5 Financial Secrets of Will Smith: Spending, Investments, and Net Worth
Will Smith is one of Hollywood’s most successful actors and entrepreneurs, known for his hit movies like “Men in Black”, “Independence Day” and “The Pursuit of Happyness.” He has built an empire over the years and his net worth is estimated to be around $350 million according to Wealthy Gorilla. While many of us can only dream of having such a large net worth, there are things we can learn from Will Smith on how he manages his finances. Today, we’ll explore five financial secrets of Will Smith: Spending, Investments, and Net Worth.
Strategic Spending Habits
One of Will Smith’s financial secrets is his strategic spending habits. He’s not afraid to spend money, but he does it in a smart way. In an interview with Esquire, Will Smith revealed that he has two bank accounts: one for spending and one for saving.
He budgets his spending account based on what he can afford to lose and ensures that all his expenses are covered before moving any funds to his savings account. “Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like,” Smith famously said about spending.
Smith also invests heavily in his own personal development. He takes classes, attends seminars, and reads books to improve his skills and knowledge. This investment in himself has paid off in spades, as he has been able to create more opportunities and income streams for himself over the years.
Diversified Investment Portfolio
Another financial secret of Will Smith is his diversified investment portfolio. Smith has invested in various industries such as film production, real estate, and technology. His investments are spread across different companies, reducing his risk exposure.
In addition, Smith also invests in startup companies through his venture capital firm, Dreamers VC. The firm focuses on funding startups in areas such as artificial intelligence, virtual reality, and social media.
Real Estate Investments
Real estate investments are another financial secret of Will Smith. He has invested in various properties including homes, apartments, and commercial buildings. Smith has also flipped properties in the past for a profit.
He once bought a mansion in Calabasas, California for $20 million and sold it for $42 million after making some renovations. Smith also owns multiple properties in Philadelphia where he was born and raised, including a renovated mansion that he purchased for $4.5 million.
Philanthropy and Giving Back
Giving back is an important part of Will Smith’s financial philosophy. He has donated millions of dollars to various charities over the years, including the Make-A-Wish Foundation, the Lupus Foundation of America, and the Will and Jada Smith Family Foundation.
In addition, Smith and his wife Jada Pinkett Smith have also created their own charitable organization, the Will and Jada Smith Family Foundation. The foundation focuses on issues such as education and youth empowerment. Smith believes that giving back is not just good for the community, but also for his personal growth.
Net Worth and Future Financial Goals
Will Smith’s net worth is estimated to be around $350 million according to Wealthy Gorilla. However, this doesn’t mean he’s done growing his wealth. Smith has stated in interviews that he has aspirations to become a billionaire, and he’s taking steps to make that happen.
One of his financial goals is to create a media empire that will rival that of Disney. He’s already started working towards that goal by producing movies and TV shows through his production company, Overbrook Entertainment.
In addition, Smith is also exploring new income streams by partnering with companies such as Airbnb and launching his own brand of water, Just Water.