|Full name||Willard Carroll Smith II|
|Birthday||September 25, 1968|
|Will Smith Net worth||$350 million|
|Source of wealth||Films|
|Marital status||Married (Jada Pinkett)|
|Education||Overbrook High School|
|Other names||The Fresh Prince|
Will Smith is an American actor, film producer, and rapper with an estimated net worth of $350 million. Smith began as a rapper and was part of a hip-hop duo called DJ Jazzy Jeff & the Fresh Prince. The duo’s first song “Girls Ain’t Nothing but Trouble” became a hit even before Smith graduated from high school. The Fresh Prince spent his money freely and didn’t care about paying taxes, finally running into a $2.8 million tax debt in 1990. IRS took away his possessions leaving him broke. Amidst his financial crisis, Smith landed a role in the sitcom, The Fresh Prince of Bel-Air making his debut in the film industry.
Will Smith has starred in many films including the 2012 Men in Black 3 for which he reportedly earned $100 million, the highest salary for an actor in a single movie. In 2021 he starred in the film King Richard for which he earned $40 million. Smith won an Academy Award for Best Actor for his role in the film. The actor is one of the most bankable movie stars in Hollywood. As of 2021, his movies had grossed more than $9.3 billion globally. According to Wealthy Gorilla, The Fresh Prince is the 19th wealthiest actor in the world right now.
So, how did Will Smith start and how did he amass a net worth of $350 million?
The making of Will Smith
DJ Jazzy Jeff & the Fresh Prince
Willard Carroll Smith II was born on September 25, 1968, in Philadelphia. His father, Willard Carrol Smith Sr. is a U.S. Air Force veteran while his mother, Caroline is a Philadelphia school board administrator. His parents separated when he was 13 and later divorced when he was 32.
Smith attended a private catholic elementary school in Philadelphia, Our Lady of Lourdes, and later joined Overbrook High School. Smith began rapping at the age of 12. He later formed a hip hop duo with Jeffrey “DJ Jazzy Jeff” Townes, a friend from his childhood. They named the duo DJ Jazzy Jeff & the Fresh Prince. The two released their first single Girls Ain’t Anything but Trouble in 1986, even before Smith graduated from high school.
In 1986 the duo released their debut album, Rock the House. In 1989 they won their first Grammy Award for Best Rap Performance for their song, Parents Just Don’t Understand which was released the previous year. The duo continued to experience success for their music and went on to win their second Grammy in 1991 for their track Summertime. The track peaked at number 4 on the U.S Billboard Hot 100.
The Fresh Prince of Bel-Air
Between 1988 and 1989 Will Smith spent his money extravagantly and underpaid his income taxes. By the time The Internal Revenue Service (IRS) finally caught up with him, he had a tax debt of $2.8 million. Most of his assets and income were seized to recover the debt, leading to his financial struggles. Luckily, Smith secured a contract with the NBC television network in 1990 to star in the sitcom, The Fresh Prince of Bel-Air. The tv series was successful and helped Smith launch his acting career.
Smith went on to secure major roles in the 1993 drama Six Degrees of Separation and the 1995 action film Bad Boys. The latter was a commercial success, grossing $140 million globally. In 1997 he starred in the science fiction action-comedy film Men in Black which grossed $589 million globally and was the third best-grossing film that year. In the same year, the actor began his solo music career with the release of the track “Men in Black” which was the theme song for the Men in Black film. His third single “Getting’ Jiggy wit It”, released in 1998 peaked at number one on the U.S Billboard Hot 100.
How does Will Smith make his millions?
The Fresh Prince has made most of his fortune from movies. Will Smith together with his wife have a combined net worth of about $400 million. According to Celebrity Net Worth, the actor made $20 – $30 million per movie at the peak of his career in the 2000s. Today he makes at least $40 million every year. In 2020 with $44.5 million in earnings, he was named by Forbes the world’s 8th best-paid actor in the world. He was also ranked the 69th highest-paid celebrity in the world that year. Celebrity Net Worth reports that Smith made about $200 million in a span of 20 years between 1993 to 2013 for his roles in various films.
Today Will Smith’s movies have grossed more than $9.3 billion at the box office. His top 5 highest-grossing films have earned a total of $3.86 billion. Independence Day (1996) grossed $817.4 million, Hancock (2008) grossed $629.4 million, Men in Black 3 (2012) grossed $624 million, Suicide Squad (2016) grossed $746.8million while Aladdin (2019) grossed $1.05 billion.
Salaries from films
In 2012, the actor starred in the film Men in Black 3 and reportedly earned $100 million, his biggest paycheck to date. The movie grossed more than $624 million globally and was the 10th best-grossing film of 2012. In November 2021, Smith starred in the film King Richard, playing the role of King Richard Williams, the father of tennis superstars Serena and Venus Williams. According to yahoo life, he made a cool $40 million from the film. The actor also made a whopping $71.4 million for playing Chris Gardener in the 2006 drama The Pursuit of Happyness.
