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Forbes
Top-earning dead celebrities of 2005
Elvis is still the king of the crypt, but up-and-comers such as Johnny Cash and Ray Charles are new to Forbes' annual look at the fortunes of the dead.
By Forbes.com
They're famous across the globe. Their work is treasured by millions. And they're rolling in cash -- they just can't spend any of it.
The 13 members of our annual Highest-Earning Dead Celebrities list brought in a collective $186 million in the last year. They, or more accurately, their estates, earned that money by selling their work -- both written and recorded -- or just the rights to use their likenesses on T-shirts, posters or in advertisements. Sometimes, their life stories themselves are worth something: Ray Charles makes the list for the first time this year, in part because of income related to his 2004 biopic. Johnny Cash, who also makes his first appearance this year, has his own movie out in November.
Most of the lucky 13 on our list are there year in and year out, with only slight changes in their annual income -- the demand for Marilyn Monroe, for instance, remains fairly steady. Others see their relative fortunes rise and fall depending on whether Hollywood is throwing money their way--neither Theodor ("Dr. Seuss") Geisel nor J.R.R. Tolkien made the silver screen this year, and their income fell accordingly.
Big business
But there is increased competition for the right to represent rich, famous dead people. Indianapolis-based CMG Worldwide, which represents Monroe and James Dean, has long had much of the celebrity image and licensing business to itself. Now it is facing competition from image licensing company Corbis, owned by Microsoft co-founder Bill Gates. Earlier this year, Corbis purchased the Roger Richman Agency, a CMG rival, and hired Martin Cribbs, who had been in charge of licensing for Andy Warhol's estate.
More on Forbes.com
Meanwhile, entertainment mogul Robert Sillerman has made a $100 million bet on the future of Elvis Presley. His CKX purchased an 85% stake in the King's estate in February and now plans to ramp up efforts to license and exploit the rock 'n' roll icon. Sillerman has already had some success: We estimate Elvis generated some $45 million in pretax earnings in the last year, up from $40 million the year before.
Our earnings estimates cover the 12 months between October 2004 and October 2005. Our estimates measure pretax gross earnings before management fees and other expenses. In some cases, we are including proceeds from estate auctions. After all, Johnny Cash's possessions wouldn't have generated $3.9 million if they hadn't been owned by a country music legend.
But a one-time sale of possessions won't land a dead celebrity on the list more than once. In order to make repeat visits, you need to have created something that the public will want continued access to. John Lennon's musical legacy will keep him atop the list for years to come, as will the "Peanuts" empire created by Charles Schulz.
As for the recently departed, look for writers like Arthur Miller and Hunter S. Thompson to make a run at the list, as new retrospectives and anthologies of their work are released in years to come. Also waiting offstage: Johnny Carson, whose 30-year legacy in late-night television could generate millions down the road.
The top-earning dead celebrities:
No. 1 Elvis Presley
Earnings: $45 million
Occupation: Musician
Date of Death: Aug. 16, 1977
Age: 42
Cause: Heart attack
No. 2 Charles Schulz
Earnings: $35 million
Occupation: Cartoonist
Date of Death: Feb. 12, 2000
Age: 77
Cause: Cancer
No. 3 John Lennon
Earnings: $22 million
Occupation: Musician
Date of Death: Dec. 8, 1980
Age: 40
Cause: Murder
No. 4 Andy Warhol
Earnings: $16 million
Occupation: Artist
Date of Death: Feb. 22, 1987
Age: 58
Cause: Complications after a gall bladder operation
No. 5 Theodor Dr. Seuss Geisel
Earnings: $10 million
Occupation: Author
Date of Death: Sept. 24, 1991
Age: 87
Cause: Natural causes
-- Reporting by Leah Hoffmann, Peter Kafka and Peter Newcomb
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