Kiss bassist reveals what made him a multimillionaire

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KEY POINTS

  • Former Kiss bassist Gene Simmons is currently worth around $ 400 million
  • Simmons made most of his fortune through the group’s licensing deals
  • The entrepreneur said the group is making more than $ 100 million a year through various efforts

Gene Simmons is a rock and roll star who played bass and was the co-vocalist on rock band Kiss, where he was known by his stage character “The Demon”. The musical artist co-founded the group with singer Paul Stanley in the early 1970s.

As of that year, Kiss has sold over 100 million records worldwide from its inception and success from the 1970s to the 1990s. Due to his success, Simmons currently has an estimated net worth of $ 400 million, according to Celebrity Net Worth.

But more than his career as the band’s bassist, Simmons made the majority of his fortune through licensing deals. They included logos, icons and other intellectual properties related to Kiss that were licensed by over 5,000 different products, such as lunch boxes, comics and pinball machines.

Since the group’s founding in the 1970s, it has generated over $ 1 billion in licensing fees. Becoming part-owner of the group with Stanley, Simmons claimed that Kiss made about $ 100 million a year from touring, merchandise sales and licensing deals.

The former bassist’s primary residence since 1986 is his Beverly Hills home which spans 16,500 square feet and sits on nearly two acres of the world’s most precious land. Simmons bought the house in 1984 for around $ 1,327,500, which is estimated to be around $ 3.1 million today, according to Celebrity Net Worth.

The artist then embarked on a five-year construction project worth an estimated $ 12 million that renovated his home to have 10 bedrooms. But in October 2020, Simmons put his house up for sale for a hefty price of $ 22 million. However, he has since put the residence up for sale again for $ 25 million, Business fox has learned.

Simmons is also a successful entrepreneur, owning a restaurant chain, financial services management company, reality shows, a football team, and a book that made him a successful entrepreneurial author. More than being part of the group, the entrepreneur made more money by focusing on the Kiss brand and marketing it to others, according to Inc.

You’d think the rock n ‘roll attitude means Kiss rocker Gene Simmons is a liberal, but you’d be wrong. Simmons was very critical of Barack Obama and was a big supporter of the Iraq war. Photo: Reuters


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