Marvin Gaye - Minus $9 Million Net Worth, The Prince Of Motown
Marvin Gaye was an American singer-songwriter, musician, and record producer who died in 1984.
Marvin Gaye net worth was - $9 million. Marvin left behind an estate that was $9 million in debt.
He had no will, and the IRS was the recipient of the majority of his obligation for unpaid taxes.
Prior to his passing, due to financial difficulties, he sold Motown Records the majority of his music royalties rights while keeping the publication rights.
All of his estate's royalties, which amounted to about $1 million a year for several years following his passing, were paid to the IRS.
Gaye was a pioneer and one of Motown's most dependable hit creators, and she played a significant role in defining the sound of R&B music.
As soon as he got a solo deal with Motown Records, his ability began to shine through. He was gifted with a mellifluous tenor and a three-octave vocal range.
|Date Of Birth||Apr 2, 1939 - Apr 1, 1984 (44 years old)|
|Height||6 ft (1.854 m)|
|Profession||Record producer, Singer-songwriter, Musician, Composer, Keyboard Player, Film Score Composer|
|Nationality||United States of America|
|Net Worth||-$9 Million|
On January 8, 1964, Marvin wed Berry Gordy's sister Anna, and before their 1977 divorce, they adopted Marvin III, Anna's niece's biological son.
On October 10, 1977, Gaye married Janis Hunter; on September 4, 1974, they had a daughter named Nona and on November 16, 1975, a boy named Frankie.
In 1981, Marvin and Janis were divorced. Gaye smoked weed all of his life and started taking cocaine in the early 1960s.
He also took PCP, and it's been said that he developed depression and paranoia as a result of his drug usage.
Marvin Gaye tried to shoot himself in the head in 1969, but Berry Gordy's dad stopped him.
Marvin made another attempt at suicide ten years later by consuming an ounce of cocaine.
Gaye made another attempt at suicide by leaping out of a moving automobile four days before to his passing, according to his sister.
Marvin broke up a disagreement between his parents on April 1, 1984, in their Los Angeles home.
As the situation worsened, a fight broke out between Gaye and his father. Marvin Sr. used a rifle that Gaye had given him as a present to shoot his son in the chest and shoulder.
Less than 30 minutes after the incident, Marvin was declared dead at California Hospital Medical Center at 1:01 p.m.
According to Frankie Gaye, Marvin whispered these words as he was passing away:
"I obtained my goals... I asked him to do it since I couldn't do it myself.
It's nice since I finished my race and have no more left in me." Marvin Gaye was cremated and his remains was laid to rest on April 5 at Forest Lawn Memorial Park.
Gaye's ex-wife Anna and his three children scattered half of his ashes close to the Pacific Ocean.
Since Marvin had no will, Marvin III, then 17 years old, was appointed to serve as co-administrator of the estate.
Gaye had debts at the time of his passing, but they were later settled thanks to song royalties.
After it was determined that Marvin's father had a brain tumor, the charges against him were dropped from first-degree murder to voluntary manslaughter.
He was given a six-year sentence with a five-year probationary period that was suspended.
After receiving his military discharge, Gaye and his buddy Reese Palmer established the vocal group The Marquees.
Bo Diddley assisted the duo in obtaining a record deal with Columbia's OKeh Records. The Marquees were fired from the label after "Wyatt Earp," one of their singles, failed to chart.
The Marquees were hired by Harvey Fuqua, a co-founder of the R&B group the Moonglows, who later renamed them Harvey and the New Moonglows and relocated to Chicago.
After the trio split up in 1960, Gaye relocated to Detroit and obtained a recording contract with Tri-Phi Records, contributing as a session musician to a number of the label's albums.
Marvin was hired by Berry Gordy's Motown Records subsidiary Tamla after playing at his home in December 1960.
Gaye's debut album, "The Soulful Moods of Marvin Gaye," and his first single, "Let Your Conscience Be Your Guide," were both released in May 1961.
He co-wrote the Marvelettes smash song "Beechwood 4-5789," and he also had a solo success that year with "Stubborn Kind of Fellow."
Gaye won two Grammys in 1983 for Best R&B Instrumental Performance for "Sexual Healing (Instrumental Version)" and Best R&B Vocal Performance, Male for "Sexual Healing," the latter of which he got posthumously in 1996.
He received ten additional nominations for Grammy Awards, including Best Rhythm & Blues Group Performance, Vocal or Instrumental for "Ain't No Mountain High Enough" (1968), Best Rhythm & Blues Vocal Performance, Male for "I Heard It Through The Grapevine" (1969), Best R&B Instrumental Performance for "After The Dance" (1977), Best Rhythm & Blues Song for "Sexual Healing" (1983), and Best R&B Vocal Performance, Male for (1984).
