i know it sounds like a stupid question now but i read in a newspaper article, about 10-12 years ago now that prince was going broke. it even said he had 2 sack 12 of his 15 dress makers or tailors.

As I understand the term "Broke", Prince hasn't been broke since Purple Rain.

tafnap said:

Prince was so broke he could only afford to employ three private tailors??

Rumor had it around the album, that the NPG was bankrupting, but Prince denied it and I believe him.

no i disagree with because of these reasons

well it depends on the concept of broke. i think at one point his coroperations like Pasiley Park or NPG went under at one point in time, but since coroperations are seperate unities from the people that run them P's personal finances weren't touched.

Yeah, 1970 something!

There have been allegations of Paisley Park not paying its debts timely. However, if any of Prince's corporations went bankrupt, we'd probably know about it, because bankruptcy filings are matters of public record, and I'm sure the media would report them. I have never heard of any Prince-related entity filing for bankruptcy protection.

What the rich and famous call broke and what the rest of us call broke is usually two hugely different things.

mozart died a pauper

tafnap said:

Prince has never gone broke,but there were two times in his career when he was rumored to be having financial difficulties.The first time was in 1988 and the second time was in 1994.

JugHead said:

Actually,Prince was doing fine around the time of the 'Love Symbol' album.Remember,he had just signed that huge $100 million record contract with Warners

His financial problems happened around 1994,but Prince denied that anything was wrong."I have enough money to make it",he said."Don't believe everything you read in the newspapers.If you want to know something,ask me".


[Edited 3/23/06 1:14am]

According to some rumors, yes.
Around the hip area.

Broke is a relative term.

Probably early 70's when he got the boot out his parents home and move in with Andre Cymone!

"Prince" has been broke.... but Prince R. Nelson has not been broke.

remember he keeps his money seprate from NPG/Pasily Park money... so if one goes under his money can not be touched.

"I don't care about $. I buy gold by the ounce. I write a check and the bank bounced!"

well "broke" is what i would call it when u owe people $ and u dont have enough 2 pay them

tafnap said:

but are you talking phyical liquid funds? wouldn't that include assetts? What I think of when I say broke is:

Needing gas for the car, but no money and nothing to sell to get the gas.

Needing a car with no way of getting one.

Wanting a pack of cigarettes and looking for a trinket and a sucker to buy it so that you can have the five bucks for a pack of smokes.

Itching for payday so that you might pay off your debts.

DavidEye said:

I do remember around '88 they said Paisley Park was losing $1000's by the week but the Batman project helped him out. I also remember after the Diamonds and Pearls album he made $49 million, and than at the '95 AMA he said "for all ya sweating the NPG financial bank roll, like to ask you all to chill its all good - Peace and B Wild." They did say he blew a lot of money on The Carman Electra project and a few others. He couldn't afford to keep PP open...If you think about his contract he didn't receive 100 mill. he only received $10 million if his previous album sold at least 5 million...Symbol, Gold, Come and what ever else probably didn't sell 5 Million all together so I know not much was coming in. They did say he makes about $5 million per from royalties. I'm not there but just sharing what I have heard.

Prime
I'm sure the brotha is doing all right...

tafnap said:

why do you think he started wearing suits and regular clothes instead of spending thousands of dollars on custom made clothing. besides you saw his album sales plummitting from 1995 listen to the albums besides prince left warner bros. and his contract stated that they had his publishing rights which means without them it would have been hard for prince to get his music to his fans w/o spending alot of money. owning your website can be very pricey trust me I know. And I also read that prince ran away from his home for a few years so in his early years i.e. age 9-22 yes he was broke. I read articles about him saying that before 1999 prince could perform well on stage. And being an artist my self most of the money in the music buiness comes from stage performances and concerts.

meow85 said:

yes look at micheal jackson they say he only has 10 million dollars left
to us that is enough to live for you your kids and grand kids!

Purplerain7772001 said:

That's more money than most people will ever see in a lifetime.

any zipper malfunctions?