Jerry Moss Net Worth 2024

What was Jerry Moss’ Net Worth?

Jerry Moss was an American recording government and musician who had a net worth of $700 million on the time of his demise in August 2022. Jerry Moss earned his fortune because the co-founder of A&M Records, which he established with musician Herb Alpert. The firm identify is a play on the primary letters of their respective final names. A&M was launched in 1962 with a handshake and $200 invested from each males. They by no means signed a proper contract for his or her partnership. It was all dealt with by a handshake. Over the subsequent 25 years, A&M would finally develop into the most important unbiased document label on the earth. A&M is legendary for having signed most of the most profitable artists of the final a number of many years together with The Police, Cat Stevens, The Carpenters, Janet Jackson and Sheryl Crow.

In 1989, Herb and Jerry bought A&M information to PolyGram for $500 million in money. That’s the identical as roughly $1.2 billion in at the moment’s {dollars}. The duo would keep on for the subsequent 5 years managing the corporate. In 1999, Herb and Jerry efficiently sued PolyGram for an extra $200 million payout.

In 2000 Herb and Jerry bought one other firm they co-founded, Rondor Music, a music-publishing enterprise, to Universal Music for $400 million.

Horse Racing

Along along with his spouse Ann, Jerry are very passionate and profitable horse breeders. Their horses have competed very effectively in lots of outstanding races around the globe. One of their horses gained the most important ever first place purse on the 2005 Kentucky Derby. Jerry and Ann steadily identify their horses after artists or songs from A&M information.

Early Life and Education

Jerry Moss was born on May 8, 1935 in New York City, New York. As a younger grownup, he went to Brooklyn College, from which he earned his bachelor of arts diploma in English.

Career Beginnings

After serving within the United States Army, Moss launched his music profession as a promoter of information. The first observe he promoted was “16 Candles” by the Crests, which grew to become a success in 1958 when it peaked at quantity two on the Billboard Hot 100. A pair years later, Moss relocated to California, and partnered with trumpeter and bandleader Herb Alpert to type Carnival Records. The pair initially ran the corporate from an workplace in Alpert’s storage.

A&M Records

Finding out that the identify Carnival Records had already been claimed, Moss and Alpert renamed their firm A&M Records, after each of their first initials. From 1966 to 1969, the corporate had its headquarters on the grounds of Charlie Chaplin Studios close to Sunset Boulevard in Los Angeles. Over the course of the 60s and 70s, A&M housed a plethora of main artists, together with Burt Bacharach; the Carpenters; Lee Michaels; Quincy Jones; Perry Botkin; Liza Minnelli; Gino Vannelli; Bobby Tench; Toni Basil; Paul Williams; Joan Baez; Billy Preston; and Phil Ochs. Via licensing and signing agreements, the corporate additionally signed a number of fashionable British artists, reminiscent of Joe Cocker, Free, Procol Harum, and Cat Stevens.

In the 70s, A&M agreed to a producing and distribution take care of Ode Records, and subsequently launched albums by Carole King, Styx, Supertramp, and the comedy duo Cheech & Chong. The firm continued to work with varied famend acts all through the 80s, together with Janet Jackson; Falco; Bryan Adams; Suzanne Vega; Orchestral Manoeuvres within the Dark; Oingo Boingo; the Police; Charlie Peacock; Henry Badowski; and Joe Jackson. For some time the most important unbiased document firm on the earth, A&M step by step added speciality imprints reminiscent of Almo International, Horizon Records, and Vendetta Records.

PolyGram Records and Fate of A&M

In 1989, Moss and Alpert bought A&M Records to PolyGram Records; the deal was estimated to be valued at round $500 million. The pair continued to handle the label till 1993, at which level they left as a result of firm’s insistence that they make the label conform to company expectations. In 1998, Moss and Alpert sued PolyGram for violating the integrity clause of their contract, and finally settled for a $200 million fee.

