Big Brother is watching, and the censoring has just started.
In a shocking move, CBS announced this week that it is going to end ‘The Late Show with Stephen Colbert’ next year, exiting the late-night TV scene altogether. The cancellation, supposedly driven by financial pressures, will take effect in May 2026, coinciding with the usual end of the TV season.
This decision to axe the top-rated late-night program comes just weeks after CBS’s parent company, Paramount, settled a lawsuit with President Trump, raising questions about Colbert's future, given his frequent criticisms of Trump on air.
During a recent taping, Colbert shared the news with the audience, saying, “Next year will be our last season. The network will be ending our show in May. It’s the end of ‘The Late Show’ on CBS.”
Helming ‘The Late Show’, which has been a staple of CBS for over thirty years, Colbert had big shows to fill. What David Letterman started in the 90s with his signature elements, later passed the torch to Stephen Colbert in 2015, who infused the show with sharp political humor.
Colbert, having a background with Paramount through ‘The Daily Show’ and ‘The Colbert Report’, came in sharp and strong, armed with his wit, political insight, and critical stance, and made his mark through ‘The Late Show with Stephen Colbert’.
Not only did Colbert amass a loyal base of followers and triggered a cultural influence that caused the uproar upon the news of the cancellation of the show, but the late show host also built his empire worth millions of dollars.
Let’s take a look.
Stephen Colbert: Net Worth
Stephen Tyrone Colbert is an American comedian, writer, producer, political commentator, actor, and television host. He is best known for hosting the Comedy Central news satire show The Colbert Report from 2005 to 2014, and the CBS talk show The Late Show with Stephen Colbert since September 2015.
According to various financial sources, Stephen Colbert’s net worth is estimated to be around $75 million as of 2025. With a diversified financial portfolio, Colbert’s earnings come from multiple sources of income. His earnings from television play a significant role in his financial success, with whopping figure salaries from iconic shows like ‘The Daily Show’, ‘The Colbert Report’, and currently, ‘The Late Show’.
Salary from ‘The Late Show’: In his 2015 debut year, Colbert reportedly earned $6 million annually. Four years after his debut, a contract signed in October 2019 reportedly escalated his pay to $15 million per year. In June 2023, he secured another three-year extension, which is going to last through May 2026. With approximately 168 shows produced each year, this translates to an impressive per-episode earnings of roughly $89,800, further solidifying his status as one of the leading figures in late-night television.
Income from other ventures: Apart from ‘The Late Show’, Colbert has also made a fortune with book sales of ‘I Am America (and So Can You!)’ and ‘America Again’. He has lent his voice to various projects, including ‘Monsters vs. Aliens’, has made his mark on Broadway, and continues to foray into various production ventures, showcasing his skills both as a producer and an actor.
With roughly $150 million earned from CBS over a decade, Stephen Colbert is set to bid adieu to ‘The Late Show’ next May. There’s no denying that ‘The Late Show’ has been expensive to produce, costing over $100 million per year, including Colbert’s salary and a 200‑person staff. Although highly successful and culturally significant, the show struggled financially, losing approximately $40 million annually, and CBS decided to pull the plug.
Colbert’s farewell in May 2026 marks the end of an era, but Colbert has yet to announce what he will take on next.
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