Will Smith Ready To ‘Downsize’ His Reported $350M Net Worth

by Jeroslyn JoVonn

March 28, 2024

Will Smith might be worth a reported $350 million, but he’s ready to “downsize” his millions in a philanthropic way.

Will Smith might be worth a reported $350 million, but he’s ready to “downsize” his millions in a philanthropic way.

The Academy Award-winning actor sat down with Complex’s Speedy Mormon to get candid about his 30-year career spanning across music, television, and film. While Smith, and his wife Jada Pinkett Smith, are known for keeping it real about areas of life most would rather keep private, one area the “King Richard” isn’t speaking openly about his how much money he has.

Credited with earning around $40 million a year from his films alone, and more if you count the 10 to 20 percent he receives in net or gross profits, Smith has reportedly amassed well over $300 million just from his four films “Men In Black 3,” “Bad Boys 2,” “Hancock,” and “Pursuit of Happyness.” But if you ask him what his bank account looks like, he’d rather stay mum.

“I don’t even know, man. I don’t discuss such things,” he said on “360 With Speedy.”

At 55 years young, Smith is aware of his multi-million dollar net worth and can’t even remember the time in his life when he wasn’t famous. After 30 years of fame and fortune, the “Ali” star is now ready to pay it forward by giving back.

“This is the downsize phase of my life. The first half of my life was gather, gather, gather, the second half of my life is gonna be give, give, give,” he said.

Considering the financial woes Smith publicly faced early on in his career by avoiding paying $2.8 million in taxes, he’s learned hard lessons on money management at age 21. Now well into his 50s, the father of three knows firsthand that money can’t buy true happiness.

“People … always have that moment somewhere around 50 where something changes. But what happens is you just realize none of it can make you happy,” he shared. “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.”

Even after reaching the highest levels of Hollywood, getting married, welcoming children, and making people all over the world smile, Smith says the real joy can only come from the inside.

“I’m in that phase of my life that can actually be scary—when you realize that no relationship, that no money, that no kids—there’s literally nothing that can make you happy,” he added.

“That happy is internal, full frontal contact with your dark knight of the soul and you reconcile that you gotta make happy in here,” he said, pointing to his head and then to his heart. “You gotta make happy in here with none of that stuff. You gotta take happy to the people you love—you can’t try to get it from them. … It’s not for the faint of heart.”

Another interesting moment comes around the 26:12 mark when Smith shows Speedy how to find “the meaning of life” by sitting in silence for 30 seconds. Smith and Speedy got deep and enjoyed a guest appearance from Martin Lawrence to talk the “Bad Boys: Ride or Die” film. Press play above for the full interview.