Inside the Money Trail Behind TV’s Most Mysterious Treasure Hunt
Lunenburg, Nova Scotia — The curse of Oak Island may be legend, but the cost of unearthing its secrets is very real. After more than a decade on air, the hit History Channel series The Curse of Oak Island has sparked a question among viewers: who is actually footing the bill for the multi-million-dollar excavation?
The answer is a complex web of television money, private investment, and old-fashioned passion.
The Network’s Role
The show is produced by Prometheus Entertainment, a Los Angeles–based company behind numerous reality hits. Prometheus covers the lion’s share of production costs: filming crews, equipment rentals, logistics, and cast salaries. The History Channel, through parent company A+E Networks, funds the production in exchange for broadcast rights.
Put simply, the TV network pays for the show — but not for all of the digging.
The Lagina Brothers’ Fortune
Enter Rick and Marty Lagina, the Michigan-born brothers who became the face of Oak Island. Rick, a retired postal worker, brought the dream. Marty, an engineer and energy mogul, brought the cash.
Marty’s fortune — estimated at nearly $100 million from oil, gas, and renewable energy ventures — has financed many of the heavy-duty digs. From high-pressure drilling rigs to ground-penetrating radar, much of the big machinery seen on screen comes from Marty’s wallet, not History’s.
“Without Marty’s money, none of this scale of exploration would be possible,” says one crew member.
The Rest of the Team
Other key figures also bring their own financial muscle and expertise:
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Craig Tester: Marty’s longtime business partner, with a fortune in the tens of millions, invests heavily in excavation engineering.
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Dan Blankenship (1923–2019): A Florida contractor who devoted his life savings to Oak Island, becoming part-owner before his passing.
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The Fellowship of the Dig: Including researcher Doug Crowell, historian Charles Barkhouse, and treasure hunters Jack Begley and Dave Blankenship — most receive appearance fees, but are not believed to be large-scale investors.
Who Owns Oak Island?
Much of the land is controlled by Oak Island Tours Inc., co-owned by the Laginas and their partners. This company leases rights to the production while also maintaining control of the island’s operations.
The Bottom Line
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History Channel pays for the TV show.
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The Laginas (mainly Marty) bankroll the treasure hunt itself.
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Other investors like Craig Tester contribute funds and expertise.
It’s a blend of Hollywood and private fortune, stitched together by the dream of solving a 200-year-old mystery.
Is It Worth It?
The big question: does the show make more money than the treasure costs?
Industry analysts estimate The Curse of Oak Island generates millions annually in advertising and global syndication. For History, the series has been a ratings goldmine. For the Laginas, it’s both a passion project and, increasingly, a savvy investment.
As Rick Lagina once put it, “If we don’t find treasure, at least we’ve written history.”
