Net Worth Ranker
What Is Sammy Hagar’s Net Worth?
Sammy Hagar, the “Red Rocker,” has an estimated net worth of $150 million. This substantial fortune stems from a multifaceted career encompassing music and successful entrepreneurial ventures. While his association with Van Halen significantly boosted his profile, a considerable portion of his wealth arises from his business acumen, especially his involvement with the Cabo Wabo tequila brand.
Early Life and Career Beginnings
Samuel Roy Hagar was born on October 13, 1947, in Salinas, California. Shortly after his birth, his family relocated to Fontana, Southern California, where his father found work at a steel mill. As a teenager, Hagar’s interest in Southern California’s burgeoning music scene grew, and at the age of 14, he formed his first band, The Fabulous Castilles. Hagar is a graduate of Fontana High School. By 1967, Hagar had joined the Johnny Fortune Band as a vocalist and guitarist. He also spent time with the Justice Brothers, who served as the house band at The Nightclub in San Bernardino, California.
Hagar’s musical trajectory gained momentum in 1973 when he joined Montrose. He contributed to their debut album, “Montrose,” and their second release, “Paper Money.” Hagar penned his inaugural song, “Bad Motor Scooter,” during his tenure with Montrose. Following his departure from Montrose, Hagar embarked on a solo career. One of his most prominent hits during this period was “I Can’t Drive 55,” from his 1984 album “VOA,” which solidified his “Red Rocker” persona.
Van Halen Era and Musical Success
In July 1985, Eddie Van Halen and Alex Van Halen approached Hagar to fill the role of lead singer after David Lee Roth’s departure. This marked the beginning of a successful era for Van Halen. The band, fronted by Hagar, released four multi-platinum albums that dominated the charts: “5150,” “OU812,” “For Unlawful Carnal Knowledge,” and “Balance.” These albums spawned nine number-one rock hits, cementing the band’s status during what was sometimes referred to as the “Van Hagar” period. Despite the musical triumphs, internal discord led to Hagar’s departure from Van Halen in the summer of 1996.
During the early 1990s, Hagar, alongside Van Halen’s bassist Michael Anthony and drummer David Lauser, created a side project called Los Tres Gusanos, which translates to The Three Worms. This band performed Hagar’s songs, Van Halen tracks, and cover songs at Hagar’s Cabo Wabo nightclub in Cabo San Lucas, as well as various locations in San Francisco. In late 2003, Hagar rejoined Van Halen. The following year, the band released a greatest hits compilation titled “The Best of Both Worlds” and embarked on a world tour. However, the band’s existing tensions resurfaced during the tour, resulting in further friction.
Cabo Wabo Tequila and Business Ventures
Hagar’s entrepreneurial spirit led him to create and market Cabo Wabo tequila, a venture that significantly augmented his wealth. His ownership of the Cabo Wabo Cantina nightclub and restaurant in Cabo San Lucas, Mexico, provided a venue for Hagar to perform during his annual “Birthday Bash.”
In early 2009, Hagar launched Sammy’s Beach Bar & Grill at Harrah’s Casino in St. Louis, Missouri. Shortly after, another location opened in the Southwest Airlines terminal at McCarran Airport in Las Vegas, Nevada. Hagar donates all profits from both locations to local charities. These ventures reflect Hagar’s business acumen and philanthropic endeavors.
Cabo Wabo Fortune
While Hagar made his first fortune in the music industry, the bulk of his net worth today actually has nothing to do with Van Halen. In the late 1990s, Sammy began selling his own brand of Tequila named “Cabo Wabo” after a bar he bought in Cabo San Lucas, Mexico, in the 1980s. Over the years, his bar and tequila became very popular not just with locals but with global distributors. In 2007, Sammy sold 80% of the Cabo Wabo tequila company to Gruppo Campari for $80 million. In 2009, he sold the remaining 20% for an additional $15 million. The company was majority-owned by Hagar, which means he personally took home around $95 million from the deals.
Real Estate Holdings
Sammy and Kari Hagar’s primary residence is a home in Mill Valley, California, in Marin County, north of San Francisco. He purchased the home in 1978 for $160,000. He also owns a home several hours north in Lake Tahoe, which he bought in 2007 for $450,000.
Hagar has been trying to sell his Lake Arrowhead, California estate for a few years now without success. The 6,557-square-foot house is now up for rent for $30,000 a month or for weekends. The chateau, which was built in 2009, is three stories high with eight bedrooms, eight and a half bathrooms, and a separate guesthouse. Hagar originally purchased the property in 2009 for $2.3 million. When he first placed it for sale a few years ago, it was going for $5.25 million but has since been reduced to $3.9 million. He previously owned a home in Haiku, Hawaii, which he sold in 2018 for $3.1 million.
Car Collection
Sammy Hagar is a noted car enthusiast, especially Ferraris. In 2015, he custom ordered a $2.2 million white LaFerrari. Out of 499 LaFerraris that exist in the world, his is the only one painted white. Hagar still owns the black 1982 Ferrari 512BB made famous in his “I Can’t Drive 55” music video. When it first hit the market back in 1982, a 512 BB had an MSRP of $32,000. Today, they regularly sell for $350,000+. Other cars in his collection include a 2005 Aston Martin Vanquish Lagonda, a 1967 Gateway GCM-R Fastback Mustang, a 2008 Ferrari 599 GTB Fiorano F1, a Ford Shelby GT, a Jaguar XKE, a Ford GT, and dozens more.
