F. Scott Fitzgerald's Net Worth: A Literary Legend

F. Scott Fitzgerald, the iconic author of The Great Gatsby and a leading figure of the Jazz Age, left an indelible mark on American literature. While his literary contributions are widely celebrated, his financial life tells a different story. This article explores F. Scott Fitzgerald's net worth, examining the sources of his income, his spending habits, and the financial challenges he faced throughout his life.

Early Life and Inheritance

Born into a middle-class family in St. Paul, Minnesota, in 1896, Fitzgerald initially enjoyed a comfortable upbringing, thanks to his mother's inheritance. This early financial security allowed him to attend prestigious schools, including Princeton University, where he began to cultivate his literary ambitions. However, he did not graduate. This background shaped his understanding of wealth and class, themes that would heavily influence his writing.

Literary Success and Income

Fitzgerald's breakthrough came with the publication of This Side of Paradise in 1920, which became an instant success and catapulted him to literary fame. The novel sold over 40,000 copies in its first year, earning him significant royalties. Following this triumph, he published The Beautiful and Damned (1922) and various short stories, solidifying his reputation and income. It is estimated that, at the peak of his career in the 1920s, Fitzgerald earned the equivalent of $400,000 per year in today's money.

Sources of Income:

• Novel Royalties: Sales of his novels, particularly This Side of Paradise and The Great Gatsby, contributed significantly to his income.
• Short Stories: Fitzgerald was a prolific short story writer, publishing in magazines such as The Saturday Evening Post and Esquire. These stories were a reliable source of income.
• Screenwriting: In the late 1930s, Fitzgerald worked as a screenwriter in Hollywood, earning a substantial salary, though he often found the work creatively unsatisfying.

Extravagant Spending Habits

Despite his literary success and considerable income, Fitzgerald and his wife, Zelda, were notorious for their extravagant lifestyle. They lived lavishly, spending money on luxurious homes, travel, parties, and expensive clothing. This lifestyle often outpaced his earnings, leading to persistent financial difficulties.

Key Spending Habits:

• Luxurious Living: The Fitzgeralds rented expensive houses in Long Island, New York, and the French Riviera, reflecting their desire to live among the wealthy elite.
• Travel and Entertainment: They frequently traveled to Europe and indulged in lavish parties, often spending beyond their means.
• Zelda's Medical Expenses: Zelda's mental health struggles and institutionalization incurred significant medical expenses, adding to their financial strain.

Financial Struggles and Debt

Throughout his life, Fitzgerald struggled with debt. Despite earning substantial sums, his overspending and Zelda's medical bills created a constant financial burden. He often borrowed money from his agent, editor, and friends to stay afloat. The Great Depression further exacerbated his financial woes, as book sales declined and opportunities for screenwriting became scarce.

Later Years and Death

In his later years, Fitzgerald's health deteriorated due to his heavy drinking and stress. He continued to write, but his work did not achieve the same level of success as his earlier novels. At the time of his death in 1940 at the age of 44, Fitzgerald's net worth was considerably low, and he was deeply in debt. His literary estate, however, would later generate substantial income for his heirs.

F. Scott Fitzgerald's Legacy

F. Scott Fitzgerald's financial life was a stark contrast to the glamorous world he depicted in his novels. While he achieved literary fame and earned a significant income, his extravagant spending habits and personal challenges led to persistent financial struggles. Today, Fitzgerald's works continue to be celebrated, offering insights into the complexities of wealth, class, and the American Dream.

Explore Further: To delve deeper into F. Scott Fitzgerald's life and works, consider visiting reputable literary websites or reading biographies such as Scott Fitzgerald: A Life in Letters, edited by Matthew J. Bruccoli.