The all-time famous fantasy novel ‘Harry Potter’ which is also adapted into a film is certainly inseparable from the hard work of JK Rowling in composing such an epic story. We think that almost all novels and also movie fans really know this JK Rowling’s masterpiece.
Although very closed with his economic conditions, JK Rowling is considered one of the most successful authors of this century. In fact, many say that he has now become a billionaire. Of course, many Harry Potter fans wonder for her net worth which gets her as one of the richest authors in the world.
What Is JK Rowling Net Worth?
As of 2021, JK Rowling’s net worth is roughly $1 billion. Reportedly, she is one of the wealthiest private citizens in the United Kingdom as the first author to earn a net worth of $1 billion in the world.
To note, she is extremely private about her personal finances and totally denied to be a billionaire. However, it may be possible if JK Rowling has secretly donated a large portion of her wealth to charity. Known, she has donated at least $150 million to charity to date.
As you know that Rowling earned fame and fortune for writing the ‘Harry Potter’ fantasy series that have sold 500 million copies since debuting in 1997. The ‘Harry Potter’ books actually produced a multibillion-dollar movie, merchandise, and theme park empire.
In a certain year, Rowling earns an average of $50 – $100 million for her various endeavors. She totally earned $90 million between June 2018 and June 2019. Well, she wrote her first book as an unemployed single mother living on welfare.
How Does JK Rowling Make Money?
JK Rowling mostly earns money through her masterpiece, ‘Harry Potter’ both books and films. Here’s how it breaks down:
- Earning Money from Harry Potter Books
Rowling originally earned money through ‘Harry Potter’ books where she received around £1,500 advance from Bloomsbury Publishing as ‘Harry Potter’ books publisher as a green light after getting strong rejection from various publishers.
Rowling started writing Harry Potter when she was working as secretary and researcher for Amnesty International in 1990 when she dreamed up the idea for her first novel. She imagined a boy who finds out he’s a wizard and attends wizardry school during a delayed train trip from Manchester to London. Then, she began to write as soon as she got back to her flat in Clapham Junction.
Rowling finished her first novel titled ‘Harry Potter and the Philosopher’s Stone’ in 1995. She then nabbed a literary agent and numerous publishers, however, she got rejection. ‘Harry Potter and the Philosopher’s Stone’ was published in June 1997 with an initial print run of just 1,000 copies.
This sleeper novel finally won awards and got attention. Then, in 1998, Scholastic Inc. won the rights to publish this novel. This publisher published the ‘Harry Potter’ book in 1998in the U.S with the altered title of ‘Harry Potter and the Sorcerer’s Stone’.
Moreover, this is the first installment of the series to turn out to be the first in an eventual series of seven books and the beginning of a major literary, film and licensing industry. Well, they broke literary sales records as the ‘Harry Potter’ books gained popularity around the world.
The last two ‘Harry Potter and the Deathly Hallows’ and ‘Harry Potter and the Half-Blood Prince’ sold 9 and 11 million copies within 24 hours of their releases. All ‘Harry Potter’ books have now been translated into 65 languages around the world.
- Earning Money from Harry Potter Film
‘Harry Potter’ story was finally adapted to film series when Warner Brothers paid seven figures for the rights to the first two books. The first film adaptation of ‘Harry Potter and the Philosopher’s Stone’ was released in November 2001 and second was released following November.
In 2004 and 2005, it was the year for subsequent releases of ‘rry Potter and the Prisoner of Azkaban’ and ‘Harry Potter and the Goblet of Fire’. The second two film adaptations were released in July 2007 and July 2009. Then, the final book ‘Harry Potter and the Deathly Hallows’ was released in two sections, one in November 2010 and final in July 2011.
Warner Bros and Rowling announced a series of five films that she planned toco-write and produce about the character Newt Scamander, the author of ‘Fantastic Beasts and Where to Find Them’ which was first released in 2016. This film set years before the events of ‘Harry Potter’ series and the second film was released in November 2018.
The point is, JK Rowling earns money through book royalties, movie rights, movie advances, merchandise and many more.
How Does JK Rowling Spend Money?
Rowling mostly spends her money to support a wide number of philanthropic causes and charities. In 2001, she also established the Volant Charitable Trust that uses its considerable budget in helping fight childhood poverty.
She also gets involved in numerous poverty and social inequality charities which work to help fight multiple sclerosis. She Coca-Cola, which won the race for the film series, donated $ 18 million USD to American charity Reading is Fundamentals and other community programs.
Rowling is known as the founder of the Anne Rowling Regenerative Neurology Clinic at the University of Edinburgh which is named for her mother who suffered from multiple sclerosis. She totally funded the clinic with an initial $16 million donation. Until now, Rowling has personally donated at least $150 million to charity.
A Few Words About JK Rowling Life
JK Rowling’s life was filled with bitter experiences where she had to go through various sad stories in her life until in the end her life changed one hundred and eighty degrees ever since the Harry Potter books have received recognition from publishers and people around the world.
At the age of about 20, he had to travel abroad, in Portugal to be precise, so that he could teach English there. Rowling married a young journalist, but the marriage did not last long. She had to accept the harsh reality where he had to raise his son Jessica alone without having any work.
Even though the difficult conditions, Rowling focused her free time on writing the ‘Harry Potter’ story, despite the many rejections from the publisher, but in the end the ‘Harry Potter’ book was released and shook the world.