How Much Bank Balance Tom Hanks Holds? Is His Net Worth $400 Million?
Tom Hanks Net Worth
He has a net worth of $400 million and is a well-known actor, director, writer, and producer from the United States. Tom Hanks is without a doubt one of the most well-known, highly admired, and well-paid actors in the history of Hollywood.
Hanks has earned more over $4.6 billion at the domestic box office throughout the course of his career. As of the time of this writing, his worldwide box office gross is estimated to be approximately $9.7 billion. He is also the world’s highest-earning movie star, with the highest and most consistent box office earnings.
Tom Hanks Early Life
Tom Hanks grew up in the San Francisco Bay Area, near his family’s home. The Great Lakes Theater Festival offered him an internship that turned into a three-year committment after he completed his studies in theatre at a community college and at California State University at Sacramento.
Upon relocating to New York, he was cast in the cross-dressing sitcom Bosom Buddies, which ran for two seasons and earned him a co-starring role. Following that, he landed a string of supporting roles in feature films.
Tom Hanks’ meteoric rise to stardom began in 1988 with his performance in the successful film Big, which garnered widespread attention. From that moment on, he made a career out of pushing the boundaries of genre. Among his notable cinematic roles are Sleepless in Seattle, Apollo 13, Toy Story, You’ve Got Mail, Saving Private Ryan, Cast Away, The Da Vinci Code, and Angels & Demons, to name a few examples.
After winning the Academy Award for Best Actor in 1993 and 1994, Hanks became only the second actor in history to win the award for Best Actor in consecutive years. In 1993, he earned an Academy Award for his role as an HIV-positive attorney in the film Philadelphia.
He earned the Academy Award for Best Actor in 1994 for Forrest Gump, in which he portrayed the title character. That Thing You Do!, written and directed by Hanks in 1996, marked the beginning of his filmmaking career as a producer and director, as well as a writer.
His subsequent films include Cast Away, The Polar Express, and several others, all of which he directed or produced. From 1978 to 1987, Hanks was married to Samantha Lewes, whom he divorced in 1989. In 1988, he tied the knot with actress Rita Wilson. He is the father of four children, two of which are actors Colin Hanks and Chet Haze.
Tom Hanks Salary
Tom’s first substantial salary was from the 1984 film Splash, for which he received $70,000. After adjusting for inflation, that equates to almost $172,000 today. Tom received $1.75 million for his work on Big four years later, in 1988. That’s the equivalent of around $4 million now. In the same year, he received $5 million for the film “Punchline.” That’s the equivalent of $11 million in today’s money. Tom’s income remained in the stratosphere from the late 1980s to the present.
During the year 1993, Tom was filming Forrest Gump, for which he was expected to receive a $7 million paycheck. The movie had gone drastically over budget at some point during the production process.
Instead of seeing the film’s progress halted, Tom volunteered to forego his income in exchange for “first dollar” backend points at the end of the shoot. In that case, he was entitled to a part of the box office receipts payable to Paramount after the theatre owners had taken their cut and before the studio began deducting expenditures.
When Forrest Gump went on to become a massive box office success, Tom reaped the rewards handsomely. In the first year alone, his backside points were worth over $70 million, which is the equivalent of approximately $120 million in today’s dollars. It is still by far his largest acting payday, as well as one of the richest acting payouts in the history of the entertainment industry.
The film Saving Private Ryan brought in $40 million for Tom, followed by $20 million for each of the films You’ve Got Mail, Cast Away, and The Green Mile. For The Da Vinci Code, he earned $18 million, and for its sequel, Angels & Demons, he received $50 million.
To put it another way, between 1988 and 2010 alone, Tom earned around $300 million in film salaries. After adjusted for inflation, the amount is approximately the same as $450 million. In the coming decade, he is expected to make at least another $100 million. Tom has most likely earned at least $400 million in movie salaries over the course of his career, assuming no inflation is taken into consideration. This does not include remuneration for producing and directing work.
Tom Hanks Real Estate Assets
Tom and Rita purchased a big seaside property in the ultra-exclusive Malibu Colony for $2.95 million in April of 1991, a record for the couple at the time. The vendor was John Frankenheimer, a well-known film director. Today, this house is most certainly worth $20 million, if not more, in monetary terms. During the month of January 2010, Tom and Rita spent $26 million to purchase a home in the Pacific Palisades neighbourhood of Los Angeles that would become their primary abode.
In May 2017, Tom and Rita sold two Palisades residences that were side by side for a total of $18 million. Using a San Francisco-based lawyer and a limited liability company, the buyer proceeded to demolish the two residences in order to make space for a very big single mansion, which was later demolished as well. Aside from this house, Tom and Rita own at least five other properties in the Pacific Palisades.
Tom and Rita own a ski chalet in Sun Valley, Idaho, which is about an hour outside of Los Angeles.
The Hanks/Wilson real estate asset portfolio is estimated to be valued at least $150 million in total.
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