Terrence Howard Net Worth (Money & Salary)
Terrence Howard Net Worth (Money & Salary)
February 4, 2025
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What is Terrence Howard’s Net Worth and Salary?
With a net worth of $4 million, Terrence Howard is an American actor and musician who received an Oscar nomination. Despite having the potential for greater wealth, he has faced various financial and marital challenges throughout his life, which will be explored in more detail below.
Beginning his film career in the 1980s, Terrence Howard secured his first significant role in 1995 in “Dead Presidents” and “Mr. Holland’s Opus.” His successful acting career includes appearances in films like “Ray” (2004), “Crash” (2004), “Hustle and Flow” (2005), and “Get Rich or Die Tryin'” (2005). In addition to acting, he ventured into music with the release of his album “Shine through It” in 2008. That year also marked his Broadway debut in the all-black rendition of Tennessee Williams’ “Cat on a Hot Tin Roof.”
Empire Salary & Lawsuit
Terrence portrayed Lucious Lyon on the hit Fox series “Empire” from 2015 to 2020. In a lawsuit filed against his talent agency, CAA, in late 2023, he revealed that during his time on the show, he earned $125,000 per episode, which increased to $325,000 in the final season. With 18 episodes in that season, his gross earnings totaled $5.85 million.
As mentioned earlier, in December 2023, Terrence initiated legal action against CAA for breach of fiduciary duty. He asserted that the agency had a conflict of interest while negotiating his pay since it also represented the show’s producers. Howard alleged that the agency influenced him to accept a below-standard salary due to its backend interest in the series, aiming to maximize profits. This type of agency packaging was essentially prohibited in 2020. In his lawsuit, he highlighted that his pay was lower than that of Jon Hamm and Kevin Spacey, whose respective series—Mad Men and House of Cards—were far less popular than Empire in terms of ratings. Terrence further pointed out that at the height of Empire’s success, it outperformed even shows like the Big Bang Theory in ratings, yet he earned less than its star, Jim Parsons.
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IRS Issues
Over the years, Howard has encountered numerous IRS-related problems. In 2016, he faced a $600,000 IRS lien. Additionally, in 2010, he received a tax bill of $1.1 million. Reports in June 2019 indicated that Terrence and his on-again, off-again wife, Mira, were under investigation for tax evasion, and that same year, he faced $143,000 in liens. In March 2024, it was reported that the IRS was once again pursuing Terrence for an allegedly unpaid tax bill, ordering him to pay $900,000 concerning $578,000 in overdue taxes across five tax returns submitted between 2010 and 2019. Terrence did not appear in court or defend himself in the matter.
Iron Man Salary
& Controversy
In 2008, for “Iron Man,” Terrence received $3.5 million, making him the highest-paid actor in the film and the first lead cast member to be recruited. In contrast, Robert Downey Jr. only made $500,000, and Terrence has asserted that Robert would not have landed the role without his influence.
In various interviews, Terrence has stated that he was initially contracted for $4.5 million for “Iron Man,” but he voluntarily accepted a $1 million reduction in pay to help secure the title role for Downey. He argues that the producers initially considered Clive Owen for the role of Iron Man and refused to see Robert Downey Jr. due to the high insurance costs stemming from his past controversies. Terrence contends that he proposed sacrificing $1 million so Robert could receive $500,000 while the other $500,000 would address Downey’s insurance fees. As is known, Downey ultimately earned hundreds of millions portraying Iron Man, whereas Terrence did not return for subsequent films.
Furthermore, Terrence has mentioned in interviews that he had a three-picture deal with Marvel, which initially promised him $4.5 million for the first film, $8 million for the second, and $12 million for the third, totaling $24.5 million. Before “Iron Man 2,” Marvel supposedly contacted his agent, demanding that Terrence accept $1 million instead of the agreed $8 million. Terrence claims that the agent exclaimed, “F*!@& You,” and then cut off the conversation. Subsequently, Marvel cast Don Cheadle for the sequel, and according to Terrence, began to circulate rumors suggesting he was let go due to being hard to work with. He mentioned reaching out to Robert multiple times in hopes of gaining his support, as he had previously done, but unfortunately, Robert never returned Terrence’s calls. The two would later reconnect years later at Brian Grazer’s wedding in 2016. By then, Terrence was starring in “Empire,” and Robert reportedly apologized while remarking that “at least everything worked out in the end.”
