Duff McKagan, the iconic bassist of Guns N’ Roses, boasts an impressive net worth of $70 million.
He has achieved success not only through his extensive music career but also through astute financial investments and various other business ventures.
Known for his sharp business sense, McKagan has grown his wealth through smart decisions both in and out of the music world.
Early Life and Musical Beginnings
Born Michael Andrew McKagan on February 5, 1964, in Seattle, Washington, Duff McKagan grew up in a large family with seven older siblings. His musical journey began in his teenage years when his brother Bruce taught him how to play bass.
McKagan’s early musical influences were punk bands like Black Flag and artists like Prince. He dropped out of high school during his sophomore year but later earned his GED and continued to pursue music.
Duff moved to Los Angeles in 1983, where he joined the punk band Road Crew, which eventually led to his involvement in Guns N’ Roses in 1985.
The band’s first major album, Appetite for Destruction (1987), went on to become one of the best-selling debut albums in history, which launched McKagan into stardom.
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Success with Guns N’ Roses and Other Musical Projects
McKagan’s wealth largely stems from his time with Guns N’ Roses, with whom he recorded several highly successful albums, including Use Your Illusion I & II (1991) and The Spaghetti Incident? (1993).
After leaving the band in 1997, McKagan pursued several other musical projects, including his involvement with Velvet Revolver, a supergroup that produced successful albums like Contraband (2004) and Libertad (2007).
In addition to his work with other bands, McKagan also had a solo career and formed the band Loaded, releasing albums like Sick (2009) and The Taking (2011).
Despite leaving Guns N’ Roses in 1997, he rejoined the band in 2016, after they were inducted into the Rock and Roll Hall of Fame.
Business Savvy and Financial Investments
One of the key factors behind McKagan’s substantial wealth is his ability to manage finances and make smart investments.
In 1994, during a period of recovery from alcohol addiction, McKagan enrolled in finance courses to learn more about business and investments.
With this new knowledge, he became very involved in Guns N’ Roses’ financial management, helping the band make money not just from album sales but also from more profitable ventures like VIP packages and tour sponsorships.
Perhaps his most notable investment came in 1994 when he invested $100,000 in three Seattle-based companies: Starbucks, Amazon, and Microsoft.
While it is unclear how many shares he holds today, these early investments likely played a significant role in increasing his wealth over the years, especially as these companies skyrocketed in value.
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Writing and Other Ventures
In addition to his music and investments, McKagan has also ventured into writing and entrepreneurship.
He penned his autobiography, It’s So Easy: And Other Lies (2011), and followed it up with another book, How to Be a Man: (And Other Illusions) (2015). McKagan has written columns for prominent publications such as ESPN.com, Playboy.com, and SeattleWeekly.com.
Moreover, McKagan founded a wealth management firm, Meridian Rock, which helps musicians manage their finances.
His expertise in business and finance led him to be a thought leader in helping fellow musicians navigate the financial complexities of their careers.
Real Estate Investments
McKagan’s wealth has also been augmented by his real estate investments.
Over the years, he has owned several homes in Los Angeles, including properties in Studio City, Hollywood Hills, and Agoura Hills.
In 2003, he purchased a property in Sherman Oaks for $2.975 million, which he later put on the market for $3.85 million in 2017. McKagan also owns a mansion worth $4.7 million, located in Los Angeles, which features seven bedrooms and 8.25 bathrooms. Additionally, he bought a home in Seattle in 1993 for nearly $1.4 million.
Personal Life and Health
Duff McKagan’s personal life has seen its share of challenges and triumphs. He married Mandy Brixx in 1988, but the marriage ended in divorce in 1990.
He then married Linda Johnson in 1992, but that marriage also ended in divorce. McKagan has been married to Susan Holmes since 1999, and they have two daughters, Grace and Mae.
