The Rolling Stones were once paid $11.5million to perform a private concert
The private concert economy is an easy way for the biggest artists in the world to quietly bolster their bank account, and some of the fees that artist’s receive for these shows are utterly mind-boggling. Reportedly, The Rolling Stones were once paid $11.5million for one concert, which is 20 times more than they earned from headlining Glastonbury.
Jay Siegan, who helps artists receive corporate bookings, told Rolling Stone in 2022 about the bolstering private concert economy: “We’re seeing a lot of people who host a big-name artist in their mansions. They do it discreetly and for 30 to 50 friends, and they’ll have a million-dollar artist perform 45 minutes before they have a celebrity chef prepare a dinner. That’s the kind of thing we’ve seen more and more of.”
From an artist’s perspective, it’s a no-brainer. They receive an astronomical fee, play a shorter set than usual, don’t need to worry about promoting to show to ensure ticket sales and get flown out to glamorous locations. While these can be ego-bruising concerts, the pay cheque compensates for embarrassment.
A billionaire has no need to travel to watch their favourite band, instead opting to pay to bring them to their doorstep. When the founding partner of TPG Capital, David Bonderman, turned 60 in 2002, he celebrated in style at the Hard Rock Hotel and Casino in Las Vegas. To prevent the general public from entering the party, he even installed a private staircase in the hotel.
On the musical front, John Mellencamp was the opening act of the party before The Rolling Stones took to the stage and reportedly performed for 90 minutes. Between the musical acts, there was comedic relief courtesy of Robin Williams, who had also been flown out to Las Vegas.
According to the New York Post, 300-400 guests were in attendance, but it wasn’t exactly a rock ‘n’ roll affair. “It was really amazing, all that money,” one source told the publication. “But it was mostly conservative businessmen; it wasn’t a wild bash.” They added: “When [guests] arrived, they were handed glasses of champagne. A real shirt-and-jacket group, rocking away in their loafers.”
While the evening was a far cry from the anarchic dreams that The Rolling Stones shared when they began the band, they were paid an eye-watering sum, making the trip to Las Vegas worthwhile. According to The Sydney Morning Herald, the figure they received was $11.5million.
Ten years later, Bonderman once again put his hand in his pocket to celebrate his 70th birthday, which featured Paul McCartney, John Fogerty, and Robin Williams. However, the fee the businessman paid McCartney was undisclosed, and the musician has a history of donating his fees from private shows to charity.
