Despite hit songs, sold-out tours and millions of sold albums, many famous rock stars have found themselves facing bankruptcy.
When fans envision a rock star lifestyle, it usually involves sprawling mansions, fast cars and endless nights of partying. What often gets overlooked is the cost of such extravagances. Lavish lifestyles don’t come cheap, the IRS is always looking to get its share and the only people who are (arguably) more persistent than Uncle Sam are drug dealers.
Mick Fleetwood, David Crosby, John Oates and Sly Stone are just some of the artists whose wild lifestyles have taken them to the poorhouse. Meanwhile, Willie Nelson and Jerry Lee Lewis are among those who’ve been taken to the cleaners by the IRS.
In other situations, artists seemingly made all the smart financial moves, only to have a trusted ally swindle them out of fortunes. Billy Joel reportedly lost more than $30 million to his former manager, with Leonard Cohen and Harry Nilsson facing similar situations.
Courtney Love blamed predatory music executives for her financial woes, while George Clinton claimed to have been tricked into signing away his publishing rights.
Still, every money problem is distinct. Cyndi Lauper faced bankruptcy before she ever became famous, divorce proved disastrous for Marvin Gaye and Dee Snider was wiped clean by grunge.
Then there’s the case of Tom Petty, who went bankrupt on purpose to battle his record label, as you’ll see in the below list of 20 Rock Stars Who Went Broke.
20 Rock Stars Who Went Broke
Millions of dollars sure can disappear fast.
Gallery Credit: Corey Irwin
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source ultimateclassicrock.com ’
