Lately, there have been many reports suggesting that Burt Reynolds may have gone broke. After all, he has been selling many of his prized possessions, which includes his gold watch, the 1998 Golden Globe award and even his 1978 Firebird Formula. However, it seems that the reports have misjudged something. As Burt Reynolds net worth is still estimated to be $ 7.5 million, which is pretty decent.
Though the actor has openly accepted that he was never very good at managing money. In an interview, he even said “I’ve still done well in terms of owning property and things like that. But I haven’t been somebody who’s been smart about his money.” On being asked about the recent auction rumors, Reynolds further added “I’m not bankrupt, by any means. I’m not even worried about it.”
It’s also interesting to note that though present scenario may not be bright however once the actor was making $ 10 million a year. During the peak of his career, he had properties across America, drove in the custom made sports cars and owned a private jet along with a helicopter.
So it’s a common question amongst fans as to how he became so rich and where all the money went? Well, don’t worry we are here with the answers.
Burt Reynolds Net Worth
|2017||$ 7.5 million|
|2016||$ 6 million|
|2015||$ 5 million|
|2014||$ 5 million|
Burt Reynolds Salary
|City Heat (1984)||$4,000,000|
|Cannonball Run II (1984)||$5,000,000|
|The Cannonball Run (1981)||$5,000,000|
Burt Reynolds Biography – The Begining
Son of Burton Milo Reynolds (1906–2002) and Fern H. (née Miller; 1902–1992), Burt was born in Lansing, Michigan on February 11, 1936. After completing his primary education at Palm Beach High, he got enrolled at Florida State University on a football scholarship. At first, he had made up his mind to pursue a career in football however it was due to an accident that he had to give up on his dreams. He then became a police officer before attending Palm Beach Junior College (PBJC). At PBJC, on the recommendation of his teacher, Watson B. Duncan III, Reynolds played a lead role in a play. The role earned him a 1956 Florida State Drama Award, which included a scholarship to a summer stock theater, Hyde Park Playhouse.
He first appeared on the American television anthology series, Flight in 1958. The following year he appeared on shows such as “M Squad” and “The Lawless Years”. While Reynolds had his debut in movies with the 1961 film “Angel Baby”. Thereafter he appeared in numerous other movies and TV shows also becoming one of the most renowned actors in the Hollywood.
Why Burt Reynolds net worth declined over time?
It’s no secret that Burt Reynolds not only become popular but also quite rich during his successful career. However, he made a couple of blunder paying little or no attention towards expenses and bad investments. One of his major mistakes was investing $ 20 million in “Po’ Folks”, a restaurant chain. Even his movies and shows failed to perform well, which led to a further decline in his total annual income. The situation got worse and by 1996, he got sued for failing to repay a $3.7 million in loans.
Later the veteran actor disclosed debts totaling $11.2 million while his assets were estimated to be $6.65 million.
Amongst other Vintage cars, Reynolds used to own a beautiful black colored 1978 Firebird Formula. However, the car was up for an auction and finally sold for $275,000.00
He previously owned a double story mansion in Florida. The property had a helicopter landing space, movie screening room, swimming pool, waterfront dock, and a screened-in outdoor cabana. After being in the market for 9 years, the house was finally sold to St. George’s University founder Charles R. Modica for $3.3million.
At present, he lives in the same property although as a tenant.
Burt Reynolds net worth is likely to increase in the coming months.