Apr 05, 2014 11:19 AM EDT

David Letterman Retiring In 2015, Possible Replacements, and Current Net Worth

David Letterman will be retiring his post in 2015, he is also considered as the longest practicing late night TV show host in the industry. He recently announced the news on Thursday about doing his last show some time next year,

David Letterman has expressed that he wants to have more time with his family, the famous TV host is turning 67 soon. The announcement on his late night show was a shocker primarily to his fans.

One rumored reasons why the host suddenly wanted to retire was the decreasing amount of his yearly salary. The lower rate does not make the famous host fortune smaller, his net worth definitely makes him a very exceedingly rich man. David Letterman receives $20 million a year salary, and that means he has so much to be happy about even after retirement. Reports also stated that compared to this year salary, he was receiving $50 million a year on his previous years.

David Letterman has been on the late night show industry for 22 years with CBS, and another 11 years with NBC. He has hosted 6,000 episodes in the duration of his marvelous career. The entertainment industry is already paying their respect and tribute before the host exits next year.

Possible replacement are already in selection, some speculations that David Letterman's protege will be one of the candidates. There are also some ideas of hiring a female late night host, which will be make the male dominated show more interesting. Some options on the list includes Tina Fey and Ellen DeGeneres.

Comments from the proposed individuals to replace David Letterman has no comments yet. CBS will probably announce the official candidate next year, following the retirement of David Letterman. He can be out in 2015, but he will be leaving a lot of memories and funny antics from the long years he has contributed to the late night show industry.

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