Insiders in the industry have reported that the well-documented slap delivered by Will Smith at the Oscars could result in a loss of $1 billion in potential future income, throwing a wrench into his Hollywood resurgence. Smith, who previously garnered $35 million per movie, has experienced a significant drop in opportunities and the suspension of major projects after his confrontation with Chris Rock at the 94th Academy Awards ceremony in March 2022.
Smith’s value in the box office saw a steep decline after he hit Rock in response to a joke about his wife, Jada Pinkett Smith’s alopecia-induced baldness. This incident led to a billion-dollar deal falling through, and staff layoffs at Westbrook, the Smiths’ production company. Projects including “Bad Boys 4” and other significant films that Smith had lined up were put on hold due to the Oscars debacle, leading to a huge loss in potential earnings.
Beyond the cancellations of films, Smith’s career has been affected in other areas. Major streaming platforms such as Netflix and Apple TV+ have distanced themselves from the actor, putting projects on pause. There was internal discussion within his talent agency, Creative Artists Agency (CAA), about whether to continue representing him. Additionally, several endorsement deals were either suspended or terminated, further affecting his income.
The Academy of Motion Picture Arts and Sciences quickly prohibited Smith from attending any Academy events, including the Oscars, for a decade. This is a historic first in the Academy’s 94-year history, barring a winner from attending future ceremonies. Although Smith can still receive nominations and wins, he is not allowed to physically attend any ceremonies until 2032. Prior to the incident, Smith had been celebrating his Best Actor win for “King Richard.”
In October 2023, Jada Pinkett Smith added to the upheaval by revealing that she and Smith had been living “completely separate lives” since 2016. “We were still trying to figure out between the two of us how to be in partnership,” she stated, though they continue to remain married without any legal divorce. This revelation was part of her memoir promotion, detailing how the Oscars event influenced their relationship dynamics.
The effects of the slap were felt even at the 2023 Academy Awards, where host Jimmy Kimmel frequently mentioned the incident. “If anyone commits an act of violence, they will be awarded the Oscar for best actor,” Kimmel quipped during his opening monologue. The Academy has since set up a crisis team, enacting new security measures and response protocols for live broadcasts.
Chris Rock utilized the controversy in his Netflix special, discussing the impact of the slap, pointing out that it was painful and that Smith had a significant physical advantage. Reportedly, Rock turned down hosting the 2023 Oscars and rejected multiple seven-figure offers to take part in interviews and documentaries about the slap. He has since integrated the incident into his stand-up routines, often making fun of Smith and Pinkett Smith.
“Emancipation,” Smith’s first film after the slap, garnered mixed responses, with some Oscar voters publicly refusing to support his work. This controversy further complicated the film’s budget of $120 million and its demanding production schedule. Industry experts suggest that it could take years for Smith to rebuild his career value, with some projects likely to be permanently shelved. The estimated $1 billion loss includes canceled films, sponsorship deals, and future opportunities over the next decade.
Despite the professional challenges, Jada Pinkett Smith stated that the incident has strengthened their marriage. Smith approved her to include their personal stories in her “Worthy” memoir, which he reviewed without requesting any changes. Neither of them attended the 2023 Academy Awards, but Rock was seen at a viewing party. Westbrook Media, the couple’s production company, has experienced significant restructuring, with numerous projects either canceled or indefinitely postponed.
