his peak in the 1980s, Chase commanded $3-5 million per movie. His participation in profitable franchises like Vacation and Fletch added millions more through profit-sharing.
- Television Earnings: From SNL to Community, Chase earned substantial TV paychecks. His Community salary alone totaled several million dollars over six seasons.
- Residuals and Royalties: Classic films like Caddyshack, Vacation, and Fletch continue to generate income through TV airings, streaming, and home video sales.
- Real Estate: Chase has owned several valuable properties over the years, including homes in New York and California. His current primary residence is a $5 million estate in Westchester County, NY.
- Investments: Like many wealthy celebrities, Chase has likely diversified his portfolio with stocks, bonds, and other investments.
Chevy Chase’s Real Estate Holdings
Real estate has been a significant component of Chevy Chase’s net worth. Some of his notable properties include:
- Current Home: A 5,000 sq ft mansion in Westchester County, NY, purchased for $3.2 million in 2005, now valued at approximately $5 million.
- Former Los Angeles Home: Sold his Brentwood estate in 1995 for $2.1 million (≈$4M today).
- New York City Apartment: Owned a luxury condo in Manhattan during his SNL days, sold in the late 1970s.
How Chevy Chase’s Net Worth Compares to Other SNL Alumni
While $50 million is impressive, some SNL stars have surpassed Chase’s net worth:
- Eddie Murphy: $200 million
- Adam Sandler: $420 million
- Mike Myers: $200 million
- Will Ferrell: $160 million
- Bill Murray: $180 million
However, Chase was one of the first SNL stars to achieve major Hollywood success, paving the way for those who followed. Adjusted for inflation, his peak earnings were comparable to today’s top comedy stars.
Frequently Asked Questions About Chevy Chase’s Net Worth
During his single season as a regular cast member (1975-76), Chase earned $750 per episode (about $3,800 in today’s dollars). As the show’s breakout star, he negotiated raises but left after just one season to pursue film opportunities. His total SNL earnings were likely under $50,000 (≈$250,000 today), but the exposure launched his lucrative film career.
Chase’s highest upfront salary was likely for Fletch Lives (1989), where he reportedly earned $6 million (≈$13M today). However, his profit participation in the original Vacation and Caddyshack may have earned him more over time through residuals and backend deals.
Yes. Chase continues to earn residuals from his classic films whenever they air on television, stream on platforms, or sell through home video. The Vacation series alone generates significant ongoing income. Industry estimates suggest he earns at least $500,000 annually from residuals.
Chase’s net worth peaked in the late 1980s at an inflation-adjusted equivalent of about $60-70 million. Some financial setbacks in the 1990s and reduced acting opportunities caused his net worth to dip before stabilizing. His role on Community (2009-2015) provided a significant boost to his finances in later years.
Beyond his real estate holdings, Chase’s most valuable asset is likely his intellectual property rights and residuals from his classic films. The ongoing popularity of movies like Caddyshack and the Vacation series provides a steady income stream that will likely continue for his lifetime and benefit his heirs.
Chevy Chase’s Financial Challenges
Despite his substantial earnings, Chase has faced some financial challenges over the years:
- Career Slump: After a string of box office disappointments in the late 1980s and 1990s, Chase’s earning power declined significantly.
- Divorce: His 1982 divorce from Jacqueline Carlin was reportedly costly, though exact settlement figures weren’t disclosed.
- Tax Issues: Like many high earners, Chase has faced substantial tax bills. In 2012, he settled a $1.2 million tax lien with the IRS.
- Reputation: Chase’s well-documented difficult personality may have cost him roles and earning opportunities over the years.
Despite these challenges, Chase’s early career success and smart management of his assets have maintained his status as a wealthy entertainer.
Chevy Chase’s Legacy and Lasting Impact
While $50 million is an impressive net worth, Chevy Chase’s true value to comedy is immeasurable:
- Pioneered the “smarmy but lovable” comedic persona that influenced generations of comedians
- Set the standard for SNL cast members transitioning to film stardom
- Created iconic characters like Clark Griswold that remain cultural touchstones
- His physical comedy style inspired actors from Jim Carrey to Will Ferrell
At 80 years old (as of 2024), Chevy Chase may no longer command the huge paydays of his heyday, but his classic work continues to entertain new generations and contribute to his substantial net worth. His place in comedy history – and his financial legacy – are both secure.
