Paul Simon is an American singer and songwriter who has a net worth of 200 million dollars. He has made this staggering fortune through his successful music career. Most people know Paul Simon as the half of the duo Simon & Garfunkel.
Music Career
Paul began his music career in the 1950s. He started off as a solo artist but occasionally collaborated with various artists to make music. Simon had written over 30 songs by 1964, and during this time, he had partnered with his long-time friend Art Garfunkel to make songs.
Simon achieved a lot of success with his friend Garfunkel; they released several songs and albums, contributing to his success as an artist and financially.
The BMG Deal
What made Paul Simon rich was the crazy deal that he made with BMG. This deal, which involved Simon selling his royalties from the Simon & Garfunkel catalog, sent shockwaves in the entertainment industry. It was a strategic move by Paul; it ensured his financial success and also gave him an opportunity to focus on other projects. Besides, he used part of the money earned from the deal to make various business investments.
Many people questioned Simon’s decision, but he noted that it was a great deal that ensured that he secured his financial future and did not have to struggle financially.
Career Earnings
Paul Simon has earned varying amounts of money from his various musical works. At some point, he was earning a few thousand, but while working with his friend Garfunkel, he made a good fortune. However, his biggest career was when he sold his royalties to Sony for 250 million dollars. It was a great deal, and it made him crazy rich.
Philanthropy
Paul Simon has participated in various charitable causes. He has been advocating for music education among children. In the early 1970s, he held music auditions for young songwriters; he supported them, and this gave rise to the likes of Melissa Manchester and Tommy Manel, among others.
In the early 2000s, Paul Simon supported a non-profit organization that gave free musical instruments to children. He has also contributed money to help fund health for children from underserved areas.
Real Estate
Paul Simon also invested in real estate; he owns several properties which contribute to his overall net worth. In 2012, Paul and his wife bought a property in New Canaan, Connecticut, for 16 million dollars. Seven years later, they listed the property for sale; they valued it at 14 million, but they found a buyer for 10.8 million, making a loss from the sale.
Paul also owns a duplex in New York City. His neighbors include Robert De Niro and Lorne Michaels. He has other two properties, one in Hamptons, Montauk, and another in Allen, Texas.
Net Worth
Paul Simon’s net worth of 200 million is a reflection of his hard work and wise financial decisions. Additionally, despite owning this staggering fortune, he has remained humble and continues to make various contributions to the entertainment industry.
