.

Guns N' Roses, Duff McKagan Starts Money Management Firm

Duff McKagan inspired to learn about finance after his pancreas burst in 1994

March 7, 2011 11:55 AM ET
Guns N' Roses, Duff McKagan Starts Money Management Firm
John Shearer/WireImage

Former Guns N' Roses and Velvet Revolver bassist Duff McKagan has opened his own wealth management firm, Meridian Rock, for musicians. In an interview with Fortune, McKagan explains  he was inspired to pursue finance after his pancreas exploded due to years of drug and alcohol abuse in 1994. While recovering, the bassist looked through financial reports for Guns N' Roses and realized he had no idea what anything meant. Determined to educate himself about how to manage his newfound wealth, McKagan enrolled in a basic finance course at Santa Monica Community College, which led to full-time course work at Seattle University's Albers School of Business.

Photos: Guns N' Roses - The Early Years

McKagan eventually developed a reputation for his financial knowledge among other musicians and was bombarded with questions from friends and acquaintances about how to manage their money. This gave him the idea to open Meridian Rock along with British investor Andy Bottomley.

Photos: Velvet Revolver New Year's Eve 2008


According to McKagan, one of the goals of Meridian Rock is to be brutally honest with its clients. Whereas many bankers and managers overestimate the window of time when an artist will be guaranteed income, he hopes to give artists more realistic expectations and prepare them for the possibility that they may not be hot forever.

From Guns N' Roses bassist to money manager [Fortune]

To read the new issue of Rolling Stone online, plus the entire RS archive: Click Here

prev
Music Main Next

blog comments powered by Disqus
Daily Newsletter

Get the latest RS news in your inbox.

Sign up to receive the Rolling Stone newsletter and special offers from RS and its
marketing partners.

X

We may use your e-mail address to send you the newsletter and offers that may interest you, on behalf of Rolling Stone and its partners. For more information please read our Privacy Policy.

Song Stories

“Stillness Is the Move”

Dirty Projectors | 2009

A Wim Wenders film and a rapper inspired the Dirty Projectors duo David Longstreth and Amber Coffmanto write "sort of a love song." "We rented the movie Wings of Desire from Dave's brother's recommendation, and he had me go through it and just write down some things that I found interesting, and they made it into the song," Coffman said. As for the hip-hop connection, Longstreth explained, "The beat is based on T-Pain. We commissioned a radio mix of the song by the guy who mixes all of Timbaland's records, but the mix we made sounded way better, so we didn't use it."

More Song Stories entries »
 
www.expandtheroom.com