During her short yet legendary career, Marilyn Monroe earned roughly $4 million for her film work. When adjusted for present-day inflation, this amount equals about $42 million. However, Marilyn was not particularly prudent with her finances. She spent lavishly on homes, jewellery, and fashion, while also generously helping her family, friends, staff, and even strangers in need.
When she passed away in August 1962 at just 36, her estate was worth only $800,000 — nearly $8.5 million in today’s terms. After settling debts, taxes, and legal costs, that sum was reduced to around $370,000.
Her will included a few heartfelt, modest legacies:
- $10,000 each to her half-sister and her long-serving assistant
- $5,000 set aside in trust for the assistant’s child
- A $100,000 trust to support her mentally ill mother
This is where it gets interesting. And this is how a little-known actress from Venezuela ended up owning the majority of Marilyn Monroe’s image… and the tens of millions those rights generated in the decades that followed.
IP Rights
Once the rest of her cash was divided, two significant assets remained:
- Her personal belongings
- Her intellectual property — the legal rights to her image, name, and likeness, as well as all associated income
She willed her personal possessions to her acting mentor, Lee Strasberg, who — along with his first wife Paula Strasberg — had played parental roles in Marilyn’s life.
Monroe’s will allotted 75% of her intellectual property rights to Lee Strasberg and 25% to her psychiatrist, Dr. Marianne Kris.
Dr. Kris died in 1980. Upon her death, that 25% stake was donated to the Anna Freud Centre for the Psychoanalytic Study and Treatment of Children in London. Anna Freud’s father, Sigmund Freud, was a pioneer in research on sex. So it’s somewhat appropriate that 25% of the money generated by one of the greatest sex symbols of all time benefits a foundation established by Dr. Freud’s daughter.
The Entry of Anna Strasberg
In 1966, just four years after Marilyn’s death, Paula Strasberg succumbed to cancer. A year later, Lee married again — this time to Anna Mizrahi, a 28-year-old aspiring actress from Venezuela. Born in Caracas in 1939 to Sephardic Jewish parents, Anna moved to the U.S. in 1960. She worked with the United Nations, trained under acting coach Sanford Meisner, and featured in a few screen roles, including Run for Your Life and The Girl from U.N.C.L.E. She met Lee Strasberg during an audition and the two tied the knot in 1968.
Lee passed away in 1982, and Anna — then just 43 — unexpectedly became the owner of 75% of Marilyn Monroe’s image rights.
The Accidental Mogul
After Lee’s passing, Anna began to monetise Monroe’s legacy. She entered into licensing agreements that put Marilyn’s likeness on a wide array of products — from clothing and perfumes to vodka bottles, slot machines, lingerie, and even collectible dolls. Anna successfully turned Monroe into a global merchandising icon and earned tens of millions along the way.
She eventually collaborated with CMG, a celebrity licensing agency. According to court filings, the deal assured Anna a minimum of $1 million annually, though between 1996 and 2000 alone, she reportedly made $7.5 million in licensing revenue. In 2000, she launched Marilyn Monroe, LLC to oversee the estate’s commercial operations.
Here’s a photo from 1995 showing Anna (left), the US Postmaster General and actress Zsa Zsa Gabor, unveiling the Monroe commemorative stamp:
Legal Challenges
However, Anna’s control over Monroe’s image did not go uncontested. In 2005, four major lawsuits arose between Anna, CMG, and the descendants of several photographers who had taken Monroe’s iconic photos. These legal battles spanned three states: California, New York, and Indiana.
At the centre of the dispute was the issue of Monroe’s legal residency — was she a Californian or a New Yorker when she died? This question mattered because, in California, heirs inherit the rights to the deceased’s image, but in New York, copyright holders — in this case, the photographers — retain those rights. Anna argued Monroe was a resident of California to maintain control over the image rights.
After seven years of legal battles and appeals, the Ninth Circuit Court of Appeals ruled in 2012 that Monroe was a New York resident. It was a major blow to Anna’s licensing operation. The court decision meant the heirs of Monroe’s photographers, not Anna Strasberg, would retain the rights to license many of the most iconic images of the actress.
A Strategic Exit
Well before the court’s decision, Anna saw what was coming. In 2011, she sold her majority stake in the Monroe estate to Authentic Brands Group (ABG) for between $20 and $30 million, while retaining a minority interest to ensure she continued receiving income.
The Anna Freud Centre, which had inherited Dr. Kris’s 25% stake, reportedly earned about $8 million from the same transaction.
Under ABG’s ownership, Monroe’s brand continued to thrive. The company signed new branding deals with luxury and consumer labels, and Monroe’s image continued to appear in high-profile campaigns for brands like Dior, Chanel, Snickers, Chrysler, and Coca-Cola. In 2023, Monroe earned $10 million posthumously.
A Lasting Impact
Although Anna was often described as a savvy businesswoman, her involvement in the Monroe estate wasn’t only about profits. She took a genuine interest in preserving Marilyn’s legacy — both as a public figure and a private person.
She published three books curated from Marilyn’s personal writings:
- Fragments: Poems, Intimate Notes, Letters (2010)
- MM – Personal: From the Private Archive (2011)
- Girl Waiting: Drawings/Sketches (2012, in French)
She also approved the documentary Love, Marilyn in 2012, which featured actors reading Monroe’s writings and showcased rare footage.
Beyond that, Anna remained deeply involved in the arts. She continued running the Lee Strasberg Theatre & Film Institute, gave lectures globally, and offered scholarships for underprivileged students — including those from the Oneida Nation in Wisconsin.
The Final Chapter
Anna Strasberg died in January 2024 at the age of 84 in New York City. Over the previous four decades, she earned at least $40 to $50 million off Marilyn Monroe’s image. Literally ten times more than Monroe earned herself in her career.
She often recalled Monroe with warmth, describing her as someone who was curious, passionate, and constantly eager to evolve. Speaking about inheriting Marilyn’s possessions — from letters to old clothes and clippings about Arthur Miller — Anna once remarked, “The essence of Marilyn was her absolute enthusiasm. Her studies with Lee gave her confidence and made her stronger.”
Though her role in Monroe’s legacy was unexpected, Anna Strasberg handled it with business acumen and a heartfelt sense of duty.
