Perry Farrell Rejected Rick Rubin’s $1 Million Offer Despite Needing Money

In a new interview with NME, Perry Farrell revealed that he turned down Rick Rubin’s million-dollar offer to buy Lollapalooza.

In a new video from Rolling Stone, Farrell and Lollapalooza co-founder Marc Geiger talked about the unsuccessful attempt to revive the festival in 2004. Farrell reflected on how Rubin offered to buy the Lollapalooza name after that:

“I didn’t know what I was going to do, and I was very embarrassed.”

The singer shared he needed money at the time:

“I was hurting for money. I don’t know why, but Rick Rubin decided to make an offer to me to buy the name for like a million dollars. I won’t tell you exactly how I put it, but I said no.”

In 2005, Farrell revamped Lollapalooza as a stationary festival in Chicago. ‘Lolla: The Story of Lollapalooza’ is a three-part documentary series directed by Michael John Warren. It premiered on Paramount+ in the US and Canada on May 21 and May 22  in the UK, Australia, Latin America, Brazil, France, Germany, Switzerland, and Austria. It explores how Farrell created the festival.

Farrell Sees Lollapalooza As A ‘Communal Party’

Previously, in a 2023 interview with Fast Company, the musician talked about what Lollapalooza is about:

“You have politics, you have business, you have computers. That’s not Lollapalooza. It’s the polar opposite of all that. It’s I don’t care who is calling me on my cell phone; I wish I didn’t have the damn thing. It’s I’m looking at people, I’m outside, I’m actually talking to people, not into a cell phone, I’m actually outdoors, not in an office, not in a building, not in school. I’m dressing cute, and I’m looking at what everybody is wearing. I’m looking around to see who is attractive and who is looking at me. It’s all ancient communal party.”

Farrell mentioned in the documentary’s trailer that when he started Lollapalooza, it was meant as a farewell for Jane’s Addiction. The documentary will include interviews with other musicians like Flea, Trent Reznor, Tom Morello, Lars Ulrich, Ice-T, Chance the Rapper, and others.