Peter Chernin Biography & Net Worth

Peter Chernin Biography & Net Worth

Peter Chernin is a notable American businessman and investor who is probably most famous for being the chairman and chief executive officer of The Chernin Group (TCG), a corporation he founded in 2010. The Chernin Group operates, manages, and invests in businesses in the technology, media, and entertainment sectors. Specifically, his company focuses on three areas: capitalizing on calculated business opportunities in emerging markets, developing premium content for television and film, and making investments in media and technology companies in the United States. Here’s Peter Chernin’s biography and exclusive details of his businesses, financial data, personal life, and many interesting and intriguing facts about this prominent personality.

Peter Chernin’s Early Life

Peter Chernin was born on May 29, 1951 in Harrison, New York, United States to Herbert Chernin and Mary Townsend. Although his father was Jewish, Peter was raised Unitarian. He attended the University of California, Berkeley, graduating with a Bachelor of Arts degree in English Literature.

Peter Chernin’s Career

In 1989, Peter started working at Fox and remained there briefly before moving on to Lorimar Film Entertainment where he serves as the company’s President and Chief Operating Officer. Afterwards, he joined the David Gerber Company as vice president of Development and Product. He also worked for Showtime/The Movie Channel where he served as the executive vice president of programming & marketing.

He also found a career in publishing as he became the associate publicity director of St. Martin’s Press, before moving on to work with Warner Books as an editor.

Peter Chernin also worked with News Corporation, serving as its president and chief operating officer. He also served Fox Group as the Chairman and chief executive officer from 1996 to 2009. He was saddled with the responsibility of overseeing the diversified operation in five continents of the world, and it included the making and circulation of television and film programming. During his tenure with the company that lasted twenty years, he gained an immense status as an executive, and was famed to have a unique mastery of the corporate as well as the creative sides of the entertainment business. He also managed the Twentieth Century Fox Film Entertainment. His leadership at Twentieth Century Fox Film Entertainment was appreciated and famously recognized for the production of two top-grossing movies which are Titanic and Avatar.

There was also an experienced explosive growth at The News Corporation cable network during his tenure, and it rose from zero to 400 million cable subscribers within ten years. However, after all of his accomplishments at the company, it was widely circulated in 2019 that he was going to quit his role at News Corporation and this would happen at the expiration of his contract. It was also whispered that he would be replaced by Rupert Murdoch’s youngest son, James Murdoch, who was the media executive of the company at that time. However, Carey succeeded him at that position on June 4, 2009.

In October 2010, Peter was invited by Tribune and was offered a position to occupy the office of Chairman of the board of chief executive officer, but he rejected the offer, stating that he was not interested in any opportunity of such nature.

After he left News Corporation, Peter Chernin founded The Chernin Group (TCG), a corporation which operates, manages, and invests in businesses in the technology, media, and entertainment sectors. Specifically, his company focuses on three areas: capitalizing on calculated business opportunities in emerging markets, developing premium content for television and film, and making investments in media and technology companies in the United States. He has been the chairman and chief executive officer of the company which he established in 2010. The Chernin Group’s current biggest asset is the production company Chernin Entertainment which has a majority stake in the CA Media.

Peter has also made huge investments in many technology and media companies in the United States, including popular companies like Barstool Sports, Flipboard, Pandora, FullScreen, and Tumblr.

Awards & Achievements

Peter has been able to ensure regular inflow of profits in the companies he has led since he started his professional life. He has led The Chernin Group for many years as its chairman and chief executive officer, and has also worked for many notable companies including Fox and News Corp., leaving behind his trademark signature of success and doing a lot of remarkable works for the companies.

Personal Life & Family

Mr. Chernin is one of those big names that would rather leave his personal life private than get fully involved in the public. Not much is known about this aspect of his life, but we do know that he has been in matrimonial union with Megan since the 1980s, and they are the proud parents of three children.

Peter Chernin Net Worth

Peter’s experience and intelligence helped him secure top positions at the different organizations he worked. In addition to being very talented, he worked had throughout most part of his career, taking up strategic positions at several companies before establishing his own The Chernin Group. Today, Peter Chernin net worth is more than $450 million, and he has earned a vast majority of his wealth from his numerous investments in technology and media companies. He earned fat paychecks and salaries as the chief executive officer and chairman of Fox, and now continues to enjoy inflow of income from his own Chernin Entertainment Company which has invested in several hit films that include the likes of Oblivion, Planet of the Apes, The Heat, and many others more. He also sits on the Boards of American Express, Twitter, and Pandora.

Peter’s The Chernin Group, of which he is the chairman and chief executive officer, invests in and manages businesses in the media. His company once bid $500 million for the popular streaming video website Hulu. In 2016, The Chernin Group purchased a 50% stake in Barstool Sports for around $15 million, and by 2018 Peter had invested approximately $25 million to increase the stake to 60%. However, his stake in Barstool was reduced from 60% to 36% when Penn National Gaming purchased a 36% stake in Barstool Sports at a valuation of $450 million in January 2020.