For about a decade, Milch reportedly lost $25 million at the Santa Anita horse racetrack. The impact on his family was severe—they sold off nearly $13 million worth of property and were forced to live in a modest rented home. To manage expenses, his wife gave him only $40 a week in cash allowance. Perhaps most shockingly, Milch’s wife was kept completely unaware of the extent of his gambling losses for years, a fact revealed during the legal battle with his business managers.
Recognition and Success in Television
Despite these financial setbacks, David Milch’s creative talents have earned him high acclaim. He has won multiple Primetime Emmy Awards for his work on Hill Street Blues and NYPD Blue , including awards for Outstanding Writing and Outstanding Drama Series. His contributions to television were further honored in 2006 when he received a star on the Hollywood Walk of Fame at 6840 Hollywood Blvd.
David Milch (Image via Getty)
Milch’s passion for horse racing extended beyond gambling; he also owned thoroughbred racehorses. His horses achieved notable victories, winning prestigious events like the 1992 Breeders’ Cup Juvenile and the 2001 Breeders’ Cup Mile.
The Hidden Costs of Gambling
Milch’s gambling addiction had deep roots and serious consequences. In early 2011, his wife, Rita, was summoned to a meeting with the family’s business management firm, Nigro, Karlin, Segal, Feldstein, and Bolno, LLP (NKSFB). She was perplexed when asked to transfer the mortgage titles to her name without a clear explanation. When she pressed for answers, the truth surfaced: David had been withdrawing large sums of money and writing numerous checks to the racetrack.
This revelation came after years of secrecy, during which Milch’s gambling addiction went unchecked despite his wife’s attempts to understand their financial situation. His obsession included a focus on handicapping—developing betting strategies to improve his odds. This passion inspired the creation of the television series Luck , which centered on horse racing and gambling.
Legal Battles and Financial Fallout
In 2016, the extent of Milch’s losses became public through a lawsuit filed by Rita against their management company, accusing them of withholding crucial financial information. The couple faced debts totaling $17 million. To tackle these liabilities, they arranged repayment plans with the IRS and sold multiple properties, including a $4.8 million residence in Brentwood, California, and an $8.9 million estate in Martha’s Vineyard, Massachusetts.
Rita took active steps to reduce debt, hosting garage sales and selling personal valuables such as art and jewelry. The family’s lifestyle drastically changed, with David living under a tight weekly cash allowance and the couple downsizing to more modest accommodations.
David Milch (Image via Getty)
Roots and Early Academic Life
Born on March 23, 1945, in Buffalo, New York, David Milch grew up in a Jewish household. Excelling academically, he attended Yale University, graduating summa cum laude with a Bachelor of Arts degree. At Yale, he earned the Tinker Prize in English and was inducted into Phi Beta Kappa, a prestigious honor society. He also joined the Delta Kappa Epsilon fraternity, where he was a contemporary of future U.S. President George W. Bush.
Milch continued his studies at the University of Iowa, completing a Master of Fine Arts at the Iowa Writers’ Workshop with distinction. To avoid the Vietnam War draft, he briefly enrolled at Yale Law School but did not complete the program.
Transition to Television Writing
David Milch’s professional writing career began in academia as a teacher and lecturer in English literature at Yale. Collaborating with prominent literary figures like Robert Penn Warren and Cleanth Brooks, he co-authored several college textbooks. His early writings appeared in respected literary journals, including The Atlantic Monthly and the Southern Review .
Breakthrough with Hill Street Blues
In 1982, Milch’s career took a dramatic turn when he penned a script for Hill Street Blues . The script became the episode titled “Trial by Fury” and marked his entry into television writing. Over five seasons, Milch climbed the ranks from executive story editor to executive producer. His work on the show earned him two Writers Guild Awards, a Humanitas Prize, and a Primetime Emmy.
In 1987, Milch co-created Beverly Hills Buntz , a comedy-drama spin-off of Hill Street Blues . The series ran for a short time but helped solidify his reputation as a creative force in TV.
Expanding His Television Portfolio
The early 1990s saw Milch further broaden his horizons. He co-created Capital News with Christian Williams, focusing on the hectic world of a Washington, D.C., newspaper editorial staff. Though the show lasted less than a year, it added to his diverse resume. Milch also contributed to an episode of L.A. Law in 1992.
