Net Worth Ranker
What Is Gary Coleman Net Worth?
At the time of his death in 2010, Gary Coleman, the American actor best known for his role as Arnold Jackson on the sitcom “Diff’rent Strokes,” had a Gary Coleman net worth of $75,000. Although he achieved considerable financial success early in his career, mismanagement and other factors significantly impacted his overall Gary Coleman net worth.
Early Career and “Diff’rent Strokes” Salary
Gary Coleman’s career began in 1974 with a commercial for Harris Bank. This early exposure led to appearances on CBS dramas like “Medical Center” and sitcoms such as “The Jeffersons” and “Good Times.” However, his big break came with “Diff’rent Strokes” in 1977. Initially, “The Little Rascals” pilot didn’t get picked up, but Coleman’s presence caught the eye of an executive who cast him as Arnold Jackson. “Diff’rent Strokes” became a major hit, running for eight seasons on NBC and ABC. At his peak, Coleman earned $100,000 per episode, making him one of the highest-paid child actors of the time. This translated to approximately $2.5 million per season, equivalent to roughly $6.5 million when adjusted for inflation. He received several accolades, including five Young Artist Award nominations and two wins, along with four consecutive People’s Choice Awards for Favorite Young TV Performer.
Despite his high salary, Gary Coleman only kept about one-fourth of his earnings after payments to his parents, lawyers, advisors, and taxes. This demonstrates the significant financial pressures and obligations he faced even during his most successful years.
Financial and Legal Struggles
Gary Coleman’s career was marked by significant financial difficulties. One of the primary reasons was the misappropriation of his earnings by his parents and business advisors. In 1989, he filed a lawsuit against them, ultimately winning a $1.28 million settlement years later. The lawsuit aimed to recover funds that had been mishandled or taken without his consent. These financial struggles necessitated Coleman to take up part-time jobs to support himself, including working at railroad hobby stores in California, Arizona, and Colorado. These positions provided him with a supplementary income and helped cover his basic expenses.
In 1998, while working as a security guard, Coleman was arrested for assaulting a Los Angeles bus driver who requested his autograph. The incident resulted in Coleman punching the woman several times in the face after an argument ensued. He received a suspended prison sentence and was ordered to pay the woman’s hospital bill and attend anger management classes. These legal troubles compounded his financial issues, adding to his overall stress and burden.
Coleman filed for bankruptcy protection in 1999. This action was a result of ongoing financial mismanagement, legal fees, and the inability to recover misappropriated funds. Bankruptcy provided him with temporary relief from his creditors, but it also highlighted the extent of his financial distress.
Later Acting Career and Other Ventures
Throughout the 1990s and 2000s, Coleman continued to make television appearances, including guest roles on “Married… with Children,” “Martin,” and “The Fresh Prince of Bel-Air.” In 1996, he had a recurring role on the Saturday morning cartoon “Waynehead,” created by Damon Wayans. He also made cameo appearances as himself in comedies such as “S.F.W.” and “Dirty Work.” Later in his career, he appeared on various programs like “The Hughleys,” “My Wife and Kids,” “Baby Bob,” “The Parkers,” “The Surreal Life,” “Drake & Josh,” and “Nitro Circus.” His last roles included appearances in the comedies “Church Ball” and “An American Carol,” with his final film appearance in the 2009 independent film “Midgets vs. Mascots.” These roles helped him maintain a presence in the entertainment industry and supplemented his income during challenging times.
Personal Life and Health Issues
Gary Coleman was born on February 8, 1968, in Zion, Illinois. He was adopted by Edmonia Sue, a nurse practitioner, and W. G. Coleman, a forklift operator. He suffered from a congenital kidney disease that stunted his growth, preventing him from growing beyond 4 feet 8 inches. This condition also kept his face appearing childlike into adulthood. He underwent two kidney transplants in 1973 and another in 1984, but they were unsuccessful. These ongoing health issues required constant medical attention and significant financial resources. The medical expenses related to his kidney disease added to his financial burdens throughout his life.
In 2007, while on the set of “Church Ball,” Coleman met Shannon Price, who was working as an extra. They married several months later but divorced after appearing on “Divorce Court” in 2008. The divorce was attributed to Price’s physical abuse and infidelity. In 2009, Coleman had heart surgery and developed pneumonia, further impacting his health. In 2010, he suffered two seizures and was admitted to the Utah Valley Regional Medical Center in Provo, Utah, after falling down the stairs of his home. He passed away on May 28, 2010, at the age of 42. The combination of health issues, financial mismanagement, and legal troubles significantly affected Gary Coleman’s life and overall financial stability, thus impacting his Gary Coleman net worth.
