How savvy Tina Turner boosted her fortune to $250,000,000 two years before death
Fans and the music world have been remembering Tina Turner since she died aged 83 on Wednesday from ‘natural causes’.
While many have praised Turners unrivalled voice, on-stage energy, and her inspirational bravery for speaking out about domestic abuse, not many are aware the Proud Mary singer was also economically very savvy.
Two years ago, the Private Dancer singer boosted her wealth to $250million (£202m) by selling her image rights for a staggering $50million (£40m).
The Queen of Rock ‘n’ Roll made the deal – which included her music rights – with BMG.
BMG CEO Hartwig Masuch, 68, said at the time: ‘Tina Turner’s musical journey has inspired hundreds of millions of people around the world and continues to reach new audiences.
‘We are honoured to take on the job of managing Tina Turner’s musical and commercial interests. It is a responsibility we take seriously and will pursue diligently. She is truly and simply, the best.’
Turner created her fortune from nothing having grown up in rural poverty in Tennessee; an experience she described in her hit single Nutbush City Limits.
Her final fortune, estimated by Celebrity Net Worth, didn’t only come from her stream of hits including What’s Love Got to do With It, The Best, and We Don’t Need Another Hero.
But the rock icon also starred in films such as Tommy, Mad Max: Beyond Thunderdome, and Last Action Hero.
The star’s 1993 biopic What’s Love Got to Do With It told the heartbreaking story of her battle to hold onto her stage name during her divorce from her abusive ex-husband, and music partner, Ike Turner.
Up until his death in 2010 aged 76, Ike denied beating Turner.
In a post on its website, BMG has pledged to ‘maintain and develop’ Tina’s legacy.
The rights management giant added about the deal: ‘BMG is proud to announce it has acquired an extensive portfolio of rights in the Queen of Rock ’n’ Roll, one of the greatest and best-loved artists in popular music history, Tina Turner.
‘Working hand-in-hand with Tina Turner, BMG will maintain and develop her musical treasure-trove and safeguard her inspirational legacy.
‘The deal means BMG will be a partner in all of Tina Turner’s music interests. The transaction includes Tina Turner’s artist’s share of her recordings, her music publishing writer’s share, neighbouring rights and name, image, and likeness.
‘Tina Turner´s solo works comprise ten studio albums, two live albums, two soundtracks, and five compilations, which together have sold over 100 million records. Warner Music continues to be her record company.’
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