Terrence Howard Net Worth (Money & Salary)
to previous years’ income.
Personal Life
Throughout his life, Howard has faced several personal challenges. His marital history includes multiple marriages, with his first wife being Lori McCommas, from whom he divorced in 2003, then remarried in 2005, only to divorce again in 2013. He also has two children from his first marriage. In addition, he was briefly married to Mira Pak, with whom he has two children as well. His tumultuous relationships have often made headlines, adding to the scrutiny of his financial affairs.
Future Plans
Looking ahead, Terrence Howard has expressed interest in taking on new acting roles, as well as further pursuing his music career. He remains a passionate advocate for various social issues and intends to utilize his platform to inspire change. Additionally, Howard has hinted at possible future collaborations and projects that could further enhance his career and financial standing.
id=”tax-issues”>Tax Issues
Terrence owes $578,000 in unpaid taxes related to five tax returns he filed between the years 2010 and 2019. He did not show up in court or make any attempts to defend himself regarding the matter.
Iron Man Salary & Controversy
For the film “Iron Man” released in 2008, Terrence received a payment of $3.5 million, making him the highest-paid actor in the production and the first lead actor brought on board. In contrast, Robert Downey Jr. was paid only $500,000, with Terrence asserting that Robert would not have been cast at all had it not been for his influence.
In various interviews, Terrence has stated that he was initially slated to earn $4.5 million for “Iron Man,” but he volunteered to reduce his salary by $1 million to ensure Downey would secure the lead role. He claims that producers were initially interested in Clive Owen for Iron Man and refused to consider Robert Downey Jr. due to concerns over his previous controversies, which inflated his insurance rates. Terrence asserted that he was willing to forgo $1 million so that $500,000 could offset Downey’s pay and the other half could cover his insurance expenses. As history shows, Downey ultimately earned hundreds of millions portraying Iron Man, while Terrence did not reprise his role after the first film.
Terrence further claimed in interviews that he had a three-film contract with Marvel, which promised him $4.5 million for the first film, $8 million for the second, and $12 million for the third, totaling $24.5 million. However, he asserts that before the second “Iron Man” installment, Marvel contacted his agent and insisted that Terrence accept just $1 million instead of the agreed-upon $8 million. According to Terrence, the agent responded with “F*!@& You,” and then hung up. Consequently, Marvel hired Don Cheadle for the second film and, according to Terrence, began to circulate rumors about Terrence being difficult to work with. Terrence claimed to have reached out to Robert multiple times, hoping Robert might advocate for him as he had previously, but Robert did not return any of those calls. The two only reconnected years later at Brian Grazer’s wedding in 2016. At that meeting, Terrence was starring in “Empire,” and Robert reportedly apologized but mentioned something along the lines of “at least everything worked out in the end.”
Early Life
Terrence Dashon Howard was born on March 11, 1969, in Chicago, Illinois. His mother, Anita, was only 15 when he was born, and at the age of two, he witnessed his father Tyrone stab a man with a nail file during a visit to a department store in Cleveland to see Santa Claus. The unfortunate incident resulted in the man’s death, leading Tyrone to serve 11 months in prison for manslaughter. After Tyrone’s release, Terrence’s parents divorced, and he grew up spending time in Cleveland with Tyrone and in Los Angeles with Anita. He has two brothers (Antonio and Tyrone Jr.), a half-brother (Darnell), and a half-sister (Ariana). His great-grandmother, actress Minnie Gentry, played a significant role in nurturing his passion for acting. At the age of 16, Terrence was emancipated and briefly attended Pratt Institute in Brooklyn to study chemical engineering but left before obtaining a degree. As a teenager, he was diagnosed with Bell’s palsy, which he claims to have cured by shocking his face.
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Terrence was first introduced to audiences in the ABC miniseries “The Jacksons: An American Dream,” where he portrayed Jackie Jackson. Before achieving success, he had guest appearances on well-known series such as “Family Matters,” “Living Single,” “Coach,” and “Picket Fences.” His breakthrough roles came in 1995’s “Mr. Holland’s Opus” and “Dead Presidents.” From 1996 to 1998, he starred in the UPN sitcom “Sparks,” and in 1999, he appeared in “The Best Man,” which garnered him an NAACP Image Award along with nominations from the Black Reel Awards, Chicago Film Critics Association, and Independent Spirit Awards. In 2004, he starred in “Crash,” which resulted in several supporting actor awards and nominations for Terrence, and he shared a Screen Actors Guild Award with his fellow cast members. For his role as the aspiring rapper Djay in “Hustle & Flow,” Howard received a Best Actor Academy Award nomination, and the song “It’s Hard Out Here for a Pimp,” which he performed in the film, won the Academy Award for Best Original Song.
