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Buffett No. 7 on Rock’s Richest

March 10th, 2006

Jimmy Buffett comes in at Number 7 on Rolling Stone’s “Richest Rock Stars of 2006.”

Side businesses and endorsements were another lucrative source of income, and the king of that approach is Jimmy Buffett (No. 7, $44 million), who not only grossed $41 million on his annual amphitheater tour but also earned around $15 million from his ten Margaritaville restaurants (which also sell merchandise such as Parrothead hats), a deal with Sirius Satellite Radio and other ventures.

Buffett also owns his own record label, Mailboat Records, enabling him to earn as much as $5 royalty per record sold, as compared to the standard $1 to $2.50. “Jimmy Buffett is a cottage industry by himself,” says Arfa. Says Guerinot, “It’s a lifestyle thing. It’s every thirty-eight-year-old with a BMW spending his seventy-five dollars on a ticket.”

Here’s a look at the Top Ten:

1. U2, $154.2 million
2. The Rolling Stones, $92.5 million
3. Eagles, $63.2 million
4. Paul McCartney, $56 million
5. Elton John, $48.9 million
6. Neil Diamond, $44.7 million
7. Jimmy Buffett, $44 million
8. Rod Stewart, $40.3 million
9. Dave Matthews Band, $39.6 million
10. Celine Dion, $38.5 million

See the rest of the list here.

Tagged in Business Empire, In The News