ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

Mick Jagger says his ‘kids don’t need $500 million’ — plans to give Rolling Stones catalog to charity

The "Rolling Stones" singer said leaving a part of the inheritance might "do some good in the world."
UPDATED DEC 24, 2024
Mick Jagger photographed during a performance (Cover image source: Getty Images | Ethan Miller)
Mick Jagger photographed during a performance (Cover image source: Getty Images | Ethan Miller)

Rock legend Mick Jagger hinted at giving away $500 million of his fortune saying his kids don't need it. In an interview with The Wall Street Journal, one of the founding members of the "Rolling Stones" said leaving a part of the inheritance might "do some good in the world," instead. The band has made millions over their long career and their post-1971 catalog could be worth $500 million, as per Jagger. 

 The Rolling Stones lead singer Mick Jagger | Getty Images | Photo by Stu Forster
The Rolling Stones lead singer Mick Jagger | (Image source: Getty Images | Photo by Stu Forster)

In an interview last year, the rockstar discussed the business side of the Rolling Stones with the Wall Street Journal as the band released their first album with original songs in 18 years. 

Jagger shared that he doesn't enjoy dealing with the business side, but it is necessary. When asked about their post-1971 catalog and if he would be willing to sell it, Jagger answered with a resounding no. He added that his "children don't need $500 million to live well" and suggested that he may even donate his fortune to charity someday.

Mick Jagger and Jerry Hall with Elisabeth Jagger, circa 1984 | Getty Images | Photo by Georges De Keerle
Mick Jagger and Jerry Hall with Elisabeth Jagger, circa 1984 |(Image source:  Getty Images | Photo by Georges De Keerle)

Jagger has eight kids, Karis, Jade, Elizabeth, James, Georgia May, Lucas, Gabriel, and Deveraux, between the ages of seven and 53. While he claimed that he would give away his fortune, he believes his kids could still make money off his name.

“You can have a posthumous business now, can’t you?” Jagger said, adding that they can even have a posthumous tour of the band.



 

It is understandable why Jagger may want his children to fend for themselves as the Stones had to do the same. In 1960, they hired accountant Allen Klein to stabilize and manage their finances. Klein had previously worked with renowned bands like The Beatles and the Kinks.

He negotiated a lucrative deal with the Stones but when their partnership ended he retained ownership of their catalog for the years he managed them. Thus, the music catalog of The Stones from 1965 to 1970, which includes hit singles like Satisfaction, Paint it Black is owned by ABKCO Music & Records, founded by Klien, as per RollingStone. 



 

In the interview, Jagger expressed that at the time the industry "was so nascent" that it didn't have the support and the people to provide them with the right advice. 

"But, you know, it still happens... look what happened to Taylor Swift. I don't really know the ins and outs of it, but she obviously wasn't happy," he added. 

The band has been in a legal battle with the label to retain its ownership. Despite not having ownership, The Stones has reportedly made millions in royalties from the songs. 

Furthermore, their post-1971 music catalog could go for millions as well. Similar music stars have sold the rights to their work in recent years, including Bruce Springsteen for $550 million, and Paul Simon for $250 million. However, as Jagger said, The Stones have made no decision on selling their music catalog.

Like Jagger, Simon also indicated in a SiriusXM interview, that his children are not interested in running his publishing business, and he doesn't blame them, digitalmusicnews reported. Several other celebrities, like Daniel Craig, Ashton Kutcher, Jeff Goldblum, and more have also opted to give away their fortune instead of leaving an inheritance, as per US Weekly.

This article originally appeared 2 months ago.

MORE ON MARKET REALIST
According to the expert, personal letters and a signature from Tolkien himself added to the value of the book.
7 hours ago
Chistina and Katie Currie won over $88,000 in cash and two exotic vacations with their stunning performance.
8 hours ago
After everyone backed out, the billionaire Shark stepped up to help the founder of Diaper Dust.
1 day ago
Sun kept repeating the incorrect phrase but couldn't identify the error in time.
1 day ago
After almost closing a deal with Mr Wonderful, the founder of 'Simply Good Jars' pivoted hard.
1 day ago
The host thought it was the "worst possible answer" to give even as the team felt it was good enough.
2 days ago
Adding to the controversy, the owner of Dr. Mudd's lapdesk asked Harrison for $100,000.
2 days ago
With just milliseconds to spare, Sarah LaPilusa pulled off an incredible Bonus Round win.
2 days ago
Ozark Trail 64 oz Water Bottles were recalled after the lids of faulty bottles forcefully ejected.
3 days ago
The player laughed and giggled her way through the puzzles to win prizes worth over $57,000.
3 days ago
Scott Riccardi placed an unbelievable wager during Final Jeopardy! to win a massive amount in a day!
3 days ago
The guest got a 200% return on investment on her sculpture that she bought from Macy's.
3 days ago
Jennings had a record-setting winning streak as a contestant before he became the host.
4 days ago
The player, Ron Wheeler, tragically got no clues after his letter picks for the final puzzle.
4 days ago
The former kids champion, Skyler Hornback knew what was coming.
4 days ago
The fans took issue with the clue being too tough and unnecessary for the contestants.
5 days ago
Cuban wanted to strike a deal with the founder of Coconut Girl and gave her an ultimatum.
5 days ago
Although the word did make a lot of difference, some fans felt that the decision was ridiculous.
5 days ago
The guest, who found the item online, didn't think it was the real deal until he heard its value.
6 days ago
The player Samantha secured the first big win of Ryan Seacrest's run on the show.
6 days ago