Prince had chronic money problems in the years leading up to his death according to multiple insiders that knew the singer’s personal affairs.
Sources with intimate knowledge of his finances have revealed that Prince refused to leverage or sell his greatest asset — his vast music catalog, for the cold hard cash he so desperately needed while alive.
The most common road out of the poor house for song writers and musicians is to earn a steady flow of income through the sale or licensing of their work. We’re told Prince consistently shut down business opportunities that could have fueled his finances, sticking to the mantra of a starving artist…literally if need be, rather than surrender to commercialism.
Prince had numerous opportunities to use his music in movies, TV shows and commercials, but with few exceptions, he turned them all away like a Christ figure whipping money-changers from his temple.
Prince’s primary income came from concerts, but the music icon was so impulsive and erratic with his scheduling that he would do shows on the spur of the moment without fanfare and next to no promotion. Although many tours were successful, just as many were not, causing his estate to hemorrhage money.
Much like congress, Prince spent way more than he actually had, which included nursing a $40,000 a month drug habit, meaning the would be multi-millionaire was always looking for his next payday. It also turns out that Prince’s estimated net worth of some $300 million was an exaggerated fortune that simply didn’t exist.
But it never had to be this way, if only Prince had swallowed his pride and embraced entrepreneurship like he did his art.
