Will Smith does not know his own net worth when asked on Complex’s “360 with Speedy,” but he expresses that he wants to give away much of his wealth, having obtained and experienced everything he desired up until the age of 50. On March 26, Smith made an appearance on Speedy Morman’s video series, and predictably, Speedy asked his longstanding question where he tries to confirm the estimated net worth of his guests.
When Speedy asked Smith if his net worth was indeed $350 million as most websites reported it to be, the actor and rapper denied it with laughter, saying, “I don’t even know, man. I don’t discuss such things.”
Money’s Not On His Mind
Many celebrities, across various statuses, have rejected online estimates of their net worth. Some, like Rick Ross and Cardi B on “360 with Speedy,” imply that their true net worth surpasses online figures.
When Cardi B was asked about her reported $80 million net worth as a guest, she responded by saying, “I feel like I’ve surpassed the $80 million mark. I earn a significant income. I mean, a lot, a lot, a lot, a lot, a lot, a lot, a lot, a lot of money.”
Others, like Keke Palmer, caution that such estimates may be overhyped, as she revealed her bank balance at the time of her estimation was only $100,000.
Speedy was unable to get Smith to confirm his wealth, but when pressed about his relationship with money, the star expressed that he’s in a phase of his life where accumulating wealth is not a top priority. Instead, he desires to give back, as Complex reported, possibly indicating a more philosophical perspective.
“This is the downsize phase of my life,” Smith said. “The first half of my life was gather, gather, gather, the second half of my life is gonna be give, give, give.”
“People … always have that moment somewhere around 50 where something changes,” he continued. “But what happens is you just realize none of it can make you happy. Once you’ve bought everything you want and there’s literally nothing on earth else that you want to buy, I just wish that was a gift that everybody could have because there’s nothing that material can do to satisfy you.”
Smith has made money in various realms — music, movies, television, investments.
Following a successful music career, he ventured into TV with the hit series “Fresh Prince of Bel Air.” Blockbuster movies followed. According to Screen Rant, since the 1990s, Smith has been one of the highest-paid actors of Hollywood, as he consistently makes between $40 million to $80 million per movie.
He and his wife, Jada Pinkett Smith, have invested in real estate, and he has invested in several companies over the years, including Carol’s Daughter in 2005, his own production company Overbrook Entertainment, as well as co-founding venture capital firm Dreamers VC in 2018.
But Smith wasn’t always responsible it came to money. In the span of 1988 to 1990, Smith amassed a fortune of around $10 million from his music career. But he embraced a lavish lifestyle, splurging on homes, vehicles, apparel, jewelry, and more. He generously treated his friends and family — until he found himself broke and owing the IRS, CNBC reported. He claimed he wound up borrowing $10,000 from a drug dealer to set his debt straight. Luckily, his hit “The Fresh Prince of Bel-Air” TV series was on the horizon, Business Insider reported.
Will Smith’s expression of his philanthropic aspirations comes after a report from Variety that his and his wife Jada Pinkett Smith’s foundation is allegedly set to shut its doors due to declining donations following the infamous Oscars slap incident.
Will and Jada Smith Family Foundation, establish since 1996, states its “mission is to build a first-in-class organization that stands at the intersection of philanthropy and social impact,” it reads on its website. “Our vision is to create a world in which every person is inspired to bravely explore and discover their inner possibility.”
Since the incident of slapping Chris Rock at the 2022 Oscars ceremony, the foundation has experienced a decline as high as 83 percent in 2022 in charitable contributions.
I am a humble man and wouldn’t mind helping him in his efforts. My wife and I would make very good use of it and even need it. Hello Mr. Smith, I’m right here.