Eddie Murphy is a household name in the entertainment industry. From his iconic roles in “Beverly Hills Cop,” “Coming to America,” and “The Nutty Professor,” to his stand-up comedy specials, Murphy has been a fixture in Hollywood for decades. However, despite his fame and success, not much is known about his personal finances. Today, we’ll uncover five financial secrets of Eddie Murphy, including his spending habits, investments, and net worth.
He’s a Savvy Real Estate Investor
One of the biggest secrets to Eddie Murphy’s net worth is his impressive real estate portfolio. Over the years, Murphy has invested in numerous properties, including several multi-million dollar mansions and estates. One notable purchase was a $20 million mansion in Englewood, New Jersey, which he later sold for $12 million.
Murphy also reportedly owns a $15 million Beverly Hills mansion, a $5 million home in Long Island, and a sprawling estate in Granite Bay, California. In addition to these properties, he’s also owned homes in New Jersey, Atlanta, and Maui.
He’s Careful With His Spending
Despite his immense wealth, Murphy is known for being careful with his spending. In fact, he’s been quoted as saying that he’s never been a big spender. Instead, he prefers to invest his money wisely and live a relatively modest lifestyle.
Murphy’s frugal habits include driving an older car (he’s often seen in his classic Mercedes-Benz SLS AMG), shopping at discount stores, and avoiding flashy purchases. While he does indulge in some luxuries, such as private jets and high-end watches, he’s mostly focused on building wealth through smart investments.
He’s Made Some Smart Investments
Speaking of investments, Eddie Murphy is known for being a shrewd investor. Over the years, he’s invested in a variety of ventures, including tech startups, real estate, and even a coffee chain.
One notable investment was his purchase of a 10% stake in the streaming service Netflix back in 2015. At the time, Murphy’s decision to invest in the company was seen as risky, but it paid off in a big way. Today, that 10% stake is worth over $400 million.
Murphy has also invested in companies like Fizzit, a social media platform for comedians, and Picturestart, a film and TV production company. While not all of his investments have been successful, his overall track record is impressive.
He’s Diversified His Income Streams
Another key to Eddie Murphy’s financial success is his diversified income streams. While he’s best known for his work in movies and TV, he’s also made money from stand-up comedy, music, and even voiceover work.
Murphy’s most recent project, “Coming 2 America,” was a hit for Amazon Prime Video, and he’s reportedly planning to produce and star in several more films in the coming years. Additionally, he’s continued to perform stand-up comedy, with plans for a new tour once COVID-19 restrictions lift.
He’s Generous With His Wealth
Finally, Eddie Murphy is known for being generous with his wealth. He’s donated millions of dollars to various charities and causes over the years, including the AIDS Foundation and the Martin Luther King Jr. Center for Nonviolent Social Change.
In addition to these philanthropic endeavors, Murphy has also been known to help out his friends and family. He’s reportedly helped pay for his brother’s cancer treatment and has given financial support to other loved ones in need.
Net Worth and Legacy
Eddie Murphy now has an estimated net worth of over $200 million thanks to his illustrious career. He says that he prefers to pay with credit cards, hardly ever carrying cash. Murphy added that he knows how much he’s worth down to the dime. “I’m completely on top of that,” he said. “It’s an obsession. One of my major fears has always been that I’d get that call: ‘Your accountant’s gone with all your money!’ That kind of s*** is spooky, so I know where every dime of my money is, and no one can sign checks for me.”
At this point in his career, though, Murphy has said that he’s not going for film roles simply for the cash. “I told you guys, I’m not doing any more money grabs,” he said. “I’m not doing any more movies that (are) like, ‘Oh, he clearly just did this movie for a check.’ I’m not doing any of those. Only when it’s right. And this thing took four years to get right.”