00:00Matt Drudge, best known for his pioneering news aggregation website The Drudge Report,
00:24has, to say the least, become somewhat of a polarizing figure in media and politics
00:29in the last couple of decades. Since launching his site in the 90s,
00:33Drudge has wielded significant influence over the news cycle and public discourse.
00:37While his methods and editorial choices have often been controversial,
00:41there's no denying the financial success he's achieved.
00:44Today, we'll explore his journey from obscure blogger to media mogul.
00:59The Rise Of An Internet Pioneer
01:16Matt Drudge, born October 27, 1966, in Tacoma Park, Maryland, is a name that's all but
01:23synonymous with the dawn of internet journalism. As the founder and editor of The Drudge Report,
01:28he revolutionized how news is consumed and distributed online. But Drudge's journey to
01:33becoming a media mogul and accumulating his impressive net worth was far from conventional.
01:39Growing up near Washington, D.C., his early life was marked by an avid interest in news and talk
01:45radio. After his parents divorced when he was six, he lived with his mother. Drudge was not
01:49a stellar student, graduating 341st in a class of 355. In his book, Drudge Manifesto, he even
01:57admits to having failed his bar mitzvah. Drudge's path to success was anything but direct. He
02:03worked a series of odd jobs, including night counterman at a 7-Eleven, telemarketer for
02:08Time Life Books, and manager at McDonald's. In 1989, he moved to LA, taking a job in the
02:14gift shop of CBS Studios. It was there, privy to insider Hollywood gossip, that the seeds of
02:20The Drudge Report were planted. The Birth of The Drudge Report
02:43In 1994, Drudge's father bought him a Packard Bell computer, concerned about his son's apparent
02:49aimlessness. The gift proved to be the catalyst for Drudge's future success. The Drudge Report
02:55began as simple email notes sent to a few friends, a mix of gossip and opinion.
03:00The newsletter quickly transitioned from entertainment gossip to political news,
03:05moving from email to the web as its primary distribution method. By March 1995, The Drudge
03:11Report had 1,000 email subscribers. Just two years later, the number had ballooned to 85,000.
03:17Drudge's big break came in 1996 when he accurately reported that Jack Kemp would
03:23be Bob Dole's running mate in the presidential election. But it was in 1998 that Drudge truly
03:28cemented his place in media history. He broke the news of the Clinton-Lewinsky scandal,
03:34scooping mainstream media outlets and forever changing the landscape of online journalism.
03:40The Drudge Report's Influence and Revenue The Drudge Report's influence on media and
03:45politics cannot be overstated. Despite its simple design – a series of black and white headlines
03:51and a few color photos – the site became a go-to source for both the public and other journalists.
03:56Its ability to drive traffic to other news sites made it a powerful force in shaping the news cycle.
04:02In 2006, Time Magazine named Drudge one of the 100 most influential people in the world.
04:08ABC News concluded that the Drudge Report sets the tone for national political coverage.
04:14Even the Washington Post acknowledged in 2006 that Drudge was their largest driver of traffic.
04:20This influence translated into significant revenue. In 2003, Business 2.0 magazine
04:26estimated that the Drudge Report was earning $3,500 a day in advertising revenue.
04:32After subtracting server costs, they estimated that the site netted $800,000 annually.
04:38Drudge himself confirmed in a 2004 C-SPAN appearance that he was earning more than
04:43a million dollars a year. Expanding Beyond the Web
04:59Drudge's success with his website led to opportunities in other media. From June 1998
05:05to November 1999, he hosted a Saturday night television show called Drudge on Fox News Channel.
05:11The show ended due to a disagreement over content, with Drudge refusing to go on air
05:16after Fox News prevented him from showing certain photos related to abortion.
05:21Drudge also ventured into radio, hosting a Sunday night talk show syndicated by Premier
05:26Radio Networks. He became a frequent reference for news material on popular conservative radio
05:32shows hosted by Rush Limbaugh, Sean Hannity, and Mark Levin. Drudge left his position as
05:37radio host in September 2007. In 2000, he co-authored a book with Julia Phillips titled
05:43Drudge Manifesto, which made the New York Times bestseller list. The book offered insights into
05:49his philosophy and experiences in the world of news and media.
05:53The Reclusive Millionaire
05:55Despite his significant public influence, Drudge is known for being notoriously private.
06:00He rarely gives interviews and has become increasingly reclusive over the years.
06:05This air of mystery has only added to the public's fascination with him and speculation
06:10about his wealth. For many years, he operated the Drudge Report from his one-bedroom apartment
06:15in Hollywood. Today, he maintains the website from his properties in Miami.
06:19In 2007, it was reported that Drudge owned two properties in Miami – a $1.4 million
06:25Mediterranean-style stucco house on Rivo Alto Island and a $1 million-plus condominium in
06:31Miami's Four Seasons Hotel. His personal life remains largely out of the public eye.
06:37In a 2003 interview, he stated that his only indulgence, apart from travel, was his Corvette.
06:43His decision to base himself in Florida is likely influenced by the state's favorable tax laws.
06:49The Drudge Report's Worth
06:51Estimating the exact value of the Drudge Report is challenging
06:54due to its private ownership and Drudge's reluctance to discuss financial matters.
06:59However, various estimates have been made based on the site's traffic and revenue.
07:03In 2020, amid rumors that Drudge might be seeking an investor,
07:07media watchers attempted to value the site. Estimates ranged from $100 million to over
07:12$200 million. Matthew Lisiak, author of Drudge Revolution, suggested that if Axios was worth
07:18over $200 million, the Drudge Report would be worth well north of that given its higher traffic
07:24and lower overhead. The site's value is largely derived from its massive traffic. In 2020,
07:30Drudge claimed on his website that in the previous 24 hours, he had 27.3 million visits
07:36and over the last month, 767.2 million visits. However, it's important to note that these
07:42figures don't necessarily represent unique visitors. Different tracking services provide
07:47varying estimates of the Drudge Report's traffic. SimilarWeb pegged August 2020 traffic at 63.22
07:54million visitors a month with 721.3 million page views. SEMrush estimated much higher at
08:01150.1 million visitors and 1.063 billion page views. Based on these traffic estimates,
08:0924-7 Wall Street calculated that the Drudge Report's revenue could be approximately $3.4
08:15million a month or $40.8 million a year. With minimal overhead costs estimated at about $3
08:22million a year, the site's profitability is substantial. In the meantime, the administration
08:27is defending the GOP after a scathing critique from Matt Drudge, the well-known conservative
08:33firebrand accusing the party of ignoring its campaign promises, tweeting, quote,
08:39Republican Party should be sued for fraud. No discussion of tax cuts now, just lots of crazy.
08:46Back to Basics, guys. Matt Drudge's Net Worth
08:49Most estimates place his net worth between $150 million and $200 million. The impressive fortune
08:56has been accumulated primarily through the success of the Drudge Report. His real estate
09:00holdings also contribute to his net worth. In addition to his Miami properties, in 2023,
09:06he listed a compound in Miami for $2.9 million.
09:10Now it's time to hear from you. What do you think about Matt Drudge's enduring legacy on media?
09:14Let us know in the comments section below.
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