Paul Tollett Net Worth – The Coachella Valley Music and Arts Festival

The Coachella Valley Music and Arts Festival has a history spanning more than a decade and has reinvented the music festival in the process. The organizers have even done some pretty clever things like creating the aptly named “Every One” program to fight sexual harassment. Among other things, it is a good way to help local artists get exposure. Despite the festival’s scalability, its popularity has left a dent in the local economy. In the long run, however, it has resuscitated the once-thriving music festival scene in the valley.

The festival is produced by a company called Goldenvoice. It’s a subsidiary of Philip Anschutz, a billionaire American Christian conservative who is best known for his oil business. He is also one of the aforementioned media moguls and is often described as press-shy. When he started out, he was on a quest to expand his fortunes by acquiring a few oil shale drills, a few hotels, and some music and film companies. His first notable acquisition was an entertainment production company called Goldenvoice, a joint venture with Aftab Dada.

While the name of the festival may be a little overshadowed by the likes of Coachella, Aftab Dada, and the aforementioned dudes, it’s safe to say that it’s been a smash hit with the locals. Even in its early days, it racked up some impressive numbers. During the two-weekend run in October 2016, the festival grossed $160.1 million. Considering that the average rock concert goer flies to the show from their metro area, it’s no wonder. With a plethora of talent on hand, Tollett managed to pull off the most successful music and arts event of all time.

The festival isn’t the only event produced by the aforementioned outfit; it’s also responsible for the Palm Springs Splash House, which runs on the same premise as the aforementioned gizmo. There’s also the Beach Club, a club-like venue with a similar feel. And to top it all off, the company also has a full-time community liaison tasked with helping residents prepare for events near their homes. Indeed, the company’s slogan is “Helping to make Southern California a better place to live, work and play.” That’s a pretty lofty goal to achieve.

As for the company’s aforementioned “Every One” program, Tollett said he’s “not in a hurry to change that.” At least not for the moment. However, he did say that he is looking forward to bringing the likes of Frank Ocean and Kendrick Lamar to Coachella in the future. Until then, he’s tinkering with plans to expand the festival to multiple sites across the valley.