What Was Chuck Berry's Net Worth When He Died?
While no singular person created rock 'n' roll, very few people would argue against the idea that Chuck Berry could be the genre's father. His influence cannot be understated. Without Berry, rock 'n' roll would look different today. As Vulture says, the history of rock and its progenitors is "messy," but Berry had come to represent something larger than a genre: an idea. That idea became rock culture and its subsequent soundscapes.
Some of Berry's greatest hits include "Johnny B. Goode," "Maybellene," "Sweet Little Sixteen," "Thirty Days," "Roll Over Beethoven," and many more. Berry's influence is far-reaching, with many musicians citing him as a huge inspiration. As Britannica notes, Berry influenced musicians like the Rolling Stones, the Beatles, Buddy Holly, Elvis, and more. Tragically, however, Chuck Berry passed away on March 18, 2017, leaving behind both a significant legacy, and a large sum of wealth. It would make sense, then, that Berry was financially successful due to the popularity of his music, which leaves one question: What was Chuck Berry's net worth when he died?
How Chuck Berry rose to fame and fortune
Before diving into Chuck Berry's wealth, it might help to know how he came to be one of the most important musicians of all time. As Britannica notes, Berry got his early start playing small gigs at nightclubs. He had a very rough start early on in his life, having spent a few years in prison for armed robbery.
Berry eventually met up with Muddy Waters on his musical journey, who helped get him signed up with Chess label. It was at this recording company that Berry produced his first hit, "Maybelline," which became a chart-topper and cemented Berry as a musician with great potential. As Biography explains, Berry produced what many historians consider to be some of the earliest rock 'n' roll songs in history. Berry would go on to produce even more hits such as "Ramblin' Rose," and "Memphis, Tenessee."
Chuck Berry was substantially rich
As one might have guessed already, Chuck Berry's success left him with a substantial amount of wealth. The question of just how much wealth, however, is a complicated question, as various sources come up with multiple figures. In terms of raw figures, Berry's net worth might not actually be so straightforward. As reported by Net Worth Post, Berry could have left behind a net worth of $20 million. This would come from a mixture of Berry's properties, along with his 60 years as a musician.
However, this might not entirely be the full picture here. According to Billboard, Berry's assets could actually be around $17 million, but with a huge caveat: Berry's estate might be at an estimated $50 million. Much of Berry's wealth comes in the form of music assets, along with royalties from recording-artist agreements. And, even the $50 million estimate is reportedly a conservative one, so there is no one size fits all figure for Berry's actual wealth, it seems.
A good chunk of Chuck Berry's wealth was also in his real estate
Investing in real estate is a popular form of wealth accumulation. As Investopedia explains, money through real estate is primarily earned through what is called appreciation, which is (put simply) a monetary increase over time. In real estate terms, this is when someone sells a property for more than they initially bought it for. During Berry's life, the musician had made numerous real estate investments, which helped push his wealth beyond normal means.
As Billboard reports, Berry had invested a significant amount of money in the form of real estate properties. One such property was Berry Park, which was a huge 30-acre spot of land located in Wentzville, Missouri. As the Riverfront Times says, his luxurious mansion was where he mostly kept himself until his dying days. Another lavish home owned by the rock and roll king was located in Ladue, Missouri.
Chuck Berry's court cases and tax evasion reduced his wealth
When discussing any popular celebrity, it is important to keep their flaws in mind as well. The person behind the fame is just as important to talk about. And, Chuck Berry was no exception. While Berry himself was beloved across the world by many, he was still a flawed individual which gave rise to some sexual harassment charges. As The Guardian notes, Berry was once charged with spying on women in the bathroom at his restaurant. These charges were eventually settled in court, leading Berry to pay out a hefty fine to the victims.
In 1979 Berry pled guilty to evading income taxes for the year 1973, as stated by The New York Times. He had avided paying almost $110,000 in taxes and was ordered to pay the amount squarely, as well as serve four months in jail, according to Wealth Management.com. As one might know, tax evasion is a fairly serious crime, which can lead to some hefty penalties and imprisonment. This also had an effect on Berry's overall wealth in his time.
Chuck Berry was financially exploited but also business savvy
There are some dark realities about the music industry that aren't always so transparent. As The Tennessean says, record label companies have an unfortunate practice of exploiting the musicians that make everyone's favorite songs. Musicians often do not get paid properly for their music, and record companies also extract too many profits, leaving the artist very little. Even a juggernaut rockstar like Chuck Berry was no exception.
As Billboard explains, Berry himself was often taken advantage of by his companies. Berry was not aware of how songwriting royalties worked, meaning that he was often denied proper compensation. This early exploitation formed the base of Berry learning as much as he could about the music industry so that he'd never be taken advantage of again. Better knowledge of these inner workings helped Berry keep and accumulate significantly more wealth.