It's been a rough year for the musician, but at least he has his millions of dollars to ease the pain. 72-year-old Timothy B. Schmit has taken the No. 1 spot on People With Money’s top 10 highest-paid musicians for 2020 with an estimated $96 million in combined earnings.
UPDATE 21/10/2020 : This story seems to be false. (read more)
Timothy B. Schmit tops annual list of highest-paid musicians
In 2018 it looked like the musician’s spectacular career was winding down. Suddenly, he was back on top. People With Money reports on Tuesday (October 20) that Schmit is the highest-paid musician in the world, pulling in an astonishing $96 million between September 2019 and September 2020, a nearly $60 million lead over his closest competition.
People With Money’s factors
In compiling this yearly list, the magazine considers factors such as upfront pay, profit participation, residuals, endorsements and advertising work.
The American musician has an estimated net worth of $275 million. He owes his fortune to smart stock investments, substantial property holdings, lucrative endorsement deals with CoverGirl cosmetics. He also owns several restaurants (the “Fat Schmit Burger” chain) in Washington, a Football Team (the “Oakland Angels”), has launched his own brand of Vodka (Pure Wonderschmit - US), and is tackling the juniors market with a top-selling perfume (With Love from Timothy B.) and a fashion line called “Timothy B. Schmit Seduction”.
The ranking is significant for many Timothy B. fans, who have been waiting for his triumphant return to the glory days for what seems like a lifetime.
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