Net Worth Ranker
What Was Toni Morrison’s Net Worth?
At the time of her passing, Toni Morrison, a celebrated American novelist, editor, and professor, had a net worth of $20 million [1]. This financial standing reflected her successful career as an author, with earnings derived from book sales, royalties, and academic positions. Morrison’s literary contributions, which prominently featured the experiences of Black Americans and the impact of racism in the United States, led to numerous awards, including the Nobel Prize in Literature, the Presidential Medal of Freedom, and the PEN/Saul Bellow Award for Achievement in American Fiction [1].
Literary Success and Earnings
Morrison’s career took off with the publication of her first novel, “The Bluest Eye,” in 1970 [1]. Although specific initial sales figures for this debut novel aren’t available, it established her as a significant voice in contemporary literature. Her 1973 novel, “Sula,” garnered her a nomination for the National Book Award, further solidifying her reputation [1]. While the exact financial gain from this nomination is unknown, it undoubtedly contributed to increased book sales and recognition.
A major breakthrough came in 1977 when “Song of Solomon” was selected by the Book-of-the-Month Club [1]. This was the first novel by a Black writer in nearly 40 years to receive this distinction, significantly boosting its readership and sales. The novel also won the National Book Critics Circle Award, adding to Morrison’s prestige and likely increasing her earnings [1]. Unfortunately, specific sales numbers or royalty details from this period are not publicly available. Nevertheless, the recognition and widespread readership undoubtedly contributed substantially to her financial success.
The publication of “Beloved” in 1987 marked another high point in Morrison’s career [1]. The novel won the American Book Award and the Pulitzer Prize for Fiction, cementing her status as a literary giant [1]. “Beloved” became a bestseller, remaining on the list for 25 weeks [1]. In 1998, it was adapted into a film starring Danny Glover and Oprah Winfrey, further expanding its reach and influence [1]. While the financial details of the film adaptation, including any royalties or fees Morrison received, are not publicly known, such adaptations typically result in substantial income for the original author.
Morrison received the Nobel Prize in Literature in 1993, a momentous achievement that brought international acclaim and likely boosted sales of her books worldwide [1]. Nobel laureates also receive a monetary award, which in 1993 amounted to approximately $825,000 [1]. In 2000, “The Bluest Eye” was selected for Oprah’s Book Club, leading to a surge in sales and renewed interest in her earlier work [1]. Selections for Oprah’s Book Club typically result in millions of additional book sales, significantly increasing an author’s earnings. In 2012, Morrison was honored with the Presidential Medal of Freedom, a prestigious award that further solidified her legacy and likely contributed to continued book sales and recognition [1].
Real Estate Holdings
In 2014, Toni Morrison purchased an apartment in the Tribeca neighborhood of New York City for $3.8 million [1]. After her death, in October 2020, her estate listed the apartment for $4.75 million, indicating a potential appreciation in value [1]. In 2012, she also sold a NYC apartment for an undisclosed amount [1]. These real estate transactions demonstrate Morrison’s investment strategies and provide insight into the composition of her assets.
In the late 1970s, Morrison acquired a waterfront property in Grand View-on-Hudson, a town located approximately 25 miles north of New York City [1]. She initially paid $120,000 for the property, which is equivalent to around $500,000 in today’s dollars [1]. The original structure on the property was destroyed by a fire in the early 1990s, after which Morrison rebuilt a larger estate [1]. This property was inherited by her son following her death [1]. The significant investment in rebuilding the estate underscores its importance to Morrison and its contribution to her overall net worth.
Academic and Editorial Career
Morrison’s career in academia also contributed to her financial stability [1]. She taught English at Texas Southern University and Howard University before becoming an editor at Random House in the mid-1960s [1]. As the first black woman senior editor in Random House’s fiction department, she played a crucial role in bringing black authors to mainstream attention [1]. While specific salary details from her time at Random House are not publicly available, senior editors in major publishing houses typically earn substantial salaries. From 1989 until her retirement in 2006, Morrison held the Robert F. Goheen Chair in the Humanities at Princeton University [1]. As a tenured professor at a prestigious university, she would have earned a significant salary and benefits, further contributing to her overall net worth. While the exact salary for this position isn’t public knowledge, endowed professorships at top universities often come with salaries in the high six figures.
Other Literary Works
In addition to her novels, Morrison authored the play “Dreaming Emmett” in 1986, which was performed at the State University of New York at Albany [1]. While the financial gains from this play are not publicly documented, such productions can generate royalties and performance fees for the playwright. She also released the non-fiction book “Playing in the Dark: Whiteness and the Literary Imagination” in 1992, along with other non-fiction works such as “Remember: The Journey to School Integration” [1]. Sales of these non-fiction works would have added to her overall income. Morrison also co-wrote several children’s books with her son Slade, including “The Big Box,” “The Book of Mean People,” “Peeny Butter Fudge,” and “Little Cloud and Lady Wind” [1]. While the specific earnings from these children’s books are not publicly available, they would have provided an additional stream of income and royalties.
