Me again! Thank you for your answer on public houses that was really helpful! My follow up question is - how do they pay for it? I get they are mega stars worth millions but dropping a couple million on a house to not use it? Seems crazy to me. Unless they are looking at it as an investment? Or since you said working residences, do you think some of their labels/company helped pay for it? Thanks again!!
Hi dear!
A couple million on a property for them isn’t that much, at all. And they are investments. Harry is known to have properties allover the place in London (I swear Harry has like 7 properties in just London), other parts of England, Ireland, Italy, NYC and LA. And I’m sure I’m missing some. All those houses “sit empty” when he spends most of his time in London/LA, but they’re investments. And some are vacation homes. The point is, the money really isn’t a factor. I know plenty of people who own several houses that are theirs, and that they don’t rent out. They’re investments regardless.
And I do think some of their companies help pay for it. They have trusts that deal with a lot of their real estate and investments. They have wealth management advisors, they’re really not in a position where they’re making irresponsible decisions about where to put their money into. In regards to their labels “helping pay” for the house, it is possible. But I’m not gonna pretend to know about economics and finance enough to explain how that arrangement would work. But it is definitely possible, and I’m sure an investment for all.
It’s not like they only have one source of income that goes into one bank account. They have businesses, investments, companies, real estate, trusts, etc etc. Their money gets managed by exclusive, expensive, wealth managers. They have business financing, they move money around for tax purposes. Like when Harry releases a song, I doubt he gets a check in the mail with the name ‘Harry Styles’ on it. I think the money made from that song goes to a business that he has that deals with the financial side of his art. Much like he has companies established specifically to deal with the financial side of managing touring. Harry’s touring company is called Rubicon Touring. When they need to rent speakers for his concert, ‘Harry Styles’ does not give out his own personal check to pay for it. It’s all done through his touring company accounts, that are themselves managed by people hired to deal with that stuff.
I think we need to understand just how wealthy they are. They’re on an entirely other level of wealth than most humans. And that kind of wealth only builds more wealth. They’re at a level where they could stop working today and continue to lead the same lifestyle they currently do, and not have to worry about money. Ever. Not a second thought about it. And their kids too. They are currently making money without “having to do anything”, right this second. They get paid for their past work. The week of 1D’s 10 year anniversary they made $749 thousand dollars. In one week, just from Spotify streams. That’s nearly $800K in ONE WEEK. Most of the world has never and will never come close to that kind of money. Even people with extremely good paying jobs may not make that in an entire year. Take an anesthesiologist for example. That is the highest paid medical specialty in the US. Their salaries range from $300-$500k A YEAR. When 1D made nearly double that in one week. Granted that was an outlier week due to the anniversary, but my point is: they are wealthy.
EDIT: also wanted to add that Louis, for example, used to pay $80K a year just for the taxes on his LA mansion that he spent like 1 week out of the year at. The majority of the time it sat empty. And that’s just in taxes. Did not include the gardeners, house cleaners etc that he had there to maintain the house even when he wasn’t there.
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