What is Duff McKagan’s Net Worth?
Introduction
Duff McKagan is an American multi-instrumentalist, singer, and songwriter.
McKagan is best known for his 12-year stint as the bassist in the hard rock band Guns N’ Roses. After their induction into the Rock and Roll Hall of Fame, McKagan rejoined the group in 2016.
He released his 1993 solo album, “Belief in Me” and then formed the supergroup Neurotic Outsiders.
Duff McKagan’s net worth is approximately $70 million as of August 2022.
Early Life
Michael Andrew McKagan was born in Seattle, Washington on the 5th of February 1964.
McKagan, the youngest of eight children, was born to Marie McKagan and Elmer McKagan. He was called “Duff” as a child.
His mother, a medical stenographer, supported his family after his parent’s divorce. He wrote in his autobiography, “It’s so Easy (And Other Lies),” that he was inspired by punk bassists like Barry Adamson or Paul Simonon.
Career
McKagan founded a punk group called the Veins in 1979.
After answering an advertisement in the newspaper, he moved to Los Angeles in 1983 and formed Road Crew with his Guns N’Roses bandmates, Steven Adler and Slash.
He was appointed bassist of Gun N’ Roses in 1985, which featured Axl Rose and Izzy Strain. Their debut album was released in 1987, after their first gig in 1985. McKagan was also part of the band. Guns N’ roses released the albums ‘Gn’ R Lies’ ‘Use Your Illusion I’ ‘Use Your Illusion II’ and ‘The Spaghetti Incident
He formed the Neurotic Outsiders supergroup in 1995 with John Taylor, Steve Jones, and Matt Sorum. They released an album entitled “Self-titled” the next year.
McKagan released his solo album, ‘Belief in Me,’ in 1993. McKagan did a tour in support of the album and then formed Loaded with Dez Cadena. The band released several albums, including ‘Episode 1999 Live’, Dark Days’, Sick’ and ’The Taking’.
In 2006, he joined Alice in Chains and Jane’s Addiction. He toured two years later with the Rock N Roll All Stars. In 2014, he performed with Gun N’ Ross.
Highlights
These are the top highlights from Duff McKagan’s career:
- Paradise City (Song, 1987)
- Patience (Song, 1987)
- Appetite for Destruction (Album, 1987)
- Dust N’ Bones (Song, 1991)
- November Rain (Song, 1991)
- Chip Away (Song, 2019)
How Does He Spend His Money
Duff McKagan invests his money in stocks and real estate.
McKagan owned several homes in Los Angeles. McKagan purchased a 1,855-square-foot cottage in Studio City in 1988. Two years later, he bought a 4,162 sq. foot home in Hollywood Hills for $838,000.
McKagan also owns 6,760 square feet of the mansion, which includes seven bedrooms as well as 8.25 bathrooms. McKagan also purchased a Seattle home for nearly $1.4million in 1993.
McKagan took $100,000 to invest in the stock exchange for the first time in 1994. Because he was born in Seattle, he chose to invest in three Seattle companies. He chose Microsoft, Amazon, and Starbucks as his stocks. Over the years, Duff has been very prudent with his stock investments.
Three Life Lessons From Duff McKagan
We now know everything about Duff McKagan and his success. Let’s look at some lessons we can learn.
1. Mass Produce
It is impossible to mass-produce someone’s heart or soul. It is a delicate matter.
2. Modern World
It’s a modern, connected world.
3. Bro Code
You see a lot of things when you are in a band or a marriage. People trust you with details about their lives. It’s a “bro code”, whatever you want to call it, but you must keep some things secret.
Favorite Quotes From Duff McKagan
My peers started calling me asking for my assistance when I began going to business school. I thought, “Well, there are many people like me who make lots of money but get scared and don’t know how to use it.” I didn’t want my peers to become 60 and be broke.
Not to be named, but many pop female artists don’t create their own songs. Many top male artists and boys’ band musicians don’t create their own music. They are just a product. They are a product. They don’t care about the musical integrity of any of this stuff.