Fox News contributor Joe Concha and FOX Business’ ‘Making Money’ host Charles Payne react to the hype – and price – of the Coachella Valley Music and Arts Festival.
Iconic musician Brian Wilson died at 82 years old on Wednesday, leaving behind an extraordinary legacy as one of the last surviving members of The Beach Boys,
Three brothers, Brian, Dennis and Carl Wilson, formed the band in Hawthorne, California, in 1961 along with their cousin, Mike Love, and friend Al Jardine. The band eventually added other members, including Bruce Johnston and David Marks.
Information is not pubically available on Wilson’s or the band’s net worth during the peak of their fame. However, the band was lauded by Forbes as one of the highest paid entertainers in 2022.
BEACH BOYS FOUNDER BRIAN WILSON DEAD AT 82
In 1962, Brian, Dennis, and Carl Wilson’s father and former manager, Murry Wilson, sold the band’s publishing company to A&M Records for only $700,000, according to Rolling Stone magazine. The company, Sea of Tunes, had owned the rights to dozens of the band’s hits, including “Surfin’ Safari” and “Good Vibrations.”
Wilson ultimately filed a lawsuit against his father and A&M, claiming Murry did not have Brian’s consent or approval and didn’t receive any of the proceeds. He asked for $100 million, though the case was settled out of court, and Brian reportedly received $25 million in damages. Wilson later sold the publishing rights to his catalog to Universal Music Group for $50 million.
Mike Love of the Beach Boys performs at Fox &Friends All-American Summer Concert Series Fox on May 31, 2024 in New York City. (John Lamparski/Getty Images) / Getty Images)
In 2021, the surviving members of the band sold a controlling interest in the band’s intellectual property, that included master recordings, a portion of their publishing, the Beach Boys brand, and memorabilia, to Iconic Artist Group (IAG) for $64 million. IAG was a brand development and marketing company run by Irving Azoff, who was considered a music industry magnate.
BEACH BOYS’ BRIAN WILSON PLACED IN CONSERVATORSHIP FOLLOWING DEMENTIA DIAGNOSIS
The Beach Boys members, along with their heirs, retained an interest in the group’s assets to benefit from the ongoing marketing and promotion of the band.
Mike Love of the Beach Boys performs at t Fox & Friends All-American Summer Concert Series Fox on May 31, 2024 in New York City. (John Lamparski/Getty Images) / Getty Images)
While no exact figure is publicly available regarding their net worth, The Beach Boys have sold over 100 million records worldwide. Since the 1960s, the band has charted more than 80 songs globally, with 36 reaching the U.S. Top 40—four of which topped the Billboard Hot 100, according to the band’s official website.
Pet Sounds, the eleventh studio album by the American rock band in 1966, ranked No. 2 on Rolling Stone’s list of the “500 Greatest Albums of All Time.” The band itself was ranked No. 12 on Rolling Stone’s list of the “100 Greatest Artists of All Time.” In 1988, the band was inducted into the Rock & Roll Hall of Fame. They were also recipients of The Recording Academy’s Lifetime Achievement GRAMMY Award, according to its website.
American pop group The Beach Boys in 1964. From left to right, Dennis Wilson, Brian Wilson, Mike Love, Al Jardine and Carl Wilson. (Hulton Archive/Getty Images) / Getty Images)
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However, the road to fame wasn’t easy. For one, Love admitted in 2016 that the songs Murry Wilson sold in the 60s could have been worth at least $100 million by that time. Love claimed that the bad deal had created a “ripple effect” for the rest of the band’s career, according to Rolling Stone. Each member had their own managers, who in many cases went head-to-head in court.
For instance, in the late 80s, Brian Wilson sued A&M to reclaim the copyrights. He asked for $100 million, though the case was settled out of court, according to the outlet. A few years later, Love sued Brian Wilson over co-writing credit on dozens of songs.
