There's a rumor going around that claims Kenny G made more money from a pre-IPO investment in Starbucks than he has from his long and prolific music career. Can that be true? It seems far-fetched. After all, Kenny G and his sax have been around forever. His solo career has lasted more than 35 years, and he's sold over 75 million albums worldwide to date. He even performed at Bill Clinton's inauguration! Yet, these rumors about his Starbucks fortune have circulated for years. Did Kenny G truly make more from his investment in Starbucks than he has from playing his sax?
Kenneth Gorelick was born on June 5, 1956, in Seattle, Washington. He landed his first professional gig at the age of 17 as a musician for Barry White's Love Unlimited Orchestra. While attending the University of Washington, he majored in accounting, preparing for a potential fallback career if music didn't work out. Fortunately for him, his musical journey took off. After his time with Barry White, Kenny G recorded with a local funk band before becoming a credited member of The Jeff Lorber Fusion. Then, he embarked on his solo career, which would later define him.
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Biography of Kenny G
Kenny G, whose real name is Kenneth Gorelick, is an American saxophonist known for his smooth jazz style. He was born in Seattle, Washington, and showed an early interest in music. Kenny G's first taste of professional music came at a young age, and his passion led him to work with various bands before establishing himself as a solo artist. His unique sound and captivating performances have made him a household name.
| Attribute | Details |
|---|---|
| Name | Kenneth Gorelick |
| Date of Birth | June 5, 1956 |
| Birthplace | Seattle, Washington |
| Genres | Smooth Jazz, Contemporary Jazz |
| Years Active | 1973 - Present |
Musical Career Highlights
Kenny G caught the ear of Clive Davis, who signed him to a deal with Arista Records in 1982. His debut album was released on August 1, 1982, and it went gold. The artist quickly gained popularity with subsequent albums, including G Force and Gravity, which both achieved platinum status. However, it was his fourth album, 1986's Duotones, that catapulted him to international stardom, largely due to the hit single "Songbird." This track is notably one of only two instrumentals to reach the top 5 of the Billboard Hot 100.
From that point, Kenny G's career skyrocketed. His next album sold 4 million copies, and his 1992 album "Breathless" sold an impressive 12 million copies, marking it as his best-selling work. The 1994 release "Miracles: The Holiday Album" also reached #1 on the Billboard Hot 100, selling 8 million copies. Kenny G is one of the most popular and biggest-selling musicians ever, with global sales exceeding 75 million records, contributing to his net worth of around $100 million. But the question remains: how much of this wealth comes from music?
Starbucks Investment and Wealth
In the early 1980s, Kenny G was introduced to notable entrepreneur Howard Schultz, who had just acquired Starbucks. Interestingly, Kenny's uncle was one of Starbucks' early backers. Using some of his early music royalties, Kenny decided to invest in Starbucks, despite the fact that he doesn't even drink coffee! While it’s challenging to determine the current value of his investment, it’s estimated that a $1,000 investment made in 1992 during Starbucks' IPO would now be worth over $300,000.
Kenny has mentioned that he made his initial investment in Starbucks in the mid-1980s, pre-IPO. If his investment was substantial enough, he could potentially be sitting on hundreds of millions of dollars! Furthermore, Kenny G's investment habits have expanded into stock picking, which has become a significant source of income as his music revenue has declined due to streaming services and online piracy.
Final Thoughts
So, has Kenny G made more money from his investment in Starbucks than from his illustrious music career? It’s quite possible! Today, a single share of Starbucks trades for approximately $89, compared to $17 during the company's 1992 IPO. After adjusting for stock splits and dividends, the original IPO price would be closer to $0.35 when comparing apples to apples. This fascinating blend of music and savvy investment makes Kenny G's story truly inspiring!
