Penny Marshall Net Worth

Penny Marshall, born Carole Penny Marshall, was an American actress, director, and producer who revolutionized Hollywood and left behind an impressive financial legacy. At the time of her death in December 2018, Penny Marshall net worth was estimated at $50 million, accumulated through her groundbreaking work in television and film. This comprehensive guide explores every aspect of Marshall’s wealth, career achievements, and lasting impact on the entertainment industry.

Who Was Penny Marshall? A Brief Overview

Penny Marshall was more than just a talented entertainer—she was a pioneer who broke barriers for women in Hollywood. Best known for her role as Laverne DeFazio in the hit sitcom “Laverne & Shirley” and as the first female director to helm a film grossing over $100 million at the domestic box office with “Big” (1988), Marshall’s influence on American cinema remains profound.

Penny Marshall Biography Table

Category	Details
Full Name	Carole Penny Marshall
Date of Birth	October 15, 1943
Place of Birth	The Bronx, New York City, USA
Date of Death	December 17, 2018
Age at Death	75 years
Profession	Actress, Director, Producer
Notable Works	Laverne & Shirley, Big, A League of Their Own
Net Worth at Death	$50 Million
Nationality	American
Education	University of New Mexico
Parents	Marjorie Marshall, Anthony Marshall
Siblings	Garry Marshall, Ronny Marshall

Early Life and Education: The Foundation of Success

Childhood in the Bronx

Penny Marshall was born on October 15, 1943, in the Bronx, New York City, into a family deeply rooted in entertainment. Her father, Anthony “Tony” Marshall, was a film director and producer, while her mother, Marjorie Marshall, was a tap dance teacher who ran the Marjorie Marshall Dance School. This creative environment shaped young Penny’s future in the entertainment industry.

Growing up with siblings Garry Marshall (who became a legendary television producer and director) and Ronny Marshall (a television producer), Penny was surrounded by artistic inspiration. However, her childhood wasn’t without challenges—she attended a private school where she struggled with reading due to undiagnosed dyslexia, a condition she wouldn’t understand until later in life.

Educational Journey

Marshall initially attended the University of New Mexico, where she studied mathematics and psychology. However, her passion for performing arts led her to leave college and pursue acting. She later studied acting at various workshops in Los Angeles, including classes with renowned acting coaches. This decision to follow her artistic calling, rather than a traditional academic path, would prove instrumental in building her eventual $50 million net worth.

Career Beginnings: From Struggling Actress to Television Star

Early Acting Struggles (1960s-1970s)

Penny Marshall moved to Los Angeles in the 1960s, where she initially struggled to find substantial acting work. Her early career included:

• Small television roles in series like “The Danny Thomas Hour” and “That Girl”
• Guest appearances on “The Mary Tyler Moore Show”
• Commercials and minor film roles
• Work as a secretary to support herself between acting jobs

During this period, Marshall earned modest income, typically between $500 to $2,000 per television appearance—far from the millions she would later command.

The Breakthrough: “Laverne & Shirley” (1976-1983)

Marshall’s career trajectory changed dramatically when her brother Garry cast her in a guest role on “Happy Days” as Laverne DeFazio. The character proved so popular that ABC developed a spin-off series, “Laverne & Shirley,” which premiered on January 27, 1976.

The show became a massive hit, ranking as the most-watched American television program for the 1977-78 and 1978-79 seasons. At its peak, Marshall was earning:

• $35,000 per episode in the early seasons
• $75,000 per episode by the final seasons
• Additional income from syndication deals and merchandising

Over eight seasons and 178 episodes, “Laverne & Shirley” generated millions for Marshall and established her as a household name, significantly contributing to her growing net worth.

Directorial Career: Breaking Hollywood’s Glass Ceiling

Transition to Directing

In the mid-1980s, Penny Marshall made the bold decision to transition from acting to directing—a move that would define her legacy and substantially increase her net worth. Her brother Garry supported this transition, allowing her to direct episodes of television shows he produced.

