Bruce Springsteen reveals why he spends tremendous amount of money, denies reports of billionaire status

LOS ANGELES, CALIFORNIA: Bruce Springsteen has addressed recent speculation about his net worth, claiming that reports of his wealth have been exaggerated.

The 75-year-old rock icon clarified that he is not a billionaire, despite reports from Forbes in July 2023, which estimated his net worth to exceed $1.1 billion.

Bruce Springsteen's music catalog selling and touring

Bruce Springsteen, who did not provide an accurate alternative figure of his networth, said, “I'm not a billionaire. I wish I was, but they got that real wrong."

In 2021, his net worth was propelled into the spotlight when he sold his entire music catalog to Sony for an estimated $500 million.

Springsteen expressed satisfaction with the deal stating that he was "thrilled" his legacy would be preserved by a company he trusted.

In addition to his catalog sales, Springsteen’s recent tour with the E Street Band brought in $379.5 million from nearly 3.5 million tickets sold across 66 shows in 2023, according to Pollstar.

However, the songwriter revealed that his spending habits, along with significant payments to his band, have impacted his financial standing.

“I've spent too much money on superfluous things,” he admitted, noting that his current net worth may not align with Forbes’ estimation.

Bruce Springsteen's commitment to his band and craft

In his interview with The Telegraph, Bruce Springsteen emphasized his philosophy of fairly compensating those who perform alongside him.

“I pay a tremendous amount of money to my band,” he said, adding, "If you get the art right, the music right, and the band right, you go out and play every night like it's your last night on Earth."

Springsteen’s dedication to live performance and to his band is a central theme in his new documentary, 'Road Diary: Bruce Springsteen and the E Street Band', now streaming on Hulu and Disney+.

The film follows the legendary musician and his band as they prepare for their first tour in seven years.

Bruce Springsteen dismisses rumors on his retirement

Speaking about retirement, Bruce Springsteen shared, “I plan on continuing until the wheels come off, and for as long as the band will follow me,” according to People.

At a recent concert in Philadelphia in September, he said, “We ain’t quitting! We’ve been around for 50 f****n’ years, and we ain’t quitting!"

"We ain’t doing no farewell tour bullshit! Jesus Christ! No farewell tour for the E Street Band!” he added.

Dismissing the idea of a farewell tour, the legendary rocker said, “Farewell to what? A thousand people screaming your name? Get the hell out. I ain’t going anywhere!”according to CNN.