Early Life
On March 11, 1969, in Chicago, Illinois, Terrence Dashon Howard was born. His mother, Anita, was just 15 when he came into the world, and by the age of two, he witnessed a violent incident in which his father, Tyrone, stabbed a man with a nail file during a visit to see Santa Claus at a Cleveland department store. The incident resulted in the man’s death, and Tyrone spent 11 months in prison for manslaughter. Following Tyrone’s release, Terrence’s parents divorced, leading him to spend his childhood split between Cleveland with Tyrone and Los Angeles with Anita. He has two brothers, Antonio and Tyrone Jr., along with a half-brother, Darnell, and a half-sister, Ariana. His great-grandmother, actress Minnie Gentry, fostered his passion for acting. Terrence gained emancipation at the age of 16 and later enrolled in chemical engineering at Pratt Institute in Brooklyn, although he left before completing his degree. As a teenager, he was diagnosed with Bell’s palsy, claiming to have cured it through facial shocks.
Pascal Le Segretain/Getty Images
Career
Audiences first encountered Terrence in the ABC miniseries “The Jacksons: An American Dream,” where he portrayed Jackie Jackson. Prior to that, he made guest appearances on well-known shows such as “Family Matters,” “Living Single,” “Coach,” and “Picket Fences.” His breakthrough came in 1995 with films like “Mr. Holland’s Opus” and “Dead Presidents.” Between 1996 and 1998, he had a starring role in the UPN sitcom “Sparks,” and in 1999, he featured in “The Best Man,” a performance that earned him an NAACP Image Award along with nominations.received compensation of just $200,000. Fredrick alleged that the amount she was owed was the result of an agreement made between her and Howard regarding his payment for her services. In addition, in 2019, Terrence was involved in a legal dispute with his former business partner, who accused him of fraud and breach of contract.
From the Black Reel Awards, Chicago Film Critics Association, and Independent Spirit Awards, Terrence’s career has garnered numerous accolades. Notably, in 2004, he featured in “Crash,” which led to multiple supporting actor awards and nominations for Howard, who also shared a Screen Actors Guild Award with his fellow cast members. His performance as aspiring rapper Djay in “Hustle & Flow” earned him a nomination for the Best Actor Academy Award, while the song “It’s Hard Out Here for a Pimp” that he performed in the film won the Academy Award for Best Original Song.
In the 2008 film “Iron Man,” Terrence took on the role of Colonel James Rhodes, becoming the highest-paid actor in the movie. However, for the sequel, producers offered him $1 million, a significant drop from the $8 million stated in his contract, leading to his replacement by Don Cheadle. From 2010 to 2011, Howard appeared as a regular on “Law & Order: LA,” and he later acted in films such as “Winnie Mandela” (2011), where he portrayed Nelson Mandela, “The Butler” (2013), and “The Best Man Holiday” (2014). In 2015, he secured a role in the hit series “Empire,” where he appeared in 102 episodes, and his portrayal of the dying hip-hop mogul Lucious Lyon earned him a BET Award. Alongside his film work, Howard received various nominations and awards for the TV movies “Boycott” (2001) and “Lackawanna Blues” (2005) and made appearances in music videos for artists like Madonna, Mary J. Blige, and Ashanti. In September 2019, Terrence declared his retirement from acting.
(Photo by Jason Kempin/Getty Images)
Personal Life
From 1989 to 2003, and again from 2005 to 2007, Terrence was married to Lori McCommas. Together, they had three children: daughters Aubrey and Heaven, and son Hunter. In 2010, he married Michelle Ghent, but in February 2011, she filed for divorce, which was ultimately finalized in 2013. The subsequent year, Ghent sued him for $325,000, alleging that he owed her unpaid spousal support. Howard contended that he was coerced into signing an unjust agreement and claimed he could not afford the payments, as he was only earning $5,800 monthly. In court, he disclosed that most of his income was directed towards supporting his children with his first wife, stating that he was technically on her payroll, receiving $5,800 monthly from her account after meeting his obligations. The judge annulled the original divorce agreement in 2015 but restored it in 2017.
In 2013, Howard married Mira Pak, and they welcomed two sons: Qirin (born in 2015) and Hero (born in 2016). Although the couple divorced in 2015, they became engaged again in December 2018.
Lawsuits
Terrence faced legal troubles, including an arrest in 2000 for assaulting a flight attendant and another for punching, harassing, and stalking McCommas in 2001. Ghent obtained restraining orders against him in 2011 and 2013 based on claims of assault. Additionally, in 2008, composer Tex Allen filed a $5 million lawsuit against Howard, claiming he attacked him during a rehearsal for “Cat on a Hot Tin Roof.”
