How much is Larenz Tate worth?
|Net Worth:||$3 Million
|Date of Birth:||September 8, 1975 (age 47)|
|Country:||United States of America|
|Height:||5 ft 6 in (1.7 m)|
“Fortunately, I grew up in a family that was grounded. My mother and father knew how to guide my career and look out for my best interests.” Larenz Tate
About Larenz Tate
Larenz Tate is an American actor who began his acting career in 1985. He first gained popularity for his role as O-Dog in the drama film Menace To Society in the 1990s. Since then, he has taken part in multiple television films and series such as Biker Boyz, Girls Trip, Rescue Me, Power and Crash.
“‘Crash’ is a movie about the racial tension that still exists in America. A lot of us pretend that we don’t have preconceived notions and stereotypical ideals about each other, but we do. And we wanted to create a movie about people whose lives crash into each others’ accidentally,” Tate has said.
One of his notable roles for us was as Anthony Curtis in Dead Presidents (1995). Dead presidents is slang for “money”.
Larenz became famous after he landed a role in Menace II Society. “‘Menace II Society’ itself was a groundbreaking film. It’s definitely going to go in the vaults of classics in all of cinema. The Hughes Brothers created an incredible project. Just gave the world something a little different than what we had seen in previous films in that same genre,” Tate has said.
He was born on September 8, 1975, in Chicago, Illinois. Both of his parents, Larry and Peggy Tate were actors. They moved to California to further pursue their acting careers when Larenz was 4 years old. During his pre-adolescent years, he developed an interest in acting and, after he was convinced by his parents, Tate entered a drama program.
Shortly after he spent several years perfecting his craft at the Inner City Cultural Center, Tate landed his first role in The Twilight Zone.
In 1985, he received a small role in the first of three revivals titled The New Twilight Zone, which marked his screen debut. Throughout the rest of the decade, he continued to take part in various television series where he landed small roles. Among some of the productions that he took part in are Hunter, Amen, 21 Jump Street, and The Wonder Years. By 1993, when he graduated from the Palmdale High School, Tate had already improved his acting skills and had several roles in his portfolio.
The actor began to become rich in the late 1990s when he began acting in more movies, especially with lead and main roles. In what was his film debut, he joined the cast of Menace II Society in 1993. The film was a box-office hit as it amassed an estimated $29.5 million and, because of his impressive performance, Tate was able to earn a net worth of about $35,000. That was also including his 15 episodes in The Royal Family. A good net worth considering he was only about 18 years old at the time.
Throughout the rest of the decade, he starred in other commercially-successful films – The Inkwell, Dead Presidents, Love Jones, The Postman, and Why Do Fools Fall In Love, thanks to which he began earning much more serious money.
After his role as Andre Mosely in South Central in 1994, which earned Larenz an estimated $35,000 for the 10 episodes. He then spent more than 10 years starring only in television and independent films. In 2007, after appearing in Waterfront, Larenz Tate joined the cast of Rescue Me as a series regular. In the FX comedy-drama, he played the role of Bart Sean Johnson from seasons four to seven.
The most recent films that he appeared in are Girls Trip and Deuces, both of which were released in 2017. The first, Girls Trip, is one of the most successful films in which he starred in earning $140.9 million in the box office. Also in 2017, he joined the cast of Power, where he plays the role of Councilman Rashad Tate.
As a television and film actor Larenz has become successful in comedies, dramas, and thrillers. In Dead Presidents he made a solid performance. It pitched audiences back into the 1970s with the draft and drama of the time. It all being torn away from his character of Anthony Curtis, and then, only to come back and with so few opportunities, Curtis makes some bad choices and turns to a life of crime.
Perhaps being the youngest gave young Larenz a kick in the head from almost day one. I am the youngest and I know that was my experience anyway. Mark Wahlberg was also the youngest in his family and I think it motivates us to try harder and develop our skills younger. Whatever it was, Larenz began to receiving small roles since he was ten years old and hasn’t looked back since.
Because of his fantastic performance, the character was transitioned from recurring to main in season 5 and 6. Shortly after the series ended in February 2020, in September that year, it was announced that it will be followed up by a spin-off titled Power Book II: Ghost. In the spin-off, Larenz Tate once again reprises his role as a recurring character. In the next decade, the actor will continue to appear in the Power Book spin-offs titled Power Book III: Raising Kanan, Power Book IV: Force, and Power Book V: Influence.
Breaking Down Larenz Tate’s Earnings
Larenz Tate earned small sums for his initial performances and that stayed true even through his role of Curtis Royal in The Royal Family. Even after his role as O-Dog in Menace II Society young Larenz’s net worth was still only at around $35,000. Still, that is the equivalent of around $70,000 in 2022 dollars and it is normal for an aspiring professional actor to fill many small roles at the start of their career. Larenz Tate had played 16 characters by the time he was cast in Menace II Society (1993).
Over the next ten years Tate would mostly appear in film, he was in The Inkwell, Dead Presidents, Love Jones, Why Do Fools Fall in Love and many more movies that formed the base of his cinematic career. By the time he was appearing as Marcus in the 2006 TV series, Waterfront, Tate had already earned some $3 million in career earnings.
After that Tate has periodically appeared in TV series, including 8 episodes of Love Monkey, 47 episodes of Rescue Me, 10 episodes of Rush, 10 episodes of House of Lies and 10 episodes of Game of Silence all by 2016. Then, after appearing in a few movies including Girls Trip and Business Ethics, Tate was cast as Councilman Tate in Power. Power became a massive show and has earned the lead, Omari Hardwick, as much as $150,000 per episode. Tate will have earned far less than that, however, it is likely that his per episode salary was about $20,000 per episode.
Since then Tate has also earned from his work on the podcast series, Bronzeville. As well as 13 episodes on TV series, Power Book II: Ghost. He is also in pre-production work for Untitled Akon/JoJo Ryder Project and M.D. Is for Mr. Doula. However, to date, it looks like his career earnings are around $5 million.
Tate’s Total Net Worth
On average, over his 37 year career (1985-2022), Larenz Tate has earned $135,000 per year. That would make his effective tax rate about 17% for federal tax and at about 10% for California state tax, with an overall effective tax rate of about 27%. However Tate has earned more in some years than he has earned in others. Overall it seems that it is more likely that he has paid about 32% in tax on his career earnings because of his high earning years. Therefore, Tate’s after-tax earnings are $3.4 million, having paid $1.6 million in taxes.
Larenz Tate married Tomasina Parrott in 2006 and they remain together. They have three children together and Tate’s home life seems stable however in his financial life he once ran up a bill of $57,912.85 on his American Express card. Outside of that Tate has not found himself in any legal trouble or had a history of alcohol abuse.
When taking into account personal expenses, like living costs, miscellaneous payments, as well as business costs, including agent and management fees. In addition, to some money spent and some lost, it is likely that he has realized some investment gains. Overall, Larenz Tate may have a net worth of about $3 million.
Larenz Tate is one of the best Black actors in Hollywood. His acting career spans three decades and during that time, he has taken part in numerous films and television series. After achieving a ton of success with his roles in comedies and dramas in the 1990s and 2000s, he continued to make a name for himself in the film industry.
Most recently, he joined the cast of the widely-popular crime drama series Power and is expected to have recurring and guest roles in most of the seasons.