Rock Superstars Who’ve Blown All Their Dough

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mick fleetwood zippo kluv getty rob loud Rock Superstars Whove Blown All Their Dough

Mick Fleetwood blew through $8 million in drugs.    Getty Images/Rob Loud.

[lastfm link_type="artist_info"]David Crosby[/lastfm], [lastfm link_type="artist_info"]Billy Joel[/lastfm] and [lastfm link_type="artist_info"]Mick Fleetwood[/lastfm] are among a list compiled by CNBC of 15 musicians who went broke:

  • [lastfm link_type="artist_info"]David Crosby[/lastfm] blew a lot of his money on drugs, and in the mid-’80s, he was arrested and jailed for hit-and-run driving and possession of a concealed weapon and cocaine, which led him to file for bankruptcy. He recently told us, “If I had a time machine and I could go back with what I know now, I would never touch a drug.”
  • [lastfm link_type="artist_info"]Billy Joel[/lastfm] has declared bankruptcy multiple times. Most notably, his former manager and brother-in-law, Frank Weber, siphoned off $30 million for personal loans and dicey business investments without Joel’s knowledge.
  • [lastfm link_type="artist_info"]Meat Loaf[/lastfm]: He lost his voice while recording a follow-up to Bat Out of Hell, and by the time he finished it in 1981, he was no longer popular. By 1983 he was $1.6 million in debt.
  • [lastfm link_type="artist_info"]Ted Nugent[/lastfm]: Managers invested his money into such business ventures as Clydesdale horses and mink farms. Nugent declared bankruptcy in 1980.
  • [lastfm link_type="artist_info"]Dee Snider[/lastfm] of [lastfm link_type="artist_info"]Twisted Sister[/lastfm]: After Twisted Sister stopped being popular and broke up, Snider declared bankruptcy during the 1990s.
  • [lastfm link_type="artist_info"]Mick Fleetwood[/lastfm]: Fleetwood dumped millions of dollars into real estate and cocaine. By his own estimate, his drug use cost him roughly $8 million, and by 1984 his money was gone. It took him more than 10 years to get back on his feet.

The other artists on the list are [lastfm link_type="artist_info"]Toni Braxton[/lastfm], [lastfm link_type="artist_info"]Marvin Gaye[/lastfm], [lastfm link_type="artist_info"]MC Hammer[/lastfm], [lastfm link_type="artist_info"]George Clinton[/lastfm], [lastfm link_type="artist_info"]Leif Garrett[/lastfm], [lastfm link_type="artist_info"]Isaac Hayes[/lastfm], [lastfm link_type="artist_info"]Willie Nelson[/lastfm], [lastfm link_type="artist_info"]Jerry Lee Lewis[/lastfm] and [lastfm link_type="artist_info"]Ron Isley[/lastfm].  ~JZ.

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