Hard Rock Money Man

Loading...
Loading...
At one point in the early-to-mid ‘90s, Guns N' Roses were one of the, if not the, biggest bands in the world. The five-piece band had gone from playing the dive bars and strip clubs of LA's notorious Sunset Strip to stadiums around the world. Even at the height of their fame though, GN'R's infamy and stories of excess followed them around like a dark cloud, or a refreshing return to rock hedonism, depending on your point of view. Look at the picture of the band above. The man on the far left is Duff McKagen, bassist in the band and the resident punk. McKagen was the guy who would take the microphone from front man Axl Rose and sing a cover of the Misfits' “Attitude”. But do not be fooled – while he might have looked like an overdose waiting to happen, he was perhaps the most “together” member of the band. That is the way it has worked out too. McKagen lefts Guns N' Roses after the “Spaghetti Incident” album, and later formed the band Velvet Revolver with fellow Guns alumni Slash and Matt Sorum. Before that though, while recovering from a ruptured pancreas in '94, McKagen was looking through Guns' financials for the previous six years, and quickly realized that he had no idea what he was looking at, and that fact was putting him and his band mates at the mercy of accountants. While with Velvet Revolver, McKagen started taking finance classes at Santa Monica Community College and then giving financial advice on the side, mainly to musician friends who were in the same boat he had been in. McKagen quickly realized that, not only was he good at managing money, but that fellow rock ‘n' rollers trusted him because he looked like them and not a conventional banker, world's away from their lifestyle, in a suit. Still, a little bit of convention does not hurt, so McKagen has teamed up with former banker Andy Bottomsley and launched Meridian Rock. They aim to “educate rockers about their finances instead of pandering or lying to them,” McKagen said. Meridian Rock launches in October and will perhaps see the most unexpected career arc since Steve Guttenberg became a Mayor.
Loading...
Loading...
Posted In: StartupsSmall BusinessPersonal FinanceGeneral
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...