Rock Stars You Know And Love Who Went Broke
We’ve all been to a concert of our favorite artist and enjoyed the music. But have you also wondered how much money they’re making performing?
We all know popular music artists make money. But have you ever wondered if those music artists go broke? The short answer, yes they do! Or some of them anyways.
UltimateClassicRock.com put together a list of rock stars who in fact went broke, even after all the money they’ve made. You’ll be shocked to see some names on the list! Below are just a few of them.
How Do They Go Broke?
If you think about it, it’s not hard to lose millions of dollars. It doesn’t just happen to rock stars. It happens to the average person who happens to have a lot of money. For rock stars, it’s all about the lifestyles they live. They spend money on things that aren’t really necessary but show they are in fact rock stars. From drugs, huge homes, and expensive exotic cars, to expensive dinners and more! All to show they live a very lavish lifestyle.
Which Rock Stars Went Broke?
Mick Fleetwood
He claims he’s been bankrupt seven times! Mick Fleetwood said quote, “I’m like Donald Trump.” He claimed to have snorted about $60 million worth of cocaine over the span of his career. He also blew a ton of his fortune on an Australian farm.
Meat Loaf
Meat Loafs album from 1977, “Bat Out of Hell” sold over 40 million copies. six years after it was released, Meat Loaf declared bankruptcy. Most of the money he lost because of lawsuits related to royalties he was getting.
Ted Nugent
The rocker declared bankruptcy back in 1980. He had a bunch of bad investments that included a mink farm, a herd of Clydesdales, and even a failed hotel in Flint, Michigan.
Billy Joel
The “Uptown Girl” singer had hired his brother-in-la to handle all his finances. His brother-in-law ended up screwing him over and stole millions from Joel. He did all that while taking out giant loans and making shady investments in the singers name.
John Oates
Oates found out he was broke back in 1987. He said with all the money he made, he just lived above his means. He even said at one point, the $50 in his wallet was literally the only liquid asset he had.
