Mick Jagger has hinted at the possibility of donating the band’s post-1971 music catalogue, potentially worth $500 million, to charity. The iconic rock star, known for his electrifying performances and business acumen, made these remarks during a recent interview with The Wall Street Journal.
Jagger, now in his late 70s, expressed a desire to use his vast fortune to “do some good in the world” rather than simply passing it on to his children. The singer, who has amassed considerable wealth over his decades-long career, stated emphatically that his “children don’t need $500 million to live well.”
The Rolling Stones, formed in London in 1962, have been a dominant force in rock music for over six decades. Their post-1971 catalogue includes numerous hit songs and albums that have shaped the landscape of popular music. The potential donation of such a valuable asset to charity could have far-reaching implications for both the music industry and philanthropic causes.
Jagger’s statement comes at a time when many high-profile musicians have been selling their catalogues for astronomical sums. Recent examples include Bruce Springsteen, who sold his catalogue for $550 million, and Paul Simon, who parted with his for $250 million. However, Jagger’s approach stands in stark contrast to this trend, prioritising social good over personal gain.
The singer’s philanthropic inclinations are not entirely surprising, given his history of supporting various charitable causes. However, the scale of this potential donation is unprecedented in the music world.
Jagger, father to eight children ranging in age from seven to 53, believes that his offspring could still benefit from his legacy without directly inheriting his fortune. He mused about the possibilities of posthumous business ventures, including potential tours, suggesting that his children could still capitalise on the Rolling Stones brand after his passing.
The frontman’s comments also touched upon the band’s early financial struggles, particularly their experiences with former manager Allen Klein. Klein’s company, ABKCO Music & Records, still owns the rights to the Stones’ pre-1971 catalogue, including iconic hits like “Satisfaction” and “Paint It Black.” Jagger expressed regret over the lack of industry support and proper advice available to young musicians in those early days.
While no concrete plans have been announced regarding the donation of the catalogue, Jagger’s statements have ignited discussions about wealth, inheritance and social responsibility among the ultra-rich. His approach aligns with a growing trend among celebrities, including actors Daniel Craig and Ashton Kutcher, who have publicly stated their intentions to limit their children’s inheritances in favour of charitable giving.
•Featured Image: Mick Jagger/Ethan Miller/Getty Images
