Prince Didn't Own A Single Stock But He Did Have $800,000 Worth Of Gold Bars At The Time Of His Death

By on January 11, 2017 in ArticlesMusic News

The late Prince was known for his flamboyant personality and style, in addition to his unconventional quirks. For example, he reportedly once fired a crew member for looking at him. He also requested that there be "no stairs" at hotels he was staying at while on tour. And he didn't let reporters record or take notes during interviews, because in his mind, "that would be just like texting." Perhaps unsurprisingly, according to a report from the Minneapolis Star Tribune, it appears that the late singer also brought his unconventional personality to investing as well.

According to Bremer Trust, the wealth management firm in charge of evaluating Prince's assets, the "Little Red Corvette" singer had no stocks, bonds, or any other financial assets of the like to speak of. What he did have though, is a massive amount of gold bars. According to a statement filed in Minnesota court, Prince owned 67 10-ounce bars of gold, currently worth a combined $836,166.70.

There is no indication of when exactly Prince bought the gold, but depending on when he did purchase the bars, he could have either made a significant profit, or lost a significant amount. The price of gold in 2000 was less than $300 an ounce. The price skyrocketed to over $1,800 an ounce in 2011, but is now worth $1,180 an ounce. If Prince bought the bars at the outset of the new millennium, he was definitely a smart investor.

(Jonathan Daniel/Getty Images)

In addition to the gold bars, Prince also owned a significant amount of real estate. According to the same statement filed in court, the Minnesota native owned $25,431,900 worth of real estate, spread over 12 different tracts of land in Minnesota. He also had a combined amount of over $28,000 in four different bank accounts, in addition to $55,000 in "miscellaneous cash" and over $25,000 worth of "unclaimed property" at the time of his death.

Bremer Trust hasn't put a value on Prince's unreleased music, instruments, fine art, and other assets just yet. 

Articles Written by Marvin Jules
Marvin Jules is a freelancer with a passion for music and sports He is a graduate of Rutgers University with degrees is Communication and Human Resource Management. In addition to writing, he also runs an online store where he curates and sells vintage clothing and accessories. You can follow him on Instagram here (IG: 9to5thrift)
Did we make a mistake?
Submit a correction suggestion and help us fix it!
Submit a Correction
Discussion