Val Kilmer's Daughter Mercedes Hugs Mom in Emotional Encounter — As Actor's Net Worth and Inheritance Plan Revealed After Death Following Brutal Throat Cancer Battle
April 3 2025, Published 5:00 p.m. ET
Mercedes Kilmer and her mom Joanne Whalley shared a tearful embrace on Wednesday, April 2, just one day after the loss of dad and ex-husband Val Kilmer. The prolific actor was one of the most successful movie stars of the 1990s, thanks to appearances in a number of big-budget blockbusters.
However, after his career came to a sudden end, and following his extensive and expensive battle with throat cancer, which ended earlier this week with his passing, RadarOnline.com can reveal his financial legacy may be disappointing to his heirs.
The 'Top Gun' star (here with Tom Cruise) enjoyed a successful acting career.
Kilmer exploded on the scene with his star-making role of Lt. Tom "Iceman" Kazansky in Top Gun alongside Tom Cruise. He followed that up with a string of money-making hits, including The Doors, Tombstone, and Batman Forever.
In addition to his acting career, Kilmer owned significant real estate holdings, including his beloved New Mexico ranch. His estate also included a Los Angeles home, art pieces, and intellectual property rights from his films and books.
Beyond his film career, Kilmer made notable investments in real estate. He owned a sprawling 6,000-acre ranch in New Mexico, which he, at one point, wanted to turn into a resort/bed and breakfast.
As his medical needs worsened, Kilmer sold roughly 5,300 acres to an oil magnate for $18.5million in 2011. He sold a second portion of the property a few years later, but continued to own around 160 acres of the property at the time of his death.
Kilmer's kids Jack and Mercedes are expected to get most of his legacy.
His estate also included a Los Angeles home, art pieces, and intellectual property rights from his films and books. It was estimated his net worth was as high as $25million at the height of his successes.
However, after earning a reputation for being difficult to work, his career largely dried up. His wealth was also cut after his 1996 divorce from fellow actress Joanne Whalley.
Kilmer and Whalley had two children together – Mercedes, 33, and Jack, 29. Both are actors, and both had a strong relationship with their father, especially in his later years during his battle with throat cancer.
The two frequently appeared in public with him, and Jack even narrated his father’s documentary, Val, when Kilmer’s voice was severely affected by illness.
They are expected to inherit the majority of what is left of their father's estate.
Ex-wife Joanne Whalley and daughter Mercedes have asked for privacy.
Aside from the inheritance, it is believed Kilmer left some money to charitable causes. The Real Genius star was known for his philanthropic work, particularly in the areas of art, film, and cancer research.
Throughout his career, he supported various charitable causes, including environmental conservation and Native American rights.
He also became an advocate for cancer awareness and alternative healing methods after his own experience with the disease and having to undergo a tracheotomy.
Other endeavors included Kilmer helping out the next generation of great actors. Kilmer previously expressed interest in supporting young artists, and he had even converted part of his New Mexico ranch into an artistic retreat.
Daughter Mercedes Kilmer looks down following her famous dad's death.
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Kilmer's daughter confirmed he passed away in Los Angeles on Tuesday, April 1, from complications of pneumonia following a string of brutal health issues linked to his breathing after his body was ravaged by years of chain smoking.
She said he died "peacefully, surrounded by loved ones" – after years of him battling to talk and using a feeding tube.
Kilmer was diagnosed with throat cancer in 2015 after spitting up blood and endured extensive treatment, including chemotherapy, radiation therapy and a tracheotomy – which left him with permanent vocal damage and using a voice box to talk.
He was declared free of the disease in 2016 but continued to face huge health challenges related to his breathing and inability to exercise.