In 2008, Terrence took on the role of Colonel James Rhodes in “Iron Man,” becoming the highest-paid actor in the film; however, for the sequel, producers allegedly offered him $1 million instead of the previously agreed $8 million in his contract, resulting in Don Cheadle taking over the role. From 2010 to 2011, Howard was a series regular on “Law & Order: LA” and appeared in “Winnie Mandela” (playing Nelson Mandela) in 2011, “The Butler” in 2013, and “The Best Man Holiday” in 2014 before securing a part on the hit show “Empire” in 2015. Over 102 episodes, his portrayal of the terminally ill hip-hop mogul Lucious Lyon earned him a BET Award. Besides his film and television roles, Howard has also gained awards and nominations for the made-for-TV films “Boycott” (2001) and “Lackawanna Blues” (2005), and has featured in music videos for artists like Madonna, Mary J. Blige, and Ashanti. In September 2019, Terrence announced his intention to retire from acting.
(Photo by Jason Kempin/Getty Images)
Personal Life
From 1989 to 2003 and again from 2005-2007, Terrence was married to Lori McCommas. They share three children: two daughters, Aubrey and Heaven, and a son, Hunter. In 2010, he married Michelle Ghent, but by February 2011, Michelle had filed for divorce, which was finalized in 2013. The following year, she sued him, claiming he owed $325,000 in unpaid spousal support. Howard argued that he was blackmailed into signing a contract that wasn’t fair and stated he could not pay as he was only earning $5,800 a month. During the legal battle, Terrence disclosed that most of his income was actually directed towards supporting his first wife and their children. The situation became so severe that he was essentially on his first wife’s payroll, receiving $5,800 monthly from her account after fulfilling his obligations. In 2015, the judge annulled the initial divorce settlement, but it was reinstated in 2017.
Terrence married Mira Pak in 2013, with whom he has two sons, Qirin (born in 2015) and Hero (born in 2016). The couple divorced in 2015; however, they re-engaged in December 2018.
Lawsuits
In 2000, he was arrested for assault against a flight attendant and for punching, harassing, …
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In 2001, McCommas faced stalking issues from Howard. Subsequently, in 2011 and 2013, Ghent obtained restraining orders against him, citing claims of assault. Then, in 2008, composer Tex Allen initiated a lawsuit against Terrence, demanding $5 million for an alleged assault during a “Cat on a Hot Tin Roof” rehearsal.
Following this, in 2012, a former manager of Terrence, Victoria Fredrick, filed a lawsuit claiming she was owed $137,500 for her services while Howard was working on the films Winnie and Fighting. During that period, Howard made a total of $2.75 million, and Fredrick believed she deserved a share. Furthermore, the lawsuit alleged she was entitled to a portion of the profits from notable films in which Howard starred while under her management, including Hustle and Flow, Iron Man, and Get Rich or Die Tryin’. To add to her claims, she sought a stake in over 100 future films that had not yet begun production!
Terrence, however, took the lawsuit seriously, stating that while Victoria Fredrick was indeed employed by him, her role was strictly that of a “personal manager” responsible for tasks such as answering phones and running errands. He asserted that she was neither a business manager nor held any responsibility for his career, challenging her claims regarding a share of his film earnings. He maintained that he had sufficiently compensated Fredrick for her services, which reportedly included some commissions from his acting roles, and that her allegations were unfounded and made in bad faith.
Despite this, it appears he preferred to avoid a court battle, as both parties recently reached a settlement for an undisclosed amount. Whatever that sum may be, it was likely significantly lower than the original 6-figure amount Fredrick sought in her lawsuit.
Awards and Honors
Howard has received over 30 awards for his contributions to film, including 2 BET Awards (in 2006 and 2015), a Black Movie Award (in 2005), and a Satellite Award (also in 2005). He has been nominated for a total of 12 NAACP Image Awards, successfully winning in the years 2000, 2006, 2011, and 2016. In addition to this, Terrence has garnered accolades from the African-American Film Critics Association and critics associations spanning cities like Austin, Florida, Los Angeles, Phoenix, Vancouver, and Washington, D.C. Furthermore, in 2019, he was honored with a star on the Hollywood Walk of Fame.