KEY POINTS

  • Will Smith's net worth is $350 million
  • Smith took home $100 million off the success of “Men in Black”
  • He had problems with the IRS when he was younger

Will Smith’s net worth is $350 million. Not everyone knows he started from the bottom before he hit superstardom status.

Smith was born on September 25, 1968. A native of Philadelphia, he started his career as a rapper in the ‘80s, partnering with a childhood friend DJ Jazzy Jeff. The two hit it off and formed DJ Jazzy Jeff & The Fresh Prince. The duo was signed to a deal and released their first album in 1987. It became such a huge hit that a second album was made the year after and went on to sell at least three million copies. In 1988, Smith and DJ Jazzy Jeff won a Grammy, per Celebrity Net Worth.

will smith ali
Will Smith stars as Muhammad Ali in 2001’s “Ali.” Columbia Pictures

When things started to look up for them, Smith encountered problems with money. As a young man who tasted commercial success, he was not aware how things could quickly go south in the showbiz industry. Soon, the IRS demanded that he pay the taxes he owed which was worth around $6 million at the time. The rapper had no choice but to accept a role in a TV series to pay for the taxes. It turned out to be a blessing in disguise for him.

"The Fresh Prince of Bel Air" became popular and it helped him get back on his feet. There was no looking back for him. Smith was able to leverage his success on TV to get movie roles. Among the blockbuster movies he starred in are "Ali," "The Pursuit of Happyness," "Men in Black," "Wild Wild West," and "Bad Boys," among others. When he reprised his role for the "Bad Boys" sequel in 2003, he was paid $20 million.

A-list actors such as Will Smith are always in demand because they bring in massive returns for movie houses. Some of the rewards come from a percentage of total ticket sales of movies they star in. When "Men in Black" raked in $624 million worldwide, Smith was able to pocket as much as $100 million.

Aside from occasional rapping and starring in blockbuster films, the multitalented artist is also busy producing films and TV shows. He owns the Overbrook Productions with wife Jada Pinkett Smith and film producer James Lassiter. According to Insider, the production company was responsible for "To All The Boys I've Loved Before," "I, Robot," "The Karate Kid," "Annie," and "Gemini Man."

The Smiths own several multimillion properties in California and Utah. Smith’s son, Jaden Smith, is following in the footsteps of his famous father. The younger Smith has appeared in movies and produced albums. Willow Smith, the couple’s daughter, is also an artist herself. She writes and produces songs and is into acting as well. Smith also has a son with ex-wife Sheree Zampino, named Trey.

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