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Tolkien was a scholar first and a writer second, or perhaps a writer who was inevitably a scholar. For the bulk of his professional life, he worked as a professor of Anglo-Saxon and later as a professor of English Language and Literature at Merton College, Oxford. His academic salary, while sufficient for a comfortable middle-class life, was not designed to make anyone rich. For decades, he toiled in relative obscurity, grading exams and lecturing on Beowulf while nurturing the private mythology that would eventually become Middle-earth. The publication of *The Hobbit* in 1937 provided a modest boost, but it was the explosion of popularity following the release of *The Fellowship of the Ring* in 1954 that truly changed his financial trajectory. Even then, the wealth was tied up in the hardback editions published by Allen & Unwin, and the royalty rates of the era were not comparable to modern publishing fortunes.
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