Will Smith Net Worth: He Is an actor, film producer, record producer, television producer, rapper, and screenwriter By profession. Give this article a full read to know his life journey.
Beginnings
Will Smith was born to a school administrator and refrigerator engineer in West Philadelphia. Jeffrey Allen Townes, aka DJ Jazzy Jeff, was a boyhood friend. Jeff needed a hype guy and they met by coincidence.
Smith took the chance, and they had instant chemistry. DJ Jazzy Jeff & The Fresh Prince ultimately formed. Russell Simmons signed them to Def Jam Records in 1986. In 1987, they released “Rock the House.”
Golden album. In 1988, they published “He’s the DJ, I’m the Rapper.” Three million copies were sold. They released five albums. Will won the inaugural Rap Grammy in 1988.
Facts
- Broke during “Fresh Prince”
- First three seasons, IRS stole 70% of his earnings.
- Became world’s highest-paid actor
- Earned millions from film salaries
- Earned $100m from “MIB3” alone
- With Wife Jada Owns $100M in Real Estate
IRS Problems
Will Smith made $10 million from 1988 to 1990. Will spent his money like the good times would last forever. Buying houses, vehicles, clothes, and jewels. He lavished himself, friends, and family.
Radio audiences were growing tired of Will and Jazzy Jeff when he won the Grammy. “Radio-friendly” tracks were called “rap sell-outs”
Will didn’t pay taxes during the boom. At 21, Will learned he owed $2.8 million in taxes from his fat years. Inflation-adjusted, that’s $6 million in debt. Smith stated in 2018:
Being famous and broke is a bad combo because people still recognize you, but on the bus. Quincy Jones approached Will about a TV show around this time. Will initially declined a TV sitcom role. He feared looking like a sellout. The gig paid well.
If the show is renewed, salaries will rise. Will signed on to star in “The Fresh Prince of Bel Air” with IRS encouragement. The IRS garnished 70% of Will’s pay until his debt was settled.
Will told 60 Minutes about his early TV days:
“After three years of The Fresh Prince of Bel-Air, the IRS took 0% of my checks. It’s dreadful to be successful but broke.”
Film Star
Will was paid $500,000 for “Six Degrees of Separation” in 1993, riding high from his famous sitcom.
1995’s “Bad Boys” launched his cinematic career, earning him $2 million. In the sequel, he earned $20 million.
Paychecks
Will made $200 million in movie wages and bonuses between 1993 and 2013. His movie earnings reach $300 million, and may be substantially more if backend deals are accurate.
In 2013, Will earned $20 million in upfront money and $80 million in backend points from Men In Black 3. He had 20% of Bad Boys 2, Hancock, and Pursuit of Happyness.
It’s possible he had 20% of net income, not gross, which would be different. If he has gross points, he made $355 million from those four movies. 2007’s I am Legend earned Will $25 million.
I, Robot netted him $28 million. 2018’s Bright earned him $20 million. Will allegedly earned $35 million for Bright 2.
Smith received $20 million upfront for “King Richard” Warner Brothers put COVID on HBO Max without a large theatre rollout. Warner Brothers gave Smith a $40 million incentive to make up for ticket backend points. His total cinematic earnings were $60 million.
Will Smith’s film Remuneration are shown below:
- Bad Boys: $2 Million
- Independence Day: $5 Million
- Men in Black: $5 Million
- Enemy of the State: $14 Million
- Wild Wild West: $7 Million
- The Legend of Bagger Vance: $10 Million
- Ali: $20 Million
- Men in Black 2: $20 Million Plus 10% of Gross
- Bad Boys 2: $20 Million + 20% of Gross
- I, Robot: $28 Million
- Shark Tale: $15 Million
- Hitch:$20 Million
- Pursuit of Happyness: $10 Million + 20% of Gross
- I Am Legend: $25 Million
- Hancock: $20 Million + 20% of Gross
- Bright: $20 Million
- Bright 2: $35 Million
- King Richard: $60 Million
Career In Music
Smith never abandoned music, releasing four solo albums, two of which went platinum. Smith won two Grammys for Best Rap Solo Performance for “Men in Black” and “Gettin’ Jiggy Wit It.”
Awards And Accolades
Smith was nominated for an Oscar for portraying Muhammad Ali in “Ali” and Chris Gardner in “The Pursuit of Happyness.” Two BET Awards, one Image Award, four MTV Movie Awards, and two People’s Choice Awards.
Will’s Personal Sphere
Will and Jada have two children. Jaden and Willow Smith are actors. Trey is his son with Sheree Ampino.
Real Estate Possessed By Smith
Will and Jada own 10 U.S. properties. Here’s a rundown of their most notable properties:
Will and Jada paid $7.5 million for a 100-acre property between Malibu and Calabasas. Next year, they bought adjoining parcels to create 150 acres of contiguous land.
The property has a 20,000-square-foot main home, guest houses, a private lake, a horse riding ring, equestrian trails, stables, and tennis courts. Willow Smith recorded her debut song, “Whip My Hair,” at the house’s recording studio.
Outside Jada and Will Smith’s residence is a man-made lake, a lagoon-style pool, volleyball, basketball, and tennis courts, and various buildings. They modelled the home after Gene Hackman’s Santa Fe mansion.
Due to environmental concerns and permission difficulties, the project took years to start. In 2013, they listed the property for $42 million but couldn’t sell it. This property is worth $50-$70 million.
Will and Jada sold their 7-acre Kauai seaside compound for $12 million. The multi-home property cost $10 million in 2015. In 2011, they sold a 7-acre coastal Hawaiian property for $20 million to Dmitry Rybolovlev’s daughter Ekaterina.
They possess a 9,000-square-foot property in Hidden Hills, California, and a 9,200-square-foot ski chalet in Park City, Utah. Will and Jada spent $11 million for a 10,400-square-foot Hidden Hills property in 2021.
We know the Smiths own $100 million in real estate worldwide.
How Much Does Will Smith Make?
Will Smith is a notable actor, film producer, and rapper. Will Smith is worth $350 million. Will Smith earns $40 million to $80 million a year from his different enterprises. Will earned $45 million from film salaries between June 2019 and June 2020.
Will made $20-$30 million per film in the 2000s. He’s made huge single-film salaries from Netflix. He made $20 million for “Bright” and $35 million for its sequel.
He’s also popular online. Will has 45 million Instagram followers, 8 million YouTube subscribers, and 30 million TikTok followers.
Summary
He’s worth $350 million. He’s one of the highest-paid performers of the last 20 years, earning hundreds of millions in film alone. Will and Jada own properties across the country.
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