More than half a century after the start of his career, Bruce Springsteen is one of the greatest rock stars on the planet. But is he a billionaire? After Forbes review reported in July that the blue-collar hero had an estimated fortune of $1.1 billion, the New Jersey icon set the record straight this week in an interview with the British newspaper Telegraph (paywall).

“I’m not a billionaire. I wish I was, but they really got it wrong,” Springsteen, 75, told the newspaper without offering a more specific net worth. He noted, however, that this figure was even less likely because he had spent “too much money on unnecessary things”, again without describing specifically what those things were.

Springsteen, however, hinted at where some of that money was going last week when he spoke with Business Insider in London last week to promote the new Hulu documentary, Travel diary: Bruce Springsteen and the E Street Band. “I pay them a huge amount. It greases the wheels pretty well,” he said of his loyal E Street brethren, who include the group’s six longest-serving core members, plus eight additional live artists and a horn section. of four men. “Besides, I’m a pretty nice boss. The truth is that you need to train your group well.

In July, Forbes cited Springsteen selling his music catalog to Sony in 2021 for an estimated $500 million to $550 million as one of the main drivers of his wealth; it was the the biggest deal never for an individual work. Other sources of income that, according to the financial magazine, contributed to the Boss’s coffers: a 2023 tour that sold more than 1.6 million tickets and generated $380 million, following his 267 sold-out concerts 2017-2018/2021 season. Springsteen on Broadway show, as well as career sales of more than 140 million albums worldwide and his band’s current tour, which is scheduled to run through mid-2025.