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Mel Gibson: What You Probably Don't Know About His Money

By Boyce Watkins, PhD on Jul 16th 2010 11:52PM
Filed under: Celebrity Finances, Personal Finance, Dr. Boyce Money

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Most of us have spent a great deal of time hearing the most shocking details of the relationship between the actor Mel Gibson and his child's mother, Oksana Grigorieva. Gibson, who made quite a name for himself as an actor, has made an even bigger name for himself as the man who said his ex-girlfriend would be at fault if she were "raped by a pack of ni**ers." What most of you probably don't know is that if Gibson had played his cards correctly, he could have been at a point where it didn't matter if we saw his movies or not, since he'd be loaded to the eyeballs in money regardless.

OK, here is what Mel Gibson did right financially that would have put him in a position where he wouldn't have to care if his movie career lasts or not. In 2004, he self-financed a little old film called 'The Passion of the Christ.' This film earned him over $610 million through box offices around the world. This led to his 2005 income of $185 million, making him the third most powerful celebrity in all of Hollywood. Not only did Gibson have money, he also had power. There was no need for him to sit around hoping for an audition to be in another film project, for he could make himself the star whenever he pleased.

Power and control represent lessons that can be learned by many of us in the black community, who are still finding out that wealth and ownership come with the perk of not having to depend on other people to get the things you need. Athletes and entertainers can learn from this as well, and it is clear that ownership and institution-building are the best anti-racism tools in America. Black unemployment would not be so high if we owned many of the businesses that are giving (or not giving) jobs to people in our community.


Now, here is what you do not want to learn from Mel Gibson. In spite of the fact that Gibson was, at one time, reportedly worth nearly a billion dollars, he seemed to think that he was made of money. First, his wife of 27-years, Robyn, walked away with a reported $400 million after their divorce. That's what happens when you're a wealthy Hollywood actor without a prenup. Then, there is the five million he claims to have spent on his new girlfriend to help launch her music career. Additionally, he has eight kids to feed, along with all the other people to whom he is financially committed. So, like the late Michael Jackson, Gibson has leveraged himself exhaustively to the point that he needs to earn millions each year just to stay afloat.

In fact, in Gibson's own words spoken in the politely recorded audio his ex-girlfriend has given to the media: "Because of you, I had to sell the mother----ers [,referring to his Lakers box seats]." He then went on to say "I don't have any f---ing money! I have to support you and everybody else! I have to sell paintings. I have to sell my box at the Lakers game... I spent more than $5 million on you! ... Say thank you now!"

Let's be clear, Gibson is a highly disturbed human being. What can be learned from him, however, is that wealth building and ownership are keys to your freedom, no matter how you use it. Had Gibson managed his personal life a bit more carefully, he could have been in a very good position financially, no matter how many fans he has lost. What can also be learned from Gibson is that if you don't manage your personal life and over-leverage yourself economically, you can be in an even worse position than you would be if you were poor. You can learn a lot from the mistakes of other people. Mel unfortunately gives us way too many examples of what not to do.

Dr. Boyce Watkins is the founder of the Your Black World Coalition and a Scholarship in Action Resident of the Institute for Black Public Policy. To have Dr. Boyce commentary delivered to your email, please click here.

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