Major Directorial Achievements

1. Jumpin’ Jack Flash (1986)

Marshall’s feature film directorial debut starred Whoopi Goldberg. While it received mixed reviews, it grossed $29.8 million domestically, proving Marshall could handle a major studio film. Her directorial fee: approximately $500,000.

2. Big (1988)

This Tom Hanks comedy became Marshall’s breakthrough as a director:

• Domestic Box Office: $151 million
• Worldwide Gross: Over $151 million
• Director’s Fee: $1-2 million plus profit participation
• Academy Award Nominations: 2 (including Best Actor for Tom Hanks)

“Big” made Marshall the first female director to helm a film that grossed over $100 million domestically—a historic achievement that opened doors for women directors in Hollywood.

3. Awakenings (1990)

Starring Robin Williams and Robert De Niro, this critically acclaimed drama:

• Box Office: $52 million domestic
• Academy Award Nominations: 3 nominations
• Director’s Fee: Estimated $2-3 million

4. A League of Their Own (1992)

Perhaps Marshall’s most beloved film, this baseball comedy-drama featured an ensemble cast including Tom Hanks, Geena Davis, and Madonna:

• Domestic Box Office: $132.4 million
• Worldwide Gross: $132.4 million
• Director’s Fee: $3-5 million plus backend points
• Cultural Impact: Preserved the history of the All-American Girls Professional Baseball League

5. Renaissance Man (1994)

• Box Office: $24 million
• Director’s Fee: $2-3 million

6. The Preacher’s Wife (1996)

Starring Denzel Washington and Whitney Houston:

• Box Office: $48.1 million
• Director’s Fee: $3-4 million

7. Riding in Cars with Boys (2001)

Her final theatrical film:

• Box Office: $35 million
• Director’s Fee: $2-3 million

Television Directing and Production

Marshall also directed episodes of numerous television series and served as executive producer on several projects, earning substantial fees:

• “According to Jim”
• “United States of Tara” (Executive Producer)
• Various made-for-TV movies

Penny Marshall Net Worth Breakdown

Primary Income Sources

Income Source	Estimated Earnings	Percentage of Total Wealth
Film Directing	$20-25 million	40-50%
Acting (Laverne & Shirley)	$8-10 million	16-20%
Television Syndication	$5-7 million	10-14%
Producer Credits	$3-5 million	6-10%
Real Estate Investments	$8-10 million	16-20%
Other Ventures	$2-4 million	4-8%

Net Worth Evolution Timeline

Year	Estimated Net Worth	Career Milestone
1976	$100,000	Laverne & Shirley begins
1983	$3 million	Laverne & Shirley ends
1988	$8 million	“Big” becomes blockbuster
1992	$20 million	“A League of Their Own” success
2000	$35 million	Continued directing work
2010	$45 million	Real estate appreciation
2018	$50 million	At time of death

Assets and Investments

Real Estate Holdings: Penny Marshall was a savvy real estate investor, owning several properties:

1. Primary Residence: A multi-million dollar home in Los Angeles, California
2. Hollywood Hills Property: Purchased in the 1980s, sold for significant profit
3. Vacation Properties: Various holdings in California

Art Collection: Marshall was an avid art collector, with a collection valued at several million dollars, including works by Andy Warhol and other prominent artists.

Memorabilia: Her collection of baseball memorabilia and sports artifacts was extensive, reflecting her passion for sports.

Comparison: Penny Marshall vs. Contemporary Directors

Director	Net Worth	Notable Achievement	Gender Barrier Broken
Penny Marshall	$50 million	First woman to direct $100M+ film	Yes (1988)
Nora Ephron	$40 million	Romantic comedy pioneer	Screenwriter-Director
Amy Heckerling	$30 million	“Fast Times” and “Clueless”	Teen film innovation
Kathryn Bigelow	$40 million	First woman to win Best Director Oscar	Yes (2010)
Nancy Meyers	$100 million	Highest-paid female director	Commercial success

