Will Smith Net Worth

What Is Will Smith Net Worth? Does He Get The Highest Paychecks?

In this post, you will read about Will Smith net worth, career, and other details. In the 2000s, at the height of his fame, Will’s movie paychecks averaged $20 million to $30 million. His recent years have been marked by enormous one-film salaries from Netflix. Reported earnings for the 2017 Netflix film “Bright” were $20 million, with a reported $35 million for the film’s sequel. He made $60 million for “King Richard,” including bonuses.

He also has a moderate following on various social media platforms. Will currently boasts over 45 million Instagram followers, 8 million YouTube subscribers, and 30 million TikTok followers.

Will Smith Early Life

Will Smith is the son of a school administrator and a refrigerator engineer, and he grew up in West Philadelphia. DJ Jazzy Jeff, formerly known as Jeffrey Allen Townes, was a childhood buddy of his who became a successful local DJ. When Jeff was performing down the street and needed a hype man, chance brought them together.

Smith enthusiastically embraced the opportunity, and the two hit it off right away. DJ Jazzy Jeff & The Fresh Prince would become their group’s name. Def Jam Records executive Russell Simmons saw potential in the group in 1986 and signed them to a contract.

The group’s first full-length album titled simply “Rock the House,” was released that same year. The album was certified gold. They came out with their second album, “He’s the DJ, I’m the Rapper,” in 1988. A total of over three million copies were purchased, making it a huge success. During their time working together, the duo would issue a grand total of five albums. Will received the inaugural Grammy in the then-new Rap category in 1988.

Will Smith Controversies With The IRS

Will Smith made around $10 million from his music career between 1988 and 1990. Will spent like there was no tomorrow, confident that his good fortune would continue indefinitely. He spent money on a variety of items, including residences, automobiles, wardrobes, jewelry, and more.

And it wasn’t just himself and his loved ones whom he pampered with his excesses. Unfortunately, radio listeners were growing tired of Will and Jazzy Jeff just as he won the Grammy. The immediate stigma of being called “rap sell-outs” followed them when they released radio-friendly tracks.

Will, regrettably, did not pay his taxes even during the boom times. At the age of 21, Will found out that he owed the government $2.8 million in back taxes from his chubby years. A debt of that amount, when adjusted for inflation, is equivalent to about $6 million today. In an interview given in 2018, Smith discussed his struggles by saying:

To paraphrase a famous person: “Being famous and broke is a horrible mix because you are still famous and people recognize you, but they notice you while you are sitting next to them on the bus.”

Super-producer Quincy Jones approached Will about appearing in a TV show around this time. At first, Will was completely against being the star of a TV comedy. He was petrified that this would only make him appear more hypocritical. On the bright side, the job paid well.

Will made the following comments regarding his early days in television during an interview with 60 Minutes.

Will Smith Acting Career

Will Smith Acting Career
Will Smith Acting Career

After the success of his sitcom, Will earned $500,000 to play the lead role in the 1993 film “Six Degrees of Separation,” for which he garnered rave reviews.

In 1995, he co-starred in the blockbuster action-comedy “Bad Boys,” for which he received a $2 million payday, which launched his film career. A sequel was made years later, and he made $20 million for his appearance in it.

Will Smith’s Net Worth

Will Smith has been one of the most recognizable faces in the world for almost two decades thanks to his work as an actor, film producer, and rapper. Will Smith net worth is $350 million at this time of writing.

Will Smith makes at least $40 million a year and up to $80 million a year from his many enterprises. If we take the period from June 2019 through June 2020 as an example, Will earned $45 million from his numerous ventures, largely film salaries.

Highest Paychecks

Will Smith
Will Smith

Will made a total of $200 million in his film career between 1993 and 2013. At the time of this writing, his film earnings are estimated to be well over $300 million, and maybe much more due to backend deals.

Earning $20 million in direct income plus an additional $80 million in backend points from Men in Black 3 as part of his 10% cut of the revenue in 2013 was Will’s biggest verified payment to date. The box office earnings of Bad Boys 2, Hancock and The Pursuit of Happiness were reportedly 20% of his.

However, it’s plausible that the 20% figure refers to net earnings rather than the gross version, which would explain why the two figures diverge so greatly. It’s estimated that he made $355 million from the four films alone if he had gross points.

With the success of I am Legend, Will made $25 million in 2007. He made $28 million for the film I, Robot, which was his biggest single paycheck. In 2018, he made $20 million for his role in the Netflix original film Bright. Will reportedly received $35 million from Netflix to return for Bright 2.

Smith received a guaranteed sum of $20 million for his role in the upcoming film “King Richard,” set to be released in 2021. Warner Brothers’ decision to release the film only on HBO Max rather than in theatres was prompted by the COVID outbreak. Warner Brothers awarded Smith a $40 million incentive to make up for the millions he would have made on movie ticket backside points. As a result, his entire profit from the movie amounted to $60 million.

To get Will Smith to star in “Emancipation,” the studio gave him $35 million up the advance.

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