Wesley Snipes’ Net Worth: From Action Star to Financial Struggles

Wesley Snipes, a name synonymous with action-packed blockbusters and martial arts prowess, has captivated audiences for decades. Beyond his on-screen achievements, however, lies a complex financial history that includes significant legal battles and a highly publicized tax evasion case. This article delves into Wesley Snipes’ net worth, exploring his rise to stardom, his financial successes and setbacks, and the impact of his legal troubles on his overall wealth.

Early Life

Wesley Trent Snipes was born on July 31, 1962, in Orlando, Florida. His early life was marked by frequent moves, ultimately shaping his diverse experiences. He spent his formative years in New York City, where he attended the prestigious Fiorello H. LaGuardia High School of Music & Art and Performing Arts, the inspiration behind the movie “Fame.” However, he moved back to Florida before graduating, finishing his high school education in Orlando. Snipes later pursued higher education, attending the State University of New York at Purchase, and also attended Southwest College in Los Angeles.

Early Career

Snipes’ journey into the film industry began in Los Angeles, where his college studies provided a gateway to acting. His talent was quickly recognized, leading to his discovery by an agent and the subsequent booking of various roles. His film debut in “Wildcats” marked the start of his professional career, quickly followed by guest appearances, including one on the popular television show “Miami Vice.” This exposure helped him gain initial recognition. A significant turning point came with his appearance in Michael Jackson’s iconic music video for the song “Bad,” where he played the role of Jackson’s rival. This role caught the eye of director Spike Lee, leading to a fruitful collaboration.

Mainstream Success

The partnership with Spike Lee was pivotal in launching Snipes into mainstream success. Roles in Lee’s films, such as “Jungle Fever” and “Mo’ Better Blues,” showcased Snipes’ versatility and acting skills. While he became known for playing diverse roles, he was often cast as either a drug dealer or a crime lord, solidifying his presence in various genres. His performance in films like “New Jack City” and “Sugar Hill” further cemented his reputation for playing compelling, complex characters. Additionally, Snipes starred in “Kings of New York,” adding another notable credit to his filmography.

Shift Towards Action Films

As Wesley Snipes’ career progressed, he increasingly gravitated towards action films, which allowed him to display his proficiency in martial arts. This shift marked a significant phase of his career, with roles in various successful action movies. He starred in films such as “Passenger 57,” “Money Train,” “The Fan,” “U.S. Marshals,” and “Rising Sun.” One of his most prominent roles during this period was in “Demolition Man,” where he acted alongside Sylvester Stallone. Despite his focus on action, Snipes also demonstrated his comedic talent, starring in films like “White Men Can’t Jump” and “To Wong Foo, Thanks for Everything! Julie Newmar,” showing his versatility in different film genres.

(Photo by Gabriel Olsen/Getty Images)

“Blade” Trilogy

The “Blade” trilogy represents a high point in Wesley Snipes’ career, both commercially and financially. The first film in the series, released in 1998, was a major success, grossing $150 million worldwide. This success spurred the creation of two sequels, “Blade II” and “Blade: Trinity,” which further solidified Snipes’ status as a leading action star. However, after the “Blade” trilogy, Snipes faced a period of relative obscurity.

Notable Salaries

Throughout his successful career, Wesley Snipes commanded substantial salaries for his film roles. Here are some of his notable earnings:

• “Drop Zone” (1994): $7 million
• “Money Train” (1995): $5.5 million
• “The Fan” (1996): $7 million
• “Blade: Trinity” (2004): $13 million

Tax Issues and Prison

The most significant financial challenge in Snipes’ life involved a lengthy legal battle with the IRS. In 2006, two years after “Blade: Trinity” was released, he was charged with conspiracy to defraud the U.S. government, making a false claim for payment against the U.S., and six counts of failing to file tax returns. The conspiracy charges alleged that Snipes had filed fraudulent tax returns seeking millions in refunds and failed to file tax returns from 1999 to 2004. During the period from 1996 to 2004, Snipes earned $37.9 million, yet failed to pay any taxes. In 2008, while acquitted of all felony charges, he was convicted of three misdemeanor charges for failing to file tax returns, leading to a three-year prison sentence. He was released in 2013 and served the remainder of his sentence under house arrest. In addition, he was ordered to pay $17 million in back taxes, interest, and penalties to the IRS.

Snipes continued to dispute his debt, eventually offering to settle a debt that had grown to $23.5 million for $842,000, an offer the government rejected. A judge later finalized the amount at $9.5 million. The final status of this debt remains unclear as of this writing, and it is uncertain whether Snipes has fully satisfied this obligation, pending future filings from the government.

New Jersey Mansion

In 2002, Snipes purchased a 10,000-square-foot mansion in Alpine, New Jersey, for $5.6 million. However, in early 2008, reports indicated that he owed $70,000 in back property taxes on the property. In March 2014, the home was sold for $3.5 million, resulting in a $2.1 million loss for the actor. Here is a video tour of Wesley’s former New Jersey mansion:

Life After Release From Prison

Following his release from prison, Snipes re-entered the acting world, appearing in several films, including “The Expendables 3.” He also starred in “Chi-Raq,” “Dolemite Is My Name,” “Cut Throat City,” “Coming 2 America,” and “Back on the Strip,” making a successful return to Hollywood.

Involvement in Martial Arts

Snipes’ dedication to martial arts is a significant aspect of his persona. Starting his training at age 12, he holds black belts in Hapkido (2nd degree) and Shotokan karate (5th degree), and has also trained in Capoeira, Shaolin Kung Fu, Brazilian Jiu-Jitsu, and kickboxing.

Projects Outside of Acting

Beyond his acting career, Snipes has diversified into other ventures, including establishing a security firm that provided security services for VIPs. The company primarily hired personnel with law enforcement and martial arts backgrounds. Additionally, Snipes created his own film production company, which produced films, including “A Great and Mighty Walk: Dr. John Henrik Clarke.” He also authored a book titled “Talon of God,” published in 2017.

Personal Life

Wesley Snipes has five children. His first son was born to his first wife, April Snipes. In 2003, he married Nikki Park, a painter, and they have four children together. Though raised Christian, he converted to Islam in 1978, but later left the religion. Snipes’ apartment in New York City was destroyed in the 9/11 attacks on the World Trade Center, although he was on the West Coast at the time.