How Morgan Freeman overcame adversity to build his $250 million net worth
For over
50 years, Morgan Freeman has been a respected actor, producer, and beloved
public figure in the entertainment industry. The actor, often associated with
God and possessing a velvety voice, has delivered numerous groundbreaking
performances throughout his career, most notably his iconic role in the 2003
film "Bruce Almighty." According to Celebrity Net Worth, Morgan
Freeman has amassed a net worth of over $250 million. While this substantial
fortune is staggering by any standard, it is especially impressive considering
that Freeman was born into extreme poverty and has lost millions of dollars in
various disputes, including his 2010 divorce.
Morgan
Freeman's net worth paints a vivid picture of his longevity, creativity, and
resilience, solidifying his status as an inspiration to us all. As longtime
voice actor Morgan Freeman approaches his 87th birthday, it's the perfect time
to analyze his diverse income streams and unravel the strategies he used to
build his massive fortune. Read on to find out how Morgan Freeman built a
multigenerational fortune with just one dollar and a dream.
Early
Life
Long
before Morgan Freeman boasted a net worth greater than the GDP of a country,
the Academy Award-winning actor was born into a modest family in Memphis, the
youngest of four children. Freeman was born in 1937, and like many Black
Americans of that time, his roots can be traced back to the American slave
trade. The actor's name itself comes from his great-great-grandparents, who
were not given surnames at birth and were called "Freeman" after
being freed from slavery after the Civil War. Specifically, Freeman's ancestors
worked on plantations in North Carolina, notorious for some of the most
degrading working conditions, even during slavery. While this is a deeply
tragic and solemn glimpse into a past, it's also moving to see how Morgan
Freeman's family grew from impoverished and abused slaves to a man with a net
worth of hundreds of millions of dollars in just a few generations.
Morgan
Freeman grew up in extreme poverty, and his parents sent him to live with his
grandmother in Charleston, Mississippi. However, when he was six years old, his
grandmother died, and Freeman returned to live with his mother. After several
years of moving around, they finally settled in Chicago. There, Morgan Freeman
developed a passion for acting and performed in school plays throughout his
childhood. While many of his elders assumed he would pursue an acting career
after high school, Freeman surprised everyone by turning down a college
scholarship and joining the Air Force.
Career
Beginnings
After
leaving the Air Force in 1959, Morgan Freeman decided to return to acting and
studied drama at the Pasadena Playhouse and Los Angeles City College. There, he
built connections and began working as a professional dancer, performing at
venues such as the 1964 World's Fair. In the mid-1960s, he joined a stage
company and appeared in various off-Broadway shows before transitioning to film
acting in the early 1970s.
Morgan
Freeman's first credited film acting role was in the PBS children's series
"Electric Company," in which he played a variety of characters,
including Mark, Mel Mounds, Count Dracula, and a mad scientist. The series
marked Freeman's first major breakthrough, appearing in 780 episodes and
providing him with the financial security to further his career. Despite his
newfound success as a film actor, Morgan Freeman was dissatisfied with his
roles. He stated that "Electric Company" was demanding, yet
artistically unsatisfying. Fortunately, Freeman left the show in 1977, allowing
him to pursue leading roles in Hollywood films.
Huge
Hollywood Success
In the
1980s and 1990s, Morgan Freeman finally found his breakthrough, landing major
roles in blockbuster films. After minor roles in films like Brubaker, Witness,
and That Was Then...This Is Now, Freeman's first breakthrough came in the 1987
film Street Smart. His captivating and nuanced performance in the film earned
him critical acclaim and first drew attention from critics like Roger Ebert.
Freeman subsequently starred in classics such as Lean on Me, Driving Miss
Daisy, The Shawshank Redemption, and Seven.
Morgan
Freeman's star continued to grow with each passing year, and the award-winning
actor quickly earned a reputation for playing kind, fatherly characters and
imparting great wisdom in his soft, gentle voice. His voiceover work has become
legendary, showcasing his smooth baritone in numerous films, including
"March of the Penguins" and "War of the Worlds." Freeman
also provided the voice for the opening credits of Dave Chappelle's Netflix
special and provided a series of skits for 21 Savage and Metro Boomin's 2020
rap album, "Savage Mode 2." Morgan Freeman has over 150 IMDb credits
for his film appearances, with recent hits including "Ritual Killer,"
"The Hitman's Wife's Bodyguard," and "Coming 2 America."
Financial
Issues
Morgan
Freeman's net worth is substantial, and it could be even greater if he hadn't
paid over $100 million in his 2010 divorce settlement. While the exact figure
has not been made public, Freeman reportedly paid his ex-wife of 26 years
between $100 million and $200 million in cash and real estate holdings. His
ex-wife initially demanded a total of $400 million, representing their shared
share of the estate, but the two parties reached an agreement.
Other
Investments and Extracurricular Activities
Despite
suffering a nine-figure loss in 2010, Morgan Freeman has not had to worry about
money for decades. Outside of his Hollywood career, the beloved performer has
pursued a number of lucrative extracurricular activities, including real estate
investment, environmental activism, and the founding of his own production
studio, Revelations Entertainment. While little is known about Freeman's real
estate portfolio, he reportedly owns large mansions in Charleston, Mississippi,
and New York City. His Charleston home has been partially converted into a bee
sanctuary, housing and protecting bees with over 20 hives.
Morgan
Freeman also owns and operates a blues club in Mississippi called Ground Zero,
which offers a relaxed atmosphere where patrons can enjoy food, drinks, and quality
music until late into the night. The velvet-voiced octogenarian has also
invested in a number of private aircraft, including a Cessna Citation 501, a
Cessna 414, and an Emivest SJ30. He took formal flight training and earned his
private pilot's license at the age of 65, proving that he remains very active
despite his advanced age.