It's No Joke: Oscar Win May Help Mo'Nique Reap Millions

By winning the Oscar for Best Supporting Actress, Mo'Nique's star power -- and her earning power -- just went up dramatically.

Any victory at the Academy Awards gives the winner some serious bragging rights, instant recognition and additional credibility. For some stars, however, winning an Oscar also translates into an enormous payday. And that's likely to to be the case for Monique -- particularly since she proved to Hollywood that she's more than just a funny, lovable comedian.

In fact, by taking a huge career risk and playing an unpopular character -- an abusive mother named Mary Jones in the emotionally gut-wrenching film 'Precious' -- Mo'Nique showed off some serious acting chops and set herself up to get more serious, and more lucrative job offers in the future.

It's no doubt only a matter of time before a range of scripts, movie deals, and million-dollar film offers start coming Mo'Nique's way.

The actress herself seemed to acknowledge that her career gamble paid off, at least indirectly, when she thanked her husband and told him that he was right in encouraging her to take on such a gritty role.

"Thank you," Mo'Nique told her hubby during her acceptance speech, "for showing me that sometimes you have to forgo doing what's popular in order to do what's right. Baby, you were so right."

If Mo'Nique can leverage her current status as one of Hollywood's newest rising stars into a bigger payday, I say more power to her. Of course, she won't be the first to cash in on her Oscar gold. Previous Oscar winners have catapulted to bigger and better things, and have successfully parlayed their wins into more deals and more dollars.

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Black Oscar Winners Through The Years

Hattie McDaniel
She was the first African American to be nominated for, and win, an Academy Award. For her role in the 1939 epic saga 'Gone With the Wind,' the Kansas native took home the prize for best actress in a supporting role. With her win, she met some criticism for playing a stereotypical black character, but McDaniel caused a stir when she told members of the media that she would rather "play a maid than be one!"

Stan Honda, AFP / Getty Images

BlackVoices.com

Black Oscar Winners Through The Years

Black Oscar Winners Through The Years
Maybe it's the sign of the times, but in recent years, more and more African Americans have nabbed Academy Awards in honor of their accomplishments to the motion picture industry. From film scoring, production, direction and acting, African Americans have touched many . facets of the film genre. In celebration of the 81st annual Academy Awards, Black Voices takes a look at the winners – through the years.

Black Oscar Winners Through The Years

Sydney Poitier
He was the first African American to win an Academy Award for best actor in a leading role. His Oscar win for the 1963 drama 'Lilies of the Field' proved that this Bahamian-American thespian was a real box office draw. Four years later, with 'To Sir, With Love,' 'In the Heat of the Night' and 'Guess Who's Coming to Dinner,' the latter being one of the first movies to positively tackle the complexities of interracial relationships, Poitier became the year's top box office star. In 2002, the 83-year-old was also awarded an honorary Oscar.

Black Oscar Winners Through The Years

Isaac Hayes
Hayes became the first African American to win for best original song and the first African American to win an Oscar in a non-acting category. The theme to the blaxploitation film 'Shaft,' appropriately titled 'Theme from Shaft,' earned this soul singer an Academy Award in 1971. The track, which was written and performed by the late Memphis native, rose to the top of the Billboard charts months after the movie's release. Hayes got to perform the song at the Academy Award ceremony in 1972 and dedicated the win to his grandmother, who joined him on stage to accept the award.

Black Oscar Winners Through The Years

Quincy Jones
He is the first African American nominated for best picture, the first African American to be named musical director/conductor of the Academy Awards ceremony (in 1971), and the first African American to win the Jean Hersholt Humanitarian Award. Jones, who has long been known for his talent in the music business, made Academy Award history for his role as a producer on the feature film 'The Color Purple.' The 27-time Grammy Award winner is tied with sound designer Willie D. Burton as the most Oscar-nominated African American with seven nominations.

