(Penn Live) - Quincy Jones had a fortune of $500 million at the time of his death, according to Celebrity Net Worth.
The legendary record producer and 28-time Grammy winner died at the age of 91 Monday at his home in the Bel Air area of Los Angeles surrounded by family.
The music titan earned the title of one of the most celebrated musicians and producers in history throughout his decades-long career, thanks to his collaborations with Michael Jackson, Frank Sinatra, Diana Ross, Aretha Franklin, and Ray Charles.
His work with Jackson saw him produce the star’s “Off the Wall,” “Bad” and “Thriller” albums, the latter of which continues to be considered one of the bestselling albums of all time.
In addition to composing the soundtracks to countless movies and TV shows, he produced the 1990s TV series, “The Fresh Prince of Bel-Air,” and launched the hip-hop magazine “Vibe” in 1993.
Jones also produced and conducted the 1995 charity track, “We Are the World,” which went on to become one of the bestselling singles of all time.
And his net worth was greatly boosted by these business ventures, including owning the rights to vast catalogs of music, in addition to his own work.
Through his broadcast company Qwest Broadcasting, Jones acquired TV stations in Atlanta and New Orleans for $167 million, effectively making it the largest minority-owned broadcasting company in the U.S. at the time.
In 1999, Quincy Jones Entertainment was sold for $270 million. In 2001, Qwest Records went downhill after Warner Music Group bought out Jones’ 50 percent stake in the label for an estimated $10 million. Meanwhile, Vibe magazine discontinued publishing after 16 years following being sold to a venture capital firm, Wicks capital, in 2009 for an estimated $35 million. SpinMedia later acquired Vibe magazine in 2013 for an undisclosed amount.
A longtime resident of Bel Air, in 2005, Jones sold his former Bel Air home for close to its $5.4 million asking price. Per the Los Angeles Times, the music mogul moved to a 25,000-square-foot compound he built on the west side of Los Angeles.
With a reach that has spanned from record sales and royalties to multimedia companies and real estate, it’s no wonder Jones’ seven children – including his actress daughter Rashida Jones – could inherit a staggering fortune after his death.
He was married three times and had seven children with five different women.
He was first married to his high school girlfriend Jeri Caldwell – with whom he shared his first child, Jolie, 69 – for nine years until 1996. He had a son and a daughter, Quincy III, 55, and Martina, 58, with second wife Ulla Andersson – to whom he was married to for seven years until the two divorced.
He then married “Twin Peaks” star Peggy Lipton, with whom he shared two daughters – Kidada, 50, and Rashida, 48. The two divorced in 1989.
Though he didn’t marry again, Jones has two other children – Rachel, 59, and Kenya, 31, with dancer Carol Reynolds and actress Nastassja Kinski.
By EmilyAnn Jackman
Nov. 6, 2024