In 2012, Howard’s former manager, Victoria Fredrick, issued a lawsuit asserting she was owed $137,500 for her services while managing him during the production of Winnie and Fighting. At that point, Howard had earned a total of $2.75 million, while Fredrick only received $200,000 in payment.
felt entitled to a share. Furthermore, the lawsuit asserted she deserved a portion of the earnings from several high-profile films in which Howard starred during her employment, including Hustle and Flow, Iron Man, and Get Rich or Die Tryin’. As if that weren’t sufficient, she also claimed a share in over 100 potential films still in the pre-production phase!
Howard responded to the lawsuit with seriousness, clarifying that although Victoria Fredrick was indeed one of his employees, her role was simply that of a “personal manager,” tasked with duties such as handling phone calls and running errands for the actor. He stated she was neither a business manager nor had any involvement in the management of his career, challenging her claim to a share of his film earnings. According to Howard, he had compensated Fredrick fairly for her services (which reportedly included commissions from his acting roles), and he insisted her contrary assertions were untrue and made in bad faith.
Yet, rather than pursuing the matter in court, they reached an undisclosed settlement a few days ago. Regardless of the settlement amount, it was likely significantly lower than the six-figure sum Fredrick initially sought in her lawsuit.
Awards and Honors
Howard has received over 30 awards for his performances, including 2 BET Awards (in 2006 and 2015), a Black Movie Award (2005), and a Satellite Award (2005). He has garnered 12 nominations for NAACP Image Awards, triumphing in 2000, 2006, 2011, and 2016. Additionally, Terrence has been recognized by the African-American Film Critics Association and has received honors from several critics associations in cities such as Austin, Florida, Los Angeles, Phoenix, Vancouver, and Washington, D.C. In 2019, he was awarded a star on the Hollywood Walk of Fame.
Pascal Le Segretain/Getty Images
(Photo by Jason Kempin/Getty Images)
The data provided originates from 2023 and 2024, while the forecasting extends into 2025 and 2026. Additionally, we have broadened the forecast range to include 2027 and 2028.
* This information was taken from various sources around the world, including these countries:
Australia, Canada, USA, UK, UAE, India, Pakistan, Philippines, Indonesia, Nigeria, Tanzania, Kenya, US, United Kingdom, United States of America, Malaysia, U.S., South Africa, New Zealand, Turkey, United Arab Emirates.
Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antarctica, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan.
Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Bouvet Island, Brazil, British Indian Ocean Territory, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi.
Cambodia, Cameroon, Canada, Cape Verde, Cayman Islands, Central African Republic, Chad, Chile, China, Christmas Island, Cocos (Keeling Islands), Colombia, Comoros, Congo, Cook Islands, Costa Rica, Cote D’Ivoire (Ivory Coast), Croatia (Hrvatska), Cuba, Cyprus, Czech Republic.
Denmark, Djibouti, Dominica, Dominican Republic, East Timor, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Ethiopia, Falkland Islands (Malvinas), Faroe Islands, Fiji, Finland, France, Metropolitan, French Guiana, French Polynesia, French Southern Territories.
Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guadeloupe, Guam, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Heard and McDonald Islands, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Iran, Iraq, Ireland, Israel, Italy.
Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, North Korea, South Korea, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Lesotho, Liberia, Libya, Liechtenstein, Lithuania, Luxembourg.
Macau, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Monaco, Mongolia, Montserrat, Morocco, Mozambique, Myanmar.
Namibia, Nauru, Nepal, Netherlands, Netherlands Antilles, New Caledonia, New Zealand (NZ), Nicaragua, Niger, Nigeria, Niue, Norfolk Island, Northern Mariana Islands, Norway.
Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn, Poland, Portugal, Puerto Rico, Qatar, Reunion, Romania, Russia, Rwanda, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and The Grenadines, Samoa, San Marino, Sao Tome and Principe.
Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, Somalia, South Africa, South Georgia and South Sandwich Islands, Spain, Sri Lanka, St. Helena, St. Pierre and Miquelon, Sudan, Suriname, Svalbard and Jan Mayen Islands, Swaziland, Sweden, Switzerland, Syria.
Taiwan, Tajikistan, Tanzania, Thailand, Togo, Tokelau, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Uganda, Ukraine, United Arab Emirates (UAE), UK (United Kingdom), USA (United States of America, U.S.), US Minor Outlying Islands.
Uruguay, Uzbekistan, Vanuatu, Vatican City State (Holy See), Venezuela, Vietnam, Virgin Islands (British), Virgin Islands (US), Wallis and Futuna Islands, Western Sahara, Yemen, Yugoslavia, Zaire, Zambia, Zimbabwe.
Terrence Howard Net Worth (Money & Salary)
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