Probably best known for playing Marv Murchins from the Home Alone series, Daniel Stern made an indelible impression on holiday cinema.
But his story of how he became a star and made money is as much about resilience as savvy negotiating.
Of course, everyone remembers the Wet Bandits, and Stern is a riot in his portrayal of Marv, one-half of the Wet Bandits, alongside Joe Pesci’s Harry Lime.
The first Home Alone movie in 1990 — also a massive hit, bringing in somewhere around $500 million worldwide.
But Stern almost didn’t get involved in the film because of contract issues.
Stern, who initially was offered $300,000 for a six-week shoot, pulled out when the production schedule was extended to eight weeks without extra cash.
Stern was then called back by producers unhappy with his replacement, and they convinced him to return with the original terms.
Later, Stern reflected and called it “one of the stupidest decisions in my show business life.”
The very unprecedented success of Home Alone was to pave the way for its sequel, Home Alone 2: Lost in New York.
When the sequel was announced, however, Stern realized how much he was worth to the franchise, and began negotiating for better terms.
After hearing that co-star Joe Pesci was earning up to $3 million, the initial offer of $600,000 for the second film seemed an insult.
Stern was not happy and fired his agent after the improved offer hit $800,000, which still wasn’t enough.
Determined to speak for himself, Stern went into the negotiations with a belief that he was worth a lot to the franchise.
That led to a bold new deal that would come to define Stern’s financial trajectory.
He got him a $1.5 million salary for Home Alone 2 and forced him to have a share of the film’s gross profits.
Stern, though, initially wanted two percent, and eventually settled for one percent, still a very lucrative deal.
Although this decision may have sounded very modest in the day it turned out to be a master stroke.
Stern’s one percent from Home Alone 2 grossed a whopping $359 million worldwide, which was an additional $3.59 million for Stern.
And in terms of today’s money, adjusted for inflation, that’s about $8.07 million.
Stern’s role in Home Alone 2 was one of the most lucrative decisions of his career, thanks to the lucrative clause.
Yet, this windfall didn’t last Stern forever, who finally ended up leaving Hollywood to devote his time to his personal passions and his family life.
After that, he became a sculptor and sculpted intricate bronze artworks, posting them on social media.
He also has been leading a quieter life in the entertainment spotlight, balancing art with other things.
Stern’s smart negotiations gave him financial freedom, and he used that to prioritize what was important to him.
What’s astonishing is that it was a strategic decision made decades ago that has continued to pay off for him most indirectly, in ways beyond the financial.
Daniel Stern’s story is a good testament to the strength of knowing your value and fighting for what is fair in compensation.
His tale is full of true revelation in the simple but powerful decision to include a profit-sharing clause in his contract.
One clause made sure Stern was reaping the rewards of the franchise’s success, collecting millions after the cameras stopped rolling.
But Marv’s legacy as Marv and his knack for negotiating his contract will continue to be something fans will keep coming back to when they pull out of Home Alone during the holiday season.
