Three years ago Will Smith received a 10-year ban from the Academy Awards after walking on stage and slapping Chris Rock during the live broadcast [click here if you missed that].
Now insiders are claiming Will & Jada never recovered financially from the incident and are quietly downsizing their real estate empire...
Married stars Will Smith and Jada Pinkett Smith have been downsizing their enormous property holdings, but insiders said the Bad Boys star is struggling to foot the massive upkeep costs that are burning a major hole in his $400 million bank account as his career dwindles.
Sources said the troubled couple listed a Woodland Hills home in March for $2 million and previously sold a five-bedroom Maryland mansion for $795,000 before his notorious 2022 Oscars slap of comic Chris Rock badly damaged Will's movie career – but it's barely helping.
"They're spending an absolute fortune maintaining the rest of their properties, and somewhere down the road it's all going to fall to pieces," said an insider.
"As rich as Will is, it's getting harder to keep up with the enormous bills – especially with them not living together."
Sources said Will is living at a sprawling $45 million, 150-acre ranch in Calabasas, while Jada is in a house down the street.
"Things are still not resolved between them and it's looking more and more that they'll make a permanent split, but he's still on the hook for all the expenses," noted the insider.
"Ever since Slapgate, it's been a stream of money pouring out and very little coming in."
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