David Gilmour Reveals Pink Floyd’s Financial Mistake
via David Gilmour / Youtube
A rocker’s fortune might vanish in an instant, despite the fact that they may be reaping the financial benefits of commercial success thanks to platinum albums and sold-out concert tours. One band worth noting when it comes to financial mistakes would be Pink Floyd and their story of almost going “bankrupt” in the 70s.
At one time in their existence, the iconic band didn’t have the finest financial control, and this was due in part to the band members’ own carelessness rather than low album sales or their tours. Considering the band’s economic and sales success with albums like The Dark Side of the Moon (1973) and Wish You Were Here (1975), the revelation that they were nearly broke when recording The Wall in 1979 may come as a shock. David Gilmour explained that the band’s choices were to blame for the current economic downturn.
“It was our own fault. Pure stupidity,” Gilmour explained to Peter Van Dyck in 2000. “We let others take care of our money; we thought we handled our money with care. We had everything under control, didn’t we? The financial experts we appointed made a mess of our administration, and the British tax wanted us to be caught. If we didn’t take action right on time, we would have been bankrupt. But everyone makes mistakes.”
Many famous musicians rely on the services of financial consultants in the hopes of better managing their money and maximizing their profits. For this reason, Pink Floyd likely believed their new team of advisors had everything under control when they hired them, but they were, unfortunately, wrong about this.