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Why the Rolling Stones won’t sell their ‘$500 million’ music catalog

You can’t always get what you want, especially when it’s a large inheritance.

in a Interviewed by The Wall Street Journal This week, Mick Jagger said the Rolling Stones have no plans to sell their robust music catalog, even though artists like Justin Bieber and Katy Perry have recently done the same general tone $200 million each.

The reason, Jagger said, was simple: He didn’t need the money, and neither did his eight children.

“Kids don’t need $500 million to live a good life. Come on,” he told the Wall Street Journal, admitted that if he did sell, he might donate his share of the proceeds to charity. “You might do some good in the world.”

The 80-year-old rock star’s offspring range in age from 52 to 6 years old.

Jagger’s practice of leaving large sums of money to his children is similar to other wealthy celebrities.

In 2021, “James Bond” actor Daniel Craig said he did not plan to leave a fortune to his children when he died, calling the approach “disgusting.”

“Isn’t there an old adage that if you die rich, you failed?” Craig said at the time. “I think Andrew Carnegie gave away about $11 billion of his money, which shows how wealthy he was, because I bet he kept some of that as well.”

Likewise, billionaire investor Warren Buffett has long been convinced that his “incomprehensible” net worth is better spent on philanthropy than on his children’s investment portfolio.

“After extensive observation of ultra-wealthy families, my advice is this: Leave enough to your children so that they can do anything, but not enough to do nothing,” he said in the 2021 report. Notice to shareholdersAdding that his own adult children “pursue philanthropic endeavors that involve money and time.”

In the interview, the “Sympathy for the Devil” singer noted that the unorthodox moves he and the Rolling Stones made early in their careers, such as embracing merchandise, branding and sponsorships, were smart business decisions in the long run.

“One of the things I’m really proud of about the Rolling Stones is that we pioneered the arena tour with our own stage, our own sound and everything, and we did the same thing in stadiums,” Jagger said. “I mean, no one visits the stadium.”

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