About Gordon Lightfoot
| Net Worth: | $25 Million |
|---|---|
| Profession: | Professional Singer-songwriter |
| Date of Birth: | November 17, 1938 |
| Country: | United States of America |
| Height: | 1.83 m |
Gordon Lightfoot has sold around 8 million records worldwide and first toured in 1967. He may have also enjoyed lower tax rates than his American contemporaries. When he released his first studio album Lightfoot!, in 1966, federal tax rates in the US were 70% for earnings over $200,000. However, it seems Lightfoot may have been residing in Canada where tax rates were lower. He lived in Los Angeles in the late 50s but returned to Toronto in 1960 and has been living in Canada since. That said, though he has done much work in the United States, under an H-1B visa.
In any case, in the mid-60s, it wouldn’t have affected Gordon much, considering his earnings were not near that amount until 1970, when he released Sit Down Young Stranger. And even then, his earnings only really began to pick up by the mid-70s and 80s. The actual quantity of dollars earned was also far less, as the dollar in 1971 is the equivalent of 7 dollars today. Fortunately, it is expected that some of his earnings were prudently invested.
Lightfoot’s Total Net Worth
Gordon Lightfoot has released 19 studio albums, three live albums, 16 greatest hits albums and 46 singles. Having sold around 8 million records, toured during his career and also made a deal with Spotify, it is estimated that he has earned total career income of around $35 million dollars. That figures also includes his work on soundtracks and as an actor and a composer, as well as all of the appearances that he has made as himself. He also has over 2 million monthly listeners on Spotify.
Of that amount, $1-3 million is expected to have been paid in business related costs. The remainder, $33 million, will have been taxed at a rate of around 56% as Gordon Lightfoot has been residing in Canada but also worked on a H-1B visa. After tax, it is estimated that his career earnings are at around $14.52 million dollars, having paid $18.48 million dollars in taxes.
Lightfoot has married three times and divorced twice. His first marriage to Brita Ingegerd Olaisson lasted ten years between 1963 and 1973, his second to Elizabeth Moon for twenty-two years between 1989 and 2011. In 2014, he married Kim Hasse and they remain together. In total, it is estimated that around $8-9 million may have been paid by Lightfoot in divorce settlements and looking after his children and family in general. Around $6-7 million is estimated to have been paid to Elizabeth Moon.
In his personal life, Gordon is estimated to have spent around $3-5 million dollars of his career earnings but also probably possesses assets valued at around $1-2 million, not including investment assets. Some of his career income will have been converted into investment assets, his returns from which are being estimated at $20 million dollars in value. Therefore, it is estimated that Gordon Lightfoot has a net worth of around $25 million dollars.
