Karl Stefanovic’s insanely lavish expenses revealed

The golden boy of breakfast TV Karl Stefanovic takes home an eye watering pay packet each month – and he’s proved very adept at spending it.

EXCLUSIVE

Today show star Karl Stefanovic will be forced to rein-in his extravagant celebrity lifestyle if Nine’s bean counters take the knife to his $3 million salary in forthcoming contract negotiations.

The breakfast show host – whose mammoth pay packet so incensed his former Today co-host Lisa Wilkinson she lost her job at the network in a well-documented pay parity dispute – was already living a life of excess when he last sat down to negotiate his contract with Nine bosses in 2022.

Stefanovic, who is currently off air dealing with personal matters relating to his blended family, is under pressure to sweet talk Nine bosses when he returns to the negotiating table with his array of business managers mid year.

Karl and Jasmine Stefanovic at the Liv Golf tournament in Adelaide in February. Picture: Kelly Barnes

MORE: Karl Stefanovic’s multimillion-dollar breakup

Having taken a substantial pay cut in previous negotiations following his sacking from Today in 2018 and clumsy reinstatement in 2020, Nine’s former CEO Mike Sneesby and current director of television Michael Healy caved in to the breakfast host’s demands and bumped his salary to close to $3 million in 2022.

It’s a subject that has become a sore point with on-air Today co-host Sarah Abo who was persuaded she and her co-host were on similar coin, insiders claim.

In the eight years since Stefanovic, then a 42-year-old homely daggy father-of-three, split from his wife of 21 years Cassandra and transformed into glamorous partying jetsetter for younger second wife Jasmine, Karl 2.0 has proved himself exceptionally adept at spending his vastly improved $150,000-a-month take home salary.

The couple established the benchmark for their luxe lifestyle together by kicking off their marriage in December 2018 with an over-the-top wedding for 200 guests at an exclusive resort in San José del Cabo, Mexico.

Today Show hosts Sarah Abo and Karl Stefanovic. Picture: Supplied

Soon after, they pulled out his chequebook to splash out on multimillion-dollar homes in Sydney and Queensland.

Their first major investment in 2020 was a $3.6 million home at Sunshine Beach near Noosa called Villa Isabelle.

After purchasing the house, which is located within walking distance of a public beach and Noosa National Park, the couple began a major and lavish renovation which they hoped would see the home, newly reconfigured as a five-bedroom/five-bathroom domain, revalued at $7.5 million.

Their successive attempts to sell the property and recoup their investment – and a tidy profit – have to date failed.

Between private stays, they have resorted to leasing the property as an up-market holiday rental.

Karl and Jasmine Stefanovic's Sunshine Beach property. Picture: realestate.com.au

The view from Karl and Jasmine Stefanovic's Sunshine Beach property. Picture: realestate.com.au

The couple were in residence at the property in December when their four-year-old daughter Harper went missing, prompting Queensland police to send out a Polair chopper to locate the child, who was found at home.

Then there is the couple’s lavish north shore dream home in the Sydney harbourside suburb of Castlecrag, which is now under construction after a lengthy battle with Willoughby Council following complaints from neighbours.

Stefanovic paid $3.2 million for the property in March 2021 before engaging Melbourne architect firm Studio Kennon to redesign the bungalow into a modern five-bedroom/five-bathroom three-storey sculptural masterpiece.

Karl and Jasmine Stefanovic's Castlecrag property which is undergoing a major renovation. Source: realestate.com.au

Proposed redevelopment of the Stefanovic's Castlecrag property. Picture: Supplied

The cost of the renovation has been put at $4.5 million.

Separately the couple have long rented another home, a third outgoing expense, in Sydney’s northern suburbs for between $2000 and $3,500 a week.

They are currently in residence in a four-bedroom/three-bathroom house in Northbridge.

Offering some financial relief was the graduation from high school last year of Stefanovic’s third child, son River.

While the school fees for Stefanovic’s first family are finally behind him, as a co-parent there will likely be ongoing costs for all three children from his first marriage, including son Jackson and daughter Willow who flew to London in 2023 to study fashion.

As reported by news.com.au a week ago, Stefanovic is due to return to the Today show set on Monday.

Having missed, or been overlooked for, Nine’s federal budget night special last week, a question mark now hangs over Nine’s federal election coverage next month and any role he may play.

Insiders are tipping he will be overlooked once more.

Originally published as Karl Stefanovic’s insanely lavish expenses revealed