How much was Eddie Money worth?
| Net Worth: | $18 Million |
|---|---|
| Profession: | Professional Singer |
| Date of Birth: | March 21, 1949 (aged 70) |
| Country: | United States of America |
| Height: | 5 ft 10 in (1.8 m) |
About Eddie Money
Eddie Money was an American rock singer and songwriter who was born in Brooklyn, NY under the name Edward Joseph Mahoney on March 21, 1949. Even though his father was a police officer, Eddie had passionate dreams of becoming a musician, however, he decided that after he finishes high school he will take after his father’s footsteps and join the police force. Eddie was able to successfully serve two years as a New York City Police Officer in 1968. Shortly after that, he decided to give the police officer job a rest and focus more on music.
Once Eddie Money relocated to Berkley, California he began to perform gigs at local clubs in the area. In 1976, famous promoter Bill Graham had an event that featured a performance from Eddie Money. Prior to his performance, Mr. Money had taken the opportunity to change his surname from Mahoney to Money. After this life-changing event, Mr. Eddie Money was beginning to see his dreams come true, he was finally introduced to the promoter of the event, Mr. Bill Graham.
Eddie Money became famous because he consistently performed at a high caliber and he had the ability to move the crowd with his music. It was very habitual for Eddie Money to perform at the local clubs in the San Francisco Bay Area of California.
In 1977, the attention of Bill Graham gave Eddie a secured contract under Columbia records and help him release his debut album. Single hits such as “Baby Hold On” and “Two Tickets To Paradise” made the billboard charts causing Eddie’s fame to rise. Both songs were written about how Mr. Money visits his girlfriend even though he doesn’t have any money.
In 1978, Eddie Money was able to perform at the Boston Music Hall as an opening act for Santanna. Shortly after that year, a song title “I’m Alright”, performed and written by Kenny Loggins, featured Eddie Money singing on the bridge of the song.
Thirty-Five years later, in 2014, Eddie Money told the media that Kenny Loggins never gave him his recognition or credit for his contribution to the song.
Eddie Money became rich because he put a lot of emotion and passion into his music which caused his fan base to rise to unimaginable numbers. The fans were able to relate to his music on a personal level and they helped support his career by being supportive customers as well.
In 1982, Eddie Money began to learn the MTV music video scene and learned to take advantage of it. He crafted very humorous narrative music videos for his songs such as the video for “Think I’m In Love” as well as “Shakin”. These songs were both performed successfully at the Mission Inn Hotel and Spa.
During the early 1980s, Money appeared in many musical shows as well as late-night comedies such as Fridays, Solid Gold, and The Midnight Special. In 1978 and 1984 Eddie Money was able to appear in American Bandstand. Unfortunately, Eddie Money’s career wasn’t high rising all the way through. He actually had a very dramatic downfall when he began to indulge in the heavy use of illegal drugs.
This event caused Mr. Money’s career to plummet in 1983 and even may have caused him to release a very unsuccessful album titled Where’s The Party.
Eddie Money became very successful due to his impact on his fans and his target audience with his musical content.
In 1980, Mr. Money overdosed on a synthetic substance of barbiturate after thinking it was cocaine. Mr. Money was very intoxicated from drinking vodka during that moment and ended up damaging his sciatic nerve in his left leg. This caused him to be unable to walk for months and left him with a permanent limp.
On the day of Valentine’s Day in 1984, a very special event took place in the life of Eddie Money. He was in Moraga, California when he married his fiance Margo Lee Walker. She was a twenty-four-year-old college student from Los Angeles. When they planned their wedding they were planning for it to be very private, however, during the wedding, a large crowd of teenage fans showed up yelling and screaming.
Eddie’s Total Net Worth
Eddie Money has earned estimated total career income of $40 million dollars. As Eddie lived in the state of California, and earned through some high federal income tax years, he will have had to pay around 54% in taxes on his career income. After tax, it is estimated that his career earnings were $18.4 million dollars, having paid $21.6 million dollars in taxes.
Eddie Money was married to Laurie Money from 1989 until his death, in 2019. In the year 2000, he bought a property in Westlake Village, California, where he lived with his family. In his personal life he likely spent $3-4 million dollars of his career earnings but also earned $5 million dollars from his investments. He will have also had to pay around $2 million dollars in business related costs. Therefore, it is estimated that Eddie Money has a net worth of about $18 million dollars.
Summing-Up
In Conclusion, Eddie Money, also known as Edward Joseph Mahoney has been through the ups and downs of life as a celebrity. Starting off as a New York City Police Officer, Mahoney wanted to be a similar man to his father. With two years of hard work, Mr. Mahoney was able to keep his father’s name and the family’s reputation in good conversation. Although he respected his father’s career, Mahoney had some dreams of his own. He laid the official badge and handgun to rest and began chasing after his desired musician recognition.
