Tom Hanks, with a net worth of $400 million, is a mythical Hollywood star renowned for his blockbuster films and successful career as an actor, producer, and director. His diverse income streams and strategic real estate investments highlight the net worth of Tom Hanks and his continued success in the entertainment industry.
He is one of the wealthiest and most highly-paid actors in Hollywood. He is also a producer, writer, and director. He is a well-known Hollywood star who has worked in this field for over five decades and has been in several blockbusters. Even at 66, he gets plenty of offers due to his immense talent and skill.
The total amount of money that Hanks’ movies have earned at the box office in the United States is over $4.6 billion. At the time of writing, his films’ total global box office earnings are roughly $9.7 billion. Additionally, he holds the top spot as the most dependable and profitable box office star worldwide. Tom Hanks has a net worth of approximately $400 million.
He performed tremendously in countless films, including Forrest Gump (1994), Catch Me If You Can (2002), Captain Phillips (2013), Philadelphia (1993), and Saving Private Ryan (1998).
Keep reading to learn more about Tom Hanks’s life, income, and net worth!
Biography
Hanks was born on July 9, 1956, in Concord, California. He is the son of Janet Marylyn and Amos Hanks. His mother used to work in a hospital, and his father was a nomadic cook. Tom is also a far-flung relative of former President Abraham Lincoln. His parents got divorced in 1960, and Tom moved in with his father, along with his two elder siblings.
Hanks married the American actress Samantha Lewes in 1978. The couple had a son named Colin Hanks and a daughter named Elizabeth, but they divorced in 1987. Hanks encountered his eventual spouse, the actress Rita Wilson, while they were both working on the TV comedy show Bosom Buddies in 1981. They collaborated again in Volunteers in 1985 and developed romantic feelings for each other during the movie’s filming. Hanks and Wilson exchanged wedding vows in 1988 and later became parents to two sons.
Career
After pursuing drama studies in community college and California State University, Hanks received encouragement to enroll in the Great Lakes Theater Festival. He started as an intern but ended up dedicating three years to the program. He relocated to New York City in 1980 and was cast in a major role in the cross-dressing sitcom Bosom Buddies, which ran for two seasons. Following that, he secured several small parts in movies.
Hanks’ Journey to Fame
In 1988, Tom Hanks became a notable figure in the entertainment industry after his portrayal in the successful movie Big. Subsequently, he established himself as an actor who wasn’t limited to a specific genre. He starred in various prominent films, including Apollo 13, You’ve Got Mail, Saving Private Ryan, Cast Away, Sleepless in Seattle, Toy Story: The Da Vinci Code, and Angels and Demons, among many others.
During 1993 and 1994, Tom Hanks achieved a remarkable feat by becoming the second actor in history to receive consecutive Best Actor Academy Awards. In 1993, he won for his portrayal of an HIV-positive lawyer in the movie Philadelphia. He won again in 1994 for his performance as the lead character in the movie Forrest Gump.
Tom Hanks started his career behind the camera in 1996 by writing and directing the movie That Thing You Do! Since then, he has worked as a producer and director on several other films, such as Cast Away and The Polar Express.
Net Worth of Tom Hanks and His Income
Tom Hanks earned approximately $300 million in movie salaries between 1988 and 2010, which is equivalent to around $450 million after adjusting for inflation. In the following decade, he earned at least an additional $100 million. Throughout his career, net worth of Tom Hanks includes a minimum of $400 million in movie salaries, not including residuals or payments for producing and directing.
Tom Hanks saw a significant increase in his salary with his appearance in the 1984 movie “Splash,” earning $70,000, which is approximately $172,000 after accounting for inflation. He received $1.75 million for his part in “Big” in 1988, equivalent to around $4 million in current currency. In 1998, he was paid $5 million for his performance in “Punchline,” which equates to $11 million today. Tom’s paychecks skyrocketed from the late 80s, as he received $40 million for “Saving Private Ryan” and $20 million for each of “You’ve Got Mail,” “Cast Away,” and “The Green Mile.”
Earning from ‘’The Da Vinci Code’’
Tom Hanks received $18 million for his leading role in the 2006 film “The Da Vinci Code.” Later, he earned $25 million for reprising the same role in the 2009 sequel, “Angel’s & Demons,” and another $25 million for the final movie of the trilogy, “Inferno,” released in 2016. In sum, Tom earned a total of $68 million for his performance as Robert Langdon.
Earning from ‘’Forrest Gump’’
In 1993, Tom Hanks was initially expected to earn $7 million for his role in “Forrest Gump.” However, because the movie went over budget, he proposed relinquishing his salary for “first dollar” backend points. This allowed him to receive a portion of the box office earnings that Paramount owed after the theaters took their cut and before the studio began subtracting costs such as marketing and printing expenses.
After Forrest Gump became a massive success, earning $700 million in ticket sales and an additional $100-200 million from merchandise licensing, DVD, and VHS sales, Tom, who had negotiated a “first dollar deal,” benefited greatly. In the initial year, his backend points resulted in approximately $70 million, which would be equivalent to about $120 million in current times. This remains his most significant acting payout to date and is one of the most substantial acting salaries in the history of Hollywood.
His current net worth is estimated to be $400 million.
Tom Hanks’s Real Estate
In April 1991, Tom and Rita purchased a spacious seaside mansion in Malibu Colony from director John Frankenheimer for $2.95 million. This property is estimated to be worth $20 million or more today. Subsequently, in January 2010, they acquired their main residence in Los Angeles’ Pacific Palisades for $26 million.
Tom and Rita made a sale of two adjacent homes in the Palisades for $18 million in May 2017. The purchaser, represented by a San Francisco-based attorney and LLC, chose to demolish both properties to construct a sizable single mansion. The couple has five or more other properties in Pacific Palisades and a ski lodge in Sun Valley, Idaho, outside of Los Angeles. Overall, the Hanks/Wilson real estate assets are valued at a minimum of $150 million.
The Bottom Line
Tom Hanks is an iconic figure in the entertainment industry who has achieved enormous success over the years. His impressive acting career has garnered him numerous accolades, including multiple Academy Awards and Golden Globes. Additionally, his significant earnings from blockbuster hits, endorsement deals, and real estate investments have contributed to his staggering net worth of around $400 million. However, despite his fame and fortune, Tom has remained grounded and committed to his craft, earning him a well-deserved reputation as one of the most talented and beloved actors in Hollywood history.
