What is Terrence Howard’s Net Worth and Salary?
Terrence Howard, an American actor and musician, has a net worth of $5 million dollars. Despite financial and marital issues, he has had a successful career in movies such as “Ray” and “Crash,” and has released an album and performed on Broadway. Howard played the award-winning role of Lucious Lyon on the Fox drama “Empire,” earning up to $175,000 per episode at the show’s peak.
Early Life and Family
Terrence Howard was born in Chicago in 1969 to Anita and Tyrone. His mother was only 15 at the time. When Howard was 2 years old, his father stabbed a man to death with a nail file during a trip to see Santa Claus. Following his father’s 11-month jail sentence, his parents divorced, and he spent his childhood in Cleveland with his father and in Los Angeles with his mother. Howard has multiple siblings, including a half-sister and a half-brother. His great-grandmother, Minnie Gentry, an actress, instilled a love of acting in him.
Early Education and Career
Howard was emancipated at age 16 and later studied chemical engineering at Brooklyn’s Pratt Institute but dropped out before earning his degree. However, he credits his study of chemical engineering with helping him understand complex scripts. He began acting in the late 1980s and appeared in several television shows and films, including “The Cosby Show” and “Dead Presidents.”
Health and Personal Life
Howard was diagnosed with Bell’s palsy as a teenager and claims to have cured it by shocking his face. He has been married four times and has five children. He has also been involved in several legal disputes with ex-wives and business partners.
Terrence Howard’s Career Highlights
Terrence Howard began his acting career with guest roles on popular shows like “Family Matters,” “Living Single,” “Coach,” and “Picket Fences” before finding success in films like “Mr. Holland’s Opus” and “Dead Presidents.”
Howard starred on the UPN sitcom “Sparks” from 1996 to 1998 and earned critical acclaim for his performance in “The Best Man,” which earned him an NAACP Image Award as well as nominations from the Black Reel Awards, Chicago Film Critics Association, and Independent Spirit Awards.
He received several supporting actor awards and nominations for his role in “Crash” in 2004, and was nominated for a Best Actor Academy Award for his portrayal of aspiring rapper Djay in “Hustle & Flow.”
Howard played Colonel James Rhodes in “Iron Man” in 2008 and was the movie’s highest-paid actor, but was replaced by Don Cheadle in the sequel after a contract dispute.
He played dying hip-hop mogul Lucious Lyon in 102 episodes of “Empire,” earning him a BET Award, and also appeared in made-for-TV movies like “Boycott” (2001) and “Lackawanna Blues” (2005).
Howard announced his retirement from acting in September 2019.
Marriages and Legal Troubles
Terrence Howard was married to Lori McCommas from 1989 to 2003 and from 2005-2007. They had 2 daughters and a son together. Howard married Michelle Ghent in 2010, and in February 2011, Ghent filed for divorce. The divorce was finalized in 2013, and the following year, Ghent sued him for allegedly owing $325,000 in unpaid spousal support. Howard claimed that he was blackmailed into signing an unfair agreement and couldn’t pay because he was only making $5,800 per month. In the same court case, Terrence revealed that the majority of his income actually goes directly to his first wife to support their kids. Howard was technically on his first wife’s payroll, receiving $5,800 per month directly from her account after his obligations were met. The judge overturned the original divorce agreement in 2015 but reinstated it in 2017.
Terrence married Mira Pak in 2013, and they have 2 sons together. The couple divorced in 2015, but they became engaged again in December 2018.
Howard has faced legal troubles, including an arrest for assaulting a flight attendant in 2000 and for punching, harassing, and stalking McCommas in 2001. Ghent was granted restraining orders against Howard in 2011 and 2013 due to claims that he had assaulted her. In 2008, composer Tex Allen sued Terrence for $5 million after he allegedly attacked Allen during a “Cat on a Hot Tin Roof” rehearsal.
Terrence Howard’s History with the IRS
Terrence Howard has had multiple run-ins with the IRS over the years. In 2010, he was reportedly hit with a $1.1 million overdue tax bill.
Most recently, in June 2019, it was reported that Terrence and his on again/off again wife Mira were being investigated for tax evasion.
Throughout his career, Howard has faced several liens from the IRS. In 2006, he was hit with $600,000 worth of liens, and in 2019, he faced $143,000 worth of liens.
Terrence Howard’s Award-Winning Career
Terrence Howard has received over 30 awards for his work in the entertainment industry. Among his accolades are two BET Awards in 2006 and 2015, a Black Movie Award in 2005, and a Satellite Award in 2005. He has also been nominated for 12 NAACP Image Awards and has won four times in 2000, 2006, 2011, and 2016.
In addition, Howard has received awards from various critics associations, including the African-American Film Critics Association, as well as critics associations in Austin, Florida, Los Angeles, Phoenix, Vancouver, and Washington, D.C. In 2019, he was honored with a star on the Hollywood Walk of Fame.
