Rolling Stones rocker considering leaving $500M catalog to charity, not his children
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Some worthy cause might soon be rolling in the dough! Mick Jagger has fronted one of the world’s most iconic bands, The Rolling Stones, since the mid-’60s, and the group is hugely valuable — as is Mick individually. However, there’s a very real chance that none of his eight children will see a dime of his Rolling Stones money because he doesn’t think it would make much of a difference in their lives.
Keeping clicking to see how much money Mick says his portion of the Stones’ catalog is worth and what he plans to do with the money…
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Although it’s become commonplace for artists to sell their catalogs for hefty sums, Mick Jagger doesn’t plan on doing such a thing. If he did, his heirs wouldn’t see any of the financial windfall.
“The children don’t need $500 million to live well. Come on,” he told WSJ. Magazine. Asked what he would do with the money, the rocker said he might donate it to charity and “maybe do some good in the world.”
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Perhaps one reason that Mick Jagger doesn’t want to sell his portion of the Rolling Stones catalog is because he doesn’t like the business aspect of the music industry. Mick and his bandmates only owned their music after 1971. Their former accountant Allan Klein secured the copyrights to the group’s earlier discography. When Mick and Keith Richards cut ties with Allan, his company, ABKCO Music & Records, kept ownership of the music, while the band walked away with only royalties.
“I don’t actually really like business, you know what I mean?” Mick said. “Some people just love it. I just have to do it. Because if you don’t do it, you get f*****.”
Mick went on to reference Taylor Swift’s notorious battle with Scooter Braun over the master recordings of her songs.
“The industry was so nascent [back then], it didn’t have the support and the amount of people that are on tap to be able to advise you as they do now,” he explained. “But you know, it still happens. I mean, look what happened to Taylor Swift! I don’t really know the ins and outs of it, but she obviously wasn’t happy.”
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Mick Jagger, who turned 80 in July, knows that the Rolling Stones’ songs will certainly outlive him. Then again, maybe he won’t actually go anywhere.
“You can have a posthumous business now, can’t you? You can have a posthumous tour,” he said. “The technology has really moved on since the ABBA thing, which I was supposed to go to, but I missed it.”
Last year, the Swedish group launched their “Voyage” virtual show in London. It features incredibly life-like virtual avatars of the band members performing their biggest hits.
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Mick Jagger’s plans to abstain from sharing his wealth with his children has nothing to do with any kind of friction in the family.
“I have this really wonderful family that supports me,” he said. “And I have, you know, young children — that makes you feel like you’re relevant.”
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