How Piers Morgan Built a $70M Net Worth: From Tabloids to TV Stardom

Piers Morgan has built an impressive $20 million net worth through his career filled with both praise and controversy. He made history by becoming the youngest editor of a British national newspaper at age 29. His appointment at News of the World in 1994 launched a remarkable three-decade experience through media’s top ranks.

His earnings tell an impressive story too. He pulled in $2 million yearly while hosting “Piers Morgan Tonight.” ITV paid him even more – $2.6 million annually on a two-year deal. His path to success started with journalism in 1988. He climbed the ranks to lead The Sun and Daily Mirror before becoming a TV star on “America’s Got Talent” and “Good Morning Britain.”

This piece will get into how Morgan amassed his wealth from his tabloid beginnings to his controversial TV career. His property portfolio includes a London Georgian townhouse he bought for $719,000 and a Beverly Hills home worth $5.4 million. The British phone-hacking scandal tainted his reputation, but Morgan’s confrontational style proved key to his financial success.

From Local News to National Headlines

My journalism journey started early in life. After studying at Harlow College in Essex, I became a reporter for local newspapers in Surrey and South London. Sports reporting drew me at first, but I soon found greater interest in crime stories where my natural talent shone through.

“He was a natural,” recalled Joan Mulcaster, associate editor of the Sutton Herald. “He had this knack of being able to get old ladies to talk to him”. My skill to connect with people later added by a lot to my growing net worth.

Everything changed when Mulcaster introduced me to Kevin O’Sullivan, who offered me a spot at The Sun. At 22, I worked as a casual reporter on the night news desk. The Sun’s staff welcomed me in 1988, and within a year, I became editor of the popular Bizarre entertainment column.

My big break came after getting photographed with Bros, the hottest pop duo back then. The Sun’s editor, Kelvin MacKenzie, liked the image enough to publish it across a center spread. “Right, get alongside all the stars. I don’t care how you do it, just do it,” he instructed me. His words shaped my approach to celebrity journalism.

The strategy worked well as I charmed my way into quick interviews with major stars like Gloria Estefan and Phil Collins. My salary details from this time remain private, but these early connections built the foundation for my future wealth.

Rupert Murdoch rewarded my ambition and media savvy in 1994 by making me editor-in-chief of News of the World. At 28, I became Britain’s youngest national newspaper editor since 1937. This success launched my career higher, and I moved to the Daily Mirror in 1995, becoming a major force in British media.

Television Fame and Financial Growth

My television career took off in 2006 after Simon Cowell picked me as a judge on America’s Got Talent. Cowell’s reason was simple – I was “just as arrogant, obnoxious and judgemental” as himself. This career shift would boost my earnings significantly over the next several years.

My judging career flourished on both sides of the Atlantic. The stint at AGT lasted six seasons (2006-2011), and I joined Britain’s Got Talent from 2007 to 2010. The BGT panel that I sat on found Susan Boyle, who went on to sell 25 million records worldwide.

ITV offered me a lucrative two-year “golden handcuffs” deal worth £2 million per year in 2008. My television presence grew stronger as I launched “Piers Morgan’s Life Stories” in 2009.

The real financial breakthrough arrived in 2011 with CNN selecting me as Larry King’s replacement. The contract brought in $5-6 million yearly over three years. I managed to keep my NBC position on America’s Got Talent during this time, with NBC work taking priority.

The CNN show’s ratings struggled and ended in 2014. Good Morning Britain became my next home in 2015, where I stayed until 2021. My departure followed controversial comments about Meghan Markle. GMB’s ratings dropped from 1.29 million viewers to 1.21 million. ITV’s share price fell 3.8%, which cut the company’s value by £200 million ($358 million).

Rupert Murdoch’s News UK signed me to what people called the UK’s highest-paid journalist contract in 2021 – a £50 million three-year deal. The package included writing columns for The Sun and New York Post, plus hosting my nightly television show.

“Piers Morgan Uncensored” launched on TalkTV in 2022. My focus shifted to YouTube in 2024, where the subscriber count has reached 2.3 million. This proves that controversy can be profitable.

Controversies, Columns, and Real Estate

My media career’s success has always had a shadow of controversy, especially when it comes to the phone hacking scandal that shook British tabloids. The Daily Mirror had me as its editor (1995-2004), and the notorious scandal pulled me in. I’ve managed to keep my stance of innocence by saying, “I’ve never hacked a phone in my life”.

A High Court judge ruled in December 2023 that “there can be no doubt” about my knowledge of phone hacking. Former political editor David Seymour stepped up to describe me as “unreliable and boastful” during court proceedings. Author Omid Scobie testified about my discussion of a story about Kylie Minogue that came from voicemails. The judge found this evidence “straightforward and reliable”.

These controversies didn’t stop me from building substantial wealth through writing. Mail Online’s US division brought me on as editor-at-large in 2014. I wrote several columns weekly and added a weekly piece for Mail on Sunday Event magazine. This setup went together with my television income to vary my revenue streams.

My property portfolio stands as a major part of my wealth:

• London Residence: A Georgian townhouse bought for £4 million in 2009 from my father-in-law, former Tory MP George Walden
• Country Retreat: An East Sussex property in Newick valued at over £700,000
• Beverly Hills Mansion: A lavish £4.2 million ($5.4 million) estate bought in 2011, with five bedrooms, five bathrooms, and staff quarters

Les Moonves, former CEO of CBS, owned the Beverly Hills property before me. Our family loves to explore local restaurants during Los Angeles visits instead of staying at the estate.

My estimated £70 million net worth comes from television, columns, and property investments. The legal scrutiny hasn’t stopped my financial portfolio from growing steadily.

Conclusion

My media career spans four decades, and I’ve come a long way from my early days as a local reporter in Surrey. The path from tabloid editor to television personality shows how ambition and being willing to stir up controversy can lead to substantial financial rewards. The phone hacking allegations have followed me throughout my career, yet my net worth keeps growing through smart career moves and multiple income streams.

Knowing how to reinvent myself has been vital to my financial success. I’ve always found ways to make money from my confrontational persona – from editing national newspapers to judging talent competitions, hosting morning television, and building my YouTube channel to 2.3 million subscribers. My property investments in London, Sussex, and Beverly Hills have added stability to my portfolio. The lucrative publishing deals have kept the money flowing between television contracts.

Critics might question my methods or journalistic ethics, but they can’t argue with the results. Every career phase built on previous wins – from that £719,000 London townhouse to my £50 million deal with News UK. Now at 59, I’ve built a net worth most journalists only dream about. My story shows that controversy might hurt your reputation temporarily, but it can create substantial wealth if you ride out the storm and use public attention to your advantage.