In 2001, Marvin received a posthumous Online Film & Television Association Award nomination for Best Music, Adapted Song for Jack Black's rendition of "Let's Get It On" in the movie "High Fidelity."
Gaye got a star on the Hollywood Walk of Fame in 1990 after being elected into the NAACP Image Awards Hall of Fame in 1988.
Over 12,315,770 records by Marvin Gaye were sold, including 9,773,000 in the US and 1,840,000 in the UK. Midnight Love, the best-selling album by Marvin Gaye, has sold over 3,203,440 copies.
|MIDNIGHT LOVE (1982)||3,203,440|
|EVERY GREAT MOTOWN HIT (1983)||2,516,000|
|WHAT`S GOING ON (1971)||1,800,000|
|THE VERY BEST OF MARVIN GAYE (1994)||1,007,500|
|MARVIN GAYE`S GREATEST HITS (1976)||1,000,000|
|20TH CENTURY MASTERS - THE BEST OF MARVIN GAYE (2000)||697,000|
|LET`S GET IN ON (1973)||680,000|
|THE VERY BEST OF MARVIN GAYE (2001) (2001)||500,000|
|DIANA AND MARVIN (1973)||170,420|
|SOUL COLLECTION (1990)||100,000|
|THE LOVE SONGS (2000)||100,000|
|GREATEST HITS (1983) (1983)||100,000|
Marvin Gaye's unmatched voice reached millions of listeners with his songs demanding racial justice and sensual funk from his humble beginnings with Motown to his No. 1 successes.
Gaye was in debt when he passed away. The recording artist's death resulted in a $9 million loss in net worth.
His underwhelming net worth was mostly the result of owing taxes to the IRS. Gaye "sold the majority of his music royalties rights to Motown Records but was able to retain the publishing rights," according to the journal.
All of his estate's royalties, which were estimated to be worth $1 million year for several years following his passing, went to the IRS. In 1987, Gaye received a nomination for the Rock & Roll Hall of Fame.
2101 South Gramercy Street in Los Angeles' West Adams neighborhood. Marvin Gaye bought the house in 1975; it had first been constructed in 1905.
Sadly, Gaye's physical and mental condition started to deteriorate, and he was compelled to give his parents the house barely a year after buying it.
The house resembles how it did that day in 1984, with the exception of a few minor aesthetic alterations.
The home is entirely visible from the sidewalk, but is encircled by a gate and some low vegetation.
- Jeanne Gaye, Marvin Jr.'s sister, recollects her father once threatening her that he would murder Marvin Jr. if he ever touched him.
- Marvin Jr. frequently discussed death and suicide. He had also grown more and more paranoid in his later years.
- On April 1, 1984, Frankie, Marvin Jr.'s brother, held Marvin as he bled to death. Marvin's last words, according to him, were, "I got what I wanted... I couldn't do it myself, so I had him do it... It's OK, I ran my race, there's no more in me."
- According to the first autopsy and toxicology findings, Marvin Jr. died from a combination of cocaine and PCP poisoning. Despite the fact that just traces of cocaine were discovered in his system, it was subsequently reported.
- Even though Marvin Sr. had a brain tumor removed only a month prior, he was found to be competent to stand trial and given a June 20, 1984, appearance date.
- Marvin Sr. received a six-year suspended sentence and five years of probation from Judge Gordon Ringer, which meant that he would not go to jail until his probation was successfully completed.
Gaye "sold the majority of his music royalties rights to Motown Records but was able to retain the publishing rights," according to the journal.
All of his estate's royalties, which were estimated to be worth $1 million year for several years following his passing, went to the IRS.
Throughout the 1980s, Marvin lived in exile from taxes in Europe. He had amassed up to $9.2 million in debt in the days before his death, putting him under a great deal of financial duress. Of this, the IRS owed unpaid taxes totaling $4.5 million.
Gaye achieved fame in 1962 as a co-writer and drummer for the Marvelettes' song "Beechwood 4-5789."
Later that September, he released "Stubborn Kind of Fellow," his debut solo hit, which peaked at No. 8 on the R&B chart and No. 46 on the Billboard Hot 100.
Marvin Gaye has been referred to as a musical genius. The Hitmaker is credited for helping to define the sound of Motown music and for winning both the Prince of Soul and Prince of Motown awards.
Though it has been more than three decades since the death of the song, people continue to wonder about his personal life and financial difficulties.