How Sammy Hagar Became A Hecto-Millionaire Businessman By Selling His Investments
Sammy Hagar can be considered as one of the most successful and influential metal vocalists of all time with his unique voice and remarkable performances. Hagar has been pursuing a very productive career as the founder and frontman of many different bands but he is also a very accomplished businessperson thanks to his successful enterprises which made him a multi-millionaire.
Hagar started his professional musical career when he joined Montrose in 1973 but he was fired from the band because of personal conflicts with the other members of the band. Later, he was recruited as the new frontman of Van Halen by Eddie Van Halen after the departure of David Lee Roth. After almost ten decades of playing together, Hagar was fired from the band due to creative differences. However, he continued his music career as a solo artist and formed new bands.
Sammy Hagar Net Worth $150 Million
Sammy Hagar is currently one of the richest metal musicians with a net worth of $150 million. He focused on his solo career after his unwilling departure from Van Halen and has released over a dozen of solo albums, the most recent one being ‘Lite Roast,’ in 2014. Also, he founded different supergroups and bands such as Sammy Hagar and The Waboritas, Chickenfoot, and Sammy Hagar and the Circle.
Apart from earning a great deal of fortune from his music projects, Hagar gained millions of dollars as a businessperson. He has a bike store, a nightclub named Cabo Wabo Cantina in Mexico along with another one in Nevada, as a part of the Cabo Wabo franchise. Furthermore, he has produced and released his own premium tequilas called Cabo Wabo Tequila which became his most successful business enterprise.
Sammy Hagar Gained $91 Million From His Cabo Wabo Tequila
In the beginning, Sammy Hagar created Cabo Wabo Tequila to serve it in his bar, Cabo Wabo Cantina, but in 1999 he decided to sell his Tequilas all around the world. His brand became one of the best-selling premium Tequilas in the United States, as he sold more than thousands of cases in 2007. In the same year, Hagar announced that he has sold 80% of Cabo Wabo Tequila to Gruppo Campari for $80 million.
In 2010, Sammy Hagar made another deal with Gruppo Campari and sold the remaining interests of Cabo Wabo Tequila for $11 million. Therefore, it can be said that Cabo Wabo Tequila has become Sammy Hagar’s most profitable and commercially successful business project, as it helped him become a multi-millionaire.