VELVET REVOLVER Bassist Duff McKagan - "I Do Everything I Can Do So This Band Doesn't Get Ripped Off"
July 7, 2007, 17 years ago
The following report is courtesy of Reuters:
With his ragged mane and heavily tattooed wiry frame, former GUNS N' ROSES bass player Duff McKagan looks every bit the rock star. But the 43-year-old musician doubles as a savvy investor, overseeing a diverse portfolio ranging from property and stocks to vintage guitars.
While he draws the line at donning a suit and tie, McKagan also runs the business affairs for his new band, VELVET REVOLVER, which just released its second album, Libertad.
"I do everything I can do so this band doesn't get ripped off," said McKagan, who subscribes to the online edition of The Wall Street Journal, and constantly checks his BlackBerry for the latest financial headlines."We're the last ones to get paid. We work pretty hard for the money we make."
With the recorded-music business in a tailspin, due largely to internet piracy, bands have to be financially creative, McKagan said in a recent interview.
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