With all the latest lawsuits and bills... I dunno

Or will he quietly cough up the bux he owes?

no....he has the $ ,

luv4u said:

Surely he has the money. Remember, he's not been paying people for a very long time... It's just what he does. It just so happens that this time, the one's he ripped off have the finances to take him to court and win.

I'm sure he made enough from 21 nights and Musicology so that, if he had just put it in the bank, he'd have made 2.5 million in interest by now.

Unless, there's other things still to come out that we don't know about. Maybe he donated it all to the JW's...
[Edited 3/26/10 6:39am]

No, I think he has several options to raise the money. Hell, he could go back to London for another 21 Nights.

But the concept of Prince blowing all the money he's made since 2004 is just mind boggling. My seat-of-the-pants estimate is:

1. Musicology tour/album - It grossed $87.4 million. Assuming Prince netted 1/3 of that, let's say he grossed $30 million.
2. 3121 - It sold, what? About 500,000 copies? Prince should have received $5 per, so there's $2.5 million
3. Club 3121 and related concerts - Hard to believe he got less than $1 million for all the 3121-related shows he did in Las Vegas and LA.
4. Planet Earth - He sold about 300,000 copies in the US and did the newspaper deal in London. Using $5 per CD, that's $1.5 million in the US. What he got in England is unknown, but let's go low and say $500K.
5. 21 Nights tour/book - If he netted $30 million from 96 Musicology dates, that's $312,000 per show. But I bet Prince did better in London, and if probably got closer to $500K per show. So let's plug in $10 million for 21 Nights (including what he got for the book)
6. Private shows - He's done a handful, at no less than $1 million per. He certainly nets more for those than he does for an arena tour, so let's say 5 shows at $750K per, or $3.75 million
7. The Superbowl - He didn't play that for free. $500K would be a steal.
8. Lotu$flower - Based on website traffic, I think he grossed $400K from it, so let's say he netted half of that, or $200K
9. Residuals - I have no idea, but I'm going to plug in $100K per year or $600K since 2004
10. The Opus - You know HE got paid. Let's say $250K.

Unofficial total, before taxes - $50,800,000
Unofficial, after taxes (34% rate) - $33,528,000

Dude blew $33 million in six years? You know, I actually can see that. If you fly around on G-V's, it's not hard to go through $465,666 per month.

No, he will not.

I'm not sure some of you guys understand just how much money he makes.

if P has blown his $ then he does not deserve to be succesful - surely he would have learned form his mistakes in the past. Right, help me out here from 2004 he's had:

Musicology - Big advance on the CD + one of the largest grossing tours in US history - wasn't he making c£500k per night?.

3121 - Not too sure on the figures but I assume the Vegas gigs paid very well.

Planet Earth / 02 Gigs - again big advances from the record company + of course the c£11m from ticket sales alone [sorry if that figure is way out]

LF- Again advances from Target, LF website $, etc.

Add to this lot several private / corporate gigs.

So, over say the last 6 years he has earned a fortune, please God don't tell me he's wasted it on stuff like hiring the 3121 mansion, big parties, BIG JW donations etc.

RodeoSchro said:

Prince was paid a reported 4.8 million to play Coachella

Militant said:

Then explain it better than I did.

And do you know how much it costs to operate a Gulfstream V jet (which Prince alluded to flying around on "Mr. Goodnight")?

ARock said:

Thanks, I forgot that one. Probably others, too.

I doubt he'll file bankruptcy. And I doubt the financial issues he's having now are equal to or greater than his past financial issues in the late '80s and then the mid 90s. That's just my guess, though. Time will tell.

Militant said:

Any ideas?, I guess you're taking about additional royalties etc.

He'll be fine.As others have mentioned,he has many options.He could go on tour and make millions in a short period of time.

RodeoSchro said:

plus it was quoted in many articles at the time that he got close to $5m for doing the Coachella festival and plus whatever his Warner bros back catalogue still sells... - he's ok for money

SoulAlive said:

this may sound radicle and please don't laugh at me but how about.....a.... Greatest hits for the last time tour'!!!!!. It may just work.

Why much does he have to pay Mayte and his other wife? I know Mayte got a really expensive house in Spain they were still financing, right?

I'm sure his cash-in is good...he's got to be making a good deal of money, but I wonder what his cash-out is like.

Like Michael Jackson,Prince has never been very good at managing his money.I'm sure he has accountants,but I bet he doesn't listen to any of their advice

TheVoid said:

His other ex-wife does have a name ..... Manuela

SoulAlive said:

Of course he'll be fine. No doubt about that. People are just curious as to what he's doing with all those 10s of millions of $$$ as to why he (seemingly) can't pay his taxes and other debts. I'm assuming most people are interested because it offers a glimps into his personal life(style) as well as some intricate details into how the music business works.

And then others are interested because it's Prince involved in some negative press.

If Prince doesn't have money to cover his debts and then some, then he need to stop playing suga-daddy to these youngsters he keep collecting (and marrying). Don't he have an accountant or two to help keep his finances in order. Nevermind, Prince has probably told them the same thing he told his ex-wife #1..don't call me, wait til I call you.
He's been strutting around, acting untouchable for way too long now. So, guess what Prince. Tag!!!!!

skywalker said:

I always thought Prince did watch the bills. Very closely, too. He's been through too much not to. Plus, things he's done and said in interviews are things that smart money people say and do.

I hope you're right, but solely from what I get from press reports, things are now starting to not add up. Not paying taxes? ON PAISLEY PARK?!? No WAY I can see Prince letting that happen on his watch.

And the Croke Park deal - it says Prince settled, then didn't pay. Now, I HAVE been around the courtroom and settlements a lot. And I know that all settlements have dates certain by which the settlements are paid.

To make a settlement and then not make the payment usually means one of two things: (1) the settling party is a crook, and/or (2) the settling party can't pay the settled amount.

Not good.


.
[Edited 3/26/10 7:14am]

RodeoSchro said:

Can't be more clearer then that.

Militant said:

I know!

2 Million dollars. After we hear countless stories of him earning 50 millions. Logic.

People thrive off of sensationalism, hence reality TV so, believing a "boring" reality which makes sense, isn't entertaining.

Shocking.

ARock said:

plus he was widely reported to have gotten the biggest paycheck
any artist ever got for headlining Montreux.

People seem to forget he flirted with bankruptcy twice before.

He does earn loads, but he spends it all on videos that never get released, studio time around the world instead of using the one he built, cooks, drivers, planes...and most of all lawyers.

He is Little Richard personified.

SquirrelMeat said:

He had some problems around 'The Gold Experience' era, but things are quite different for him now. He's not wrangling with Warners, his concerts are selling-out etc, etc.

I cannot comprehend him not touring earlier or releasing something significant if financial woes were forthcoming.

I doubt he makes many videos anymore (there is no Carmen Electra in Egypt any longer ), yes a cook and some drivers, but that doesn't exactly 'break the bank' for someone like Prince does it?

It is not as if he's some glorified rapper dripping in diamonds, platinum jewels and partying every night. Buying Cristal by the crate. Driving the latest sports-cars and using private jets 5 times per week.

I think he just works with incompetent people and has a very disorganized approach. Does he even have a business manager? A full-time, decent consultant?

SquirrelMeat said:

Isn't Little Richard, Little Richard personified?

Prince does not need 2 raise any money. Prince needs 2 stop surrounding himself with yes men and hire some damn competent people 2 take care of his business. Either that, or do it himself. I have a feeling that doing it himself, lead him 2 the nonsense that he is dealing with now.

skywalker said:

actually he did, didn't he? hmmm. I'll have to do some digging through my favorites folder when I get home.