The pair revealed that they earned about $600,000 for writing and starring in the 1997 film, a figure that sounded enormous to two actors in their mid-20s who were just breaking into the industry. But the excitement didn’t last long once they began to understand how much of that money would never actually reach their pockets.
When Stern asked whether they had “blown through” their earnings, Affleck responded with dry humor. “Well, it turns out, Howard, you have to pay these things called taxes,” he said, explaining that the deductions came as a surprise at the time.
Damon admitted the realization arrived quickly. “It was a big wake-up call,” he said, describing the confusion they felt as the money was divided among various parties. “We were like, ‘We understand this guy gets half, but who else gets half?’” The question captured how unprepared they were for the realities of agents, managers, lawyers, and government taking their respective cuts.
Affleck added another joke that summed up the experience. “It was like having an ex-wife right away. You just divide, divide, divide,” he said, later making clear that the comment was not aimed at any particular person but was simply his way of describing how fast the money disappeared.
At the time, the two had just won the Academy Award for Best Original Screenplay and were riding an incredible wave of success. They have previously shared that they kept a joint bank account and agreed to split their earnings evenly. Once taxes and professional fees were deducted, they ended up with roughly $110,000 each, far less than the headline number they had first celebrated.
Affleck later expanded on the story during a 2023 appearance on The Drew Barrymore Show. He explained that both of them bought $55,000 Jeep Cherokees almost immediately. With what was left, they rented a house near the Hollywood Bowl for $5,000 a month, enjoying their sudden freedom without much thought for the future. Within six months, the money was gone.
Looking back, the experience now feels more like a formative lesson than a mistake. While they may have learned the hard way how the business side of Hollywood works, the success of Good Will Hunting ultimately opened the door to decades-long careers for both men.