Musicians Making More Money Outside Their Musical Careers

Many famous musicians are well-known for their contributions to the world of music, but some have found new and lucrative paths outside of their musical endeavors. This article explores the hidden successes of artists who have made significant financial gains through ventures outside of the traditional music industry. Among them are Skunk Baxter, Sammy Hagar, Travis Barker, Ian Anderson, and Thomas Dolby. This comprehensive look at their entrepreneurial success sheds light on the diverse income streams that musicians can pursue.

Skunk Baxter: From Session Guitars to Missile Defense Systems

Skunk Baxter, a session guitarist for renowned bands such as Steely Dan and the Doobie Brothers, found himself far from the music industry when he became a top secret consultant for the US government in missile defense systems. This transformation is a testament to the value of specialized skills that extend beyond music. While exact figures are not available, it is reasonable to assume that Baxter's salary from these government contracts was likely higher than his music royalties. Many session work and performance earnings often do not extend to songwriting royalties or vast music royalties.

Fortune Through Entrepreneurship

While many musicians invest in real estate and other traditional financial instruments to secure long-term wealth, some have found innovative ways to monetize their unique talents and experiences. This section highlights a few specific examples of musicians who have leveraged their entrepreneurial spirit to achieve financial success.

Sammy Hagar

Sammy Hagar gained significant financial gains through his business ventures. He sold his interest in his tequila company, Cabo Wabo Tequila, for $80 million approximately ten years ago. This move showcases how elaborate and strategic financial decisions can yield substantial financial rewards.

Travis Barker

Travis Barker, the drummer for Blink-182, has successfully started and continues to run several businesses. His entrepreneurial ventures are a good example of how musicians can leverage their existing networks and skills to create and sustain multiple streams of income beyond music.

Ian Anderson

Ian Anderson of Jethro Tull managed to buy and run a profitable salmon fishery. Not only does this provide him with a significant income, but it also illustrates the diverse ways in which musicians can diversify their income sources.

Thomas Dolby: Ring-Tone Profits of the 1990s

Thomas Dolby, a pop star known for his hit “She Blinded Me with Science,” took his entrepreneurial spirit to the technological realm. He started a ring-tone company in the 1990s, creating musical ringtones for early cell phones and selling them to service providers. This move not only capitalized on his musical talent but also carved a niche in the burgeoning mobile market of the time.

While it's hard to say with certainty whether Dolby made more money from his music or his ring-tone venture, his innovation and foresight were crucial in establishing his financial success outside of the traditional music industry.

Conclusion

Musicians are often multi-talented individuals with a range of skills that can be applied to various industries. This article has highlighted the diverse financial ventures pursued by a few famous musicians. Their stories encourage other artists to consider alternative income streams and to use their unique talents in new and innovative ways.