Jimmy Fallon Net Worth: Host Earns $16M Annually From 'Tonight Show'

Hosting a late-night show is a tough job, but Jimmy Fallon and his fellow hosts get paid handsomely for it.

As of 2017, three years into his stint as host of “The Tonight Show,” Fallon was making an estimated $16 million a year, Variety reported.

Fallon will likely continue to make more or less this amount in the coming years as he signed a contract extension with NBC in 2020 to continue hosting the late-night show, Deadline reported. His current contract, which he had signed in 2015, runs through to the end of 2021.

It is not clear how much his new contract pays him, but according to the outlet, “The Tonight Show” has been lagging behind CBS' “The Late Show with Stephen Colbert” and ABC's “Jimmy Kimmel Live!” in terms of ratings.

In comparison, his fellow late-night hosts Stephen Colbert and Jimmy Kimmel were making an estimated $15 million a year as of 2017, CNBC reported. The outlet noted that Jon Stewart was the highest-paid late-night host on television before he left “The Daily Show” in 2015, earning over $25 million annually.

With his massive pay, it is no surprise that Fallon made Celebrity Net Worth's list of the top 50 richest comedians in the world with an estimated net worth of $60 million.

Before hosting his own late-night show, Fallon first made a name for himself as a cast member of “Saturday Night Live.” His first audition for the comedy sketch show in 1997 was unsuccessful, but he managed to get hired in his second audition at the age of 23.

Fallon initially planned to stay with “SNL” only for three years, but he remained after becoming host of “Weekend Update” alongside Tina Fey in 2000.

The comedian left “SNL” in 2004 to pursue further career options, which included movies such as “Taxi” (2004), “Fever Pitch” (2005), “Factory Girl” (2006) and “Whip It” (2009).

He became the host of “Late Night With Jimmy Fallon” in 2009, taking over from Conan O’Brien, Deadline reported. Immediately after the 2014 Winter Olympics, Fallon was selected to host “The Tonight Show” after Jay Leno.

Thanks to his successful TV career, Fallon has a number of real estate properties to his name. He purchased a one-bedroom condo in New York City for $850,000 in 2002, according to Architectural Digest.

In the next two decades, Fallon and his wife, Nancy Juvonen, continued to purchase the neighboring units to increase the size of their downtown Manhattan home. Earlier this year, the couple listed the property, which now spans 4,950 square feet, on the market for $15 million after years of expansion and renovation.

Fallon and his wife also own a home in the Hamptons, a farmhouse-style home built in the 1800s that spans 3,500 square feet, as per Celebrity Net Worth. They bought it in 2011 for $5.7 million.