Tom Scholz Made Timeless Contributions to Rock Music, What’s His Net Worth Today?

Tom Scholz's net worth

Renowned for founding the band Boston, Tom Scholz is an American musician, guitarist, and songwriter. He gained massive recognition with the release of the band's debut album, "Boston," in 1976. Following Boston's success, he founded a research and development company dedicated to manufacturing his music technology inventions. Today, his net worth stands at an impressive $100 million.

What are Tom Scholz's sources of income?

Tom began his songwriting journey while attending MIT. During this time, he met his future bandmates, Barry Goudreau and Jim Masdea. After graduating, he constructed a recording studio in his basement and created music.

It was with his final set of demos that he captured the interest of Epic Records. Teaming up with vocalist Brad Delp, Tom signed a contract with Epic Records. The original Boston lineup was completed with the addition of Goudreau, Fran Sheehan, and Sib Hashian.

In 1976, the band released its self-titled debut album, featuring chart-topping singles like "More Than a Feeling" and "Peace of Mind." The single "More Than a Feeling" has since become a rock classic.

Boston's second album, "Don't Look Back," faced delays due to tensions with Epic Records but achieved considerable success upon its release in 1978. Following legal disputes with Epic Records, Boston moved to MCA Records. In 1986, the band released its third album, "Third Stage."

After a break, Boston returned with the 1994 release of "Walk On," the band's first album featuring vocalist Fran Cosmo. The subsequent studio album, "Corporate America" (2002), marked the last recording with vocalist Brad Delp. In 2013, the band released its sixth studio album, "Life, Love & Hope." 

Scholz Research & Development

In 1980, Tom founded Scholz Research & Development, a music technology company where he crafted various inventions. The company's first invention was the Power Soak attenuator, designed for placement between a guitar amplifier and speaker.

Rockman

In 1982, SR&D introduced the Rockman headphone electric guitar amplifier, enabling users to replicate the distinctive guitar sound associated with "Boston." Over the years, the company expanded its offerings to include signal processing equipment like the Rockmodules—professional-grade rack-mount guitar effects.

However, SR&D closed down in 1994 due to the popularity of digital effects, overshadowing the analog-designed Rockman line. Today, the original Rockman units have become collectibles among enthusiasts and musicians. 

Tom Scholz's personal life

Tom was born on March 10, 1947, in Toledo, Ohio. He was raised in the suburb of Ottawa Hills. His father, Don Scholz, founded Scholz Design, the forerunner of Scholz Homes Inc.

In 1971, the singer married his first wife, Cynthia Hartford. Together, they had a son, Jeremy, before eventually parting ways. In 2007, he married Kim Hart. Currently, the couple resides in Boston, Massachusetts.

In 1987, Tom established the DTS Charitable Foundation, dedicated to various causes, including animal protection, global hunger, and children's rights. He also created shelters and food banks for the homeless. In 2013, PETA awarded him their Compassionate Action Award.

FAQs

What is Tom Scholz's net worth?

As of 2023, Tom Scholz's net worth is $100 million.

What did Tom Scholz invent?

While the Rockman is Scholz's most celebrated invention, it was not his first. He previously designed an attenuator that he called the Power Soak.

How did Tom Scholz make his money?

After the success of Boston, he founded Scholz Research & Development, Inc. to develop and market his inventions. He holds several patents related to his work at SR&D.