Mike Stoller Net Worth

What Is Mike Stoller's Net Worth?

Mike Stoller is an American songwriter and producer who has a net worth of $200 million. Mike Stoller earned fortune and fame as one-half of the famed writing and producing duo Leiber and Stoller with Jerry Leiber. Mike and Jerry worked together at a record store when they discovered a mutual passion for music. The two soon began writing songs together. Charles Brown recorded the duo's first hit, 1952's "Hard Times." Seven years later, "Kansas City" topped the charts when it was performed by Wilbert Harrison. The two even penned the Elvis Presley classic "Hound Dog."

In 1953, Stoller and Leiber created Spark Records, which was later acquired by Atlantic. The two continued working, penning hits such as "Yakety Yak," "Searchin'," "Stand By Me," and "On Broadway." About a decade later, they formed their second label, Red Bird Records, which they also eventually sold. Other top Leiber and Stoller hits include "There Goes My Baby," "Smokey Joe's Café," "Poison Ivy," "Charlie Brown," "Love Potion No. 9," and "Spanish Harlem."

Stoller and Leiber won several Grammy Awards, including one for 1969's "Is That All There Is?" and a second for 1995's Broadway production album of "Smokey Joe's Café." The duo was inducted into the Rock and Roll Hall of Fame in 1987, two years after earning a spot in the Songwriters Hall of Fame. They have a star on the Hollywood Walk of Fame and took home the National Academy of Songwriters Lifetime Achievement Award in 1996.

Mike Stoller Royalties

Their incredibly valuable song catalog continues to produce millions of dollars in royalties. Between 1961 and 2012 alone, "Stand by Me" produced an estimated $30 million in royalties, which were split by Stoller, Leiber, and artist Ben E. King. It is one of the 10 most valuable songs of all time in terms of royalties. The value of the Leiber-Stoller song catalog and royalty stream is likely in the $100+ million range if it ever hits the auction block.

Early Life

Mike Stoller was born on March 11, 1933, in Queens, New York. He comes from a Jewish family. His family later moved to Los Angeles, California, where he attended Belmont High School. After graduating, Mike enrolled at Los Angeles City College. He met Jerry Leiber during this time while Stoller was working at a recorded store on Fairfax Avenue in Los Angeles. Mike enjoyed playing the piano from a young age and was a musical child and youth. Stoller and Leiber shared a love of rhythm and blues and began writing music together while in their late teens.

Career

In 1950, blues singer Jimmy Witherspoon recorded and performed Leiber and Stoller's first commercial song, "Real Ugly Woman." They had their first hit with "Hard Times," as recorded by Charles Brown in 1952. Another one of their songs, "Kansas City," was recorded by blues singer Little Willie Littlefield the same year. The song went on to become a pop hit in 1959 for another singer, Wilbert Harrison. They also worked with blues singer Big Mama Thornton, writing the song "Hound Dog" for her in 1952, which became a hit for her in 1953.

Leiber and Stoller decided to form a record label in 1954 along with their mentor, Lester Still. They called the company Spark Records. The label was later bought by Atlantic Records, which subsequently hired both Leiber and Stoller to work as producers for their artists, as well as for other labels. The arrangement of the deal essentially allowed Leiber and Stoller to become the first independent record producers ever. While working at Atlantic, the duo had success in helping the Drifters revitalize their career. They also worked with a number of other artists during this time and wrote songs like "Charlie Brown," "Searchin'," "Yakety Yak," and "Stand By Me."

Around this time, one of Leiber and Stoller's previous songs, "Hound Dog," which was originally written for Big Mama Thornton, became an even greater hit when rerecorded by Elvis Presley. Presley's version was more in a rock and roll rather than blues style. The song became a sensation nationwide, especially after Presley's televised recording of the song drew widespread excitement due to his dancing, which involved swaying hips and bumping and grinding. Realizing they may have a successful partnership on their hands, Soller and Leiber began collaborating with Presley in the years that followed through a lucrative partnership. This partnership led to the creation of a number of hit songs for Elvis, some of which were used in Presley's films like "Loving You," "Jailhouse Rock," and "King Creole."

Leiber and Stoller formed a new company, Daisy Records, at the beginning of the 1960s. They also decided to leave Atlantic Records and began working instead with United Artists Records. This new partnership produced songs for groups like Jay and the Americans, the Exciters, and the Clovers. While they would form a few other record companies over the years, Stoller and Leiber ultimately enjoyed working as independent producers and songwriters as it gave them more flexibility and freedom. In 1969, they worked with singer Peggy Lee to write and produce the song "Is That All There Is?" For her recording of this track, Lee won the Best Female Pop Vocal award at the Grammy Awards. They later worked with Lee again in 1975 when they recorded the album "Mirrors" with her.

Stoller and Leiber's last major hit was "Stuck in the Middle With You," which was recorded by Stealers Wheel. In the late 1970s, they were employed by A&M Records to work with Elkie Brooks. They wrote and produced the artist's album, and Brooks went on to have a successful career in Europe. In 1979, they again worked with Brooks on the album "Live and Learn."

While the duo continued working throughout the 1980s, they did not experience as great success as in the years prior. In 1982, they wrote the song "Ruby Baby," which was recorded by Donald Fagen. Michael McDonald also released the track "I Keep Forgetting (Every Time You're Near)" the same year, which was inspired by the duo's "I Keep Forgettin'" track from years earlier.

Both Stoller and Leiber have received recognition over the years for their contribution to the recording arts industry. In 1985, they were inducted into the Songwriters Hall of Fame. Two years later, they were inducted into the Rock & Roll Hall of Fame. They received a star on the Hollywood Walk of Fame in 1994. Perhaps one of their greatest honors, they were given the National Academy of Songwriters Lifetime Achievement Award in 1996.

Personal Life

Mike has been married twice. He originally married Meryl Stoller, but the two decided to divorce. In 1970, he married his second wife, Corky Hale. The couple has been together ever since. Stoller continues giving interviews about his career and the experience of working with Jerry Leiber as recently as 2022.