Rich Dudes│Comedian Kevin Hart’s Rise to a $450M Net Worth
Kevin Hart's career is nothing short of amazing, with huge successes in stand-up comedy, movies, and business ventures. Take a closer look at how Hart's infectious humor, sharp wit, and business acumen amassed him a $450 million net worth.
Updated Jun 8, 2023
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When you look at Kevin Hart's $450 million net worth, you can't help but wonder what this pint-sized powerhouse did to amass such an impressive fortune. Kevin Darnell Hart, an American stand-up comedian with infectious humor and fast-paced jokes, rocked the big screen and comedy clubs from an early age.
From his early life in George Washington High School to becoming a shoe salesman and eventually strutting into community college, Kevin Hart's career journey in stand-up comedy has been a rollercoaster. Comedy tours like 'Laugh at My Pain' and movies like Soul Plane, Central Intelligence, Night School, and Secret Life of Pets contributed to the exponential growth of his career and net worth.
Kevin Hart owns two media companies, HartBeat Productions, and Laugh Out Loud, with an 85% stake in the latter valued at an impressive $650 million.
Stage and screen are just part of the story, though. With business ventures like HartBeat Productions, an underwear line, and endorsements with Mountain Dew, Hart's business acumen has paid off.
Kevin Hart net worth at a glance
Net worth | $450 Million |
Born | July 6, 1979 |
Nationality | American born in Philadelphia, Pennsylvania, USA |
Became a millionaire at | 27 |
Occupations | Actor, comedian, & film producer |
Sources of wealth | Entertainment |
Asset classes | Startups, luxury cars, real estate, & luxury watches |
How Kevin Hart made his money
How Kevin Hart made his money
Kevin Hart’s net worth is a product of hilarious comedy tours, blockbuster movies, endorsements, and good business. But let's rewind the clock and look at how he made his fortune.
In 2015, Kevin Hart embarked on his "What Now?" tour, a comedy extravaganza that took the world by storm. This fun-packed comedy tour was a game-changer, raking in $70 million.
As reported In 2016, Kevin Hart makes around $1 million from each live stand-up performance.
Hart wisely diversified his income streams, delving into movies, where he found great success. Films like Jumanji: Welcome to the Jungle and The Secret Life of Pets proved to be box office gold, collectively generating over $1.3 billion in global ticket sales.
Movie paychecks, comedy tours, endorsements, and business ventures helped Kevin Hart accumulate wealth. His Instagram profile has over 174 million followers, raking in over $40 million per year from sponsored posts on the platform.
Kevin Hart's path to becoming one of the wealthiest comedians in the world, alongside the likes of Jerry Seinfeld, Steve Harvey, and Larry David, was paved with hard work, grit, and a dash of business sense. His relentless hustle, and undeniable talent, have propelled him to the top of the entertainment industry.
How Kevin Hart invests
How Kevin Hart invests
Kevin Hart knows how to make his money work for him. His investments range from prime real estate to media ventures and luxury cars.
Kevin's love for cars is evidenced by his purchase of a custom-made 1970 Plymouth Barracuda worth $800,000 and a sleek Ferrari 488 valued at around $300,000. He houses these beauties in his expansive garage, complete with a second-story pool house, costing approximately $170,000.
Kevin acquired a 26-acre plot in Calabasas for $1.35 million and a Tarzana home for just under $2 million. Hart also has a taste for luxury watches and owns a collection of 16 timepieces, including six Rolex watches.
As a businessman, Kevin Hart owns two media companies, HartBeat Productions, and Laugh Out Loud, with an 85% stake in the latter valued at an impressive $650 million. Kevin's diverse investment portfolio and entrepreneurial spirit show he's more than just a funny man.
Startups
Kevin Hart invests in media startups. One such investment is HartBeat Productions, a company he co-founded in 2009. With over 40 dedicated employees, HartBeat manages various aspects of Kevin's comedy, movie, television, and radio productions.
In 2018, HartBeat released its first movie, Night School, featuring Kevin and Tiffany Haddish. In May 2022, Kevin raised $100 million for HartBeat from the private equity firm Abry Partners. This investment put HartBeat at an impressive $650 million valuation, making Kevin’s 85% controlling stake worth $552 million.
In addition to HartBeat Productions, Kevin Hart ventured into digital media by launching the Laugh Out Loud (LOL) Network. This subscription-based video streaming service was launched in partnership with Lionsgate in 2017.
The LOL Network provides a platform for comedy content, including a radio show on Sirius Satellite Radio, giving audiences a hilarious dose of laughter.
Kevin Hart also co-founded Gran Coramino Tequila and VitaHustle, a company producing vitamins and protein supplements. By combining his talent for comedy with strategic investments, Kevin Hart continues to make waves in media and entertainment.
Investing in media and entertainment has been fruitful for investors over the years, especially with the emergence of digital, mobile, and social media and newer technologies like AI and virtual reality. The U.S. media and entertainment industry is the largest in the world, worth $717 billion, and is expected to reach more than $825 billion by the end of 2023.
The global entertainment and media industry is projected to reach $2.9 trillion in revenue by the end of 2023. While past performance doesn't guarantee future results, the numbers can't help but bring a smile to media enthusiasts, entertainers, and investors.
Real estate
Kevin Hart purchased a Tarzana, California, house for $1.99 million in 2012, selling it for $2.75 million in 2019. His primary residence is an impressive Calabasas mansion on a 26-acre plot he acquired for $1.35 million—investing around $5 million to construct a stunning Spanish-style villa.
He expanded his portfolio by purchasing a neighboring $7 million, 16.3-acre estate. These properties, featuring a 9,600-square-foot primary house with amenities like a swimming pool and playground, provide ample space for his family’s enjoyment and reflect Kevin's impeccable taste for luxury.
Real estate has proven to be a lucrative investment asset, offering attractive returns over the years. According to the S&P 500, residential real estate in the United States has an average annual return of around 10.6%. Commercial real estate also performs well, with an average annual return of 9.5%.
These returns include both rental income and property appreciation. So, whether you're flipping houses, investing in rental properties, or exploring commercial ventures, real estate has demonstrated its ability to generate favorable returns for investors.
Luxury cars
Kevin Hart is a well-known car enthusiast and has an impressive collection that includes both classic and modern cars. Hart’s collection includes a Ferrari 458 Spider, a Ferrari 488 GTB, a 1969 Chevrolet Camaro, a Maserati GT, a modified Jeep Wrangler, and 12 others.
Automobile prices vary depending on the custom modifications, but Hart’s car collection is estimated to be worth around $2.6 million. Some of the most impressive classics from his collection include a 1987 Buick Grand National GNX 'The Dark Knight,' a 1967 Mustang Eleanor, and a 1966 Pontiac GTO.
Kevin Hart next to his 1969 Plymouth Road Runner valued at $121,000.
Source: topspeed.com
Luxury car investing has shown impressive returns, with classic cars achieving an average annual return of 185% in value over the past decade, according to Knight Frank's 2023 wealth report.
The rare and collectible luxury car market has grown, with iconic models experiencing substantial value appreciation. Limited production and the appeal of owning pieces of automotive history contribute to their desirability as enjoyable valuable investment vehicles.