Mick Jagger has hinted that his share of the Rolling Stones’ back catalogue will be given to charity instead of his children.
Rocker Mick, 80, said his eight children ‘don’t need $500million (£400m) to live on’, so he has seemingly come up with another way to donate his fortune.
In an interview with The Wall Street Journal, he said leaving the money to charity might ‘do some good in the world’.
The Stones were forced to learn how to handle themselves financially after facing serious problems with ownership rights.
They still don’t own the rights to their catalogue before 1971 – which includes many of their biggest singles such as Satisfaction, Paint it Black and Jumpin Jack Flash.
Big ideas! Mick Jagger has hinted that his share of the Rolling Stones’ back catalogue will be given to charity instead of his children
Family: Rocker Mick, 80, said his eight children ‘don’t need $500million (£400m) to live on’, so he has seemingly come up with another way to donate his fortune (pictured Karis Jagger , Jade Jagger , Mick Jagger Georgia May Jagger and Lizzy Jagger)
The band hired accountant Allen Klein to stabilise their finances in the 1960s. Klein had worked with The Beatles and the Kinks and negotiated a lucrative deal for the Stones with Decca but when the partnership ended managed to retain ownership of their catalogue for the years in which he managed them – from 1965 to 1970.
The Stones received millions of pounds in royalties – but not as much as if they’d owned the music outright.
Other music stars have sold the rights to their work in recent years, including Bruce Springsteen, Paul Simon and Sting. No decisions have been taken on the Stones’ catalogue.
If Sir Mick’s daughter Georgia May, 31, a successful model, was troubled by her dad’s comments, she wasn’t letting on as she partied at Paris Fashion Week with mum Jerry Hall.
The pair wore black velvet outfits to the Yves Saint Laurent show on Tuesday.
While Mick may be concerned about what will happen to his money once he’s gone, he said recently that their music may live on much longer
This week he discussed the possibility of The Rolling Stones outlasting his lifetime with the rise of AI technology in the music industry.
Abba have seen huge success with their Abba Voyage virtual concert residency, which sees ‘Abba-tars’ depict the singers as they appeared in their 70s heyday.
Hackey Diamonds: The Rolling Stones – made up of Mick, Keith Richards and Ronnie Wood – are releasing their first album of new material in 18 years , and their first since Charlie Watts’ death
The frontman discussed the possibility of a ‘post-humous tour’ with AI avatars depicting himself and his fellow bandmates on stage.
Referencing Abba’s success, he told WSJ. Magazine: ‘You can have a posthumous business now, can’t you? You can have a posthumous tour.
‘The technology has really moved on since the ABBA thing, which I was supposed to go to, but I missed it.’
The Rolling Stones – made up of Mick, Keith Richards and Ronnie Wood – are releasing their first album of new material in 18 years, and their first since Charlie Watts’ death.
Drummer Charlie sadly passed away in August 2021 aged 80, following complications from emergency heart surgery.
There are two tracks on the new album which were recorded in 2019, meaning the late drummer will still feature on the project in a sweet tribute to the music icon.
