What Is Haim Saban’s Net Worth?
Haim Saban is an Egyptian-born Israeli-American television and media proprietor, producer, and composer who has a net worth of $3 billion. And that’s AFTER Haim has given away around $1 billion to charity to date. Haim Saban made his fortune in television and media as the founder of Saban Entertainment, a television production company. He also composed the theme songs for a number of children’s television series, including “Inspector Gadget” and “He-Man,” in addition to producing Western adaptations of Japanese cartoons such as “Power Rangers” and “VR Troopers.”
Saban got his first big win with the children’s TV show “Mighty Morphin Power Rangers” in the early 1990s. In 2019, Haim sold the Power Rangers’ intellectual property rights to Hasbro for $522 million.
In 2005, Haim sold Fox Family Channel, a joint venture with News Corp., to Disney for $5.3 billion, and in 2007, Saban and a group of private equity investors bought Univision for $13.7 billion, getting a stake that is now worth $600 million. In 2019, Haim launched Saban Music Group, which focuses on “global artists, particularly those from Latin America, the development of new artists and acquisitions of existing businesses.” Haim received a star on the Hollywood Walk of Fame in 2017.
Early Life
Haim Saban was born on October 15, 1944, in Alexandria, Egypt. He is from an Egyptian-Jewish family, and his family immigrated to Israel in 1956. Haim’s parents sent him to a Youth Aliyah boarding school, and after he was expelled, he began attending night school, where he was told by the principal, “You’re not cut out for academic studies; you’re cut out for making money.” Saban later served in the Israel Defense Forces.
Music Career
Haim’s music career began in 1966 as the manager and bassist fro the band The Lions of Judah (Ha’arayot). In 1969, Dave Watts of the band The Tornados joined the group, and they traveled to England to perform at London nightclubs. There, The Lions of Judah were signed by Polydor Records, and in July 1969, they performed on “Colour Me Pop” on the BBC. After the group returned to Israel, Saban turned his focus to music promotion. Haim moved to the U.S. in 1983 and became known for composing music for children’s TV shows with Shuki Levy. The duo composed music for projects such as “Dragon Quest,” “Inspector Gadget,” “She-Ra: Princess of Power,” and “He-Man and the Masters of the Universe.” According to a 2008 article on portfolio.com, Haim was credited with composing 3,700 works at the time, but several composers had alleged a decade earlier that they had written some of that music. Ten different composers threatened to sue him for $1 million, and he stated in the article, “We settled for $10,000 a pop. They knew they had zero case. They were totally wrong.”
Business Career
In 1988, Haim founded Saban Entertainment, and he has gone on to produce more than 70 projects, including “Power Rangers,” “A.L.F.,” “V.R. Troopers,” “Sweet Valley High,” “Mystic Knights of Tir Na Nog,” and “Digimon: Digital Monsters.” In 1996, Saban Entertainment merged with Fox Children’s Network (which was owned by News Corporation) to form Fox Kids Worldwide. In 2001, Haim and News Corporation sold Fox Children’s Network to The Walt Disney Company for $5.3 billion, leaving Saban with a profit of around $1.6 billion. In 2003, Haim was the leader of a consortium that acquired a controlling stake in Kirch Media Group’s ProSiebenSat.1 Media, which grew to become the largest commercial TV broadcasting company in Germany. In 2007, Saban and the consortium sold their controlling interest in the company for 22.40 euros per share to Permira and KKR; when they acquired their controlling interest in 2003, they paid 7.5 euros per share.
In 2006, Saban Capital Group and a group of investors including Thomas H. Lee Partners and Texas Pacific Group purchased Univision for $13.7 billion. They sold a 64% stake of Univision to the investment firms Searchlight Capital Partners and ForgeLight LLC in 2020. In 2019, Haim created the Saban Music Group, and he said of the decision, “Music has always been one of my life’s greatest passions — shaping, influencing and motivating me on a daily basis. It is with great excitement that I reenter the music business — not only as a businessman but as someone who is passionate about the art, dedicated to the development of worldwide artists and wants to provide world-class entertainment.”
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Personal Life
Haim married Cheryl Lynn Flor in 1987, and they welcomed son Ness in 1989 and daughter Tanya in 1991. Cheryl is a screenwriter and producer, and Ness followed in his parents’ footsteps and became a producer as well. Saban is also stepfather to Tifanie Christun and Heidi Lenhart, Cheryl’s daughters from her marriage to Ray Lenhart. Heidi is an actress best known for starring as Jenny Garrison on the ’90s teen sitcom “California Dreams,” and Tifanie is a voice actress. Haim has consistently donated to the U.S. Democratic Party, and in 2007, he co-hosted a fundraiser for Hillary Clinton with Steven Spielberg that raised more than $850,000.
Philanthropy
Haim and Cheryl have donated nearly $47 million to Children’s Hospital Los Angeles and $11 million to the Saban Free Clinic (formerly the Los Angeles Free Clinic). In 2002, Saban provided a $13 million grant (with a promise of additional funds) to establish the Washington, D.C. think tank the Saban Center for Middle East Policy. In 2007, he donated $14 million toward the completion of the Soroka Medical Center in Israel, and the center later opened the Saban Pediatric Medical Center (2008) and the Saban Birth and Maternity Center (2011).
In 2018 the Sabans donated $50 million to the Academy of Motion Pictures Museum.
In 2019 the Sabans donated $420 million to 1,000 causes and organizations and at the same time encouraged other billionaires to follow their lead.
Haim has sponsored the Saban National Political Leadership Training Seminar in conjunction with the American-Israel Public Affairs Committee. The Saban National Political Leadership Training Seminar was dedicated to training student activists in pro-Israel advocacy to “prepare for challenges and opportunities on their campuses” and “mobilize for legislative and electoral impact during the next school year.”
Real Estate
Over time Saban purchased three lots on nearly six acres in the Beverly Park neighborhood in Beverly Hills, California. He proceeded to have a mansion, pool, and sports facilities built on the property. The article stated that the assessed value of the property was $26.7 million.