Joan Crawford: Finances, Fortune, and Controversy

Joan Crawford, a Hollywood icon of the Golden Age, amassed a considerable fortune throughout her decades-long career. Her financial savvy, combined with her relentless ambition, allowed her to transition from a struggling chorus girl to one of the wealthiest actresses of her time. However, her wealth and its disposition became a source of significant controversy, particularly after her death.

Crawford’s initial success in silent films catapulted her into stardom, enabling her to command substantial salaries. Unlike some stars who squandered their earnings, Crawford was known for her frugal lifestyle and keen investment sense. She reinvested much of her earnings into real estate, particularly in Brentwood, California, where she owned a sprawling mansion that became synonymous with her glamorous image. This property, along with other real estate holdings, appreciated considerably over time, contributing significantly to her wealth.

Beyond real estate, Crawford also invested in various business ventures, including Pepsi-Cola. Her marriage to Alfred Steele, the CEO of Pepsi-Cola, further cemented her financial position. After Steele’s death, she became a director of the company, inheriting a large block of stock and receiving a substantial pension. This association not only provided her with financial security but also a platform to remain relevant in the business world.

Crawford’s frugal habits were legendary. She was known for turning off lights, reusing teabags, and haggling over prices. While some saw this as eccentric, it reflected a deeply ingrained sense of thriftiness stemming from her humble beginnings. This meticulous approach to finances ensured that she maintained control over her wealth and avoided unnecessary expenses.

However, the distribution of Crawford’s estate after her death in 1977 sparked a bitter feud. Her will explicitly disinherited two of her adopted children, Christina and Christopher, stating that they were intentionally omitted. She left the bulk of her estate, estimated to be around $2 million (equivalent to several million today), to her other two children, Cathy and Cindy, and a few charities.

Christina Crawford’s explosive memoir, “Mommie Dearest,” published shortly after Joan’s death, alleged years of abuse and neglect. While the veracity of Christina’s claims has been debated for decades, the book painted a devastating picture of Joan Crawford as a tyrannical and emotionally unstable mother. The disinheritance became a key piece of evidence supporting Christina’s narrative, fueling public perception of Crawford as a vindictive and controlling figure.

The controversy surrounding Crawford’s will and Christina’s accusations tarnished her legacy. While her financial success and business acumen were undeniable, the ensuing drama overshadowed her accomplishments. Regardless, Joan Crawford’s story remains a fascinating case study of ambition, wealth accumulation, and the complex dynamics within a Hollywood family.