Terrence Howard Net Worth: $10 Million. Terrence Howard is an American actor, and singer. Howard launched his acting career in the early 90’s and began gaining grounds by the mid-90s. However, his breakthrough would come in the new millennium with films like Crash (2004) and Hustle & Flow (2005) for which he received an Oscar nomination for Best Actor. In more recent years, Terrence Howard is best known for his role as Lucious Lyon on Fox’s hit drama series Empire. Howard’s divorce from his first and second wife took its toll on his net worth. However, Howard has his Empire paycheck which as of 2017 stands at $175,000 per episode to thank for keeping his wealth afloat. We estimate his net worth at $10 million. Read on to discover more.
Terrence Howard Net Worth: How He Began
Terrence Dashon Howard was born on March 11, 1969, in Chicago, Illinois and raised by his both parents in Cleveland, Ohio. Howard had a rocky childhood, suffering from the hands of an abusive father. At the age of 16, he emancipated from his parents and began living off welfare. Following in the footsteps of his great-grandmother Minnie Gentry, who was a stage actress, Howard moved to New York with hopes to begin an acting career.
In New York, he enrolled at Pratt Institute in Brooklyn where he studied chemical engineering, however, he dropped out two years later to focus on acting.
Howard’s first role came in 1992 TV movie “The Jacksons: An American Dream.” After appearing in a string of small roles including in TV shows, Terrence got his first major role in Dead Presidents (1995), and then Mr. Holland’s Opus (1995), the latter of which was more successful, grossing over $106 million from a budget of $31 million.
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Terrence Howard Net Worth: Hollywood Success
In the early 2000’s, Howard starred in a number of box office flops from Angel Eyes to Hart’s War. His only major hit at this time was “Big Momma’s House” (2000) which he starred opposite Martin Lawrence. However, by the mid-2000s, his career began to gain momentum. Howard starred in the highly acclaimed, Oscar-winning drama film “Crash” (2004) which grossed $98.4 million against a $6.5 million budget.
He followed up the success with yet another hit movie Hustle & Flow (2005). For his role, he earned 7 Awards including a BET Award for Best Actor. He also received 11 other award nominations including Golden Globe, Oscar, and SAG. Terrence reportedly received $12,000 for his role. Although a small amount, compared to the movie’s acclaim, it opened the doors to higher paychecks. He earned $40,000 for Idlewild (2006).
Howard’s career hit unprecedented heights in 2008. He forayed into music and Broadway. He also landed a very lucrative role in Marvel Comics superhero film Iron Man, receiving a paycheck of $3.5 million. Howard left the franchise after being asked to take an 80% pay cut for the subsequent sequel. He was replaced by hotel Rwanda star Don Cheadle who received $1 million for the first sequel, “Iron Man 2.”
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What Terrence lost from Marvel, he made up with 2009 sports action film “Fighting” opposite Channing Tatum. Although being a flop, the film brought Terrence $1.75 million. He made $1 million playing Nelson Mandela in “Winnie Mandela” (2011).
Terrence Howard Net Worth: Divorce Issues
Terrence Howard was once estimated to have a net worth of $30 million, however, his two divorces took their toll on his wealth. In 2014, Terrence was dragged to court by his second ex-wife Michelle Ghent to whom he was married for barely a year. Michelle alleged that Terrence was owing $500,000 in back spousal support.
Michelle filed for divorce from Terrence stating domestic abuse and infidelity. During one of the court hearings in 2015, Terrence claimed that he only signed the unfair divorce settlement because he was blackmailed by his ex-wife who threatened to leak damaging information that would have ruined his show business career including that he had an STD.
Terrence also revealed that he was unable to keep to the terms of the agreement because most of his money goes to his first wife Lori McCommas with whom he shares 3 children and that he only received $5,800 from her. Michelle, reportedly filed for a subpoena to obtain Howard’s Empire series contract after discovering that he earned 6 figures per episode of the FOX hit drama. However, there are also speculations that Howard was fabricating his earnings to avoid paying Michelle a dime. The judge called Terrence a “bully” but ruled the case in his favour, dismissing the spousal support
With divorce drama behind him, Terrence is set to achieve much success. He bolsters his Empire earning with a number of big screen roles. Terrence married his third wife Mira Pak in 2013. The couple has two sons.
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