Personal Life: Relationships and Family

Penny Marshall Husband: Marriages and Relationships

First Marriage: Michael Henry (1961-1963) Marshall married football player Michael Henry at age 18. They had one daughter:

• Tracy Reiner (born 1964), who became an actress and appeared in several of her mother’s films

Second Marriage: Rob Reiner (1971-1981) Marshall married actor and director Rob Reiner in 1971. The marriage lasted a decade but ended in divorce. Rob Reiner, who later became a successful director with his own substantial net worth, adopted Tracy, giving her his surname. During their marriage, Rob Reiner was establishing his acting career on “All in the Family,” while Penny was starring in “Laverne & Shirley.”

Relationship with Art Garfunkel (1980s) Marshall dated musician Art Garfunkel for several years in the 1980s. Their relationship was well-publicized but ultimately ended.

Penny Marshall Children: Her Daughter Tracy

Penny Marshall had one daughter, Tracy Reiner, from her first marriage to Michael Henry. Tracy followed in her mother’s footsteps and became an actress, appearing in several of Penny’s films including “Big,” “A League of Their Own,” and “Renaissance Man.” The mother-daughter relationship was close, and Tracy was heavily involved in her mother’s care during her final years. As Penny Marshall’s only child, Tracy inherited the majority of her mother’s $50 million estate.

Health Challenges

Throughout her life, Marshall faced several health challenges:

• Brain Cancer (2009): Diagnosed with brain and lung cancer, which she battled for nearly a decade
• Diabetes: Managed throughout her adult life
• Arthritis: Struggled with in her later years

These health issues required significant medical expenses, though her substantial net worth ensured she received top-quality care.

What Did Penny Marshall Die Of? Her Final Years and Passing

Penny Marshall Death: The Final Chapter

Penny Marshall died on December 17, 2018, at the age of 75, at her home in Hollywood Hills, California. The cause of death was complications from diabetes, which she had battled for many years. Marshall had been diagnosed with brain and lung cancer in 2009 and fought the disease courageously for nearly a decade before it went into remission. However, the long-term effects of cancer treatment, combined with her ongoing diabetes complications, ultimately led to her passing.

Her death was confirmed by her daughter Tracy Reiner, who released a statement expressing her profound loss. The entertainment industry mourned the passing of a trailblazer who had changed the landscape for women directors and left an indelible mark on American cinema. Memorial services were attended by numerous Hollywood luminaries, including her former co-stars and collaborators.

Awards and Recognition

Major Honors

Award/Honor	Year	Category
Golden Globe Nomination	1977-1981	Best Actress – Laverne & Shirley
Saturn Award	1989	Best Director – Big
Women in Film Crystal Award	1991	Excellence in Film
Hollywood Walk of Fame Star	2004	Television
Emmy Nomination	Multiple	Various categories

Cultural Impact and Legacy

Penny Marshall’s influence extended beyond her net worth:

• Paved the way for female directors in Hollywood
• Championed stories about ordinary people and underdogs
• Mentored young filmmakers and actors
• Preserved important American history through “A League of Their Own”

Social Media Presence and Digital Legacy

Social Media Following (At Time of Death)

Platform	Username	Followers
Twitter	No verified account	N/A
Instagram	No official account	N/A
Facebook	Memorial pages	Varies by page
IMDb	Penny Marshall	Profile page

Unlike modern celebrities, Marshall belonged to a generation that predated social media dominance. However, her work continues to generate significant online engagement and discussion.

Estate and Inheritance

Following Penny Marshall’s death on December 17, 2018, her estate was distributed according to her will:

Estate Distribution

• Primary Beneficiary: Daughter Tracy Reiner
• Charitable Donations: Portions allocated to arts education and cancer research
• Property Sales: Real estate holdings sold or transferred
• Art Collection: Managed by estate executors

The probate process revealed the full extent of her $50 million net worth, with assets including:

• Real property worth approximately $10-15 million
• Investment portfolios valued at $15-20 million
• Intellectual property rights and residuals
• Personal property and collections

Business Ventures Beyond Entertainment

Parkway Productions

Marshall founded Parkway Productions, her own production company, which produced several of her films and gave her greater creative control and financial returns. This venture added millions to her net worth through:

• Producer fees on her directed films
• Development deals with major studios
• Ownership stakes in projects

Commercial Endorsements

Throughout her career, Marshall participated in select commercial endorsements:

• Pepsi commercials (1970s-1980s)
• Various product placements in her films
• Voice-over work for commercials

These ventures added an estimated $1-2 million to her overall wealth.

