Net Worth Ranker
What Is Paul Newman’s Net Worth?
At the time of his death in 2008, Paul Newman’s net worth was estimated to be $80 million. This figure reflects his successful career as an actor, director, producer, entrepreneur, and philanthropist.
Early Life and Career Beginnings
Paul Leonard Newman was born on January 26, 1925, in Shaker Heights, Ohio. He developed an interest in acting at a young age, performing in school plays and at the Cleveland Play House. After graduating from high school in 1943, he briefly attended Ohio University before serving in the United States Navy during World War II. Following his military service, Newman earned a Bachelor of Arts degree in drama and economics from Kenyon College in 1949. He then toured with theatre companies and studied at the Yale School of Drama before training at the Actors Studio in New York City.
Acting Career and Major Film Successes
Newman’s acting career began on Broadway with the 1953 production of “Picnic.” He made his television debut in “Tales of Tomorrow” and his film debut in “The Silver Chalice” in 1954. His career gained momentum with roles in films like “Somebody Up There Likes Me,” “Cat on a Hot Tin Roof,” and “The Long, Hot Summer.” In the 1960s, he starred in critically acclaimed films such as “The Hustler,” “Cool Hand Luke,” and “The Towering Inferno.” One of his most iconic roles was in “Butch Cassidy and the Sundance Kid,” co-starring Robert Redford. In the 1980s, Newman starred in “The Verdict” and “The Color of Money,” winning an Academy Award for the latter. He returned to Broadway in the 2000s with “Our Town” and had his last film role in “Road to Perdition.” His final television appearance was in the 2005 HBO mini-series “Empire Falls,” and he voiced Doc Hudson in the 2006 animated film “Cars.” He officially retired from acting in 2007.
Motorsports Career and Achievements
Inspired by his role in the 1969 film “Winning,” Newman developed a passion for motorsports. He began his professional racing career in 1972 at the Thompson International Speedway and became known for competing in Sports Car Club of America (SCCA) events, winning four national championships. In 1979, he drove a Porsche 935 at the 24 Hours of Le Mans, finishing in second place. From the mid-1970s to the early 1990s, he was part of the Bob Sharp Racing team, competing in the Trans-Am Series. Even at the age of 70, he continued to race, with his team winning events such as the 24 Hours of Daytona. His last major races were the Baja 1000 and the 24 Hours of Daytona in 2005. He was also known for the Newman Freeman Racing team, which competed in the Can-Am series. In 2009, he was posthumously inducted into the Sports Car Club of America Hall of Fame.
Philanthropic Ventures: Newman’s Own
In 1982, Paul Newman founded Newman’s Own, an organic food company that sells products such as pasta sauces, lemonade, and salsa. All post-tax profits from the company are donated to charity. As of this writing, Newman’s Own has donated over $600 million to various charities. In addition to the donated funds, the foundation also controls more than $200 million to be given away in the future. This philanthropic endeavor significantly contributed to Paul Newman’s legacy.
Real Estate Holdings
During their marriage, Paul Newman and Joanne Woodward owned several properties, including a 6.8-acre estate in Westport, Connecticut, which served as their primary residence. They also owned a penthouse in Manhattan from the 1980s onward. In December 2024, Joanne Woodward listed the Manhattan penthouse for $9.95 million.
Rolex Auction and Watch Value
In 2017, a Rolex wristwatch previously owned by Paul Newman sold for $18 million at an auction. The watch had been expected to sell for around $1 million. A portion of the proceeds from the auction went towards the Newman’s Own Foundation. This sale set a record for the most expensive wristwatch ever sold at auction, reflecting the immense value associated with Paul Newman’s name and legacy.
Personal Life and Relationships
Newman’s first marriage was to Jackie Witte in 1949. They had three children before divorcing in 1958. He then married Joanne Woodward in 1958, after meeting her five years earlier during a Broadway play production. Together, they had three children and raised them in Westport, Connecticut. Newman and Woodward remained married until his death in 2008.
Death and Legacy
Paul Newman passed away on September 26, 2008, after battling lung cancer. The cancer was attributed to his smoking habit, which he had quit in 1986. His diverse career, spanning acting, motorsports, and philanthropy, contributed to his estimated $80 million net worth at the time of his death. The ongoing success of Newman’s Own continues to amplify his philanthropic impact, ensuring his legacy of giving endures. The combined charitable donations and assets under the Newman’s Own Foundation control exceeds $800 million, demonstrating the long-term influence of Newman’s vision.
