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You probably know that Will Smith is one of the wealthiest people in the entertainment industry. Since the 1980s he has been a household name and his involvement in massive shows like The prince of Bel-Air or franchises like Men in black increased his fortune to a huge amount.
On top of that, his famous family also has their own shares of wealth from their various projects. It is clear that with the success he has had for so long, he must have achieved millionaire status decades ago.
But when and how did Smith make the great wealth he has today? Was it his 1990s success in action movies like Men in black and Independence day who made him his first million? Or was it her first role on The prince of Bel-Air? Or was it something else?
How did Will Smith get famous?
Today, Smith is best known for his acting career. However, those who were in the 1980s and 90s may also remember him as a rapper. In 1985, when Smith was just 17, he and his friend Jeff Townes founded hip-hop duo DJ Jazzy Jeff & The Fresh Prince.
Smith was actually still in high school when they had their first big hit and were discovered by a major record label. A few years later, they won a Grammy Award for their single “Parents Just Don’t Understanding”.
Throughout the 1990s, the rap duo continued to be more successful. But Smith would move from the music industry to acting in 1990, when he would start acting on The prince of Bel-Air. The sitcom became a huge success and launched Smith into an acting career that continues today.
Smith’s first million
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So where did Smith’s first million come from?
According to The Things, Will Smith made his first million when he was twenty – two years before The prince of Bel-Air even broadcast. His music and that of DJ Jazzy Jeff were hugely popular, and that’s what made Smith such a fortune when he was so young.
Their debut album, Rock the House, was certified gold, and their follow-up, He’s the DJ, I’m the rapper, reached platinum 3 times. With this level of business success, it’s no wonder Will Smith made his fortune at a young age.
Financial problems?
Perhaps due to Smith’s young age when he entered Riches, he didn’t handle it as well as he could have.
Royalties Parents just don’t understand gave him a lot of money to spend on things like designer clothes, luxury cars and motorcycles. Smith even had a Gucci store shut down so he and his friends could go shopping in private.
However, this meant that Smith did not have much money left to pay his taxes. The IRS realized how much Smith owed, and Smith ran out of money to pay what he owed. The IRS came and took back what he had bought, but it still wasn’t clear. Smith owed the IRS nearly $ 3 million.
But maybe there is a silver lining in this story. Because Smith was so desperate to find a way to bounce back and earn enough money to pay off his debt to the government, he went to NBC to examine acting roles.
And in 1990 he signed as a star of the sitcom The prince of Bel-Air, which would bring him into the world of theater and make him the superstar he is today.
So maybe Smith should thank his young self for being a little irresponsible with his money!
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