Will Smith Net Worth 2022: Income, Salary, Career, Awards!

Early Life

Will Smith, the son of a school administrator and a refrigerator engineer, was born and reared in West Philadelphia. Jeffrey Allen Townes, a prominent local DJ who became known as DJ Jazzy Jeff, was one of his childhood pals. They met by coincidence when Jeff needed a hype man for performance down the street. Smith leaped at the opportunity, and the two hit it off right away. DJ Jazzy Jeff & The Fresh Prince was the name of the group they finally formed.

They caught Russell Simmons’ year at Def Jam Records in 1986, and he signed them to a deal. In 1987, they published their debut album, “Rock the House.” The album was certified gold. In 1988, they published their second album, “He’s the DJ, I’m the Rapper.” It was a huge success, selling over three million copies. The duo would collaborate on five albums in all.

Will won the inaugural Grammy for the newly established Rap category in 1988.

Will Smith Net Worth’s and Salary

Will Smith is an actor, film producer, and rapper who has been one of the world’s most well-known and popular figures for decades. Will Smith has a net worth of $350 million as of this writing. Will Smith makes at least $40 million a year from his different ventures and has made as much as $80 million in some years. Will, for example, earned $45 million between June 2019 and June 2020 from his many pursuits, largely film salaries.

Will earned $20 – $30 million for each film at the height of his success in the 2000s. Netflix has paid him large single-film salaries in recent years. He is said to have made $20 million for the Netflix film “Bright” in 2017 and $35 million for the sequel.

He’s also a bit of a social media sensation. Will has almost 45 million Instagram followers, 8 million YouTube subscribers, and 30 million TikTok followers as of this writing.

KEY FACTS
  • Was broke while filming “Fresh Prince”
  • IRS took 70% of his paycheck for the first three seasons
  • Eventually became the highest-paid actor in the world
  • Has earned hundreds of millions of dollars from film salaries
  • Earned $100 million from “MIB3” alone
  • With wife Jada, owns $100 million worth of real estate

IRS Problems

Will Smith’s musical career earned him around $10 million between 1988 and 1990. Will proceeded to spend his money like it was going out of style, assuming that the good days would stay forever. He bought mansions, vehicles, clothes, jewellery, and a lot of other things. He not only spoiled himself but also his friends and family. Unfortunately, radio listeners were growing tired of Will and Jazzy Jeff around the time he won the Grammy. Their “radio-friendly” tunes were being mocked as “rap sell-outs” all of a sudden.

Will Smith Net Worth
Will Smith’s Net Worth

Will was also, however, not paying his taxes during the boom. Will was informed at the age of 21 that he had failed to pay $2.8 million in taxes during his fat years. After adjusting for inflation, that equates to nearly $6 million in debt.

Quincy Jones, a super-producer, approached Will about starring in a television show around this time. Will was first adamantly opposed to the concept of appearing in a sitcom. He was frightened of appearing even more of a sellout as a result of this. On the good side, the job came with a substantial salary.

The compensation would increase if the show was renewed for another season. Will signed up to star in the newly titled sitcom “The Fresh Prince of Bel-Air” with the IRS’s not-so-subtle urging. Will’s wages were also withheld for 70 percent of his salary until his debt was paid off, according to the IRS.

Will said the following about his early TV days in an interview with 60 Minutes years later:

“The IRS took 70% of every check for the first three years of The Fresh Prince of Bel-Air, but after the third year, I was back to zero. It’s a shame to achieve such a level of achievement only to be broke.”

Film Star

Will was paid $500,000 to star in “Six Degrees of Separation” in 1993, while still riding high on the success of his hit sitcom.

In 1995, he received $2 million for co-starring in the successful action-comedy “Bad Boys.” Years later, he’d be paid $20 million to reprise his role in the sequel.

Read More:

Biggest Paychecks

Will made $200 million in movie wages and bonuses over 20 years, from 1993 to 2013. As of this writing, his film revenues have easily surpassed $300 million, with the possibility of much more if any of his rumored backend arrangements prove to be true. Will’s biggest verified paycheck was from Men In Black 3 in 2013 when he received a $20 million upfront compensation and $80 million in backend points thanks to his 10% portion of the profit. He was also said to own 20% of the profits from Bad Boys 2, Hancock, and Pursuit of Happiness. Though it’s plausible that he had 20% of net profits rather than gross profits, which would be drastically different percentages. If he had gross points, he would have made $355 million from just those four films.

Will was paid $25 million for I Am Legend in 2007.

The $28 million he earned for I, Robot was his highest upfront pay. He was paid $20 million to star in Netflix’s Bright in 2018. Will reportedly received $35 million from Netflix to reprise his part in Bright 2.

Music Career

Smith never stopped doing music, and he recorded four solo albums, two of which went platinum while working on his films. Smith enjoyed a string of successful hits, including “Men in Black” and “Gettin’ Jiggy Wit It,” which earned him two Grammy Awards for Best Rap Solo Performance in a row.

Awards

Smith was nominated for an Academy Award twice, once for portraying Muhammad Ali in “Ali” and once for portraying Chris Gardner in “The Pursuit of Happyness.” Smith has two BET Awards, one Image Award, four MTV Movie Awards, and two People’s Choice Awards among his accolades.

Personal Life

Will Pinkett has two daughters with his wife, Jada Pinkett, to whom he has been married since 1997. Jaden Smith and Willow Smith, their children, both work in the entertainment sector. With his first wife, Sheree Ampino, he had a son named Trey.

Real Estate

Will and Jada have a total of ten properties around the United States. Here’s a list of their most well-known current and former properties:

Will and Jada spent $7.5 million in 1999 to buy a beautiful 100-acre estate in the hills between Malibu and Calabasas, California. They bought other adjoining parcels over the next year to create 150 acres of contiguous land. A 20,000-square-foot main house, multiple guest houses, a private lake, a horse riding ring, equestrian trails, stables, tennis courts, and other amenities can be found on the site. After falling in love with actor Gene Hackman’s Santa Fe home, they decided to create the property in the same manner. They recruited Hackman’s Santa Fe architect for the project, which took years to get off the ground due to environmental concerns and permission restrictions. They privately advertised the house for $42 million in 2013 but were unable to find a buyer. This property alone is probably worth $50–$70 million now.

Will and Jada sold their 7-acre oceanfront compound on the island of Kauai for $12 million in 2017. They paid $10 million for the multi-family property in 2015. In 2011, they sold a 7-acre oceanfront Hawaiian property to Ekaterina Rybolovlev, the daughter of Russian businessman Dmitry Rybolovlev, for $20 million.

In addition, 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 just over $11 million for a 10,400-square-foot property in Hidden Hills, California, in September 2021.

The Smiths own at least $100 million in real estate around the world, according to what we know.

Summary

Will Smith has a $350 million net worth. He is one of the highest-paid performers of the previous two decades, with move salaries alone totaling hundreds of millions of dollars. Will and his wife Jada have a sizable real estate portfolio, with properties throughout the country.

Leave a Comment