Bethenny Frankel say that they paid $7,250 for the first season of “Real Housewives of New York” in 2008.
Bethenny Frankel started at the bottom.
The reality TV star and entrepreneur, revealed she was paid a measly $7,250 for the entire first season of “The Real Housewives of New York” in 2008.
“I should not be taken seriously in the beginning; I had no value,” Frankel, 47, told InStyle about her finances. “Or I did not know that the value I would have. I was a person that Bravo was for rent for $7,250 for the entire first season of [‘Real Housewives’].”
Despite the low-ball offer from Bravo, Frankel managed to get the better end of the deal by adding a special clause in her contract.
“But I knew what I wanted, and that was to keep track of everything I did in business,” she explained. “If you’re on a reality show, you have a percentage [of which company you promote on the show] to the network — but that I did not. The industry eventually called it ” The Bethenny Clause.'”
Frankel, who created and sold Skinnygirl Cocktails for a reported $100 million, said the clause was used in the industry, causing much destruction.
Elsewhere in the open interview about money, Frankel shared her financial regret. No, she didn’t want to spend on an unnecessary car or nice house, but it had to do with the paperwork.
“My biggest money mistake was not checking the appropriate box on a contract about whether my company was an LLC or an S Corp,” she said.
Frankel, who has her fingers in many different businesses, said the error affects its bottom line.
“It costs me millions of dollars when I sold,” she said. “But that is a mistake. [Important] the right business managers and accountants and all that kind of stuff.”
This article originally appeared on Page Six.