Steven Tyler’s Insane Net Worth Despite Wasting $20 Million
Aerosmith frontman Steven Tyler has established a solid place for himself in rock and roll history with his wide vocal range and high-energy stage performances. Although he enjoyed the commercial success of hard rock albums like ‘Toys in the Attic’ and ‘Rocks,’ during the mid-1970s, the singer’s musical journey didn’t go that well in the following period. His addiction to alcohol and drugs took a heavy toll on his personal life and career.
Fortunately, Tyler’s numerous rehab attempts finally yielded results towards the late 1980s, leading to his epic comeback with Aerosmith. The singer consolidated his image as a worldwide rock icon with multiplatinum albums like ‘Pump,’ and ‘Get a Grip.’ It can be assumed that Tyler’s turbulent lifestyle, full of ups and downs, might have caused him to get into terrible financial trouble, but that wasn’t exactly the case.
How Much Is Steven Tyler’s Net Worth?
The lead singer of Aerosmith, Steven Tyler, has an estimated net worth of $150 million, making him the wealthiest member of the band. After breaking into the mainstream during the mid-1970s, the band toured relentlessly and headlined stadiums and major music festivals until drug and alcohol-related issues got in their way. However, they managed to produce hit records again with their comeback in the late 1980s, bringing them a lot of income.
Aside from enjoying a lengthy music career with Aerosmith, the frontman also released one solo record and collaborated with many prominent names. The singer has also appeared in several films and TV series over the years. In addition, he was a judge on American Idol for two seasons. In 2007, Steven Tyler, a long-time motorcycle fan, also launched the company Dirico Motorcycles.
While making a fortune as the frontman of one of the best-selling acts of all time doesn’t seem surprising, it is still somehow striking that Tyler managed to keep his finances in order despite the large amount he spent on drugs. Even though the rocker made several attempts to seek help during the mid-1980s, he understood the seriousness of the issue in 1988 when his bandmates gave him an ultimatum to go to rehab or leave the band.
Then, he enrolled himself in eight stints of rehab and started a long journey to stay sober. It would be absurd to expect his drug addiction not to affect his financial situation. In his 2011 memoir ‘Does the Noise in My Head Bother You?’ Steven Tyler revealed that he had lost $20 million on drugs. He had spent so much money on cocaine and heroin that it had almost left him broke. Some of his savings, like his house, plane, and luxury car all went to drugs.
Tyler’s statements on how he spent a $20 million fortune on drugs:
“I blew $20 million. I snorted my Porsche, I snorted my plane, I snorted my house in that din of drugs and booze and being lost.”
However, it seems clear that Steven’s excessive spending on drugs didn’t impact his net worth as much as we expected. The Aerosmith singer is still wealthy despite his long-term struggle with his addiction, and Tyler continues performing with his band, adding more to his fortune.