00:0011 music icons you thought were set for life, they aren't
00:0511. Scott Stapp, Creed
00:08Platinum records and sold-out arenas couldn't protect Scott Stapp from financial collapse.
00:13Selling over 50 million albums, he was impoverished by 2025.
00:1810. Ace Frehley, Kiss
00:21Kiss guitarist Ace Frehley's finances crumbled despite his legendary status.
00:26Earning $18 million from 90s tours, 2024 IRS debts halted promotions.
00:339. Sly Stone, Sly and the Family Stone
00:38Musical revolutionaries face financial ruin, exemplified by Sly Stone.
00:42Although he won $5 million in royalties in 2015, earlier rights agreements depleted his wealth,
00:48underscoring the need for legal protection.
00:518. Sigur Ros
00:54Tax authorities investigated Sigur Ros over 151 million Krona tax charges, cleared by 2023,
01:01emphasizing musicians' need for tax expertise.
01:047. Leif Garrett
01:06Teenage heartthrob Leif Garrett tumbled from magazine covers to bankruptcy courts at breathtaking speed.
01:13Substance abuse led to financial collapse. Early financial planning is crucial.
01:186. Tony Braxton
01:217 Grammy Awards couldn't shield Tony Braxton from devastation.
01:25Royalties of $1,972 on $170 million forced bankruptcies, highlighting crucial contract fairness.
01:345. Toto
01:37Grammy-winning band Toto faced financial strain despite global album sales, losing a lawsuit, yet continued touring.
01:446. Tommy James
01:47Tommy James and the Shondells
01:49Mob-connected Morris Levy stole $30 to $40 million from Tommy James in 1966, threatening him during audits.
01:576. Randy Travis
01:59Randy Travis
02:01Catastrophic illness shattered country star Randy Travis's empire overnight.
02:06His catastrophic health event highlights the necessity of financial protection for artists.
02:112. Ryan Adams
02:14Allegations of misconduct destroyed Ryan Adams' career and financial stability. By 2021, he lost his label, home, and career.
02:231. Bill Wyman
02:25The Rolling Stones
02:27Despite immense success, the Rolling Stones and bandmates stayed penniless due to management's exploitation, proving fame offers no financial security.
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