Paul Newman Net Worth

What Was Paul Newman's Net Worth?

Paul Newman was an American actor, producer, director, philanthropist, and entrepreneur who had a net worth of $80 million at the time of his death in 2008. Paul Newman established himself as one of Hollywood's greatest leading men with roles in films like "Cool Hand Luke," "Butch Cassidy and the Sundance Kid," and "The Verdict." Newman was nominated for an Oscar ten times before winning the Academy Award for Best Actor in the mid-1980s for "The Color of Money." Newman was also a well-established theatre actor who appeared in a number of Broadway productions.

Outside of acting, Paul was involved in a wide range of additional pursuits. He gained a reputation as a talented racecar driver, winning several championships in various competitions.

In his later years, Newman also established non-profit and charity organizations such as Newman's Own, the Safe Water Network, and the SeriousFun Children's Network.

Over the decades since its launch, Newman's Own has raised hundreds of millions of dollars for charity. As of this writing, Newman's Own has donated over $600 million to various charities, while the foundation still controls an additional $200 million to be given away in the future.

In 2008, Paul passed away at the age of 83 after battling lung cancer for many months.

(Hulton Archive/Getty Images)

Early Life

Paul Leonard Newman was born on January 26, 1925, in Shaker Heights, Ohio. Raised in a family with Jewish roots, Paul showed an interest in theatre from an early age. By the age of seven, he was performing in school plays. At the age of ten, he was performing at the Cleveland Play House. Over the next few years, Paul studied 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. He served in the Pacific theater and was trained as a radioman and rear gunner. During his military career, Paul was stationed in Hawaii and trained replacement combat pilots. Eventually, he became a turret gunner in an Avenger torpedo bomber.

After the war, Newman continued his college education and earned a Bachelor of Arts degree in drama and economics at Kenyon College. After graduating in 1949, he toured with a number of theatre companies before attending the Yale School of Drama. Following this, he trained under Lee Strasberg at the Actors Studio in New York City.

1950s Career

After arriving in New York City, Newman made his Broadway debut with the original production of "Picnic" in 1953. During this period, 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."

Major Success

In the '60s, Paul started to land central roles in major films with greater frequency. During this period, he gained critical acclaim for roles in movies like "The Hustler," "Cool Hand Luke," and "The Towering Inferno." One particularly famous film during this period was "Butch Cassidy and the Sundance Kid," in which he starred opposite Robert Redford.

In the eighties, Newman continued to star in notable films such as "The Verdict" and "The Color of Money." In the latter film, Paul reprised his earlier role in the film "The Hustler" and won an Academy Award. During the 2000s, Newman returned to Broadway with an appearance in "Our Town." His last film role was in the movie "Road to Perdition." His last TV role was in the 2005 HBO mini-series "Empire Falls." In 2006, he provided the voice for Doc Hudson in the animated film "Cars." Paul Newman officially retired from acting in 2007, shortly before his passing.

(Photo by Michael Montfort/Michael Ochs Archives/Getty Images)

Motorsports Career

After appearing in the 1969 film "Winning," Newman developed a passion for motorsports. His first professional event was in 1972 at the Thompson International Speedway. Over the next few years, he became well-known for competing in Sports Car Club of America events. He won four national championships during this period. A high point came in 1979 when he drove a Porsche 935 at the 24 Hours of Le Mans and finished in second place.

From the mid-1970s to the early 1990s, Paul was part of the Bob Sharp Racing team and competed in the Trans-Am Series. He was still racing at the age of 70, and his team was winning events such as the 24 Hours of Daytona. His last major races were the Baja 1000 and the 24 Hours of Daytona in 2005. He was also famous for the Newman Freeman Racing team, which was very competitive in the Can-Am series, during which Paul raced in Spyder NFs. In 2009, Newman was posthumously inducted into the Sports Car Club of America Hall of Fame.

Paul and Joanne Woodward in 1970 (Photo by Art Zelin/Getty Images)

Relationships

Newman's first wife was Jackie Witte. After marrying in 1949, the pair had three children before separating in 1958. Paul divorced Jackie to marry Joanne Woodward, whom he had met five years earlier during the production of a Broadway play. After marrying in 1958, Paul and Joanne had three children and raised them in Westport, Connecticut. Newman and Woodward remained married until Paul's death in 2008.

Paul Newman / JEAN-PIERRE MULLER/AFP/Getty Images

Death

Paul Newman died on September 26, 2008. He had been fighting lung cancer for over a year, although this information wasn't released until Newman had almost passed away. His lung cancer has been attributed to his smoking habit, even though Paul quit in 1986.

Newman's Own

In 1982, Paul Newman turned what began as a holiday kitchen experiment into one of the most successful philanthropic business ventures in history. Alongside his friend and co-founder A.E. Hotchner, Newman launched Newman's Own, starting with bottles of his homemade salad dressing. The product struck a chord with consumers, in part because of its quality and in part because it carried the face and name of one of Hollywood's biggest stars.

The company quickly expanded beyond salad dressing into pasta sauce, salsa, lemonade, popcorn, cookies, frozen pizza, and even pet food. But what set Newman's Own apart wasn't just its rapid growth — it was its business model. Newman made the unprecedented decision to donate 100% of post-tax profits to charity. Over the decades, the brand became synonymous with generosity and social responsibility.

Since its founding, Newman's Own has donated more than $600 million to charitable causes around the world, supporting children's health, nutrition programs, the arts, and environmental initiatives. Beyond the annual donations, the nonprofit Newman's Own Foundation, which Newman established in 2005, continues to oversee the brand and manage more than $200 million in assets to ensure his philanthropic legacy endures. The company also funds Newman's Hole in the Wall Gang Camp, a nonprofit summer camp for seriously ill children and their families.

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Rolex Auction

Nearly a decade after his death, Paul Newman's legacy made headlines again when one of his personal wristwatches became the most valuable timepiece ever sold at auction. In 2017, Newman's Rolex Daytona, famously nicknamed the "Paul Newman Daytona" because of its distinctive dial and his association with the model, sold for an astonishing $17.8 million at Phillips Auction House in New York.

The watch had been expected to fetch around $1 million, but competitive bidding drove the price into the record books, shattering the previous high for any wristwatch. The sale was especially symbolic, as Newman had worn the watch for years during his time as a race car driver — a passion nearly as defining for him as his acting career.

A portion of the proceeds went to benefit the Newman's Own Foundation, linking one of the most extraordinary memorabilia sales in auction history directly to the charitable empire Newman built. The record-setting auction not only highlighted the actor's enduring cultural impact but also added yet another chapter to his legacy of giving.

Real Estate

During their multi-decade-long relationship, Paul and Joanne owned several impressive pieces of real estate. Their primary residence was a 6.8-acre estate in Westport, Connecticut. They also owned a penthouse in Manhattan from the 1980s onward. In December 2024, Joanne listed the Manhattan penthouse for $9.95 million. In July 2025, this home sold for $14 million.

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