Forbes reports that JRR Tolkien’s estate may have earned up to $500 million on the sale of the rights to The Hobbit and The Lord of the Rings.

The latest list of highest earning dead celebrities from Forbes puts JRR Tolkien, who died in 1973, at the top.

Embracer spent at least $500 million for Middle Earth [sic] Enterprises, a number Embracer didn’t refute… in what’s been described as the most complex IP rights split in history.

Forbes 2022

Those rights include every word printed in The Hobbit and The Lord of the Rings, to make movies, games, merch, theme parks, collectibles, weapons, drinks, and more. Embracer has already said they will be making many games and explore more film spinoffs. Since they now own worldwide merchandising rights, Amazon will have to negotiate with Embracer for any Rings of Power based merch to be brought to market.