Guy Fieri is now the highest paid chef on cable TV after signing a three-year contract with the Food Network for $80 million, according to Forbes.
The Sonoma County resident’s new deal, which he signed in April with the Discovery-owned channel, marks a $50-million raise from his previous contract.
Forbes estimates that Fieri is taking home about $26 million per year, although the celebrity chef declined to talk about his earnings with the publication.
It is uncommon for Discovery to offer that large of a deal to one of its hosts, whose contracts usually are limited to seven figures, Forbes reported.
Popular chef Emeril Lagasse earned significantly less in the early 2000s. The Food Network paid the former star of “Emeril Live” about $8 million per year.
Fieri’s contract is estimated to be worth more than “Pioneer Woman” host Ree Drummond and former “Fixer Upper” stars Chip and Joanna Gaines.
Fieri first appeared on the Food Network in 2006 as a contestant on “The Next Food Network Star.” After winning the competition, he launched “Diners, Drive-ins and Dives” which has run for 34 seasons. The analytics firm Kantar reported that the show created $230 million in ad revenue for the network in 2020.
Fieri has had 14 series on The Food Network to date. He also still owns his first restaurants in Northern California and has licensed his name to 80 restaurants across the globe. In 2020, he launched started a delivery-only “ghost kitchen” business called Flavortown Kitchen. There are 175 locations across the US.
In 2017, Guy teamed up with fellow NorCal resident Sammy Hagar to launch Santo Tequila. This venture has the makings of turning into another enormous windfall someday. Sammy has already had a huge success with the Cabo Wabo tequila brand. In 2007, Sammy sold 80% of the Cabo Wabo tequila company to Gruppo Campari for $80 million. In 2009, he sold the remaining 20% for an additional $15 million. That sale – NOT his work with Van Halen – is responsible for the majority of Sammy’s current $150 million net worth.
Guy Fieri attends a ceremony honoring him with a star at the Hollywood Walk of Fame on Wednesday, May 22, 2019, in Los Angeles. (Photo by Willy Sanjuan/Invision/AP)
Guy Fieri signs new Food Network deal for another 3 years
Fieri, who has appeared in more than a dozen Food Network shows, also launched the culinary competition “Tournament of Champions” and the game show “Guy’s Grocery Games.”