Philanthropy and Charitable Work

Despite her substantial net worth, Penny Marshall was known for her generous philanthropy:

Key Charitable Involvements

Garry Marshall Net Worth and Family Success

Penny’s brother, Garry Marshall, was a legendary television producer, director, and writer who created iconic shows like “Happy Days,” “Laverne & Shirley,” “Mork & Mindy,” and directed films including “Pretty Woman” and “The Princess Diaries.” Garry Marshall’s net worth at the time of his death in 2016 was estimated at $50 million, similar to Penny’s wealth. The Marshall siblings represented a rare Hollywood success story where multiple family members achieved significant financial and creative success independently.

Cindy Williams Net Worth: Her “Laverne & Shirley” Co-Star

Cindy Williams, who played Shirley Feeney opposite Penny Marshall’s Laverne DeFazio, had a net worth estimated at $10 million at the time of her death in 2023. While Williams earned similar per-episode fees during “Laverne & Shirley,” her net worth was significantly lower than Marshall’s $50 million because Williams did not transition into directing and producing. This comparison highlights how Marshall’s career diversification and directorial success multiplied her earning potential beyond her acting work.

• Cancer Research: Major donor following her diagnosis
• Arts Education: Supported programs for underprivileged youth
• Women in Film: Mentored aspiring female directors
• Baseball Charities: Supported youth baseball programs
• Animal Welfare: Regular donor to animal rescue organizations

Marshall donated an estimated $3-5 million to various causes throughout her lifetime.

Financial Lessons from Penny Marshall’s Career

Key Takeaways

1. Diversification: Marshall didn’t rely solely on acting; she expanded into directing and producing
2. Taking Risks: Her transition to directing involved financial risk but paid off enormously
3. Real Estate Investment: Smart property investments significantly boosted her net worth
4. Creative Control: Founding her production company gave her ownership of her work
5. Long-term Residuals: Syndication deals from “Laverne & Shirley” provided ongoing passive income

Impact on Women in Hollywood

Penny Marshall’s $50 million net worth represents more than personal financial success—it symbolizes the breaking of economic barriers for women in Hollywood. Before Marshall, female directors were rare and poorly compensated. Her commercial success proved that women could deliver profitable films, leading to:

• Increased opportunities for female directors
• Higher salaries for women in directing positions
• Greater studio confidence in female-led projects
• Inspiration for generations of filmmakers including Greta Gerwig, Patty Jenkins, and Ava DuVernay

Also Read: Tommy King Net Worth, Age, Height, Weight, Family, Bio/Wiki, Husband

Frequently Asked Questions (FAQs)

1. What was Penny Marshall net worth at the time of her death?

Penny Marshall’s net worth was estimated at $50 million when she passed away in December 2018. This wealth was accumulated through her successful career as an actress, director, and producer, with major contributions from her work on “Laverne & Shirley” and directing blockbuster films like “Big” and “A League of Their Own.”

2. How much did Penny Marshall make from “Laverne & Shirley”?

Penny Marshall earned approximately $8-10 million from “Laverne & Shirley” throughout the show’s eight-season run. She started at $35,000 per episode and eventually earned $75,000 per episode by the final seasons. Additional income came from syndication rights and merchandising deals that continued generating revenue for decades. Her co-star Cindy Williams earned similar amounts during the show’s run.

