In 2021, Will Smith was on top of the world.
One of the biggest movie stars ever, Smith lived in a $42 million mansion so big that it had its own zip code. He was starring in several movies at once including “King Richard,” for which he would win an Oscar in 2022.
Smith had a 501c3 from which he and wife Jada Pinkett dispensed gifts to various charities. Will deposited over $2 million into Will and Jada Smith Family Foundation in 2021. They gave away $881,000.
But then came those 2022 Oscars. A violent Will slapped Chris Rock on stage, live all over the world. He was banned from the Motion Picture Academy for 10 years. Jobs were canceled. He’s never seemed contrite or apologetic.
What happened next to the Foundation?
Later in 2022, Will deposited 365,870 into the 501 c3. Only $200,000 came from him. The balance was donated by his production company. He gave away $336,500.
In 2023, things got worse. Will’s contribution to the foundation was $275,000. Disbursements to other charities were just $215K.
Back in the heyday of the Will and Jada Smith Foundation, the couple gave away millions, created a private school (now closed) that taught Scientology, and contributed to the Nation of Islam.
It’s not like they’re broke. There are reports the Smiths have been selling off extra homes. But just the maintenance of that $42 million spread must be unreal, including property taxes.
Right now, Smith has about a half dozen acting projects in the hopper. But his attempt to revive his music career failed miserably. And it remains to be seen if he’ll ever be accepted in the mainstream again.
