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Lord of the Rings director Peter Jackson’s foray into visual effects through his shop Weta Digital has paid off big time. The New Zealand-based firm, which he cofounded to provide effects for Heavenly Creatures (1994), grew into a Hollywood powerhouse, providing computer-generated imagery for everything from Wolverine (2013) to the 2019 remake of Lady and the Tramp. On Tuesday, Weta announced that a chunk of its assets were being sold for $1.6 billion to Unity Software, which makes software for videogames. Forbes conservatively estimates the deal officially makes Jackson a billionaire. Jackson, along with his life partner Fran Walsh, own a controlling 60% stake in Weta, according to New Zealand regulatory filings. Unity, which is traded on the New York stock exchange, is paying a billion in cash, the rest in stock, which translates to about $600 million in cash and $375 million in stock for Jackson, who also directed King Kong (2005) and the three Hobbit movies (2012-14). Read the full story on Forbes: https://www.forbes.com/sites/lisettev... Subscribe to FORBES: https://www.youtube.com/user/Forbes?s... Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: / forbes Forbes Video on Instagram: / forbes More From Forbes: http://forbes.com Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.