Liberace Net Worth - Pulptastic

Liberace was an American pianist and vocalist who had a net worth of $18 million at the time of his death in 1987. Thats the same as around $42 million in todays dollars after adjusting for inflation.

What was Liberace’s Net Worth?

Liberace was an American pianist and vocalist who had a net worth of $18 million at the time of his death in 1987. That’s the same as around $42 million in today’s dollars after adjusting for inflation.

His personal fortune could have been higher, but he spent huge sums of money on a lavish lifestyle that became a cornerstone of his brand and persona. He was the world’s highest-paid artist in the 1950s and 1970s.

Starting his career as a child prodigy in Wisconsin, Liberace became a major figure in entertainment. He gave many concerts, appeared on TV, starred in films, and endorsed brands. He had popular concert residencies in Las Vegas and toured the world.

Known for his unique style and personality, Liberace earned the nickname “Mr. Showmanship.” The exact value of his estate became public during a bitter lawsuit after his death.

Early Life and Musical Career

Władziu Valentino Liberace was born in 1919 in West Allis, Wisconsin. He was raised by a Polish mother and an Italian father, and started playing piano at the age of four. Liberace’s father was strict, which helped him memorize complex pieces by the age of seven. He started playing music in theaters and on local radio, and even performed at strip clubs and cabarets during the 30s to earn a solid income during the depression.

Liberace’s Career Highlights

Liberace began with classical music but switched to pop music in the 40s, performing in nightclubs across the US. He became more of a showman than a musician and aimed to be a TV and movie star. Critics were harsh on his piano-playing skills.

He got his own show, “The Liberace Show,” in the 50s, but his career declined afterwards. He appeared on various TV shows in the 70s and acted in movies like “South Sea Sinner,” “The Man Who Played God,” and “The Boys Meet the Girls.” He recorded several records, with “Ave Maria” being his most successful single, selling over 300,000 units.

Liberace’s Brand Endorsements and Catchphrase

Liberace made a significant addition to his fortune by endorsing a vast number of brands over the years. He received impressive gifts from sponsors, including a white limousine. He appeared in advertisements for a wide range of companies, from banks and insurance to food and morticians. Despite being criticized for these deals, Liberace embraced the criticism and famously said, “I laughed all the way to the bank.”

Liberace’s Lawsuits Over Gay Rumors

In 1956, Liberace filed a lawsuit against “Daily Mirror” for libel, claiming that he was not gay. He received $250,000 in damages and famously said, “I cried all the way to the bank.” In 1957, he sued “Confidential” for implying that he was gay throughout his career. This suit was settled with payouts for Liberace. In 1982, his chauffeur filed a palimony lawsuit, claiming that he was Liberace’s long-term lover. Although Liberace denied being gay and denied the relationship, he settled the lawsuit for $75,000 and gave the chauffeur three cars and three dogs.

Liberace’s Real Estate Portfolio

In 1953, Liberace designed and built a home in the LA suburb of Sherman Oaks, where he lived with his mother until 1958. The house was piano themed, including a piano-shaped pool. After his mother was attacked by burglars, they moved to Malibu.

In Hollywood, Liberace owned a penthouse and a 28-room mansion in the hills, which he bought for $250,000 in 1961. The home is now worth $15-20 million.

In Palm Springs, Liberace owned multiple homes.

However, Liberace’s most famous home was his 14,400 square foot mansion in Las Vegas, which he created in the mid-1970s by combining two homes. After his death, the home was sold to a non-famous couple, but by 2013 it was in foreclosure. It was purchased for $500,000 by a British businessman who spent $3 million restoring and upgrading the mansion. In 2016, it was designated a Clark County Historical Designation.

Liberace’s HIV/AIDS Diagnosis and Death

Liberace was diagnosed with HIV in 1985, but the information was covered up. There are suspicions that he may have infected others with the virus. Two of his lovers later tested positive and died.

Liberace did not seek medical treatment for his illness, and only a few close family members and his manager were notified. In 1987, he was hospitalized for pneumonia, which was a complication of AIDS. He passed away in his Palm Springs retreat home at the age of 67.

Initially, reports stated that he died from anemia and heart disease. However, it was later revealed that his family, doctors, and manager had tried to conceal the real cause of death. The public eventually learned that Liberace was not only gay, but that he had also died from HIV/AIDS.

Battle over Liberace’s Estate Reveals $18 Million Worth of Assets

Upon his death, a legal battle ensued between former associates and employees of Liberace, revealing that he had left behind $18 million worth of assets. The battle involved his nephew, niece, cook, sister, maid, and longtime companion who wished to remove the estate trustee.

Liberace’s will left his sister $500,000, former companion $250,000, his dogs $50,000, his cook a house and a car, and his maid $5,000. The nephew and niece were unhappy with their exclusion from the will. The trustee accused the companions of being freeloaders who were upset with the amount of money and control they received.

The estate raised questions about the whereabouts of various jewelry, accusing the companions of looting safety deposit boxes and Liberace’s mansion. Eventually, Liberace’s relatives and companions lost the lawsuit, and the majority of his wealth was left to his nonprofit organization, the Liberace Foundation for the Creative Performing Arts, in accordance with his will.

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