According to Parade, Will Smith made $20 million from Suicide Squad (2016), $27 million from the Netflix film Bright (2017), $12.5 million from Gemini Man (2019), and $7 million for his role in Wild Wild West (1999). He also pocketed $15 million from Shark Tale (2004), $25 million for I Am Legend (2007) as well as $5 million for Independence Day (1996), and $5 million for his role in Men in Black. Men in Black II which grossed a total of $441.8 million worldwide earned Smith about $20 million.
Social media & investments
According to a 2021 report, Will Smith earns about $338,200 for every post he makes on Instagram. He has more than 63 million followers and 1,300 posts on the platform. He also reportedly makes about $21,000 for a single post on Tik Tok where he has more than 60 million followers. Will Smith owns a stake in Gen. G after investing $46 million in the esports company in 2019. Gen. G is the world’s 6th most valuable esports company as of 2020 with a valuation of $185 million. The actor owns Overbook Entertainment, a movie production company he founded in 1998. The company has produced films such as I Robot, Gemini Man, and Ali.
How does Will Smith spend his fortune?
Will Smith owns a $2.5 million custom Rental Vehicle dubbed “The Heat” — which he mainly uses when he’s on movie sets. He used “The Heat” to chill when filming Men in Black 3, The Pursuit of Happyness, and Ali. The 22-wheeled RV has 14 tv screens, more than $30,000 worth of leather seating and furniture and can expand to two stories with the touch of a button. The motor home has more than 1,200 square foot of floor space with a kitchen that’s decked out with granite countertops worth about $200,000. The technology inside the portable home is worth about $125,000.
Will Smith is the owner of a cherry red 1965 Ford Mustang, a $600,000 customized Rolls Royce ghost, a Maybach 57 S Class, a Bentley Yoder convertible, a $75,000 Cadillac escalade, a Lincoln Navigator, a BMW i8 hybrid, and a Ford Taurus.
Will Smith with his wife own a 25,000 square foot mega-mansion in Calabasas, California — which is their main residence. The $42 million estate sits on 150 acres and features 9 bedrooms, a full-size basketball court, a home theatre, an outdoor pool, a tennis court, an eight-car garage as well as a volleyball court and a recording studio. The estate is so big that it has its own zip code. The couple bought the land in 2003 and spent 7 years building their dream home.
Their latest home purchase is an $11.3 million mansion in Hidden Hills, California which they purchased in 2021. The 10,400 square-foot property features six bedrooms, six bathrooms, nine half bathrooms, and a pool on the outside. Will and Jaden own another 8,000 square-foot mansion in Bryn Mawr, Pennsylvania which they acquired back in 1997 for $937,500, according to Architectural Digest. Smith also owned a 2,215 square foot oceanfront property in Hawaii which he sold in 2011 for $20 million making a profit of about $6.5 million. He owned another mansion on Kauapea Beach, Hawaii which he bought for $10 million and sold at $12 million.
Vacations, gifts, and philanthropy
In 2019, Will Smith took his entire family on vacation to Europe. They chartered a yacht called “Mischief” and sailed around Greece and Italy. The yacht costs about $500,000 to hire every week. When she turned 16, Smith bought his daughter Willow a $120,000 Porsche Caen Turbo. He also bought a $6 million mansion for his son Jaden.
In 2008, Will Smith and his wife Jada donated $1.3 million to various religious organizations and charitable causes. $250,000 went to the Yesha Ministries of Philadelphia, a born-again Christian-based organization, another $200,000 went to Living Waters, a Los Angeles-based Christian ministry, and $122,500 to the Church of Scientology religion. The New York Rescue Workers Detoxification also received $67,500 while the Progeria Research Foundation received $25,000.
Will Smith was part of an investment group that bought the NBA team The Philadelphia 76ers in 2011 for $280 million.
Will Smith is married to Jada Pinkett, an American actress. The two met in 1994 on the set of The Fresh Prince of Bel-Air. They began dating in 1995 and got married on December 31, 1997. They have two kids, Jaden Christopher Syre Smith (born 1998) and Willow Camille Reign Smith (born 2000). Will Smith also has another son Willard Carroll “Trey” Smith III (born 1992) from his first marriage to Sheree Zampino. Smith and Sheree married in 1992 and divorced in 1995.
Will Smith has a net worth of about $350 million. He’s one of the world’s richest movie stars. Smith has made most of his fortune from films. Below are a few quotes from Will Smith which I thought could inspire you.
- “Whatever your dream is, every extra penny you have needs to be going to that.”
- “I know how to learn anything I want to learn. I absolutely know that I could learn how to fly the space shuttle because someone else knows how to fly it, and they put it in a book. Give me the book, and I do not need somebody to stand up in front of the class.”
- “My first record came out while I was a senior in high school, which is dangerous.”
- “Throughout life people will make you mad, disrespect you, and treat you bad. Let God deal with the things they do, cause hate in your heart will consume you too.”
- “I had a hit single on the radio for 30 days before I graduated from high school.”
- “I’ve always considered myself to be just average talent and what I have is a ridiculous insane obsessiveness for practice and preparation.”