Most of us know Jimmy Buffett as a successful singer and songwriter based in America. His songs such as Cheeseburger in Paradise and Margaritaville take us on a dreamy journey of the holiday that we all have planned but never seem to have the time to go on.
It is this relaxed holiday fantasy in his music that shot him to success and now he is considered one of the most successful entertainers of all time. To the Parrotheads, the term used to refer to his most devoted fans, he might be the best musician out there.
But only a few people have the entrepreneurial skills that know how to make the most out of an idea financially. Jimmy Buffett is one of those people and has successfully turned his financial assets close to a whopping 600 million dollars.
He is regarded as one of the richest entertainers in the world. Along with using his musical talents, he has also ventured into several other fields with financial interests in mind. So, how exactly has he managed to attain such a feat?
Let us learn more about him and his efforts which are an inspiration to businessmen all around the world.
Jimmy Buffett was born on the 25th of December 1946. He spent a part of his childhood in Mobile, Alabama, and spent some time in Fairhope, Alabama. He used to play the trombone in his school band and would go on sailing with his grandfather, which would impact his music later in life.
After graduating from college in history in 1969, he would start his career as a correspondent to the Billboard magazine in Nashville. He married Margie Washichek in 1969 and they divorced in 1971. He married his second wife, Jane Slagsvol, in 1977. They separated in the late 1980s but got back together in 1991. He jas two daughters with his second wife and an adopted son.
Jimmy Buffett Musical Career
Jimmy Buffett started his career as a country artist in Nashville with his first album coming out in 1970 called Down To Earth. He also used to perform in the streets for the tourists which would help him with some money and gain his music attention.
He then moved to Key West, an island in Florida where he discovered his chill beach-going persona which would be reflected in his upcoming music. It is this style that he is widely known for and his music revolves around this general mood.
He started playing in bars and pubs and created his style of music which is now known as tropical rock. It is a mixture of country, folk, rock, calypso, and pop and also goes by the name of Gulf and Western. He signed to ABC/Dunhill Records in 1973.
He released a series of albums in the 1970s but the most popular ones came from his concerts in the 1980s. He earned more from these concerts in the decade than from all the albums combined in the previous decade. He became famous for the public he could draw at his concerts and made a name for himself.
He also kept releasing fresh music in the form of albums primarily targeted at his devoted audience. In 1994, he collaborated with Frank Sinatra for a song from his album called Duels II, which was Sinatra’s final studio album. He also got the chance to play for the then-president Bill Clinton in 2000.
The first time Jimmy Buffett topped the sales charts in the US was with his album License to Chill, released in 2004, which sold over 238,000 copies in the first week.
Business Ventures other than Music
Writing has been a successful venture for Jimmy Buffett both in reception and financial performance. He is the author of three best-selling books, including one non-fiction memoir. His couple of books of fiction writing, Tales from Margaritaville and Joe the Merchant, remained on top of the New York Times bestseller lists for seven months.
His third book, the memoir A Pirate looks at Fifty, also reached the top of the charts at the New York Times. This makes him one of the few writers with books on top of both fictional and non-fiction sections. He has also co-written two children’s books with his daughter. His latest title named Swine Not? released in 2008.
Jimmy Buffett has used his fame and music in business ventures successfully and expanded his financial horizons. In 1985, he opened the Margaritaville Cafe in Key West, Florida. The cafe is named after his hit song, and everything else is also usually related to a tropical theme.
He owns LandShark Bar and Grill in Baltimore and used to own a restaurant called Cheeseburger in Paradise. He also owns two minor league basketball teams known as Madison Wolf and Fort Myers Miracle. He has a range of merchandise named after Margaritaville including, footwear, tequila, chips, shrimp, salsa, guacamole, and a lot of others.
In 1993, he launched Margaritaville Records and has been producing music in partnership with other labels ever since. He also started his brewery making beer under the name of LandShark Lager. He also owns a casino at the Resorts Casino Hotel in Atlantic City. He has developed a video game for Facebook and is in talks for the second one, too.
He has a retirement home planned in partnership with other companies called Lattitude Margaritaville, which is worth 1 billion dollars. Recently, he has initiated a joint venture of producing licensed cannabis called Coral Reefer brand marijuana.
Jimmy Buffett Net worth
Jimmy Buffett, in his musical tours, concerts, and albums, and a number of other business ventures was estimated by Forbes to be earning $55 million every year, rounding up to a total of $550 million, in 2017.
Currently, he is estimated to be worth around $600 million. The chill margarita-man is often seen on islands in Florida where he found inspiration for his music and engaging in movies and television as well.