![]() ![]() Vanilla Ice was the ultimate one-hit wonder. An Elvis recording could certainly drive sales well past what she could do on her own, and she’d still earn half her songwriting from his rendition.īut she didn’t and had this to say about the decision afterward: “When Whitney came out, I made enough money to buy Graceland.”ĭolly also has invested in a number of other ventures, including her Dollywood theme park, her Dolly Records label, a chain of restaurants called Dixie Stampede, a TV production company, and much more. But he wanted half her songwriting royalties. ![]() See after she released the song, Elvis Presley offered to record it himself. But it was Dolly’s savvy insistence on retaining her songwriting credit for the song decades earlier that kept her in the money as a result. 1 hit in its own right, then the 1992 Whitney Houston version of that song kept the money train rolling (even more than the original, actually). The story behind one of her most popular songs illustrates exactly this point, and the risks she was willing to take to protect her income.ĭolly wrote one of the best-selling singles of all time… “I Will Always Love You.” The 1974 original was a No. Not only is Dolly a prolific songwriter with well over 3,000 titles to her credit, but she also knows how to control and maximize the royalties they earn. ![]() Instead, he became the poster child for how to leverage music as a financial asset capable of much more. Meier could have simply retired off the royalties “Oh Yeah” makes in a year. Other investments include 250,000 acres in Argentina used for wine and cattle, as well as a large chocolate factory. Shrewd investments in a variety of business ventures–such as in a railway company, a holding company, and a luxury watchmaker–multiplied his net worth several times over. It has appeared in countless films, commercials, and even in the most recent season of Saturday Night Live.īut what puts Meier on the list is how he turned the money earned from that hit into an empire worth of $175 million. Immortalized in the film Ferris Beuller’s Day Off, Yello’s unconventional ‘80’s hit is a cultural staple. Who? The name Dieter Meier might not ring a bell, but his one-hit-wonder “Oh Yeah” will. All this, combined with investments outside the music industry (such as real estate, a movie theater, and even a nightclub) has his estate valued at over $50 million. Perhaps most importantly, he created his own publishing company, Islaee Music Publishing, worth an estimated $13 million. He drafted ironclad riders that imposed penalties on promoters that didn’t follow it by the letter. Between the ‘80’s and ‘90’s Berry played an estimated 100 shows a year. To save money, he hired local musicians rather than paying to transport his own band. So he began negotiating better contracts. His first big hit, “Maybellene,” listed radio DJ Alan Freed as a co-writer without his knowledge. His blunt insistence on seeing the money upfront stemmed from getting burned early in his career. The father of Rock N Roll, Chuck Berry, was famous for saying just three words before he would take any stage: “Where’s my money?” That included $2,500 in a paper bag before performing in a concert film celebrating his own 60th birthday. He codified the idea that an artist’s future earnings have investment potential. He raised $55 million from the offering upfront, and paid investors 7.9% interest over the next 10 years, after which royalty payments reverted back to him.īowie solidified the idea that an artist’s worth is measurable and valuable. So it seems only fitting that he designed the precursor for putting financial power back into the hands of artists with what became known as “ Bowie Bonds.”īowie offered investors the opportunity to buy securities backed by the current and future revenues of his pre-1990’s catalog (consisting of 25 albums and nearly 300 tracks). DAVID BOWIE: THE INNOVATORĭavid Bowie was renowned for his innovations in music, fashion, and business. ![]() So with that, here are five examples of artists who managed their money right, and what you can learn from them. Instead, we’re focusing on artists who made unique and successful financial decisions that anyone can learn from with or without a No. We’re looking for more than artists who can sell/stream a lot of music, pack large stadiums, or score lucrative branding deals. Simply listing off the richest musicians in the world, though, isn’t enough. So for a change of pace, let’s focus on a few that did the opposite. You’ve probably read plenty of articles about artists who famously mismanaged their money. ![]()
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