What is your favorite chef worth a year?
Last week Forbes released a list of the 10 top-earning celebrity chefs. Topping the list was "chef" Rachael Ray who makes $18 million a year. Here is the run down.
Rachael Ray, $18 million
Wolfgang Puck, $16 million
Gordon Ramsay, $7.5 million
Nobuyuki Matsuhisa, $5 million
Alain Ducasse, $5 million
Paula Deen, $4.5 million
Mario Batali, $3 million
Tom Colicchio, $2 million
Bobby Flay, $1.5 million
Anthony Bourdain, $1.5 million
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Something just doesn't seem right here.....
Why is rachael ray even on this list..she should be on the same list as Paris Hilton. Isn't that the list for people who have no god given talent but still are hugely popular & make millions of dollars!?
I would think that Puck makes more than her..what with his own line of food & pizzas.
Flay only 1.5? What about all of his endorsements & his own line of cookware?
Something is way off on that list.
Rachel number one, I love it. I can just see Rachel Ray haters' heads exploding all across the landscape. There is a huge difference between Rach and Paris Hilton. There may be some debate as to her level of talent, (whatever she has works for her to the tune of 18 mil), but she has always and still does work her rear off. Paris Hilton was born into money and so called good looks. I'm no huge fan of RR, in fact she drives me nuts, (It's not a stew or a soup, its a stoop, get it hee hee), but my wife likes it and I love my wife so I tolerate her. Whatever she has, she has a certain IT that people in the business love, and it translates into millions of fans, and dollars.
Rachael Ray is a TV personality who cooks. and yes, she's also a cookbook author. but a chef? hardly. and ironically, she'll be the first to tell you that.
rachel ray is a tv personality. she's fielding three concurrent shows according to my not-so-reliable/interested count.
she's not a chef. she says so to anyone who will listen. she is, however, a hard worker. indefatigable.
i admire her work ethic. $18 million? she worked her way up.
Chipper indeed. I'm sure we"ll hear from others that are more versed in this field. Just looking at menu prices, and the number of meals served, I'm guessing the gross is substantial. Having said that, the costs of operating are sure to be staggering, food prices, rent, salaries, insurance, etc. I don't think these celebrity chefs have made that much in restaurants, I'd bet most come from outside interests. As for Emeril, maybe his food network gig getting canceled hurt him, although he was picked up by another network, probably for less money. Tom Collichio is my favorite on that list.
re: James Cristinian
I don't know much about the love/hate RR divide given that I've never really even watched a full episode of her show. (No telly; I rely on the kindness of my buddies and airplane trips for my Food Network fix.) Is she really witchy behind the scenes or something?
Tom serves decent food (Craft), but I don't really find him very lovable on Top Chef. Why's he your favorite?
If they were sole proprietorships they'd likely be a good haul. Bourdain was a wage slave at Les Halles, not owner. And Batali & Flay are just partners in these ventures, so they get a cut, but it's a far cry from the whole pie. Batali partners with Joe Bastianich, Lidia's son and Flay partners with Laurence Kretchmer. As general partners they likely bring in investors on each project. While the restaurants eventual create a nice revenue stream costs for opening are immense and it can take well over a couple of years to break even. I have friends who have invested in "name" restaurants in the past and ended up losing everything because the general partners reinvested their money into improvements. So even though the house was packed for years, nobody got a dime out and the place folded after about five years.
However, for all the "celebrity" chefs, this is what gives them their street cred and lets them expand into the real money fields.
really, really interesting, ferret -- thanks!
so most restaurants run as general partnerships (and not as, say, LLCs)? is anything run as a public company with shareholders?
it seems like investors could insist on being paid a nice dividend before money went back into improvements...
This list has nothing to do with restaurant sales.
The big money is in endorsements, products, TV shows, etc.
It has nothing to do with cooking skills either.
Ron Popeil of Ronco Fame (Chop-O-Matic, Ginsu knives, Rotisserie oven) made tens of millions before selling his stake for $50 million in 2005.
That pales in comparison to George Forman, who has made $150 million for having his name on those little grills (100 million+ sold).
And rapper 50 Cent made $400 million for his 10% share of the water company sold to Coca Cola.
Cooking talent not required!