Black Oscar Winners Through The Years

Louis Gossett Jr.
He was the first African American actor to win for best supporting actor. The Brooklyn, N.Y., native, who had no formal drama training, took home an Oscar for his characterization of Gunnery Sergeant Emil Foley in the 1982 film 'An Officer and a Gentleman.' Unfortunately, the he did not find Hollywood calling for major motion pictures, something he lamented about publicly. "If I were white, I'd be as rich as Harrison Ford," he told BV.

Black Oscar Winners Through The Years

Irene Cara
She was the first and only African American woman to win a non-acting Academy Award. Cara, who penned the lyrics to 'Flashdance (What a Feeling)' -- while in a cab on the way to the studio to record the song -- took home her Oscar in 1984. The New York native performed the song and later released it as a single. She is also known for creating the Academy Award-nominated theme to the 1980 film 'Fame,' which she performed at the awards ceremony.

Black Oscar Winners Through The Years

Stevie Wonder
Wonder's 'I Just Called to Say I Love You,' remains one of the Michigan native's most commercially successful singles. The track was featured in the 1984 Gene Wilder-directed comedy 'The Woman in Red' and won for best original song in 1984. The soundtrack also featured Dionne Warwick.

Black Oscar Winners Through The Years

Prince
Was the first and only African American to win for best original song score. After his 1984 Oscar win, the category was retired, but Prince's seminal album, 'Purple Rain,' made the Minnesota native a household name. The soundtrack album spent 24 weeks at No. 1 on the Billboard 200. At one point the pint-sized music icon, who starred in the film, had the No. 1 movie, single and album in America.

Black Oscar Winners Through The Years

Lionel Richie
Was a winner for best original song for 'Say You, Say Me.' Richie wrote and performed the song, which appeared in the 1985 film 'White Nights.' Most fans of the Alabama native felt that he should have taken home an Oscar a few years earlier in 1981 for his breakout duet with Diana Ross in 'Endless Love.' That track became one of Motown's biggest hits and helped to launch Richie's solo career. He was also nominated in 1985 for a best song Academy Award for 'Miss Celie's Blues,' a song he co-wrote with Quincy Jones and Rod Temperton for 'The Color Purple.'

Black Oscar Winners Through The Years

Take Adrien Brody, for example, who won the best actor Oscar in 2003 for 'The Pianist.' In the wake of that win, Brody told Reuters: "I'm now more of a commodity. I'm a safer bet on a business level." He added that winning an Oscar "does provide you more opportunities." Brody has gone on to do everything from movies, including a remake of "King Kong," to diet Coke commercials and appearances in television and music videos. He's also now slated to star in a sequel to the blockbuster movie Predator.

For her part, Mo'Nique's acting gigs and other opportunities will no doubt be wide open, given the incredible acting range she displayed in 'Precious.'

As she gets her due in Hollywood, I just hope Mo'Nique will also sidestep some of the financial pitfalls that other celebrities have been plagued by after shooting to bigger levels of fame and riches. I'm talking about problems like overspending, failing to pay taxes, or getting embroiled in lawsuits or personal dramas such as divorce -- all of which can wipe out one's riches quicker than you can say "And the Oscar goes to...."

No matter what happens in Mo'Nique's professional and personal future, I am sure she'll keep her down to earth sense of humor. And while winning an Oscar and beating out the likes of Penelope Cruz and Maggie Gyllenhaal is no joke, fortunately, for Mo'Nique, that golden statue means she may soon be laughing all the way to the bank.

Share your thoughts with me. Do you think Mo'Nique's Oscar win will help her land more serious, financially rewarding roles as an actress? Or do you think she'll continue to be seen primarily as a comedic talent?

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Lynnette Khalfani-Cox, an award-winning financial news journalist and former Wall Street Journal reporter for CNBC, has also been featured in top newspapers including the Washington Post, USA Today, and the New York Times, as well as magazines ranging from Essence and Redbook to Black Enterprise and Smart Money. Check out her New York Times bestseller, 'Zero Debt: The Ultimate Guide to Financial Freedom.'