David Milch (Image via Getty)
NYPD Blue: A Defining Success
Perhaps Milch’s most significant achievement was the creation of NYPD Blue alongside Steven Bochco in 1993. The police procedural drama became a massive hit, airing for 12 years. Milch was the executive director for seven seasons and earned three Primetime Emmy Awards for his work. During this period, he also co-created Brooklyn South and Total Security , although these series had shorter runs.
Creating Deadwood and Other Projects
In 2001, Milch created Big Apple , a crime drama that aired on CBS. His next major project, Deadwood , aired on HBO from 2004 to 2006. Milch was the creator, writer, and executive producer. The show gained critical acclaim and garnered multiple Emmy nominations. Though Deadwood ended after three seasons, a film continuation was released by HBO in 2019 to critical praise and another Emmy nod.
Later Endeavors and Unfinished Ventures
Milch continued creating new series, including John from Cincinnati in 2006, which was canceled after one season. A 2007 project, Last of the Ninth , was never picked up by networks. In 2010, he launched Luck , inspired by his passion for horse racing, but it was canceled due to animal safety concerns. Another proposed project, The Money , was ultimately passed on by HBO.
In 2019, Milch contributed as a writer to several episodes of the third season of True Detective , working alongside head writer Nic Pizzolatto.
Personal Life and Challenges
David married Rita Stern in 1982, and they have three children. Outside of television, Milch maintained a strong connection to horse racing, owning successful thoroughbreds. Notably, his horse won the 1992 Breeders’ Cup Juvenile and the 2001 Breeders’ Cup Mile.
Health issues have also marked Milch’s life. In the 1990s, he developed a heart condition and suffered a heart attack during a tense moment on the NYPD Blue set. Milch has been open about his bipolar disorder diagnosis. In 2015, just before beginning work on the Deadwood movie, he was diagnosed with Alzheimer’s disease. He has since moved to assisted living. In 2022, Milch published his memoir, Life’s Work , chronicling his experiences.
David Copperfield is widely regarded as the most successful magician in history, boasting a net worth of approximately $1 billion. His financial achievements far exceed those of any other illusionist, and his annual income, estimated between $40 and $60 million, primarily stems from the 500-plus shows he performs yearly at the MGM Grand in Las Vegas. Copperfield’s magic shows are the highest-grossing of all time, but his fortune is not built solely on illusions. His savvy investments in real estate, restaurants, merchandise, and collectible magic artifacts have expanded his empire substantially.
A Record-Breaking Career in Magic
Copperfield has sold more than 40 million tickets worldwide, generating over $4 billion in revenue from tours and shows. His Las Vegas theater alone hosts up to three shows a day, seven days a week, for 42 weeks annually, drawing approximately $50 million annually from ticket sales, excluding merchandising profits, which he fully controls. Remarkably, Copperfield has sold more tickets than legendary entertainers such as Madonna, Elvis Presley, and Michael Jackson, earning him 11 Guinness World Records. His 1996 Broadway production, Dreams and Nightmares , still holds the record for the most tickets sold in a single week.
David Copperfield (Image via Getty)
For over 40 years, Copperfield has amazed audiences with mind-bending illusions. His television specials featured feats like making the Statue of Liberty vanish and walking through the Great Wall of China. Beyond performing, Copperfield founded the International Museum and Library of the Conjuring Arts in Las Vegas, which houses the largest collection of magical artifacts in the world and preserves the history of magic.
From Childhood Curiosity to Magic Legend
Born David Seth Kotkin on September 16, 1956, in Metuchen, New Jersey, Copperfield was raised in a Jewish household by his mother, Rebecca, and father Hyman, who owned a men’s haberdashery. His fascination with magic began at an early age, starting magic and ventriloquism lessons at Camp Harmony in Warren, New Jersey, when he was just 3 or 4. By age 10, he performed under the stage name “Davino the Boy Magician,” and at 12, he became the youngest person ever admitted to the Society of American Magicians.
Copperfield’s passion for magic blossomed further as a teenager. By 16, he was teaching a magic course at New York University. He briefly attended Fordham University but dropped out after three weeks to pursue a career in performance, adopting the stage name “David Copperfield.” At 19, he launched his own stage show, Magic of David Copperfield , which began in Honolulu.
