Will Smith Became a Millionaire Before He Could Legally Drink

by Jeremy Spirogis
Will Smith

You most likely know that Will Smith is among the wealthiest folks within the leisure business. Since the 1980s he has been a family identify, and his involvement in huge exhibits like The Fresh Prince of Bel-Air or franchises like Men In Black has grown his fortune to an enormous quantity.

On prime of this, his well-known household even have their very own shares of wealth from their numerous tasks. It’s clear that with the success that he’s had for therefore lengthy, he has to have achieved millionaire standing a long time in the past.

But when and the way did Smith make the big quantity of wealth he has today? Was it his 1990s success in motion movies like Men in Black and Independence Day that made him his first million? Or was it his earlier position on The Fresh Prince of Bel-Air? Or was it one thing else altogether?

How did Will Smith grow to be well-known?

Will Smith
Will Smith | Kevin Winter/Getty Images

Today, Smith is understood largely for his appearing profession. However, those that had been round within the 1980s and ’90s could bear in mind him as a rapper as effectively. In 1985, when Smith was solely 17 years previous, he and friend Jeff Townes began the hip-hop duo DJ Jazzy Jeff & The Fresh Prince.

Smith was really nonetheless in highschool after they had their first massive hit and bought found by a serious file label. Only a couple of years later, they earned a Grammy award for his or her single “Parents Just Don’t Understand.”

Throughout the 1990s, the rap duo would proceed to have extra hits. But Smith would broaden from the music business into appearing within the 12 months 1990, when he would start to star on The Fresh Prince of Bel-Air. The sitcom grew to become an enormous hit, and launched Smith into an appearing profession that continues to this very day.

Smith’s first million

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So the place did Smith’s first million come from?

According to The Things, Will Smith made his first million when he was twenty years previous — two years earlier than The Fresh Prince of Bel-Air even aired. His and DJ Jazzy Jeff’s music was wildly fashionable, and that’s what made Smith such a fortune when he was so younger.

Their first album, Rock the House, was licensed gold, and their follow-up, He’s the DJ, I’m the Rapper, reached platinum three instances. With this stage of business success, it’s no marvel that Will Smith made a fortune at a younger age.

Financial woes?

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Perhaps as a consequence of Smith’s younger age when he got here into wealth, he didn’t handle it in addition to he might have.

The royalties from Parents Just Don’t Understand gave him some huge cash to spend on issues like designer garments, fancy automobiles, and bikes. Smith even had a Gucci retailer closed out so he and his pals might go in for a personal procuring spree.

However, this meant that Smith didn’t have a lot cash left over to pay his taxes. The IRS realized how a lot Smith owed, and Smith didn’t have any money left to repay what he owed. The IRS got here and repossessed what he had purchased, however he nonetheless wasn’t within the clear. Smith owed practically $three million to the IRS.

But maybe there’s a silver lining to this story. Because Smith was so determined to discover a method to bounce again and earn sufficient cash to pay again his debt to the federal government, he went to NBC to look into appearing roles.

And in 1990, he signed on because the star of the sitcom The Fresh Prince of Bel-Air, which might deliver him into the appearing world and made him the celebrity he’s today.

So perhaps Smith ought to thank his youthful self for being a bit irresponsible together with his cash!

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