Tim Allen's net worth explored as his 'Home Improvement' co-star Patricia Richardson reveals the show ended over huge pay gap

Actress Patricia Richardson discussed the paygap between herself and her Home Improvement co-star, Tim Allen, and how she used it to bring an end to the long-running ABC TV show. On Thursday, May 24, 2024, the 73-year-old told the Los Angeles Times on the 25th anniversary of the show:

"I told everybody, 'There's not enough money in the world to get me to do a ninth year. This show is over. It needs to end."

Home Improvement was a 1991 (till 1999) sitcom that starred Allen as Tim "The Tool Man" Taylor, a home improvement television show host opposite Richardson, who played his wife and mom to three boys. The show ran for eight seasons and had a loyal fan following.

She claimed Allen was offered $2 million per episode to return for the 25-episode 9th season, twice the amount offered to her. Richardson explained that while her co-star was on board with the deal that allegedly also included an executive producer credit, she wasn't. She explained:

"All I really care about is having enough money to live on, get my kids to college, and leave them some. I don’t need a plane. I don’t need a boat."

Thus, Patricia told the network that if they offered her the same deal as Tim, she would stay. However, she added that she was sure Disney wouldn't pay her that much. She reasoned:

"That was my way to say 'no' and was a little bit of a flip-off to Disney. I’d been there all this time, and they never even paid me a third of what Tim was making, and I was working my *ss off. I was a big reason why women were watching."

ABC ended up rejecting her proposal, and thus the show ended.

Per Celebrity Net Worth, Tim Allen boasts a net worth of a whopping $100 million as of May 26, 2024.

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At its peak season, Tim Allen was paid $1.25 million for Home Improvement, making it the fifth-highest salary paid to a TV actor

Hailing from Denver, Colorado, Tim Allen began his career as a stand-up comedian, performing across the U.S. He rose to fame playing Tim Taylor in Home Improvement. The sitcom was a huge success, with the actor earning $1.25 million at its peak season ($1.9 million adjusted for inflation), making it the fifth-highest salary paid to a TV actor per episode.

While the series was cancelled after its eighth season, he became a household name. Tim Allen has since appeared in hit movies like Toy Story, Galaxy Quest, and the Santa Clause franchise.

His work has earned the actor-comedian several awards and nominations, including a Golden Globe for Best Actor in a Television Series Musical or Comedy for Home Improvement in 1995.

The actor voiced the iconic Buzz Lightyear in the Toy Story franchise. He earned just $50,000 for the first film but a whopping $5 million for Toy Story 2. Per Celebrity Net Worth, he earned $2 million for Galaxy Quest and $12 million for Joe Somebody.

Tim Allen starred in Last Man Standing (2011–2021), another hit sitcom, as Max Baxter, a conservative father in a household filled with women (wife and three daughters). He was paid $235,000 for each episode.

The actor also earns a substantial chunk of his income from advertisements and endorsement deals. In 2009, Tim Allen narrated the Pure Michigan TV and radio advertisements for Travel Michigan.

In 2010, he became the official voice for the Chevrolet Cruze and Campbell's Soup in their "It's Amazing What Soup Can Do" ad campaign.

Tim Allen is an avid car collector and even competed in endurance racing for Saleen in a co-owned car in the 1990s. He boasts a car collection that includes a 1956 Ford F-100 custom made by McLaren and a 1966 Ferrari 330 GTC. According to Simon Boseman of VIP Fortunes, it exceeds $3 million. However, this remians to be verified.

The actor lost a $50 million deal due to Home Improvement being cancelled, and he still has a fractured relationship with Particia Richardson as a result.