Net Worth Ranker
What Is Terrence Howard’s Net Worth?
Terrence Howard, the American actor and musician, has an estimated net worth of $4 million. This figure reflects a career spanning several decades, marked by both significant financial successes and considerable monetary challenges.
Terrence Howard’s Earnings From Film and Television
Howard’s career began in the 1980s, but it was in 1995 that he gained prominence with roles in “Dead Presidents” and “Mr. Holland’s Opus.” His salary for the 2008 film “Iron Man” was $3.5 million, making him the highest-paid actor in the film. He claims he took a $1 million pay cut to secure Robert Downey Jr. the lead role.
From 2015 to 2020, Terrence Howard starred as Lucious Lyon in the Fox drama “Empire”. According to a lawsuit filed against his talent agency, CAA, Howard’s salary started at $125,000 per episode. By the final season, his salary had increased to $325,000 per episode. With 18 episodes in the final season, his gross earnings for that season totaled $5.85 million.
Legal Battles and Financial Issues Impacting Terrence Howard’s Net Worth
In December 2023, Terrence Howard sued CAA for breach of fiduciary duty, alleging a conflict of interest in negotiating his “Empire” salary. Howard claimed the agency pushed him to accept a lower salary due to their backend interest in the series, aiming to maximize profits. He noted that his “Empire” salary was less than what Jon Hamm and Kevin Spacey earned for “Mad Men” and “House of Cards,” respectively, despite “Empire’s” higher ratings.
Howard has also faced several IRS issues. In 2016, he was reportedly hit with a $600,000 IRS lien. Prior to that, in 2010, he reportedly received a $1.1 million overdue tax bill. In June 2019, he and his then-wife, Mira Pak, were reportedly under investigation for tax evasion, and he was subjected to $143,000 worth of liens. In March 2024, he was ordered to pay $900,000 as part of a tax evasion case related to $578,000 in unpaid taxes over five tax returns filed between 2010 and 2019.
After “Iron Man,” Terrence Howard claimed he had a three-picture deal with Marvel, initially set to pay him $4.5 million for the first movie, $8 million for the second, and $12 million for the third, totaling $24.5 million. He alleges that before the second “Iron Man,” Marvel offered him only $1 million instead of $8 million. The role was then given to Don Cheadle, with rumors spreading that Howard was difficult to work with.
Details on Early Life, Career, and Personal Life
Terrence Dashon Howard was born on March 11, 1969, in Chicago, Illinois. At the age of two, he witnessed his father stabbing a man, who later died. His parents divorced after his father’s release from jail. Howard was emancipated at 16 and later studied chemical engineering at Pratt Institute but dropped out.
Howard’s early career included a role in the ABC miniseries “The Jacksons: An American Dream,” where he played Jackie Jackson. He guest-starred on shows like “Family Matters,” “Living Single,” “Coach,” and “Picket Fences.” Success came in 1995 with “Mr. Holland’s Opus” and “Dead Presidents.” From 1996 to 1998, he starred on the UPN sitcom “Sparks.” In 1999, he appeared in “The Best Man,” earning an NAACP Image Award.
In 2004, he starred in “Crash,” which earned him several supporting actor awards. He was nominated for a Best Actor Academy Award for his portrayal of Djay in “Hustle & Flow,” and “It’s Hard Out Here for a Pimp” (which he performed in the film) won the Academy Award for Best Original Song. In 2008, he played Colonel James Rhodes in “Iron Man” and was the movie’s highest-paid actor; for the sequel, he was offered a significantly lower salary, leading to his replacement with Don Cheadle. From 2010 to 2011, Howard was a series regular on “Law & Order: LA” and landed a role on “Empire” in 2015, appearing in 102 episodes. Terrence announced his retirement from acting in September 2019.
Howard’s personal life has been eventful. He was married to Lori McCommas from 1989 to 2003 and again from 2005 to 2007, having three children together: Aubrey, Heaven, and Hunter. His marriage to Michelle Ghent in 2010 ended in divorce in 2013, followed by a lawsuit from Ghent for unpaid spousal support. Howard’s third marriage was to Mira Pak in 2013. They have two sons together, Qirin (born in 2015) and Hero (born in 2016). They divorced in 2015 but remarried in December 2018.
In 2000, Howard was arrested for assaulting a flight attendant, and in 2001, for assaulting and harassing Lori McCommas. Ghent was granted restraining orders against Howard in 2011 and 2013 due to claims of assault. In 2008, composer Tex Allen sued Howard for $5 million after an alleged attack during a “Cat on a Hot Tin Roof” rehearsal.
Awards and Recognition
Terrence Howard has received over 30 awards, including 2 BET Awards (2006 and 2015), a Black Movie Award (2005), and a Satellite Award (2005). He has been nominated for 12 NAACP Image Awards, winning in 2000, 2006, 2011, and 2016. He received a star on the Hollywood Walk of Fame in 2019.
