The child stars of HBO’s new ‘Harry Potter’ TV show are about to experience a life most children can only imagine. Now the rumors are circulating about how much they will be earning.
It is pretty clear that these ordinary kids are on their track to become multi-millionaires. But this raises an important question: how much control will these young actors actually have over their earnings?
How Much the New ‘Harry Potter’ Stars Are Really Earning?
The numbers behind HBO’s new wizarding trio are nothing short of staggering. Dominic McLaughlin, Arabella Stanton, and Alastair Stout, who will play Harry, Hermione, and Ron, are reportedly earning £500,000 ($660k) each for the first season of the series.
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To put this into perspective, Daniel Radcliffe earned around $1 million for ‘Harry Potter and the Philosopher’s Stone‘. Though it is not clear how much Emma Watson and Rupert Grint exactly earned. But it is believed to be slightly less than Radcliffe.
Much like their predecessors, these child stars are also plucked from obscurity. If the series achieves the same level of global success as the films, these children are on their track to become multi-millionaires. But this depends on whether their earnings are safeguarded properly.
How Can The Child Stars Protect Their Earnings?
In the United States, production companies are legally required to protect a portion of the performer’s earnings. This requires that 15% of a minor’s earnings in the entertainment industry be set aside in a blocked trust account to ensure the funds are preserved until they turn 18.
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However, in the UK, there is no law equivalent to this one that ensures a child actor’s earnings are safely secured for them to spend. But there are laws that prohibit the parents from spending the money. Instead, their income is placed in a trust fund that they can access once they turn 18.
If their earnings are properly safeguarded, it is undeniable that these pre-teens will become millionaires even before they turn 18.
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