Stephen Colbert announced that his eponymous late night talk show will be ending after 10 seasons on CBS in May 2026. The host announced the unfortunate news during Thursday's installment of the show at the Ed Sullivan Theater.
The 61-year-old has been at the helm of the series since 2015 when he succeeded David Letterman. "A major question remains: how will the show's cancellation impact Stephen's net worth? HELLO! takes a closer look at the comedian’s earnings and career highlights.
What is Stephen Colbert's net worth?
According to Celebrity Net Worth, Stephen has an impressive estimated fortune of $75 million.
In the early years of The Late Show, Stephen earned an annual salary of $6 million. In October 2019, he signed a contract extension with CBS Corp, securing his place on the network through to 2023 and boosting his annual salary to $15 million. By mid-2023, Colbert agreed to yet another three-year extension, further solidifying his role as one of late-night television’s top earners.
However, Stephen's staggering earnings aren't solely tied to his lucrative hosting contract. In addition to his work on The Late Show, he is a bestselling author, has appeared on Broadway, and has lent his voice to animated characters in hit films such as Monsters vs. Aliens.
The star first hit screens as a correspondent on Comedy Central's The Daily Show in 1998. As a writer on The Daily Show, he won three Emmys in 2004, 2005, and 2006. He hosted his spinoff show The Colbert Report from October 2005 to December 2014.
The announcement
"Before we start the show, I want you to know something that I found out just last night," Stephen said during his opening monologue. "Next year will be our last season. The network will be ending the Late Show in May."
"It's not just the end of our show, but it's the end of The Late Show on CBS. I'm not being replaced," he added. "This is all just going away. And I do want to say that the folks at CBS have been great partners."
Stephen continued: "I am extraordinarily, deeply grateful to the 200 people who work here. We get to do this show. We get to do this show for each other every day, all day, and I've had the pleasure and the responsibility of sharing what we do every day with you in front of this camera for the last 10 years.
"And let me tell you, it is a fantastic job. I wish somebody else was getting it, and it's a job that I'm looking forward to doing with this usual gang of idiots for another 10 months. It's gonna be fun."
In a statement from CBS shared with PEOPLE, the network said, "This is purely a financial decision against a challenging backdrop in late night. It is not related in any way to the show’s performance, content or other matters happening at Paramount."
"Our admiration, affection, and respect for the talents of Stephen Colbert and his incredible team made this agonizing decision even more difficult. Stephen has taken CBS late night by storm with cutting-edge comedy, a must-watch monologue and interviews with leaders in entertainment, politics, news and newsmakers across all areas," the statement read.
"The show has been #1 in late night for nine straight seasons; Stephen's comedy resonates daily across digital and social media; and the broadcast is a staple of the nation’s zeitgeist."