Net Worth Ranker
What Is Duane Martin’s Net Worth?
Duane Martin, an American actor and real estate agent, has an estimated net worth of $500,000. This figure is derived from his career in entertainment, real estate ventures, and various assets accumulated over the years. While his career includes notable roles in film and television, his financial history has also seen considerable challenges, including a high-profile bankruptcy.
Duane Martin’s Career and Earnings
Martin’s acting career began in 1990 with a TV appearance in “Moe’s World.” His film debut came in 1992 with “White Men Can’t Jump,” a basketball-themed movie. He followed this with roles in other films such as “Above the Rim,” “Down Periscope,” “Scream 2,” “The Faculty,” “Any Given Sunday,” “Deliver Us from Eva,” and “Ride or Die.” He also had recurring roles in television shows like “Out All Night,” “Getting Personal,” “All of Us,” “Rita Rocks,” and “The Paul Reiser Show.” Notably, he starred in 88 episodes of “All of Us” between 2003 and 2007.
While specific earnings from each role are not publicly available, his consistent work in television and film over the years would have contributed significantly to his income. In 1994, Duane also appeared in the Boyz II Men music video “I’ll Make Love to You.” In 2013, he appeared on the reality show “Real Husbands of Hollywood.” These appearances would have provided additional income streams, supplementing his earnings from more substantial acting roles.
Bankruptcy and Financial Challenges
In April 2016, Duane Martin and his then-wife, Tisha Campbell-Martin, filed for Chapter 7 bankruptcy. The filing revealed staggering debts totaling $15 million against assets of just $313,000. The listed assets included $65,000 in real estate and $248,000 in personal property. Their combined monthly income was reported as $7,655, while their monthly expenses amounted to $16,953, highlighting a significant financial shortfall.
The bankruptcy documents detailed a complex web of liabilities. The couple owed $3 million to Broadway Federal Bank for a real estate loan, $1.5 million to Will Smith as a personal loan, and $9.5 million to the City of Los Angeles for a personal guaranty. Additionally, they owed tens of thousands of dollars in back taxes. These debts paint a picture of significant financial strain, impacting Duane Martin’s overall net worth.
Their assets at the time included a 2014 Range Rover, a 2016 Range Rover, a 1999 Kawasaki Drifter, and a Jeep Wrangler. These vehicles, while assets, represented a fraction of their overall debt. The bankruptcy filing underscored the severe financial difficulties Martin faced, significantly affecting his financial standing.
Real Estate Ventures
Duane Martin’s real estate activities provide further insight into his financial situation. In 2004, he and Tisha Campbell-Martin purchased a vacation home in Lake Arrowhead, California, for $880,000. They sold this property in 2009 for $1.597 million, realizing a profit of over $700,000.
In 2005, they acquired a 9,000 square foot home in Chatsworth, California, for $900,000, which became their primary residence for the next 13 years. Around the time of their divorce filing in 2018, the property was listed for sale at $2.695 million. The sale of this home was complicated by their financial troubles and divorce proceedings.
Legal filings revealed that Duane owed Will Smith $1.5 million from a personal loan related to the Chatsworth property. After purchasing the home for $900,000, Duane borrowed $1.9 million from a bank for renovations or construction. When he defaulted on this loan, he arranged to buy it out from the bank for $1.4 million in 2012, using money borrowed from Will Smith. He then put the home in the name of an LLC and began paying his own company $5,000 per month in rent.
In August 2019, the sale of the Chatsworth property was cleared to proceed, and it was sold in October 2019 for $2.45 million. From the sale proceeds, $1.5 million was paid to Will Smith, $122,000 went to cover home-related debts, and $485,000 was allocated to the bankruptcy estate to pay off creditors. The buyer had to sign a document confirming they did not personally know Duane, Tisha, Will, or Jada Pinkett Smith.
Divorce and Settlement
Tisha Campbell-Martin filed for divorce from Duane Martin in February 2018 after 22 years of marriage. In a September 2018 court filing, Tisha claimed to have $1.5 million in assets but lacked a steady income source. She stated her monthly expenses totaled $33,000, while Duane’s monthly income exceeded $62,000. Tisha alleged that Duane hid money during their marriage and that he owned $750,000 worth of t-shirts (500 shirts valued at $1,500 each).
The divorce was finalized in December 2020. According to the settlement terms, neither party would receive spousal or child support. Tisha retained a leased home and a leased 2020 BMW, while Duane kept a separate leased home, a leased Bentley, and two motorcycles. The absence of spousal or child support payments indicates a mutual agreement regarding their financial responsibilities post-divorce.
