What is Net Worth? Uses of Net Worth
Net Worth is the combination of two words (Net Worth) that carry equally meaning. It is mostly referred to as financial assets. Nut Net Worth is about financial or Non-Financial assets that are owned by an individual or by a company or firm. Mostly this word is used for most famous persons like singers, politicians, businessmen and many more.
But the main purpose of this statement is to collecting, analyzing and summarizing assets that are owned by one person or company. It is also for annual balance sheets and income statement preparation. So it plays an important role in legal documents. Additionally, it is also shown that how much a person is rich? It includes all assets like houses, cars and bank balances.
It is also used to show the assets and liabilities of a person. It also helps the government to record the data about national wealth. It also controls the illegal activities of wealth in the country. Every famous person is responsible to submit it every year to the government for his records monitoring.
It also helps to make the tax ratio according to people’s wealth power. It shows the nation’s wealth correctly. So it can be said that Net Worth is an important document or statement which helps the peoples and government institution to maintain wealth in the country.
Will Smith Net Worth 2021: $375 Million
Will Smith is an American rapper, songwriter, producer and actor, Newsweek ranked him the best actor and most powerful actor in Hollywood in 2017 and his total net worth is $ 375 million.
America’s cutest actor Will Smith was born in Philadelphia, Pennsylvania in the United States of America on September 15, 1968, and is now 48 years old.
Smith never went to college because from the beginning of his young age he wanted to become a rapper, his mother belonged to the school administration and he has three brothers.
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He formed a rap group with his friend Jeffrey Townes “DJ Jazzy Jeff & The Fresh Prince” and they won the Grammy Award for their albums “Parents Just Don’t Understand” and “Summertime”; these were his one of the best jobs.
During the 90s Smith spent a lot and the problem came when he has the debit of $ 2.3 million and at that time he was bankrupt but NBC hired him for their program ‘The Fresh Prince of Bel-Air’ and he was given 25% of the debit. to the IRS through checking who has received from the television.
This program was the cause of his success, as he made many films in the 90s such as Bad Boys, Six Degrees of Separation, Men in Black and Enemy of the states, and this era was the beginning of his success; by appearing in movies he broke many records and became one of the highest-paid actors in Hollywood.
Some of Smith’s best films are; Independence Day, Wild West, Men in Black II, I, Robot, I Am Legend, Men in Black 3, After Earth and suicide squad and, according to a 2016 report, Smith’s films grossed more than $ 7.5 billion at the box office.