Stevie Ray Vaughan Net Worth at Death – How Did He Get Rich?

Stevie Ray Vaughan Net Worth 

Stevie Ray Vaughan had an estimated net worth of $8 million at the time of his death. A preeminent bluesman, award-winning guitarist and singer Stevie Ray Vaughan earned critical and commercial success during the 1980s. He earned most of his income from album sales and concerts. 

Stevie Ray Vaughan played guitar as a child and became lead singer of the Texas band Double Trouble, which led to collaborations with David Bowie and Jackson Browne. Vaughan had hit albums with his band before releasing the album In Step in 1989, for which he won a Grammy. He also recorded with his brother Jimmy. Vaughan died on August 27, 1990, at the age of 35, in a nighttime helicopter crash.

To calculate the net worth of Stevie Ray Vaughan, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as personal loans and mortgages, are included in total liabilities.

Here’s the breakdown of his net worth:

Name: Stevie Ray Vaughan
Net Worth: $8 Million
Monthly Salary: $100 Thousand
Annual Income: $2 Million
Source of Wealth: Singer, Musician, Singer-songwriter, Guitarist, Songwriter, Record producer

Early Career and Brother

Stevie Ray Vaughn, a musician, was born on October 3, 1954, in Dallas, Texas. In the 1980s, Vaughan was at the forefront of a blues revival, bringing rock fans into the fold with a powerful, driving style of play that earned him comparisons to Jimi Hendrix, Otis Rush, and Muddy Waters. His four major studio albums were critical and commercial successes, charting high and paving the way for sold-out stadium shows across the country.

Vaughn picked up his first guitar at the age of ten, inspired by his older brother Jimmie’s guitar playing, a plastic Sears toy that he loved to strum. Vaughn taught himself to play the blues by the time he was in high school, using his exceptional ear (he never learned to read sheet music) and testing his stage skills at any Dallas club he could.

Vaughan had already played in several garage bands by the time he was in his junior year. Vaughn struggled to stay in school because he lacked academic motivation. Following a brief enrollment in a Southern Methodist University-sponsored alternative arts program, Vaughn dropped out, relocated to Austin, and focused on making a living as a musician. Vaughan collected soda and beer bottles for money and couch-surfed at various friends’ houses to make ends meet. He spent the rest of his time playing music, jumping in and out of various bands with semi-regular gigs in the Austin area.

Vaughan and a few others formed Triple Threat in 1975. After some reorganization, the band was renamed Double Trouble after an Otis Rush song. With Vaughan on lead vocals, the band amassed a sizable fan base throughout Texas. Their popularity eventually spread beyond the borders of Texas. Mick Jagger noticed the group and invited them to perform at a private party in New York City in 1982. Double Trouble performed at the Montreux Blues & Jazz Festival in Switzerland the same year.

Big Break

While there, David Bowie noticed Vaughan’s musical abilities and asked him to play on his upcoming album, Let’s Dance. Vaughan and his bandmates were signed to a record deal with Epic, where they were placed in the capable hands of legendary musician and producer John Hammond, Sr.

Texas Flood, the resulting album, did not disappoint, reaching No. 38 on the charts and catching the attention of rock stations across the country. Stevie was voted Best New Talent and Best Electric Blues Guitarist in a Guitar Player Magazine reader poll in 1983. After a successful tour, Double Trouble recorded a second album, Couldn’t Stand the Weather, which reached No. 31 on the charts and went gold in 1985.

More albums (the live album Live Alive, followed by another studio collection, Soul to Soul) and success followed. Vaughan received Grammy nominations and, in 1984, the National Blues Foundation Awards, which named him Entertainer of the Year and Blues Instrumentalist of the Year. He was the first white musician to receive both awards.

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Mainstream Success

But Vaughan’s personal life was deteriorating. His marriage to Lenora Darlene Bailey, whom he married in 1979, fell apart. He struggled with drug and alcohol addiction. Finally, in 1986, while on tour in Europe, the guitarist checked himself into rehab.

For the next year, Vaughan avoided the high-powered music scene that had dominated his life for the previous five years. However, in 1988, he and Double Trouble resumed touring and began working on a new album. In Step, the group’s fourth studio album, was released in June 1989. The album featured Vaughan’s driving guitar style, as well as several songs, such as “Wall of Denial” and “Tight Rope,” that touched on his personal struggles. The album charted at No. 33 and earned the group a Grammy for Best Contemporary Blues Recording.

Vaughan was a fan of blues history as well as a participant in it. He had Hendrix’s “wah-wah” guitar, as well as a small army of classic Stratocaster electric guitars with names like Red, Yellow, and National Steel. His favorite, and the one he played the most, was a 59 Strat he called “Number One.”

Vaughan and his brother entered the studio in the spring of 1990 to begin work on an album that would be released that autumn. The album, Family Style, was released in October of that year, but Stevie never got to hear it.

Death and Legacy

Vaughan and Double Trouble opened for Eric Clapton, Buddy Guy, Robert Cray, and Jimmie Vaughan on August 26, 1990, in East Troy, Wisconsin. Vaughan boarded a helicopter bound for Chicago shortly after midnight. The helicopter crashed into a hilly field just minutes after takeoff due to dense fog, killing everyone on board. Vaughan was laid to rest at the Laurel Land Memorial Park in South Dallas. The musician’s memorial service drew over 1500 people.

Vaughan’s legend has only grown in the years since. Only a little more than a year after his death, Texas Governor Ann Richards proclaimed October 3, 1991, “Stevie Ray Vaughan Day.”

Fans have also received a number of tribute specials and posthumous albums, including an early live Double Trouble record and a special box set of rare recordings, live shows, and never-before-heard outtakes. Sales of these newer records have more than matched those released during Vaughan’s lifetime, demonstrating the power of his music.

Further Reading

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How To Become Rich Like Stevie Ray Vaughan?

Stevie Ray Vaughan did not become rich by luck. To become as rich as Stevie Ray Vaughan, you have to work smart.

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