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Elf Without Jingles

Santa Claus' Net Worth

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Elf Without Jingles

Santa Claus' Net Worth

From Bankrate.com | Posted: 03-21-2017

EXCERPT:

Santa Claus' famous single-day work schedule and company work ethic are enviable. Whether you believe (and we hope you do!), some accountants wonder about the secret behind Santa's business model.

Aside from those hefty paychecks from all those shopping mall hours he puts in, Father Christmas has a few other sources of income, too.

We now take a look at Santa's balance sheet, and lay out just how he makes the most of his finances.

Since the 1950's, Kris Kringle has found gainful employment at shopping malls across the United States, grinning for the cameras while hugging everything from screaming tots to drooling dogs. But the photography companies pocket the profits from those pricey picture packages, and the fact is that Santa is essentially an hourly employee.

Let's say, then, that Santa reports for work at a majority of these locations, beginning on November 14th, which would give him 40 days of employment. Most malls extend their shopping hours during December, so it's a safe bet that he's on duty 10 hours per day, even with two meal breaks. If he's clocking in and out of more than 1000 enclosed malls, his time card would record some 400,000 hours.

That means that Kringle would bank around $2.9 million at the federal minimum wage of $7.25. However, let's say that the Jolly One capitalized on his many years of experience (not to mention a real beard), and negotiated an average salary of around $10,000 per year with the photography vendors. That would mean that in reality, he'd be bringing home $10,000,000.

Once the Christmas season ends, Santa makes his appearances at award nights, conventions, birthday parties and casinos throughout the year, commanding hefty fees between $1200 and $10,000 per job. A couple of these gigs each month would pull in roughly $224,000 in extra cash throughout the year.

Unfortunately, he's missing out on the real cash cow, says Los Angeles-based attorney Steven Weinberg. Santa, Weinberg explains, has no claim to any royalty income. For starters, Santa's early history is a bit too murky for a lawyer to establish intellectual property rights to the roly-poly, eye-twinkling, gift-giving image.

Haddon Sundblom created today's iconic Santa look for an advertising campaign for Coca-Cola in 1931, which means that the soft-drink giant actually has a stronger case to get the money.

"And assuming that we could make the case that Santa owns his reputation, he's really given it all up to the public domain," says Weinberg. "In intellectual property law, if you don't exercise control over other people's uses of your reputation, you essentially end up abandoning your right to claim any royalties." Santa's failure, then, to send cease-and-desist letters to Tim Allen and Disney over the actor's portrayal of him in the Mouse Factory's Santa Clause Trilogy was the ultimate mistake.

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Santa Johnny Boy
4 hours ago, Elf Without Jingles said:

 

Once the Christmas season ends, Santa makes his appearances at award nights, conventions, birthday parties and casinos throughout the year, commanding hefty fees between $1200 and $10,000 per job. A couple of these gigs each month would pull in roughly $224,000 in extra cash throughout the year.

 

I need to step things up a bit - I've fallen WAY short of this mark!

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Santa Ross
16 hours ago, Santa Johnny Boy said:

I need to step things up a bit - I've fallen WAY short of this mark!

Heck with these figures I haven't even left the starting block...:santa_tongue:

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