Bill Wyman, the former bassist of the Rolling Stones, has opened up about the surprising financial difficulties he and some band members faced during the height of their fame. In a candid interview with Classic Rock, Wyman detailed the stark financial differences within the legendary rock group, with Mick Jagger and Keith Richards living comfortably while others like himself, Charlie Watts, and Ronnie Wood were left “scraping by.”
“I Should Have Left Earlier,” Wyman Admits
Wyman, who left the Rolling Stones in 1993, shared that he regretted not leaving sooner. “I hung on for a three-tour ending across ’89 and ’90, after seven years of nothing,” he revealed. During this period, Wyman found himself in serious financial trouble, ending up with a bank overdraft of £200,000. “We weren’t earning anything,” he explained, contrasting his situation with the wealth of Jagger and Richards.
While Jagger and Richards were financially secure, Wyman described how his fellow bandmates struggled to make ends meet. “Ronnie [Wood] started to do art to feed his family,” he said. The financial strain had become so intense that Wyman only continued playing with the band in hopes it would be short-lived, as he had other personal projects he wanted to pursue.
The Band’s Exile and Tax Woes
Wyman also touched on the criticism the Rolling Stones received after leaving the UK in 1971. Known as tax exiles, the band moved to the south of France to escape harsh tax policies under Prime Minister Harold Wilson. According to Wyman, the band’s financial situation wasn’t as glamorous as the media portrayed.
“We had no fucking money,” Wyman bluntly stated, pointing fingers at former manager Allen Klein, who held most of the band’s earnings. “When you wanted anything, you begged him to send you some money.” With a 93% tax rate in place, Wyman emphasized that staying in the UK would have made it impossible to repay their debts. “We had to leave because we owed the Inland Revenue so much money… we were accused of being multimillionaires who didn’t want to pay taxes, but we weren’t.”
Life Behind the Fame
Despite their reputation as one of the greatest rock bands in history, Wyman’s revelations cast a new light on the internal dynamics of the Rolling Stones. While fans may have perceived them as living lavishly, financial troubles plagued some members of the group, creating a stark divide. For Wyman, it was not just about the fame or the music, but about survival, a sentiment echoed by the financial struggles he, Watts, and Wood faced.
This insight into the Rolling Stones’ financial hardships challenges the common belief that fame always brings fortune, showcasing the complex and often hidden realities behind the rock ‘n’ roll lifestyle.
As the band continues to thrive, with recent releases such as Hackney Diamonds, Wyman’s reflections offer a sobering reminder of the struggles that even the most successful musicians can face behind the scenes.