Milestones and Media Presence
Copperfield’s television career took off in the late 1970s with specials on ABC and CBS, showcasing his signature illusions to millions. He ventured into film with a role in the 1980 horror movie Terror Train . His 1983 stunt, making the Statue of Liberty disappear, fascinated the world, highlighting the fragile nature of freedom. The 1996 Broadway collaboration Dreams & Nightmares brought together luminaries like Francis Ford Coppola and Ray Bradbury. He later expanded his creative reach by co-producing, directing, and performing in various projects, including The Incredible Burt Wonderstone (2011) and Now You See Me 2 (2016).
Copperfield also made appearances on popular television shows like Scrubs , The Simpsons , and The Crazy Ones , blending his magical talents with acting. His extensive career includes numerous TV specials, live performances, and media engagements that continue to fascinate audiences.’
David Copperfield (Image via Getty)
Personal Life and Philanthropic Work
David Copperfield’s personal life has intersected with his career in notable ways. He was engaged to German supermodel Claudia Schiffer from 1993 to 1999, with Schiffer occasionally assisting in his illusions. He later dated French model Chloe Gosselin, with whom he has a daughter, Sky. Copperfield is also reported to have two children, Dylan and Audrey, with Czech model Marie Petlickova.
Despite allegations against him in 2007 and 2018 regarding sexual misconduct, no charges have been brought. Copperfield has dedicated himself to philanthropy through Project Magic, a rehabilitation program he founded in 1982 that uses magic as therapy for individuals with physical, psychological, or social disabilities.
A Treasure Trove of Magical History
Copperfield’s passion for magic extends beyond performance to collecting. He owns the largest collection of magic memorabilia globally, boasting over 150,000 items and books. His collection features priceless artifacts from legendary magicians such as Harry Houdini, Georges Méliès, and Robert Houdin. Housed in a 40,000-square-foot, fireproof warehouse outside Las Vegas, this collection is valued at around $500 million, after Copperfield invested roughly $200 million to assemble and preserve it.
His acquisition began in 1991 with the purchase of the Mulholland Library of Conjuring and Allied Arts, which included the largest collection of Houdini memorabilia available at the time. The warehouse holds iconic pieces like Houdini’s Water Torture Cabinet, the straitjacket escape suit, and original props used in historical illusions. The atmosphere of the collection demands respect, as it is accessible only to magicians, historians, academics, and select researchers.
Copperfield’s museum also archives his own career with thousands of press clippings, costumes, and props. The walls are adorned with vintage magic posters, including the rare surviving poster of Herrmann the Great from the 19th century, valued at over $60,000. Among the treasures are antique arcade games, Howdy Doody dolls, and Robert Houdin’s mechanical automatons, including the Singing Lesson, a robotic bird-teaching machine worth $1 million.
David Copperfield (Image via Getty)
Recognition and Honors
David Copperfield’s achievements have been celebrated worldwide. He has earned 21 Emmy Awards and titles such as Magician of the Century, Magician of the Millennium, and King of Magic. The U.S. Library of Congress honored him with the Living Legend Award, and New York City inducted him into the Ride of Fame.
Copperfield was the first magician to receive the French Chevalier of Arts and Letters and was awarded a star on the Hollywood Walk of Fame in 1995—the first living magician to receive this honor. His 11 Guinness World Records include accomplishments like “Most Magic Shows Performed in a Year” and “Largest Illusion Ever Staged.”
A Vast Real Estate Portfolio
Copperfield’s wealth extends well beyond his magic performances, with his real estate portfolio valued between $200 million and $300 million. His residences include a Las Vegas penthouse provided by MGM and a separate mansion near the Strip. In New York City, he owns a sprawling four-story penthouse near Central Park, covering 10,000 square feet with rooftop gardens and an indoor lap pool. Purchased for $7.4 million in 1997, its current market value exceeds $60 million.
His most impressive property holdings lie in the Bahamas, where he owns 11 private islands collectively known as Copperfield Bay. The centerpiece, Musha Cay, is a 150-acre island purchased for $55 million in 2006. Designed in classic English colonial style, the resort offers multiple luxurious villas, a manor house with panoramic views, and communal spaces like a wine cellar and games room.
Copperfield spent nearly a decade acquiring neighboring islands, investing $40 million, and five years renovating them into a private fantasy retreat. The islands feature pristine white beaches, exotic flora, and crystal-clear waters. When not used personally, Copperfield rents the resort at rates of $37,000 to $50,000 per night, attracting celebrity guests like Oprah Winfrey, John Travolta, Jim Carrey, and Google co-founder Sergey Brin, who was married there in 2007.
