Sumith Prasad
HBO’s documentary series ‘Ren Faire’ revolves around George Coulam’s plans to retire after selling the Texas Renaissance Festival, his multi-million-dollar kingdom. When he made it clear that he wanted to find his successor, Louie Migliaccio, one of the businessmen who continues to run stalls at the festivals, approached him with an offer. What ensued was a battle to win the throne of the TRF. As the show chronicles George’s efforts to step into the next phase of his life, the episodes make it clear how wealthy he is. Over the years, he has earned millions through the festival, which is only one of his numerous remarkable assets!
How Did George Coulam Earn His Money?
George Coulam became a businessman after he graduated from the San Fernando Valley State College/California State University in Northridge, California. Upon realizing that the Mormon Church authorities wouldn’t encourage him to set up a Renaissance festival in Salt Lake City, Utah, where his family was based, he arrived in Todd Mission, Texas, to form the Texas Renaissance Festival. The opening year of the festival witnessed an attendance of 33,000. George generated income through attendance fees and the rent/commission from the merchants who arrived at the festival to sell their goods.
In the initial years, George had to spend his money not only on running the festival editions but also on buying the nearby land that surrounded the TRF grounds. With several acres of the land to his name, Todd Mission indeed became his kingdom. As years passed, the festival grew, along with the revenue George received from it. The fifteen acres of land in which the TRF started eventually became around seventy, with an additional 200+ acres as camping grounds. The three stages grew to twenty-one. Each year, over four hundred shops camp at the festival, generating an admirable amount of money for George. By 2024, the annual attendees have increased to over half a million people.
George Coulam’s Net Worth
As the majority shareholder of the festival, George has been earning money from ticket sales, rents, and commissions. In 2015, the festival’s independent merchants generated more than $10 million. As the TRF prepares to celebrate its 50th anniversary, revenue is expected to keep increasing. In 2022, ahead of the festival, the company had a bank balance in excess of $4.74 million. Since then, two editions of the TRF have been completed, with a third one on the horizon, which indicates that the cash-in-hand should have been increased considerably, especially considering the success of the two events.
When George decided to sell his festival, he demanded at least $60 million from the prospective buyer, which sheds light on the worth of his company two years ago. In addition, the TRF is not his only asset. He is the owner of a spectacular estate that is located near the festival grounds. Named Stargate Manor, the 200-acre estate’s star attractions are his palace-like residence and his personal arboretum, which can be valued at around $30 million. The property also includes a cathedral, Grotto temple, amphitheater, spiritual complex, and art studio.
The 200-acre property is not the only land George owns in Todd Mission. More than 800 acres of land in the 1200-acre city is in his name. However, it is unclear how much of this land is divided among the festival and his personal ownership. His other assets include a Ford Lightning truck, a Cadillac Escalade, and other vehicles.
Given the value of TRF, his real estate holdings, and other sources of income, we estimate George Coulam’s net worth to be close to $100 million. The TRF founder is not a stingy spender. ‘Ren Faire’ itself shows that he is a “sugar daddy” who spends liberally for his companions. However, when it comes to his existing wealth and increasing revenue, these expenses are not expected to affect his worth drastically. Considering the unstoppable growth of the Texas Renaissance Festival, his net worth may continue to increase, but only as long as he remains its owner.
