David Milch Net Worth

What Is David Milch's Net Worth?

David Milch is an American television writer and producer who has a net worth of -$17 million. David Milch earned over $100 million during his career by creating a number of extremely successful TV series, notably "Deadwood" and "NYPD Blue." Unfortunately, as was revealed in a 2016 lawsuit, David gambled away a shocking amount of money. His gambling resulted in David and his wife being $17 million in debt. Milch reportedly gambled away $25 million at the Santa Anita horse racetrack over a 10-year period. The family had to sell off real estate worth approximately $13 million and now live in a small rented house. Milch is given a $40 per week cash allowance from his wife. Most stunningly of all, David and his business managers reportedly kept his wife, Rita, completely in the dark about the losses for years.

Milch has won Primetime Emmy Awards for Outstanding Writing in a Drama Series for Hill Street Blues, Outstanding Drama Series for NYPD Blue, and two for Outstanding Writing for a Drama Series for "NYPD Blue." In 2006, he was awarded a star on the Hollywood Walk of Fame for Television at 6840 Hollywood Blvd. Milch, at one point, owned Thoroughbred racehorses and won the 1992 Breeders' Cup Juvenile with Gilded Time and the 2001 Breeders' Cup Mile with Val Royal.

Gambling & Financial Problems

In early 2011, David's wife, Rita, was called into the office of David's business management company, Nigro, Karlin, Segal, Feldstein, and Bolno, LLP ("NKSFB"), to discuss the transference of mortgage titles from Milch's name to hers. She recalled that she was confused as to the reason for the request. After asking why, the NKSFB officials fell silent. She demanded to know the truth, and after some time, they presented her with the evidence – numerous checks made out to the racetrack and large sums of cash withdrawals from their accounts. Milch, who has struggled and sought treatment for drug and gambling addictions in the past, had gambled and lost the family's fortune in just 10 years.

David was a serious gambler who was obsessed with developing strategies for effective handicapping, or analyzing the odds to improve the chance of winning. He even created the short-lived television series "Luck" based on his love of betting on horse racing.

The gambling losses came to light in 2016 when Rita sued NKSFB, claiming that it kept her in the dark about the true extent of David's gambling losses despite the fact that she continually sought guidance from them on the state of their finances. At the time of the lawsuit, the couple was reportedly in debt to the tune of $17 million.

After entering a repayment plan with the IRS, the couple sold off their properties, including a $4.8 million home in Brentwood, California, and an $8.9 million estate in Martha's Vineyard, Massachusetts. Rita held garage sales and sold off art, jewelry, and other valuables to raise capital and pay down the debt. She also began keeping David on a $40-per-week allowance.

Early Life

David Milch was born on March 23, 1945 in Buffalo, New York. He grew up in New York in a Jewish family. After high school, he attended Yale University, where he graduated summa cum laude with a B.A. degree. While at Yale, he won the Tinker Prize in English and was elected to Phi Beta Kappa. David was also a member of the Delta Kappa Epsilon chapter along with future U.S. President George W. Bush.

After completing his degree at Yale, he attended the University of Iowa, where he earned a Master of Fine Arts with distinction from the Iowa Writers' Workshop. To avoid the draft during the Vietnam War, Milch then enrolled in Yale Law School, though he never completed his degree there.

Early Career

Milch began his career as a writing teacher and lecturer in English literature at Yale. During his teaching career, he also worked with Robert Penn Warren and Cleanth Brooks to write several college textbooks on literature. Some of his writing was also published in "The Atlantic Monthly" and the "Southern Review."

"Hill Street Blues"

In 1982, Milch wrote a script for "Hill Street Blues." The script later became the episode "Trial by Fury." This script jumpstarted his career in television. He worked five seasons on "Hill Street Blues" as an executive story editor and later as an executive producer from 1982 to 1987. While working on the show, David earned two Writers Guild Awards, a Humanitas prize, and a Primetime Emmy Award. In 1987, he co-created the show "Beverly Hills Buntz" with Jeffrey Lewis. The show is a comedy-drama spin-off of "Hill Street Blues" that aired from November 1987 to May 1988.

In the early 1990s, he co-created "Capital News" with Christian Williams. The series focused on the editorial staff and writers of a fictional publication in Washington, D.C., and lasted for less than a year. In 1992, he worked on an episode of "L.A. Law."

"NYPD Blue"

In 1993, Milch created "NYPD Blue" with Steven Bochco. The show became very popular and remained on the air until 2005. David served as the executive director of the series for seven seasons. He received three Primetime Emmy Awards during his time working on the show. While still working on "NYPD Blue," David co-created the patrol police drama "Brooklyn South" with Bochco, Bill Clark, and William M. Finkelstein in 1997. The show was on air until 1998. He also co-created "Total Security" in 1997, though it lasted less than one year.

"Deadwood"

In 2001, David created the show "Big Apple," a crime drama that aired on CBS. From 2004 to 2006, Milch produced the show "Deadwood" for HBO. He was the show's creator, writer, and executive producer. The series was critically acclaimed, and David earned two Primetime Emmy Award nominations for writing and producing. The series ended after three seasons in 2006. There were plans for a film based on the series, which ultimately resulted in a film released by HBO in 2019. The film received critical acclaim and a nomination for the Primetime Emmy Award for Outstanding Television Movie.

Other Work

In 2006, Milch began production on "John from Cincinnati." The series was canceled after its first season. In 2007, he signed a contract for a new show called "Last of the Ninth." However, the show was ultimately not picked up by the network. In 2010, David announced he was developing a new drama for HBO called "Luck" based on the culture of horseracing. The first episode aired in December 2011, and it was picked up for a second season in 2012. However, after several horses died on set, the series ceased production. A few years later, he began developing a series called "The Money" for HBO, though HBO ultimately passed on the project. In 2019, he worked as a writer on a few episodes of the third season of "True Detective" along with head writer Nic Pizzolatto.

Personal Life

David married Rita Stern in 1982. They have three children together. Outside of his career in Hollywood, Milch also enjoys horseracing. He is an owner of thoroughbred racehorses. In 1992, the horse that he co-owned with Mark and Jack Silverman won the 1992 Breeders' Cup Juvenile. In 2001, his horse Val Royal won the Breeders' Cup Mile.

Milch has suffered from some health conditions over the years. In the 1990s, he developed a heart condition. While filming "NYPD Blue," he suffered a heart attack while arguing with actor David Caruso over the script. David has also stated that he has bipolar disorder. In 2015, he was diagnosed with Alzheimer's disease just before he began working on the script for the "Deadwood" film. In the years afterward, Milch moved to an assisted-living facility. In 2022, he published a memoir entitled "Life's Work."