Pete Wentz net worth: Pete Wentz is an American rock musician for the band Fall Out Boy who has a net worth of $10 million. Pete Wentz was born in Illinois on June 5, 1979. Wentz began his career in Chicago performing with several local hard core punk rock bands. That career path eventually led him to start his own band – Fall out Boy. The group released its first album, "fall out Boy's Evening out with Your Girlfriend" in 2003. It enjoyed moderate success, but their second album, "Take this to your Grave," was a hit and helped the group to become famous. In 2005, their hit song, "Sugar, We're Going Down" rose to Number 8 on the Billboard Top 100. Wentz is remarkably active and entrepreneurial away from the recording studio. He has authored a book and has another on the way. He owns Clandestine Industries, a company that distributes books and clothing. He also owns a TV production company and is co-owner of a New York City nightclub. And, of course, he continues to make great music. Wentz is married to fellow singer Ashlee Simpson.