What was Paul Newman’s Net Worth?
Paul Newman, an American actor, producer, director, philanthropist, and entrepreneur, died in 2008 at the age of 83. He was worth $80 million at the time of his death.
Newman was known for his roles in films such as “Cool Hand Luke,” “Butch Cassidy and the Sundance Kid,” and “The Verdict.” He was nominated for an Oscar ten times and won the Academy Award for Best Actor in the mid-80s for “The Color of Money.”
Besides acting, Newman was a well-known racecar driver and won several championships. He also established non-profit and charity organizations such as Newman’s Own, the Safe Water Network, and the SeriousFun Children’s Network.
Newman’s Own has raised hundreds of millions of dollars for charity and has donated over $600 million to various charities. He passed away after battling lung cancer for many months.
Early Life and Education
Paul Leonard Newman was born on January 26th of 1925 in Shaker Heights, Ohio. Raised in a family with Jewish roots, he showed an interest in theatre from an early age, performing in school plays at the age of seven and at the Cleveland Play House at the age of ten. He continued to study acting throughout his childhood before graduating from high school in 1943.
After briefly attending Ohio University, Newman served in the United States Navy during World War II as a radioman and rear gunner in the Pacific theater. He trained replacement combat pilots in Hawaii and eventually became a turret gunner in an Avenger torpedo bomber.
After the war, Newman earned a Bachelor of Arts degree in drama and economics at Kenyon College in 1949. He toured with theatre companies before attending the Yale School of Drama and training under Lee Strasberg at the Actors Studio in New York City.
Newman’s Early Career in Acting
After arriving in New York City, Newman made his Broadway debut with the original production of “Picnic” in 1953. He also made his television debut with “Tales of Tomorrow.” In 1954, he participated in the box office flop “The Silver Chalice” before starring in the film “Our Town” alongside Frank Sinatra and Eva Marie Saint. His film career continued with “Somebody Up There Likes Me,” “Cat on a Hot Tin Roof,” and “The Long, Hot Summer.”
Paul Newman’s Acting Career:
During the 60s, Paul Newman gained critical acclaim for roles in movies like “The Hustler,” “Cool Hand Luke,” and “The Towering Inferno.” He starred opposite Robert Redford in the famous film “Butch Cassidy and the Sundance Kid.”
In the 80s, Newman continued to star in notable films such as “The Verdict” and “The Color of Money,” for which he won an Academy Award. He returned to Broadway in the 2000s with an appearance in “Our Town.” His last film role was in “Road to Perdition,” and his last TV role was in the 2005 HBO mini-series “Empire Falls.” He provided the voice for Doc Hudson in the animated film “Cars” in 2006 and officially retired from acting in 2007.
Paul Newman’s Motorsports Career
After his appearance in the 1969 film “Winning,” Newman developed a passion for motorsports. He competed in Sports Car Club of America events, winning four national championships. In 1979, he finished in second place at the 24 Hours of Le Mans driving a Porsche 935.
Newman was part of the Bob Sharp Racing team in the Trans-Am Series from the mid-70s to the early 90s. He continued racing until the age of 70, winning events such as the 24 Hours of Daytona. He also competed in the Can-Am series with the Newman Freeman Racing team, racing in Spyder NFs. In 2009, Newman was posthumously inducted into the Sports Car Club of America Hall of Fame.
Newman’s Marriage and Family Life
Paul Newman’s first wife was Jackie Witte. They married in 1949 and had three children before separating in 1958. Newman then married Joanne Woodward, whom he had met five years earlier during the production of a Broadway play. They got married in 1958 and had three children. They raised their children in Westport, Connecticut. Newman and Woodward remained married until Paul’s death in 2008.
Paul Newman’s Death
Paul Newman passed away on September 26, 2008, after battling lung cancer for over a year. The public was not aware of his illness until shortly before his death. It was revealed that his lung cancer was likely caused by his previous smoking habit, despite quitting in 1986.
Newman’s Own: Organic Food and Charitable Giving
In 1982, Paul Newman founded Newman’s Own, an organic food company that initially sold pasta sauces, lemonade, and salsa before expanding to other products. The brand’s unique selling point was its commitment to donating all post-tax profits to charity.
Since its inception, Newman’s Own has donated over $600 million to various charities. In addition to this impressive figure, the foundation also controls more than $200 million, allowing it to continue supporting important causes.
Record-breaking sale of Paul Newman’s Rolex
In 2017, a Rolex wristwatch once owned by Paul Newman sold for $18 million at an auction, breaking the record for the highest sale price for a wristwatch. The watch was expected to sell for just $1 million, but the bidding war drove up the price significantly.
Some of the proceeds from the sale went towards the Newman’s Own organization, a charity founded by Paul Newman himself.
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