Stephen King is a well-known name in literature, particularly for his remarkable contributions to horror, supernatural fiction, suspense, and fantasy. His net worth stands at an impressive $500 million, making him one of the wealthiest authors in the world. With over 350 million copies of his books sold globally, King’s influence on the literary world is undeniable. He has written more than 65 novels, including seven under the pseudonym Richard Bachman, as well as five non-fiction books and around 200 short stories. Many of these works have been adapted into iconic films and mini-series such as Carrie, It, Stand by Me, The Shawshank Redemption, Misery, and The Shining. His extensive body of work has earned him the title of the “King of Horror,” a fitting tribute to his impact on the genre.
Throughout his career, King has amassed a plethora of prestigious awards, including the Bram Stoker Awards, the World Fantasy Awards, and the British Fantasy Society Awards. In recognition of his significant contributions to literature, he was honored with the Medal for Distinguished Contribution to American Letters by the National Book Foundation in 2003. Other notable accolades include the World Fantasy Award for Life Achievement (2004) and the Grand Master Award from the Mystery Writers of America (2007). His contributions to American literature were further acknowledged in 2015 when he received the National Medal of Arts from the U.S. National Endowment for the Arts.
Stephen King’s Early Life
Stephen King was born on September 21, 1947, in Portland, Maine. His father abandoned the family when King was just a young child, and his mother, Nellie Ruth, took on the responsibility of raising Stephen and his adopted brother David. The family moved several times during Stephen’s childhood, residing in Wisconsin, Indiana, and Connecticut before finally settling in Durham, Maine.
A traumatic event in King’s early years left a lasting impact on him. He was with a friend when that friend was struck and killed by a train. King returned home in a state of amazement unable to speak about the incident. His family only learned of the boy’s death later that day. When Stephen was eleven, his mother worked as a caregiver in a mental health facility, providing for the family during this difficult time.
King’s fascination with horror began at a young age. He enjoyed reading EC horror comics, particularly Tales from the Crypt, and even began writing his own stories, selling them to friends. His first published work was a short story titled I Was a Teenage Grave Robber.
Stephen attended Durham Elementary and Lisbon Falls High School in Lisbon Falls, Maine. He went on to study at the University of Maine, where he earned a Bachelor of Arts in English. While in college, King wrote for the university newspaper, honing his writing skills and laying the foundation for his future career.
King’s Literary Career
After graduating from college, Stephen King worked as a high school teacher while also selling short stories to men’s magazines. In 1971, he secured a teaching position at Hampden Academy in Maine. His career as a novelist took off in 1973 when his novel Carrie was bought by Doubleday, marking the beginning of his success. Carrie was King’s fourth novel but the first to be published. He received an advance of $2,500 for the book, which would be worth around $14,525 today. The paperback rights for Carrie were sold for $400,000, which amounts to approximately $2.3 million today. The book’s success launched King’s career, and it was adapted into a successful film in 1976.
Throughout the 1970s, King published numerous works, including Salem’s Lot, The Shining, and The Stand. In 1977, he began teaching creative writing at the University of Maine. In 1982, he wrote Different Seasons, a collection of four novellas, three of which were adapted into highly successful films: Stand by Me, The Shawshank Redemption, and Apt Pupil.
In 1977, King started offering aspiring directors the opportunity to buy the film rights to his short stories for just $1. These directors, known as “Dollar Babies,” helped bring King’s work to the screen. One such filmmaker, Frank Darabont, adapted King’s short story The Woman in the Room in 1983. Darabont’s version was even a semi-finalist for an Academy Award.
A few years later, Darabont paid King $5,000 for the film rights to Rita Hayworth and Shawshank Redemption. Darabont wrote and directed the 1994 film version of the novella, which, despite initially underperforming at the box office, went on to become a beloved classic. The Shawshank Redemption has since grossed over $80 million worldwide and earned more than $1 billion when considering its rental, DVD, VHS, cable, and streaming sales.
King’s generosity toward his collaborators is evident in a gesture he made years after the success of Shawshank. He framed the $5,000 check Darabont had paid him for the film rights and sent it back to him with a note that read: “In case you ever need bail money. Love Steve.”
A Prolific Writer
King’s success continued throughout the 1980s and 1990s with best-selling novels such as It, Cujo, Pet Sematary, The Green Mile, and The Dark Tower series. In 2009, Under the Dome was published and later adapted into a television series that aired on CBS in 2013. His latest novel, Fairy Tale, was released in 2022, and a book about Holly Gibney, titled Holly, is set for release in September 2023.
In addition to his literary achievements, King and his wife, Tabitha, also own Zone Radio Corp, a media company that operates several radio stations in Maine. The couple’s business ventures and philanthropy further demonstrate their commitment to their community.
Real Estate Ventures
Stephen and Tabitha King own multiple properties across the United States. They spend time in a historic Victorian home in Bangor, Maine, which they plan to turn into a museum and writer’s retreat. They also own a summer residence in the picturesque lake region of Lovell, Maine, near the New Hampshire border. Additionally, the Kings have a waterfront mansion in Sarasota, Florida, offering them a retreat on the Gulf of Mexico.
Stephen King’s journey from a young, struggling writer to a literary giant is a testament to his talent, perseverance, and dedication to his craft. With a net worth of $500 million, King’s legacy as a master storyteller continues to inspire and entertain millions around the world. His vast collection of novels, short stories, and films have shaped popular culture and solidified his place as the King of Horror. Beyond his literary success, King’s philanthropic efforts and family life reflect his deep connection to his community and his commitment to making a positive impact.