Will Smith Allegations and Loan
In November 2023, a man named Brother Bilaal, claiming to be a former assistant and close friend of Will Smith, made allegations on a YouTube interview with Tasha K, alleging that he witnessed Duane Martin having sex with Will Smith. Smith’s representatives denied the allegations, and Jada Pinkett Smith indicated plans to sue Bilaal.
Notably, when Duane filed for bankruptcy in 2016, one of his largest debts was a $1.5 million personal loan from Will Smith. This loan was reportedly related to the Chatsworth property. The situation adds a layer of complexity to Duane Martin’s financial narrative, intertwining his personal relationships with his financial obligations. It is also worth mentioning that Tasha K, the interviewer, faced a defamation lawsuit from Cardi B, resulting in a $4.25 million judgment against her.
Duane Martin’s early life and NBA dreams
Duane Martin was born in Brooklyn, New York in August 1965. His early life details beyond this information are not extensively public. He attended New York University and played college basketball. In 1989, he was signed as an undrafted free agent to the National Basketball Association’s New York Knicks. However, he was cut from the team, which led him to shift his focus toward acting. This transition marks a pivotal point in his career, as he moved from pursuing a career in professional sports to one in the entertainment industry.
Recurring Roles and TV Appearances
Beyond his film roles, Duane Martin has established himself through recurring roles on various television series. These roles have provided steady income and contributed to his visibility in the entertainment industry. His role in the CW/UPN series “All of Us,” which aired 88 episodes over four seasons from 2003 to 2007, stands out. While the specific earnings per episode or season are not publicly disclosed, recurring roles are typically lucrative and provide a stable income source.
Additionally, Martin has appeared in shows like “Out All Night,” “Getting Personal,” “Rita Rocks,” and “The Paul Reiser Show.” While these roles may have been smaller or shorter-lived than his role in “All of Us,” they still contributed to his overall income and helped him build a consistent career in television. His appearance on the reality show “Real Husbands of Hollywood” in 2013 further diversified his income streams.
Duane Martin’s Acting Milestones and Nominations
Duane Martin’s career milestones include his early roles in significant films like “White Men Can’t Jump” and “Above the Rim,” which established him as a recognizable face in Hollywood. These roles provided him with opportunities to take on more substantial roles in the future. While the specific earnings from these early roles are not publicly available, their significance in launching his career cannot be understated.
Martin has received nominations for a Daytime Emmy Award, an NAACP Image Award, and two BET Comedy Awards. These nominations, while not resulting in wins, highlight his talent and recognition within the industry. Awards and nominations often lead to increased opportunities and higher earning potential.
Duane Martin’s Personal Life and Habits
Duane Martin married actress Tisha Campbell in 1996. They have two sons together. Their separation in 2018 and subsequent divorce in 2020 were highly publicized, especially given their financial challenges and bankruptcy. Details about Martin’s personal life and habits, beyond his marriage and career-related activities, are not extensively available in the public domain.
His financial issues and the allegations surrounding his personal life have undoubtedly affected his public image and career opportunities. Navigating these challenges requires resilience and strategic career management.
Assets and Investments of Duane Martin
As of the bankruptcy filing in 2016, Duane Martin’s listed assets included $65,000 in real estate and $248,000 in personal property. These assets, while significant, were overshadowed by his substantial debts. The real estate asset likely referred to his share in the Chatsworth home, which was eventually sold to pay off creditors.
Other listed assets included a 2014 Range Rover, a 2016 Range Rover, a 1999 Kawasaki Drifter, and a Jeep Wrangler. These vehicles contributed to his asset base but were insufficient to offset his liabilities. Specific details about other investments or assets owned by Duane Martin are not publicly available.
The sale of the Chatsworth home in 2019 for $2.45 million helped to alleviate some of his debt, with $1.5 million going to Will Smith and $485,000 to the bankruptcy estate. However, this sale also marked a significant loss of equity and demonstrated the extent of his financial difficulties. All of these factors significantly shape his financial standing and net worth.
Duane Martin’s Net Worth: Summary
In summary, Duane Martin’s estimated net worth is $500,000. This figure reflects his earnings from a career in acting and real estate, offset by significant debts and financial challenges, including a high-profile bankruptcy. His career milestones and recurring roles have contributed to his income, but financial missteps and personal challenges have impacted his overall net worth.
The intricacies of his real estate ventures, loans, and divorce settlement further highlight the complexities of his financial situation. While he has achieved recognition in the entertainment industry, his financial history underscores the importance of sound financial management and the potential impact of debt on one’s overall net worth. The story of Duane Martin and his net worth serves as a reminder of the importance of responsible financial planning and the challenges that can arise even in successful careers.
