Sir Mick Jagger, 80, hints he will give away his $500 million fortune to charity instead of his children when he dies: ‘They don’t need it’
Mick Jagger has hinted that his share of the Rolling Stones’ back catalog will be given to charity instead of his children.
Rocker Mick, 80, said his eight children “don’t need $500 million to live on,” so he has apparently come up with another way to donate his fortune.
In an interview with The Wall Street Journal, he said that leaving the money to charity “could do some good in the world.”
The Stones were forced to learn how to manage themselves financially after facing serious property rights problems.
They still don’t own the rights to their pre-1971 catalog – which includes many of their biggest singles such as Satisfaction, Paint it Black and Jumpin Jack Flash.
Big ideas! Mick Jagger has hinted that his share of the Rolling Stones’ back catalog will be given to charity instead of his children
Family: Rocker Mick, 80, said his eight children ‘don’t need $500 million to live on’ so he has apparently come up with another way to donate his fortune (photo Karis, Jade, Mick, Georgia May and Lizzy )
The band hired accountant Allen Klein in the 1960s to stabilize their finances. Klein had worked with The Beatles and The Kinks and negotiated a lucrative deal for the Stones with Decca, but when the partnership ended he managed to retain ownership of their catalog for the years he managed them – from 1965 to 1970.
The Stones received millions of pounds in royalties, but not as much as if they owned the music outright.
Other music stars have sold the rights to their work in recent years, including Bruce Springsteen, Paul Simon and Sting. No decisions have been made regarding the Stones catalogue.
If Sir Mick’s daughter Georgia May, 31, a successful model, was bothered by her dad’s comments, she didn’t show it as she partied at Paris Fashion Week with mum Jerry Hall.
The couple wore black velvet outfits at the Yves Saint Laurent show on Tuesday.
While Mick may worry about what will happen to his money when he’s gone, he recently said that their music might live on for much longer.
This week he discussed the possibility of The Rolling Stones outliving his life with the rise of AI technology in the music industry.
Abba has achieved huge success with their virtual concert residency Abba Voyage, in which ‘Abba-tars’ portrays the singers as they appeared in the heyday of the 1970s.
Hackey Diamonds: The Rolling Stones – made up of Mick, Keith Richards and Ronnie Wood – release their first album of new material in 18 years, and their first since the death of Charlie Watts
The frontman discussed the possibility of a ‘posthumous tour’ with AI avatars portraying himself and his bandmates on stage.
Referring to Abba’s success, he said WJ. Magazine: ‘You can have a posthumous company now, right? You can get a posthumous tour.
“Technology has really evolved since the ABBA thing, which I was supposed to go to, but I missed it.”
The Rolling Stones – consisting of Mick, Keith Richards And Ronnie Hout – release their first album of new material in 18 years, and their first since the death of Charlie Watts.
Drummer Charlie sadly passed away in August 2021 at the age of 80 due to complications from emergency heart surgery.
There are two songs on the new album that were recorded in 2019, meaning the late drummer will still appear on the project as a sweet tribute to the music icon.