5 musicians who

went broke

How Do Famous Musicians Go Broke?

How Do Famous Musicians Go Broke?

Many musicians focus their whole lives on creating something new. They spend little, if any, time learning how to manage their money. Shady managers and investment opportunities come out of the dark corners to help them with their newfound wealth.

Billy Joel

Billy Joel

Joel found out that his financial advisor Weber had mismanaged his funds to the tune of $90 million. Joel only recovered $8 million of his squandered funds even after a court battle. Don’t worry about Billy Joel though. His current net worth is over $250 million.

Willie Nelson

Willie Nelson

Nelson toured extensively and found financial success. He was also arrested for possession of marijuana many times. Nelson found himself on the wrong side of the law yet again in 1990. Nelson’s tax attorney let him know and he sent his beloved guitar Trigger to Hawaii with his daughter. Shortly after, the IRS seized and sold all of Nelson’s assets to pay for his $32 million tax bill.

Broke Musicians Can Rebuild

Broke Musicians Can Rebuild

It’s hard for many of us to imagine rising to the level of success that these five artists did. The amount of money involved in these lawsuits is mind-boggling. The fact is that many of these musicians started from nothing.

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