When the glamorous celebs walked the red carpet on Feburary 24th they were decked out in thousands of dollars in couture, millions in jewels — and some, if they were the luck ones, will be leaving with some priceless golden hardware. The Oscar statuette is officially named the Academy Award of Merit and is one of nine types of Academy Awards.
Between the total box office grosses, the massive movie budgets and the gold statuettes, it may seem like the sheer amount of money in Hollywood is second to none. But to put it all in perspective, it’s not even 1% of what the IRS will collect in income taxes this year.
Our latest infographic takes a look at the dollars behind the little gold dude, with a few special tax-y twists. The 85th Oscar Awards season has nothing on tax season.
The first awards were presented on May 16, 1929, at a private brunch at the Hollywood Roosevelt Hotel with an audience of about 270 people. The post Academy Awards party was held at the Mayfair Hotel. The cost of guest tickets for that night's ceremony was $5. Fifteen statuettes were awarded, honoring artists, directors and other personalities of the filmmaking industry of the time for their works during the 1927–1928 period.