How much is Tracy Morgan worth?
| Net Worth: | $65 Million |
|---|---|
| Profession: | Professional Actor |
| Date of Birth: | November 10, 1968 (age 54) |
| Country: | United States of America |
| Height: | 5 ft 10 in (1.78 m) |
About Tracy Morgan
Tracy James Morgan is an American actor and comedian. He was born in Brooklyn in 1968. His family was a large one. He is the second of five children. His mother was a homemaker. His father primarily worked as a musician, but he was also drafted and went to Vietnam as part of the reserve troops. That conflict made a lasting impression on his father, who became a heroin addict. His parents separated when Tracy Morgan was only six years old. His father would die soon after that due to complications arising from AIDS.
Tracy’s childhood was rough all around. Money was hard to come by. They lived in a rough neighborhood and he was constantly bullied growing up. To help his dying father he dropped out of high school. Soon after his father died he married his then-girlfriend and worked as a, as he puts it, “became crack dealer with a heart of gold”.
He also started doing comedy on the side. One of his biggest early fans was a close friend of his who always pushed him to do comedy. After his friend was murdered, Tracy Morgan switched his whole attention and effort into a career in comedy. That happens sometimes in tragedy we change and suddenly discover confidence and talents that we never even knew that we had.
Morgan took a ‘why not me’ attitude and decided to see if he had what it took to make it as a comedic star. His biggest comedy heroes are Jackie Gleason, Carol Burnett, Eddy Murphy, and Richard Pryor. He took after them and rose to the top of comedy, himself.
Tracy Morgan honored the wishes of his dying friend and was soon becoming a successful stand-up act. He could even afford to finally move out of his run-down apartment and live in a nicer neighborhood. Soon he started going on TV auditions. A lot of people suggested that he had acting talent and that making connections in the show biz would help him improve his career, and maybe even help him record a stand up special or an album.
His first TV role was on one of the most successful TV shows at the time, Martin. Tracy Morgan played a Hustle man who would try to sell Martin and other characters from the show various “hood” items. He also had a pet dog who he dressed as a rapper. He was also in a movie with Chris Rock in 2003 called Head of State. As well as performed on various comedy sketch shows such as the Def Comedy Jam and Uptown Comedy Club.
His next big break would come when he finally joined Saturday Night Live. He and the now world-famous Stephen Colbert would be the finalist and Lorne Michaels would pick Tracy Morgan over Colbert. He would be a regular performer and writer on the show for 7 years. Some of his more famous characters which he created on the show were Brian Fellow and Astronaut Jones. He made a couple of guest appearances after he departed Saturday Night Live, the biggest example being 2013 when Jimmy Fallon hosted. Tracy Morgan himself hosted the show in 2015.
After Saturday Night Live he auditioned for a lot of things, but the project that really stuck was his role on 30 Rock. He played a character that was an exaggerated version of himself, named Tracy Jordan. The show ran for 7 seasons, and it is one of the most popular and most critically acclaimed shows of the last 30 years. It was on that show, 30 Rock that Tracy Morgan as an actor started to truly blossom. He grew in the eyes of both the public and the critics. The highlight of his time on 30 Rock was the nomination for the Best Outstanding Character in a Comedy Series. Sadly, Tracy Morgan did not win his first Emmy that year.
After the end of 30 Rock, he was involved in a lot of different projects. He tried to make his own sitcom, but it was canceled after just one season. He also appeared in a lot of films, but rarely as the star or protagonist. One of his early movie roles was as the Pumpkin Man in the Kevin Smith film Jay and Silent Bob Strike Back. Kevin Smith, the indie director-star whose career keeps hitting lows after lows now, gave Tracy Morgan his first-star role in his buddy cop movie, Cop Out. Tracy Morgan starred next to the big Hollywood icon Bruce Willis. The movie was a nightmare to shoot and it was a big flop commercially and critically.
In 2014 Morgan was a passenger in a minibus returning from a show in The George Washington Bridge when it was struck from behind by a Walmart truck. The collision was devastating killing Morgan’s long time friend and collaborator, 62-year-old comedian James McNair. Tracey was badly injured with a broken leg and femur, broken nose, and several broken ribs, as well as suffered mental trauma. The resulting lawsuit brought against Walmart landed Tracy Morgan a multi-million dollar payout. However despite rumors, Tracy Morgan’s lawyer denies that it was a $90 million payout, according to People.
Morgan’s Total Net Worth
In his career, Tracy Morgan has earned from his involvement in TV series and films, as well as from producing, writing and from the many appearances that he has made as himself. He has also earned from his stand up comedy. Not to mention been involved with soundtracks, as well as many other behind the scenes work as well. In total, it is estimated that from his work in the entertainment industry, Morgan has earned about $55 million in total pre-tax dollars.
Living in New Jersey and paying tax there has saved Tracy Morgan a lot of money. However he has also likely had to pay some taxes in California as well, on account of his work in state. Considering New Jersey carries no state income taxes, he will have been taxed a maximum of around 36% for his earnings while residing there. He may have had to pay California taxes as well. To be safe, his overall tax rate on his earnings is being calculated as 40%.
After tax, it is estimated that Morgan’s career earnings are at around $33 million, having paid $22 million dollars in taxes.
Tracy Morgan married Sabina Morgan in 1987, they had three children together, Gitrid, Malcolm and Tracy Morgan Jr.. They divorced some twenty-two years after they were married and at a time when Morgan’s earnings were still really very low. In fact, his professional career started a year later in 1988 and so it is unlikely that Tracy had much money to pay in a divorce settlement at all. However, since then, it is estimated that about $1.5 million dollars has gone in Sabina’s direction.
In 2015, Tracy married Megan Wollover and they remain together. They have one child together, Maven Sonae Morgan, and they appear happy and content. In his personal life, however, there have been times of struggle even before the minibus accident on the The George Washington Bridge. In 1996, Morgan was diagnosed with diabetes mellitus and for years he has struggled with alcohol use disorder.
It is still considered safe to say that Morgan has successfully invested some of his wealth. He has received far more however from his settlement with Walmart. It is estimated that he received around $30 million dollars after a Walmart truck collided into a minibus that he was traveling in, in 2014. It is also likely that he has earned around $10 million dollars in total from his investments, including real estate, and after deducting taxes and losses.
In real estate he recently sold his $14 million dollar property in New Jersey. He has also sold a small number of properties in the area for around the $2 million dollar mark.
Overall, when factoring in likely expenditures of about $8 million dollars, including personal losses. It is estimated that Tracy Morgan has a net worth of about $65 million dollars.
Summing-Up
While since the accident he has retired mostly to his 22,000-square foot mansion in New Jersey with his wife, Megan, and their young daughter Maven, we hope to see more of Tracy as he returns to stage and screen again. Most recently he appeared in Coming 2 America, in 2021.
