After months of preparations, speculations and controversies, the 88th Academy Awards was held in Hollywood, Calif., on Sunday, Feb. 28. As expected, the 2016 Oscars was filled with famous faces, glamorous dresses and suits, surprise wins and plenty of unforgettable moments.
Host Chris Rock tackled head on the #OscarsSoWhite controversy that plagued the awards season as millions of fans in more than 225 countries watched live.
The awards season is filled with elaborate events and the Oscars is the culmination of them all. Find out how much it costs to put on this annual celebration, the average amount attendees spend to prepare for the fête, the value of Oscar nominees’ swag bags and the net worths of the night’s biggest winners.
Cost of the Oscars and Attending the Event
The final price tag of the 88th Academy Awards has yet to be determined, but previous financial statements released by the Academy of Motion Picture Arts and Sciences revealed costs reached $42.7 million in 2015 and $41.9 million in 2014.
But the cost of the Oscars is worth the investment; the Academy earned more than $109 million from the Oscars in 2015 and more than $97 million in 2014. By far, the biggest portion of revenues come from the $75 million Walt Disney Co. pays each year for rights to broadcast the Oscars on ABC.
While the Oscars rack in money each year, attendees are known to pay big bucks to look their finest for the red carpet.
The average female attendee spends $1 million to $2 million on her look, while A-listers can spend $10 million or more. First-time attendees are more frugal, debuting in ensembles worth approximately $260,000. While male attendees don’t endure nearly the same amount of expenses as their female counterparts, the total price tag for their Oscar looks can hit upwards of $270,000.
Academy Awards Nominees’ $220,000 Swag Bag
While most Oscar nominees went home without the coveted gold statue, none of them left empty handed. This year, Academy Awards nominees received an “Everyone Wins” swag bag worth more than $220,000. The bag hasn’t been an official part of the Oscars since 2006, when the Academy was put under heightened scrutiny by the IRS for the pricey, tax-free handouts.
Los Angeles-based marketing firm Distinctive Assets now compiles the gift bags, which gives interested companies the chance to market their products and services to some of the biggest stars in the world. Among this year’s gifts are:
- 10-day paid trip to Israel, valued at $55,000
- Donation of 10,000 free meals to the Oscar nominee’s choice of animal shelter or rescue
- $250 Haze Vaporizer
Best Actor — Leonardo DiCaprio Net Worth: $245 Million
At long last, Leonardo DiCaprio has won an Oscar. His work as the 1820s fur trapper Hugh Glass in “The Revenant” earned him the honor. The actor endured grueling working conditions to put on his Academy Award-winning performance, including eating raw bison liver, braving temperatures that reached 40 below zero and swimming in freezing rivers.
The film was a smash success, bringing in over $404 million at box offices worldwide — far exceeding its $135 million budget.
Leonardo DiCaprio’s net worth is $245 million, according to Celebrity Net Worth. He has earned at least $20 million on films he’s worked on in recent years, including successes “The Wolf of Wall Street,” “Inception” and “The Departed.”
An avid environmentalist — even speaking on climate change in his Oscar acceptance speech — the actor founded the Leonardo DiCaprio Foundation in 1998 to help protect wild lands. In July 2015, his foundation donated $15 million to various environmental causes and followed it up with another $15 million donation in Jan. 2016.
Best Actress — Brie Larson Net Worth: $10 Million
Brie Larson won her first Oscar this year on the back of her first ever nomination for “Room.” In the film, Larson plays Joy, a mother who was abducted as a teen and imprisoned in a backyard shed with her son, Jack. The harrowing film has earned over $23.58 million worldwide in box offices.
The 26-year-old actress has seemingly risen to fame overnight, starring most recently in “The Gambler” and “Trainwreck.” Her nearly 20-year career dates back to 1998, when she appeared in sketches on “The Tonight Show with Jay Leno.”
Brie Larson’s net worth is currently $10 million, but with an Oscar to her name and a number of projects in the works for 2016 and 2017 — including “The Glass Castle,” “Free Fire,” “Basmati Blues” and “Kong: Skull Island” — it’s sure to rise in the coming years.
Best Director — Alejandro González Iñárritu Net Worth: $20 Million
Fresh off his 2015 win for “Birdman,” “The Revenant” director Alejandro González Iñárritu won Best Director at the 2016 Oscars, making him the first person in 65 years to win two consecutive Oscars.
In total, Iñárritu’s films have earned more than $749 million worldwide at the box office. In addition to “The Revenant” and “Birdman,” some of his notable works include “Babel” and “21 Grams.”
His next big film project has yet to be announced, but the Oscar-winning director is currently the executive producer of the television series “The One Percent.” Alejandro Iñárritu’s net worth is $20 million.