3. Was Penny Marshall the first female director to make a $100 million movie?

Yes, Penny Marshall became the first female director to helm a film that grossed over $100 million at the domestic box office with “Big” (1988), which starred Tom Hanks. This historic achievement earned $151 million domestically and established Marshall as a bankable Hollywood director, significantly increasing her earning potential and paving the way for future female directors.

4. What was Penny Marshall’s most successful film financially?

“Big” (1988) was Penny Marshall’s most successful film, grossing $151 million domestically. However, “A League of Their Own” (1992) was also highly successful with $132.4 million at the box office and has arguably had greater cultural longevity. Both films substantially contributed to her $50 million net worth through director fees and profit participation.

5. How does Rob Reiner’s net worth compare to Penny Marshall’s?

Rob Reiner, Penny Marshall’s ex-husband, has accumulated a net worth estimated at $200 million, significantly higher than Penny’s $50 million. Rob Reiner achieved massive success as a director with films like “When Harry Met Sally,” “The Princess Bride,” “A Few Good Men,” and “Stand By Me.” While both had successful directing careers, Reiner directed more films and achieved greater commercial success over a longer period.

6. How much did Penny Marshall make per film as a director?

Penny Marshall’s directing fees evolved throughout her career. For “Big” (1988), she earned $1-2 million plus profit participation. By the 1990s, she was commanding $3-5 million per film plus backend points. Combined with profit participation from successful films, individual projects could earn her $5-10 million total depending on box office performance.

7. Who inherited Penny Marshall’s estate after her death?

Following Penny Marshall’s death in 2018, her $50 million estate was primarily left to her daughter, Tracy Reiner. Portions were also allocated to charitable causes including cancer research and arts education. Her real estate holdings were sold or transferred, and her valuable art collection was managed by estate executors. The probate process revealed extensive assets including properties, investments, and intellectual property rights.

8. How does Cindy Williams’ net worth compare to Penny Marshall’s?

Cindy Williams’ net worth was estimated at $10 million, substantially lower than Penny Marshall’s $50 million. Despite earning similar salaries during “Laverne & Shirley,” the difference in their net worth illustrates how Marshall’s transition to directing and producing multiplied her wealth. Williams continued acting in television and theater but did not pursue directing, which limited her earning potential compared to Marshall’s diversified career.

9. What did Penny Marshall die of?

Penny Marshall died from complications of diabetes on December 17, 2018, at age 75. She had battled brain and lung cancer for nearly a decade after being diagnosed in 2009, and while the cancer went into remission, the long-term effects of treatment combined with her ongoing diabetes complications ultimately led to her passing at her Hollywood Hills home.

10. How does Garry Marshall’s net worth compare to his sister Penny’s?

Garry Marshall, Penny’s brother, had a net worth estimated at $50 million at his death in 2016, equal to Penny’s wealth. Garry achieved success as a television producer creating “Happy Days” and “Laverne & Shirley,” and as a film director with hits like “Pretty Woman.” The Marshall siblings both achieved remarkable financial success, demonstrating that talent and creativity ran strong in their family.

Conclusion: The Enduring Legacy of Penny Marshall’s Success

Penny Marshall net worth of $50 million represents far more than accumulated wealth—it embodies the triumph of talent, determination, and barrier-breaking achievement. From her humble beginnings in the Bronx to becoming Hollywood’s first female director to helm a $100 million film, Marshall’s financial success mirrored her cultural impact.

Her career demonstrates that artistic excellence and commercial success need not be mutually exclusive. Through iconic television roles, groundbreaking directorial achievements, and smart financial decisions, Marshall built a fortune while simultaneously opening doors for countless women in entertainment.

Today, her films continue to entertain millions, her legacy inspires new generations of filmmakers, and her financial success serves as a blueprint for achieving both creative fulfillment and material prosperity. Penny Marshall proved that with vision, courage, and unwavering commitment to one’s craft, it’s possible to change an industry while building substantial wealth.

Her story reminds us that true success encompasses not just the money earned, but the barriers broken, the lives touched, and the lasting impact created. In every measure that matters, Penny Marshall’s legacy remains priceless.