PolyGram was finally bought by Seagram in 1998 and subsequently dissolved into Universal Music Group. Meanwhile, A&M ended its operations when it merged with Interscope Records and Geffen Records, creating Interscope Geffen A&M Records. Later, in 2007, the A&M model was revived and merged with Octone Records, forming A&M Octone Records. This firm ran till 2014 when it merged with Interscope.

Rondor Music

Rondor Music International was a extremely influential music publishing firm co-founded by Herb Alpert and Jerry Moss. Established as a separate entity from A&M, Rondor Music grew to become recognized for its intensive catalog of songs and a repute for artist-friendly practices. It owned the rights to quite a few hit songs and labored with a variety of acclaimed songwriters and musicians.

In 2000, Rondor Music was bought to Universal Music Group for roughly $400 million price of Seagram inventory. Seagram, a Canadian multinational beverage firm which was managed by the Bronfman family, was notably concerned within the leisure and media enterprise in the course of the Nineties. This involvement led to its relationship with Universal Music Group. In 1995, Seagram acquired 80% of MCA Inc., which included Universal Pictures and its music division, Universal Music Group. This acquisition marked Seagram’s important entry into the media and leisure trade. Later, in 2000, Seagram’s leisure belongings, together with Universal Music, have been acquired by French media conglomerate Vivendi, and this deal led to the creation of Vivendi Universal, now often known as Vivendi SA. This acquisition successfully built-in Seagram’s leisure holdings, together with Universal Music, into Vivendi’s portfolio.

Almo Sounds

Following their departure from PolyGram, Moss and Alpert based the document label Almo Sounds in 1994. With the brand new label, their intention was to breed the unique idea and firm tradition of A&M. Almo Sounds signed such artists as Imogen Heap, Garbage, and Gillian Welch in the course of the 90s. Additionally, Alpert launched a few of his personal albums on the label. Almo ceased releasing new media in 1999.

Horse Racing

Outside of the world of music, Moss is thought for his involvement with horse breeding and horse racing. In 2004, he joined the California Horse Racing Board. The following 12 months, Moss entered his horse Giacomo, a grey stallion, within the Kentucky Derby. Giacomo had odds of 50-1 going into the race, and ended up profitable because the third-biggest long-shot victor in Derby historical past. For the victory, Moss gained the first-place purse of $1.6 million, which set one other document as the most important examine in Kentucky Derby historical past.

Art Collection

Over the many years, Jerry collected an unlimited and useful artwork assortment. A portion of his assortment went up for public sale in November 2023. The sale, which included items by Andy Warhol and Frida Kahlo, fetched $64 million.

Personal Life and Philanthropy

Jerry was married thrice. His first marriage was to Helen Sandra Rusetos. His second marriage was to Ann Holbrook. Both marriages resulted in divorce. In 2016 he started relationship Tina Morse. They married in 2019 and remained collectively till his demise.

On the philanthropic aspect of issues, Moss and his spouse donated $25 million to the Music Center in Downtown Los Angeles, marking the only largest contribution ever made to that establishment.

Jerry Moss died on August 16, 2023 on the age of 88. As we element within the subsequent part, on the time of his demise Jerry owned a minimum of $100 million price of actual property.

Bel Air Mansion

In 1987 Jerry paid an undisclosed quantity for a 0.87 acre property with an 11,600 sq. foot mansion that was in-built 1937. In 1994 he purchased the home subsequent door for $3.05 million, increasing his property to 1.8 acres. Jerry’s heirs listed this house on the market in November 2023 for $53 million.

Maui Estate

For a number of many years Jerry owned a property in Maui. Like his Bel Air property, he pieced collectively the Maui property in a number of transactions. The one transaction that was recorded was $2.2 million spent in 1992 to amass a 0.68 parcel. At the time of his demise the property spanned 1.43 acres. Jerry’s heirs listed this property on the market in November 2023 for $39 million.