The Smiths are not as old as some other Hollywood dynasties. The family Coppola. Washingtons, Denzel and David. The Brothers Warner. Barrymore family. As in, the Wayans. Family of Curtis and Leigh. Gyllenhaal family.
That family’s name is Huston. The examples are endless. Recent pop culture has featured the Baldwins prominently. There are problems in every family. Even famous people have normal family issues like everyone else.
Collectively, the Baldwin Brothers’ acting careers are enormous. Alec, Stephen, Daniel, and Billy have amassed an impressive number of years of experience between them. Both of their daughters have successful careers in the arts. It appears that the next Baldwin generation is making their own way, away from the spotlight cast by their more well-known parents.
Stephen Baldwin Net Worth
American actor, director, producer, and writer Stephen Baldwin has a reported net worth of $1 million. Stephen Baldwin’s acting career has been somewhat unusual. Following in the footsteps of his famous actor brothers Alec, Daniel, and William, he seemed poised for great success.
Guest-starring on several popular sitcoms in the late 1980s and early 1990s—including “Kate and Allie” and “Family Ties”—paved the way for his eventual move into feature films. From “Born on the Fourth of July” to “Posse” to “8 Seconds” to “Threesome” to “Mrs. Parker and the Vicious Circle” to his most critically acclaimed portrayal as McManus in “The Usual Suspects,” his early work was all over the place.
The situation quickly turned “pear-shaped” after that. In 2006, he and his family were forced to sell their home since his film ideas were either becoming increasingly low-budget or were doomed to receive terrible reviews. By 2009, they had been forced to declare bankruptcy when their home was foreclosed.
By the middle of the millennium, he had already appeared on several celebrity reality series, including “Celebrity Mole Hawaii” and “Celebrity Mole Yucatan,” and he planned to devote the next several years to his career in reality television. Since then, we’ve seen him on Celebrity Big Brother (UK), I’m a Celebrity… Get Me Out of Here!, Celebrity Apprentice, and Ty Murray’s Celebrity Bull Riding Challenge.
Stephen Baldwin’s Financial Woes Can Be Traced Back to the IRS
Stories about famous people who reached the height of their careers but then went bankrupt are common knowledge. While the specifics of each tale may be different, one element stands out. It’s crucial that you file your taxes on time. After failing to file his New York state income tax returns for three consecutive years beginning in 2008, Stephen Baldwin was eventually arrested in 2012. Baldwin admitted in an interview with Don Lemon of CNN in 2012 that he was ultimately accountable for his tax problems, but that his accountants had handled them poorly.
Many famous people have been convicted of tax evasion and sentenced to jail terms. In 1990, baseball star Pete Rose was incarcerated for five months. For his $7 million tax debt, Wesley Snipes went to prison for three years. Three months of Lauryn Hill’s life were spent behind bars. About $1 million had to be paid in taxes by her. Ja Rule, a famous rapper, received a sentence of slightly over two years in prison for tax evasion.
Stephen Baldwin admitted guilt for the missed filings and said he was aware of his impending arrest. Baldwin expressed his appreciation to the State of New York for allowing him to contact them despite his detention. Stephen Baldwin considered himself a role model. Baldwin claimed that state officials in New York were making use of his fame to send a strong message that tax evasion would not be tolerated.
In the end, Baldwin paid his tax debt. It wasn’t the only factor, though, that put Baldwin in a monetary bind.
Look at the following list to get an idea of the wealth of some more well-known people:
- Mike Williams Net worth: How His Parents Shaped His NFL Journey?
- Mila Kunis Net Worth: How Much Money She Earn?
Costner Accused of Cheating Baldwin Out of Millions in Oil Spill Cleanup Deal
Baldwin filed a $3.8 million lawsuit against Kevin Costner in 2010 for patent infringement related to oil-separating technology created by Kevin’s Costner in Nevada Corporation (CINC). After the Deepwater Horizon oil spill, Stephen and Costner allegedly agreed to let Baldwin and friend Spyridon Contogouris pitch the technology to BP.
However, when Kevin met with BP, he did so without Baldwin or Contogouris present. Before BP paid $52 million for the CINC technology, Stephen claimed that Costner had used the $18 million down payment agreed to at that meeting to buy out Baldwin and Contogouris, forcing them to give up $2 million in shares in the business. In June of 2012, a judge and jury sided with Costner.