David Copperfield's $800 m fortune could make him future billionaire

David Copperfield might be most famous for extravagant illusions that include making the Statue of liberty disappear and walking through the Great Wall of China. But perhaps his biggest feat yet is the enormous nine-figure fortune that the raven-haired 57-year old has quietly amassed over his three-decade career, the Forbes magazine reported.

The famed illusionist is worth an estimated $800 million by FORBES’ count, thanks to a 13-year stint in Las Vegas, world tours, 20 television specials, a massive irreplaceable collection of magic memorabilia, and a real estate portfolio comprised of multimillion dollar trophy properties. That magical sum lands him on this year’s FORBES 400 list of Ones To Watch, a 15-person round-up of entrepreneurs, scions, and entertainers with nine-figure fortunes to their names.

At $800 million, Copperfield’s net worth places him in a rare and elite club of ultra-rich self-made celebrities poised to become billionaires in the near-future. Only one other entertainer has cracked the billion dollar club to join the FORBES 400 ranks: Oprah Winfrey (worth $2.9 billion). And among those up-and-comers we highlighted this year, only three other people fall into this category: pop queen Madonna ($500 million), pro golfer Phil Mickelson ($325 million), and country crooner Toby Keith ($320 million).

Over the course of his career, Copperfield has claimed 11 Guinness World Records, including one for the most tickets sold by a solo performer, trumping Madonna, Michael Jackson and Elvis Presley. Combined, his world tours and Vegas shows have grossed $4 billion and counting. His television specials have earned 21 Emmy awards and reached a total worldwide audience of three billion. Dreams and Nightmares, his 1996 stage show, still holds the record for most Broadway tickets sold in a week, having grossed more than $6 million in its five-week run.

A sizeable chunk of Copperfield’s wealth comes from his Vegas show at the MGM Grand Hotel & Casino. It has run nonstop for 13 years, with the illusionist performing as many as three shows a day seven days a week for 42 weeks each year. Ticket sales gross as much as $50 million annually, plus merchandising, which he owns. This summer the performer signed a three-year contract that will see see the casino’s Hollywood Theater renamed after him. Later this year, he will also unveil a new show packed with what he refers to as “Jurassic Park-sized” magic. Among the new features is a green alien automaton named Attila, for which new shirts, toys and a children’s book series are in the works. And he does all of it without the help — or fees — of a manager or agent.

“David’s definitely the hardest working guy in show business,” says Scott Sibella, President and COO of the MGM Grand. “People would kill to have a show like David’s in their property because of the success it has brought.”

Copperfield also owns the world’s largest collection of magic memorabilia. Comprised of more than 150,000 artifacts and books, his International Museum & Library of the Conjuring Arts includes prized items from Harry Houdini, Georges Melies, and Jean Eugene Robert-Houdin. Housed in a 40,000-square foot warehouse a few miles from the Las Vegas Strip, the collection is open only to fellow magicians, historians and academics, actors researching roles, friends and family, and sometimes, to the media. Occasionally, the illusionist trots items out of the building, which he owns, for lectures and exhibitions at venues like the Smithsonian in Washington, DC.

“It’s irreplaceable, it’s priceless,” said Copperfield of his ever-growing collection. “You can’t replace it, which is part of the excitement.”