David Gilmour’s Confession About Pink Floyd’s ‘Almost’ Bankruptcy

While rockers might enjoy significant commercial sales from hit records and revenue from excessive touring at sold-out shows, all of their wealth might disappear in the blink of an eye. So, even when Genesis enjoyed significant publicity and commerciality in the late ’70s, the band almost went bankrupt due to their road manager’s careless spending and poor handling of their financials.

However, the only band that almost went broke in the late ’70s wasn’t Genesis, as Pink Floyd also went through similar experiences. You see, the cult band also didn’t have the best financial control at one point in their career, and these financial problems had nothing to do with poor record sales or excessive touring since they were a bit of the band members’ mistake.

So, it might surprise you when we let you know that Pink Floyd was almost penniless while producing 79’s ‘The Wall,’ as the band had significant commerciality and sales only a few years prior with hits like 73’s ‘The Dark Side of the Moon’ and 75’s ‘Wish You Were Here.’ However, David Gilmour blamed the band’s poor decisions for this financial recession.

Rockers often hire financial advisors to get a hold of their spending and sales, but it might be totally of luck if these advisors are actually capable of doing their jobs. So, when Pink Floyd hired a team of advisors, the band probably thought these experts would have everything under control. However, the rockers were wrong.

So, even though they had commercial success and all-time significant sales, the band was on the verge of bankruptcy when they were about to produce what would become the ever iconic, ‘The Wall.’ David Gilmour faulted themselves for this financially poor era as he discussed the period during an interview with Weekend Knack magazine’s Peter Van Dyck in 2000.

It was our own fault. Pure stupidity. We let others take care of our money,” Gilmour said. “We thought we handled our money with care. We had everything under control, didn’t we? The financial experts we appointed made a mess of our administration, and the British tax wanted us to be caught. If we didn’t take action right on time, we would have been bankrupt. But everyone makes mistakes.”

When the financial problems were apparent, the band had no choice but to hope that their next project would bring some help to fix things financially. So, when Roger Waters came down with ‘The Wall,’ the bassist definitely made up for his and the remaining members’ mistakes, as the record would become one of the most cult works of rock music.