Fame & Fortune: Rocker Eddie Money
Drugs and windmills in past, he's a happy 'working slob'
Bankrate: At this point, are hits like "Two Tickets to Paradise" big royalties earners for you?
Eddie Money: They were, but I sold my publishing to buy a house for my wife that she threw me out of. So now I only get the writer's share, which is still a nice piece, but selling my publishing was a big mistake.
Bankrate: When did you
Eddie Money: About five
years ago. I held onto it for years.
How much did you get for it?
$2 million. Which is gone.
What did you spend it on?
Bankrate: How much
would that have been worth if you'd held it?
Money: I just got a check for $25,000 this month from the publishing company.
That would have been about $50,000. I'd probably be making another $100,000 a
Bankrate: "Two Tickets
to Paradise" was included on the soundtrack to "Grand Theft Auto: San
Andreas," which was a hit video game. Was that profitable for you at all?
Money: No, it wasn't.
Because you sold the publishing?
Money: You have to have more than 12 seconds of a song in order to get
paid, and they were smart enough to do the whole thing in 11 seconds.
So they took your song and didn't pay you for it?
So at this point in your life, with a wife and five teenaged kids, how do you
handle your investments?
I have a lot of money in real estate. I gained a couple of million on my house,
we have four acres in Los Angeles, and then I own another house in Florida that's
also gone up about $1 million. Outside of that, I used to own money in Merck and
all this other stuff, but right now my wife spends more money than I can make.
I should have married a blind woman. Let's put it this way -- I got my health,
I got my sobriety and I'm off the cigarettes. Right now, even if I'm in the hole
for $200,000, I been in the hole before. I'll bust out of this and break even
by the end of the year.
You're in the hole for $200,000?
Money: I borrowed $100,000 to make the record, and $100,000 ... my wife,
she put me in the hole. I got kids in Christian high schools, that's, like, $1,800
a month per kid. Then I got one kid in the Graystone Academy. He was a drummer
and he's into chicks, so he spent the whole time in the principal's office the
last two years. So now I have him one-on-one with a teacher, and that costs me
$2,400 a month. It just costs a lot of money. Then you got the guys cutting the
lawn, the pool breaks down, my wife drives a BMW, she wrecked her other BMW and
we gave it to my son. It's a misery. You don't want to get into it. I'm just a
working slob like everyone else.
For a guy who lost a couple million recovering from a drug overdose, though, you
sound like you're doing pretty well.
Money: I'm doing OK. He's a just God, but a loving God. If you don't get
up and smoke a million cigarettes and do cocaine and take a bunch of pills and
knock down a couple of Bloody Mary's before breakfast, you'll have a good day.