Summary
- Radcliffe's parents founded a business and invested his acting earnings in it, leading him to have a $110 million fortune in 2023.
- Although Radcliffe's business took a hit, losing nearly £1 million in 2020, he doesn't see money as a means to an end, but rather as a tool for freedom.
- Unlike most stars, Radcliffe isn't bothered by his lost sum and takes on unique roles.
Ever since Daniel Radcliffe was a child, he has had the world watching virtually everything he does in public because of his Harry Potter fame. Worse yet, the media is also there to report on many of the things that Radcliffe understandably tries to keep close to his chest.
During interviews, Radcliffe tends to be an open book which is funny because he once revealed that he spends a fortune on his personal library. Despite that, Radcliffe isn't the kind of star who boasts about his fortune which has left the media to look into his finances. The media's inquiries resulted in them discovering that Radcliffe lost almost £1 million in 2020.
How Did Daniel Radcliffe Lose Almost £1 Million?
After Daniel Radcliffe and his Harry Potter co-stars Emma Watson and Rupert Grint headlined the popular film franchise, they all earned impressive fortunes. Unfortunately for many of Radcliffe's peers, far too many former child stars walk away from the entertainment business with nothing.
The reason why so many child entertainers end up with nothing is that they have their money stolen. In some cases, it is the kid actor's parents who take from them, in others it is predatory business managers, and some give their cash to criminals for illicit substances. In the end, the results are still the same.
Fortunately for Daniel Radcliffe, he has seemingly come out the other side of childhood fame remarkably well. Most notably, Radcliffe doesn't seem to be concerned with the trappings of fame. Radcliffe actually is so disinterested in fame that he once wore the same clothes for weeks to make the paparazzi lose interest.
It also turns out that Radcliffe walked away from being a child star in remarkably good shape financially. A huge portion of the reason why Radcliffe is doing so well financially is something he can thank his parents for.
Once Radcliffe was chosen to star in the Harry Potter franchise, his parents were left with the challenge of figuring out how to handle his finances. Clearly wanting to do the right thing for their son, Radcliffe's parents actually founded a business in the year 2000.
Before Radcliffe even was a teenager, his parents began pouring the money he made from his acting career into the company they founded for him. Once Radcliffe became an adult, his parents handed over control of the company to him.
Is the Cast of Harry Potter Still Friends?
Ever since then, Radcliffe has continued to invest the money he makes into the business. Thanks in large part to the brilliant way Radcliffe's parents set him up for success he has a $110 million fortune as of this writing according to Celebrity Net Worth.
While Radcliffe investing his money in the company his parents founded is a great business move, it does expose him to a certain degree. The reason for that is that it is relatively easy for the press to find out a lot of information about companies through their tax filings.
In 2020, the Daily Mail looked into Radcliffe's business which is what led them to discover that the beloved actor took a major hit financially that year. According to tax filings, Radcliffe's company lost £952,175 in 2020.
That was a huge business downturn for Radcliffe as his company banked £4.2 million the previous year.
Why Daniel Radcliffe Probably Doesn't Care About Losing Money
Throughout Hollywood history, there have been some examples of former child stars who remained a big deal in Hollywood as adults. A perfect example of that is Leonardo DiCaprio who continues to be paid a fortune to headline major movies years after he was a kid actor.
In some ways, Daniel Radcliffe is like DiCaprio since he still takes the occasional high paying acting gig. That said, Radcliffe has become a unique entity in Hollywood based on everything that is known about him.
Since Radcliffe last starred in a Harry Potter movie, he has portrayed a corpse that has a slew of uses and a man turning into a demon who can read people's minds. The reason why Radcliffe has taken on odd roles like those, and he even portrayed Weird Al is simple, he seems to care deeply about landing interesting roles.
Two things have freed Radcliffe up to focus on off the wall roles. The first reason why Radcliffe can afford to take fascinating roles is that he has already accumulated such an impressive fortune.
More importantly, the reason why Radcliffe can focus on taking roles that interest him is because of his views on money. Unlike most stars who seem to care most about making as much money as possible, Radcliffe sees money solely as a means to an end.
In 2020, Radcliffe made an appearance on the BBC’s Desert Island Discs radio program. During the resulting conversation, Radcliffe revealed that someone he worked with as a child changed the way he has looked at money ever since.
“This is something I was told by Will Steggle, my dresser in Potter — he said: ‘money should give you room to maneuver in your life, at best that’s is what it gives you — a bit of freedom to do what you like.’”
In the year 2016, Radcliffe was interviewed by The Belfast Telegraph, and he was asked about his fortune. After the interviewer brought up reports about how rich Radcliffe is, they remarked that the number was beyond comprehension for most people. In response, Radcliffe said, "It is for me".
From there, Radcliffe was asked what he does with his massive fortune and his response was very telling. "I don't really do anything with my money. I'm very grateful for it, because having money means you don't have to worry about it, which is a very lovely freedom to have. It also gives me immense freedom, career-wise."
After it was reported that Radcliffe's company lost £952,175, the actor didn't comment on the revelation. That said, based on everything that Radcliffe has said about how he views money, it is very hard to imagine the actor being bothered by the lost sum.
