Myron Leon Wallace was born on 9 May 1918, in Brookline, Massachusetts USA, to Zina and Frank Wallace, of Russian-Jewish descent. He was a journalist, game show host, actor and media personality, best known for hosting the CBS news program “60 Minutes”. He passed away in 2012.
A noted television host, how wealthy was Mike Wallace? According to sources, Wallace had collected a net worth of over $21 million, acquired largely during his career as a television journalist.
Mike Wallace Net Worth $21 million
Wallace grew up in Brookline, where he attended Brookline High School. Upon matriculating in 1935 he enrolled at the University of Michigan, obtaining a Bachelor of Arts degree in 1939. His career in journalism began in college, where he worked as a reporter for the Michigan Daily student newspaper. Prior to his graduation, he began his radio career, working as newscaster and announcer at several radio stations in Michigan. Enlisting in the US Navy during World War II, he served as a naval communications officer for three years, then went on to work a variety of radio jobs as an announcer in the late ’40s and early ’50s, which greatly contributed to his reputation and to his net worth too.
Meanwhile in 1949 Wallace became involved in a number of television and media jobs. He hosted game shows such as “Who’s the Boss?”, “The Big Surprise” and “Who Pays?”, and did various commercials, further increasing his wealth. In the mid-’50s, he became the host of an interview show called “Night Beat”, that went national on ABC as “The Mike Wallace Interview”, earning Wallace his first taste of fame and greatly adding to his fortune.
The early ’60s saw him doing commercials such as that for Parliament Cigarettes, but during this time he hosted a nightly interview program for Westinghouse Broadcasting called “PM East”, and a documentary television series produced for Syndication by David Wolper called “Biography”.
In 1963, Wallace became a full-time correspondent for CBS News, being later chosen as the lead reporter of the network’s news magazine television program “60 Minutes”, which debuted in 1968. Hosting a show that became extremely popular enabled Wallace to become involved in some of the world’s most important events, and to interview a number of presidents and other important figures. His work on the show made him a star television personality, famous for never being afraid of asking the tough questions and having no mercy for his subjects. He was also known for several controversies while on “60 Minutes”, such as being sued for libel by General William Westmoreland over a special he had done on the Vietnam War.
Wallace retired as a full-time correspondent in 2006, but went on to occasionally appear in the show for two more years. His career on the show lasted for 37 years, the oldest news anchor of “60 Minutes”, earning him an impressive net worth.
Wallace also pursued an acting career. Back in the late ’40s he starred in the short-lived television series “Stand by for Crime”, and went on to appear in other series during the ’50s, such as “You Are There”, “The Web”, “General Electric Theater” and “Studio One in Hollywood”. All contributed to his wealth.
Wallace also wrote two autobiographies with Gary Paul Gates, the 1984 “Close Encounters: Mike Wallace’s Own Story” and the 2005 “Between You and Me: A Memoir”.
When it comes to his personal life, Wallace was married four times. His first marriage was to Norma Kaphan, from 1940t to 1948; they had two children. In 1949 he married Patricia ‘Buff’ Cobb, divorcing her in 1955, later that year marrying Lorraine Perigord, who he divorced in 1986. His last marriage was to Mary Yates, who he married in 1986, remaining with her until his death. Wallace unknowingly suffered from clinical depression for years, which once led him to attempt a suicide. Wallace died of natural causes in 2012, being aged 93. His celebrated career earned him numerous Emmy Awards, and enabled him to amass a sizable fortune.
