Respected veteran journalist Neil Cavuto has left Fox News after nearly three decades with the television channel, walking away from a meaningful and remarkable 28-year career he built with the network since its inception. Following the news of his departure, many have begun to wonder about the wealth he amassed by being one of the network’s mainstay anchors.
Cavulto’s net worth
The business journalist’s final day at Fox News was Thursday, Dec. 19. The network reportedly offered Cavuto a generous new contract before his existing deal expires next week. However, he declined to sign the offer, which included a salary reduction, according to a source who spoke with the Independent.
Despite rejecting the deal, Cavuto’s financials will unlikely be severely impacted since Celebrity Net Worth pegs his fortune at $25 million. Meanwhile, his decision to leave Fox marks the end of an era since he was one of the few remaining anchors who had been with the channel since its launch in 1996.
At the height of his career at Fox, Cavuto commanded an annual salary of $7 million, reflecting his pivotal role in shaping the network’s business coverage and credibility. As one of the longest-serving anchors, he has hosted key programs on Fox Business Network, including Your World with Neil Cavuto, Cavuto on Business, and Cavuto: Coast to Coast.
Cavuto’s distinguished career as a journalist
Born on Sept. 22, 1958, in Westbury, New York, Cavuto grew up in Danbury, Connecticut. He earned a bachelor’s degree in mass communication from St. Bonaventure University and obtained a master’s degree from The American University. Before joining Fox News, he worked at CNBC, where he served as chief business news anchor and co-anchored the network’s first broadcast in 1989. He also reported for PBS’s Nightly Business Report for 15 years, according to his Fox News profile.
Cavuto’s career spanned major financial events, including the 1987 market crash, the Persian Gulf Wars, the dot-com bubble, the 2008 financial crisis, and the market turbulence during the COVID-19 pandemic. He also faced multiple health challenges along the way, including stage 4 cancer, open-heart surgery, and severe COVID-19, but he survived all of them. His unwavering professionalism and stellar work ethic earned him five CableACE Award nominations and widespread respect in the industry.
Fox News recognized Cavuto’s contributions to the industry in a statement obtained by The Hill, which said: “Neil Cavuto’s illustrious career has been a master class in journalism and we’re extremely proud of his incredible 28-year run with Fox News Media. His programs have defined business news and set the standard for the entire industry. We wish him a heartfelt farewell and all the best [in] his next chapter.”
What’s next for Cavuto?
It’s still unclear what Cavuto plans to do after his sudden departure from his longtime network. It is worth noting that outside the newsroom, he authored books, such as More Than Money: True Stories of People Who Learned Life’s Ultimate Lesson and Your Money or Your Life.
As for the programs he left behind, Fox News has announced that they will be helmed by rotating anchors until the debut of new shows featuring other hosts and anchors.
Published: Dec 20, 2024 07:10 am