David Letterman's $400 Million Net Worth Makes Him One Of The Richest Late Night Hosts

Summary

David Letterman's unique and nontraditional approach to hosting made Late Night with David Letterman a cult classic.
Letterman's move to CBS as the host of Late Show with David Letterman came with a massive increase in salary, going from $14 million to $30 million per season.
Even though his net worth is reported to be over $400 million, sources are divided on the exact number, with some suggesting he is worth closer to $500 million.

David Letterman's start on late-night television as a frequent guest star on Johnny Carson's The Tonight Show allowed him to put his comedic chops on display early on. NBC officially offered him his first spot in 1982, Late Night with David Letterman.

Thanks to his unique and nontraditional approach to hosting, the show quickly turned into a success and became a cult classic for viewers. In 1993, Letterman moved to CBS, becoming Late Show with David Letterman, and this change came with a massive influx in salary, going from a reported $14 million per season to $30 million per season.

It's not surprising that David Letterman was able to amass a massive net worth of over $400 Million in his 30-plus years as a host, but let's take a look at where he ranks among other late-night TV hosts.

Updated August 2024: This article has been updated to reflect the more recent information about David Letterman's net worth. David's fortune has remained steady for the last couple of years.

David Letterman's Annual Salary

David Letterman Earned Up To $28 Million Per Year

David Letterman laughing — A photo of David Letterman on the set of Late Show with David Letterman

Letterman earned most of his net worth from The Late Show

David Letterman's salary on The Late Show has been impressive for a long time. Figures suggest he earned $28 million in 2014, the year before he left the late-night TV show.

Letterman clearly has multiple income streams, but the bulk of his salary likely stemmed from his gig with CBS. Otherwise, why would he have stayed so long?

As it was, Letterman's reign in late-night TV broke records, both in terms of his salary earnings and his tenure.

In total, David Letterman hosted 6,080 episodes of Late Night and Late Show, surpassing his friend and mentor Johnny Carson as the longest-serving late night talk show host in American television history.

How Much Other Late-Night TV Hosts Earn Compared To Letterman

Late Night Talk Show Hosts-Conan, David Letterman, Seth Meyers, Jimmy Fallon

Only Jay Leno made more than Letterman on the late-night talk show circuit

Stephen Colbert's salary easily surpassed David Letterman's, netting Colbert $15 million per year. While Letterman is said to have made $50 million per year, that's not from a single show or network.

It is, however, more than Craig Ferguson made in all his years on TV before he left The Late Late Show. Ferguson was worth $30 million after he gave up his seat to James Corden.

But even James Corden can't hold a candle to his earlier predecessor's earnings, as Corden was worth about $70 million when he left The Late Late Show.

Here is what some late-night talk show hosts have earned and are continuing to earn, according to Yahoo! Finance and how they compare to Letterman:

Host: Seth Meyers	Salary: $5 million/year	Net Worth: $26 million
Host: John Oliver	Salary: $8 million/year	Net Worth: $35 million
Host: Jimmy Kimmel	Salary: $15 million/year	Net Worth: $50 million
Host: Jimmy Fallon	Salary: $16 million/year	Net Worth: $60 million
Host: Stephen Colbert	Salary: $15 million/year	Net Worth: $75 million
Host: Bill Maher	Salary: $10 million/year	Net Worth: $140 million
Host: Taylor Tomlinson	Salary: $3 million/year	Net Worth: $8 million

During their heydays, hosts Jay Leno, James Corden, Craig Ferguson, and more were bringing in impressive paydays for their last years on their respective talk shows.

These now-retired talk show hosts, according to Celebrity Net Worth earned a good deal of money. Those figures include:

Host: James Corden	Salary: $9 million/year	Net Worth: $70 million
Host: Craig Ferguson	Salary: $8.5 million/year	Net Worth: $30 million
Host: Jay Leno	Salary: $30 million/year	Net Worth: $450 million
Host: Conan O'Brien	Salary: $15 million/year	Net Worth: $200 million

Letterman's net worth is a testament to the fact of how hard he worked over the years and how his deals outside of hosting The Late Show With David Letterman have helped him amass his hefty net worth.

David Letterman's Net Worth Is Over $400 Million

David Letterman Diversified His Work To Make His Fortune

David Letterman waving to someone — David Letterman with a beard waving outside

Letterman continues to work on My Next Guest Needs No Introduction on Netflix

Early in 2023, sources seem to be divided on Letterman's exact net worth. However, today it appears that most agree he is worth $400 million.

Letterman has surpassed many iconic TV show hosts' net worth with that number. The fact that he's no longer hosting late-night TV also doesn't seem to have impacted David's cash flow. The only exception appears to be Leno. Both of which appear to be keeping their net worth as a result of their side hustles. For Leno, it is his stand-up career that brings in $10 million yearly. For Letterman, it is for My Next Guest Needs No Introduction, which he gets paid $2 million per episode for.

After a brief time off-air between 2014 and 2018, Letterman reappeared on My Next Guest Needs No Introduction with David Letterman, a highly-rated Netflix series.

With four seasons to date, it is being reported by some outlets that the fifth season is set to premiere in 2024. However, that has not been confirmed, so fans will have to wait and see.

In 2022, David appeared in a comedy special, and he continues to work on other projects, both in films and television. Some of those ways that Letterman makes his net worth is through real estate, owning a racing team, and having an extensive car collection.

The homes that Letterman owns, according to Celebrity Net Worth include:

New York Estate	Year Purchased: 1994	Purchase Price: $5.3 million	Year Sold: Still owns	Sale Price: N/A
Montana Chateau	Year Purchased: 1999	Purchase Price: Unknown	Year Sold: Still owns	Sale Price: N/A
Martha's Vineyard Home	Year Purchased: 2001	Purchase Price: $11 million	Year Sold: Still owns	Sale Price: N/A
St. Bart's Home	Year Purchased: Unknown	Purchase Price: Unknown	Year Sold: Still owns	Sale Price: N/A
Connecticut Estate	Year Purchased: 1983	Purchase Price: $400,000	Year Sold: 2002	Sale Price: $1.1 million

Letterman's racing team, Rahal Letterman Racing signed a multi-year deal with Graham Rahal earlier this year. While the financials have not been released, the hopes are that Rahal can qualify for the Indy 500. If this happens, the stock of the team goes up dramatically.

Part of Letterman's net worth is tied to his car collection. Those cars, according to CARHP include:

Porsche Cabriolet	Year: 1961	Price: $87,550
Porsche 911 Coupe	Year: 1988	Price: $102,000
Porsche 356C	Year: 1964	Price: $109,000
Ferrari 328 GTS	Year: 1988	Price: $112,000
Porsche 356 A Speedster	Year: 1957	Price: $340,000
Ferrari 250 GTE	Year: 1963	Price: $350,000
Ferrari Dino 246 GTS	Year: 1969	Price: $430,000
Ferrari Daytona	Year: Unkn	Price: $790,000
Ferrari 330 GTS	Year: 1968	Price: $2.25 million
Ferrari 288 GTO	Year: 1985	Price: $3.5 million to $4 million

Letterman recently appeared on the Late Show in November 2023 to record audiences. Fans were thrilled to see Letterman back on the late-night circuit if only as a guest, to hear what he has been doing and what he missed since leaving the show that made him a household name. While this did not help Letterman's net worth, it helped to keep him in the public eye for future projects that Letterman may have.