Over the weekend, the world has been mourning the passing of the legendary Jimmy Buffett, who passed away aged 76 on September 1st, his family said in a statement, of what was later revealed to be Merkel cell skin cancer.
The statement read: “Jimmy passed away peacefully on the night of September 1st surrounded by his family, friends, music and dogs. He lived his life like a song till the very last breath and will be missed beyond measure by so many.”
Buffett, whose most famous song was the 1977 classic hit “Margaritaville,” famously turned his music into a lifestyle, and he was later synonymous not only with the hit song but the airport bars, restaurants, resorts and overall money-making brand that it inspired.
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Though he only had one other song hit No. 1 on Billboard’s Hot Country Songs chart (“It’s Five O’Clock Somewhere”) it was the late singer’s ability to make his biggest hit into a brand that landed him his billionaire status.
Following his passing, Forbes confirmed that Buffett’s net worth was roughly $1 billion, however, beloved for his music as he was, Barron’s reports only 5% of his billion-dollar net worth is due to his music catalog.
Beyond ownership of his music catalog and ticket revenue from his performances, Buffett also owned a 28% stake in his company Margarita Holdings, which Forbes reports is valued at approximately $180 million.
The outlet adds: “His assets also include an estimated $570 million from his more than five decades of touring and recording, plus $140 million in private planes and homes.”
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Buffett had an expansive real estate portfolio, including a home in St. Barth’s he owned for three decades, an estate in Palm Beach, a property in Sag Harbour – where he passed – and more.
The legendary singer started his career in the 1970s
Furthermore, the Margaritaville brand also boasted its own homes. Beyond restaurants and bars, the brand launched Jimmy Buffett-inspired retirement communities in both Florida and South Carolina.
Margaritaville boasts several businesses, including bars, restuaauants, hotels, and retirement communities
Plus, the Mississippi native also owned shares of fellow billionaire Warren Buffett’s investment conglomerate Berkshire Hathaway, which as of last year had a revenue of $302 billion plus a stock price of $550,000. There is no relation between the two, but they were friends.
Buffett is survived by his wife of 46 years, Jane Slagsvol, plus their three kids: Savannah, 44, Sarah, 31, and Cameron, 28.
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