There’s no denying that the rock and roll lifestyle is volatile, and so are the people who find themselves living it. As a result, it seems like you hear stories about once-famous musicians going broke every other day. When you’re living fast and hard, you can’t afford to think about things like stocks, bonds and other investments!
A list of musicians who’ve gone broke, then, could rather easily fill a novel. For your convenience, though, we’ve identified the 15 most incredible stories of musicians who’ve gone broke. Thankfully, many of these stories have happy endings, but a few do not. Think you know who these musicians are going to be? You might be surprised…
1. David Crosby
Maybe he should have just stuck to being the “C” in CSNY. Rocker David Crosby found great success in the ‘60s and ‘70s playing with iconic bands like The Byrds, Buffalo Springfield and Crosby Stills Nash & Young along with its numerous incarnations (which usually hinged on Neil Young’s mood) but struggled to stand alone after going solo. Poor album sales combined with multiple arrests in the early 1980s for drug, weapons and impaired driving charges forced the musician to file for bankruptcy in 1985.
Crosby blames his longstanding drug habit for his financial woes, once admitting that he’d spent “many, many millions of dollars” on his drug habit over the years. Crosby has since kicked his hard drug habit but admits he still enjoys the occasional “jazz cigarette.”
Whether he’s been able to solve his financial troubles, it’s hard to say; it’s rumored that Phil Collins helped him pay for his highly talked about liver transplant in 1994.