Bruce Springsteen is one of the most prolific rock singers in the West, with 21 albums and many more compilations and other projects. The singer sold his catalogue's masters and publishing rights to Sony Music in 2021 for a deal worth $500million. This subsequently led to a July 2024 report by Forbes which estimated that the singer is worth $1.1 billion.
Now in a new interview with The Telegraph published on October 25, 2024, the singer has denied the claims of being a billionaire, stating:
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“I’m not a billionaire. I wish I was, but they got that real wrong. I’ve spent too much money on superfluous things.”
He also stated that while he wants to enjoy the fruits of his labour, but he would never let the finer things become his primary focus, stating:
“that’s usually where people go south. If I had failed at that, I would have failed at everything, in my opinion."
Bruce Springsteen's wealth explored
Bruce Springsteen's primary wealth comes from two sources, his music catalogue and its associated rights and his continued touring throughout the years. Aside from his music and touring, his wealth also comes from his considerable real estate.
Starting with his music catalogue, as mentioned above, Bruce Springsteen has so far released a total of 21 albums, including seminal works such as The River, Born in the U.S.A., and Human Touch.
Alongside his solo albums, he also is worked on the soundtrack albums, Blinded by the Light: Original Motion Picture Soundtrack and Western Stars – Songs from the Film. He has also contributed on works such as Kindred Spirits: A Tribute to the Songs of Johnny Cash and Looking Into You: A Tribute to Jackson Browne.
As previously mentioned, the singer sold his masters and publishing rights for a total of $500 million. The singer stated at the time of the sale in 2021, quoted via Billboard's article on the matter that was last updated on December 16, 2021 and first published on December 15, 2021:
“I am one artist who can truly say that when I signed with Columbia Records in 1972, I came to the right place. During the last 50 years, the men and women of Sony Music have treated me with the greatest respect as an artist and as a person. I’m thrilled that my legacy will continue to be cared for by the Company and people I know and trust."
Combined with that $500 million is the singer's touring revenue. While exact profit margins are not available at the time of writing of this article, Pollstar estimated that the singer brought in a revenue of $380 million for a total of 1.1 million ticket sales back in 2023.
Pollstar has also estimated that the singer grossed over $201.1 million in revenue in the first and second quarter of 2024 alone, with an average concert grossing $7.2 million.
Coming to his real estate, Bruce Springsteen has several large properties, starting with 4.5 acre property in Beverly Hills he and his wife Patti Scialfa bought for $13.75 million back in 1999 ($24.54 million in today's currency). He is later said to have bought another property worth $60-70 million in 2015, but said property ownership is unconfirmed at the time of writing.
Therefore, Bruce Springsteen is now one of the richest music stars in the west, behind artists like Jay Z, Taylor Swift, Rihanna, and ahead of stars like Madonna, Beyoncé and Kanye West.
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