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Will Smith has been one of the highest-paid actors in the world for years, with a net worth that can buy a couple of nice suites in a bunker in case of an apocalypse. However, the “Bad Boys” Actor recently recalled a time in the 1980s when he was so skint that he was forced to sell everything he owned after the IRS discovered the actor had not paid federal taxes for two years.
Will Smith told The Kid Mero and Carmelo Anthony on their “7PM in Brooklyn” podcast that shortly after winning his first Grammy for Best Rap Performance with “Parents Just Don’t Understand”, he discovered he owed the IRS two years of taxes worth $2.8 million.
Smith said, “I was, like, the IRS gets money from everybody, they don’t need mine – but they felt differently. So I didn’t pay taxes for two years and won a Grammy and all that…so they just thought they should take my stuff. So I was a little down and went out to L.A.”
The I Am Legend Actor added that he sold everything from his Philadelphia home to pay Uncle Sam back. Smith recalled, “I sold everything in Philly. I was broke, broke.”
Will Smith’s net worth in the 1980s revealed
According to celebrity net worth, Will Smith earned approximately $10 million from his singing career between 1988 and 1990. However, he spent the money on houses, cars, clothes, and jewellery, which resulted in trouble with the IRS.
Will Smith was offered “The Fresh Prince of Bel-Air” role during his “broke” days.
As the actor was financially struggling, producer Quincy Jones reported that he approached Smith about starring in a television show “called The Fresh Prince of Bel-Air.” Smith was reluctant to star on T.V. but took the role to improve his financial circumstances. The IRS reportedly garnished his wages until his debt was paid.
In the ensuing years, the actor has left behind his “broke” days and amassed an impressive net worth.
What is Will Smith’s net worth now?
According to Celebrity Net, the actor/rapper and producer is worth $350 million. In 1995, Smith was paid $2 million to star in Bad Boys. In the 2000s, Smith was paid $20 million per movie, including the Bad Boys sequel.
Will Smith’s earnings from endorsements and movies revealed
Smith has reportedly earned between $40 And $80 Million for several years with endorsements and movies. Smith allegedly earned $60 Million, including bonuses for “King Richard.”
His films have grossed over $9 Billion worldwide.
