Net Worth
In August 2022, Jerry Moss had a net worth of $700 million at the time of his death, according to Celebrity Net Worth.
| Net Worth | $700 million |
|---|---|
| Salary | N/A |
| Birthdate | May 8, 1935 |
| Birthplace | New York City, New York |
| Gender | Male |
| Height | N/A |
| Profession | Recording Executive, Musician |
| Nationality | American |
Highlights
– Jerry Moss had a net worth of $700 million at the time of his death in August 2022.
– He co-founded A&M Records with musician Herb Alpert.
– A&M Records grew into the largest independent record label in the world.
– They sold A&M Records to PolyGram for $500 million in cash.
– Moss and Alpert successfully sued PolyGram for an additional $200 million payout.
– They also sold Rondor Music, a music-publishing business, to Universal Music for $400 million.
– Moss was a passionate and successful horse breeder and racer.
– He had a significant art collection that fetched $64 million at an auction.
– Moss and his wife made a $25 million donation to the Music Center in Los Angeles.
Early Life
Jerry Moss was born on May 8, 1935, in New York City, New York. He attended Brooklyn College, where he earned a bachelor’s degree in English.
Career
After serving in the United States Army, Jerry Moss started his music career as a promoter of records. His first successful promotion was “16 Candles” by the Crests, which became a hit in 1958. He then partnered with trumpeter and bandleader Herb Alpert to form Carnival Records. They later renamed the company A&M Records, which became one of the most successful independent record labels in the world, signing artists such as The Police, Cat Stevens, The Carpenters, Janet Jackson, and Sheryl Crow.
In 1989, Moss and Alpert sold A&M Records to PolyGram for $500 million. They continued to manage the company for five years and eventually sued PolyGram for an additional $200 million payout. Moss and Alpert also sold Rondor Music, a music-publishing business, to Universal Music for $400 million in 2000.
Personal Life
Jerry Moss was married three times. He married Helen Sandra Rusetos and Ann Holbrook, both of which ended in divorce. In 2016, he started dating Tina Morse, whom he married in 2019. Moss had a passion for horse breeding and racing and was involved with the California Horse Racing Board. He also had a significant art collection and was known for his philanthropy, including a $25 million donation to the Music Center in Los Angeles.
Net Worth Over Time
Jerry Moss’ net worth significantly increased throughout his career. He initially founded A&M Records with Herb Alpert in 1962 with a modest investment of $200 from both partners. Over the years, A&M Records grew into the largest independent record label globally and was eventually sold to PolyGram for $500 million in 1989. Moss and Alpert also successfully sued PolyGram for an additional $200 million payout. Additionally, they sold Rondor Music to Universal Music for $400 million in 2000. At the time of his death in August 2022, Jerry Moss had a net worth of $700 million.
Components of Net Worth
Jerry Moss’ net worth was primarily derived from his co-founding and ownership of A&M Records, which became one of the most successful independent record labels in the world. The sale of A&M Records to PolyGram for $500 million, the successful lawsuit for an additional $200 million payout, and the sale of Rondor Music for $400 million also contributed significantly to his net worth. Moss was also involved in horse breeding and racing, owning horses that competed in prominent races and winning substantial prizes. His valuable art collection, a portion of which was sold for $64 million, further added to his net worth. Moss and his wife’s philanthropy, including a $25 million donation to the Music Center in Los Angeles, also reflected their wealth and impact.