Will Smith is an actor, movie producer, and rapper who has been one of the world’s most recognizable and popular figures for decades. Will Smith has a net worth of $350 million as of this writing.
Will Smith makes a minimum of $40 million per year from his numerous ventures and has made as much as $80 million. For instance, Will earned $45 million from his many pursuits between June 2019 and June 2020, largely film salaries.
Will made between $20 and $30 million each film during the pinnacle of his career in the 2000s. He has received enormous single-film payments from Netflix in recent years.
According to reports, he made $20 million for the Netflix film “Bright” in 2017 and $35 million for its sequel.
He is also a social media celebrity. As of this writing, Will has over 45 million Instagram followers, 8 million YouTube subscribers, and 30 million TikTok followers.
Will Smith Childhood
Will Smith grew up in West Philadelphia, the son of a school administrator and a refrigerator engineer. Jeffrey Allen Townes, a prominent local DJ who became known as DJ Jazzy Jeff, was one of his boyhood pals.
They met by coincidence when Jeff needed a hype guy for performance down the street. Smith leaped at the opportunity, and the two struck up an immediate rapport. They would later create DJ Jazzy Jeff & The Fresh Prince.
In 1986, they grabbed the attention of Russell Simmons, who signed them to Def Jam Records. In 1987, they released their self-titled first 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 runaway success, selling over three million copies. The pair would collaborate on five albums in all.
Will won the inaugural Grammy for the newly established Rap category in 1988.
Will Smith IRS Issues
Will Smith made around $10 million from his musical career between 1988 and 1990. Assuming that the good times would remain indefinitely, Will spent his money as if it were going out of style. He acquired homes, automobiles, clothing, and jewelry, among other things.
He not only indulged himself; he spoilt his friends and family. Regrettably, radio audiences were becoming bored of Will and Jazzy Jeff around the time he won the Grammy. Their “radio-friendly” tracks were instantly derided as “rap sellouts.”
Additionally, Will was not paying his taxes during the boom years. Will was notified at the age of 21 that he had failed to pay $2.8 million in taxes during his fat years. That equates to almost $6 million in debt when inflation is factored in.
Around this time, super-producer Quincy Jones approached Will about starring in a television program.
At first, Will was adamantly opposed to starring in a television sitcom. He was concerned that this would further cement his reputation as a sellout. On the good side, the job came with a substantial salary.
If the program is extended for more seasons, the compensation will increase. Will signed up to star in the newly named comedy “The Fresh Prince of Bel-Air” with the not-so-subtle assistance of the IRS. Additionally, the IRS arranged for 70% of Will’s pay to be withheld until his debt was paid off.
Will Smith Private Life
Will has two children with Jada Pinkett Smith, to whom he has been married since 1997. Their children, Jaden Smith and Willow Smith are both actors. Additionally, he and his first wife, Sheree Amino, have a son named Trey.
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Residential Real Estate
Will and Jada possess about ten properties throughout the United States. The following is a concise list of their most prominent current and defunct properties:
Will and Jada spent $7.5 million in 1999 to purchase a magnificent 100-acre estate in the hills between Malibu and Calabasas, California. They purchased numerous adjacent properties to create 150 acres of continuous land during the next year.
The estate boasts a 20,000-square-foot main home, multiple guest buildings, a private lake, a horse riding ring, equestrian paths, stables, and tennis courts, among other amenities.
They chose a Santa Fe style for the property after falling in love with actor Gene Hackman’s Santa Fe mansion.
They recruited Hackman’s architect in Santa Fe for the project, which was delayed for years due to environmental concerns and permission constraints.
They privately advertised the house for $42 million in 2013 but could not find a buyer. Today, this property is likely valued between $50 and $70 million.
Will and Jada sold their seven-acre oceanfront property on the Hawaiian island of Kauai for $12 million in 2017. They paid $10 million for the multi-family property in 2015.
They sold another oceanfront Hawaiian home on seven acres to Ekaterina Rybolovlev, the daughter of Russian businessman Dmitry Rybolovlev, for $20 million in 2011.
Additionally, they own a 9,000-square-foot property in Hidden Hills, California, and a 9,200-square-foot ski lodge in Park City, Utah.
Will and Jada spent more than $11 million in September 2021 for a 10,400-square-foot property in Hidden Hills, California. The Smiths own at least $100 million worth of real estate worldwide.
Summary
Will Smith’s net worth is estimated to be $350 million. He is one of the highest-paid performers of the previous two decades, earning millions of dollars in single-movie earnings. Will and his wife Jada have amassed an enormous real estate portfolio that spans the country.