Net Worth Ranker
What Is Billy Preston’s Net Worth?
At the time of his death on June 6, 2006, Billy Preston, the highly acclaimed American musician, had a net worth of approximately $1 million. This figure, while substantial, doesn’t fully encapsulate the subsequent value of his musical catalog and royalty streams, which have proven to be worth several million dollars more in the years following his passing. Preston’s career spanned several decades, and his contributions to music as a session keyboardist and solo artist left an indelible mark on the industry.
Early Life and Career Beginnings
Billy Preston was born on September 2, 1946, in Houston, Texas, and spent his formative years in Los Angeles, raised by his mother, Robbie. As a child prodigy, Preston possessed a natural musical talent, mastering music independently. By the age of ten, he showcased his skills by playing the organ for gospel singers, including the renowned Mahalia Jackson. A year later, at the age of 11, Preston gained national recognition when he appeared on Nat King Cole’s television show, delivering a memorable performance of “Blueberry Hill” alongside the iconic artist. Adding to his early achievements, Preston also appeared in the film “St. Louis Blues,” which starred Nat King Cole, further solidifying his presence in the entertainment world. These early experiences set the stage for a career filled with musical innovation and collaboration.
Career Highlights with the Beatles
In 1962, Preston’s musical journey led him to become an organist in Little Richard’s band. While touring in Hamburg, he had the opportunity to meet the Beatles, an encounter that would eventually lead to significant collaborations later in his career. The connection with the Beatles deepened in 1969, a period when the band was experiencing internal tensions. George Harrison, a close friend of Preston, had temporarily left the group and attended a Ray Charles concert where Preston was playing the organ. Harrison invited Preston to join the Beatles in the studio, hoping his presence would ease some of the strain among the band members. Preston’s involvement proved fruitful as he played the organ and electric piano during many of the “Get Back” sessions. Additionally, he accompanied the Beatles on electric piano for their historic rooftop concert, a pivotal moment in music history. In April 1969, the song “Get Back” was officially credited to both the Beatles and Preston, marking a rare instance of the band sharing credit with another artist. Beyond the “Get Back” sessions, Preston also contributed his organ skills to “I Want You (She’s So Heavy)” and “Something” from the “Abbey Road” album, further cementing his role in the Beatles’ discography. His contributions during this period remain an important aspect of his overall impact on music and his subsequent net worth due to royalties and recognition.
Solo Career and Chart Success
As a solo artist, Billy Preston’s career began with the release of his first album, “16 Yr. Old Soul,” in 1963. This was followed by the instrumental album “The Most Exciting Organ Ever” in 1965, coinciding with his regular performances on the musical variety television series “Shindig!”. In 1969, while signed to the Beatles’ Apple label, Preston released “That’s the Way God Planned It,” produced by George Harrison, with its title track becoming a hit single in the UK. After the Beatles disbanded in 1970, Preston continued his partnership with Harrison, contributing to several of Harrison’s solo albums. In 1971, after signing with A&M Records, Preston released “I Wrote a Simple Song,” his most commercially successful album to date. This album featured the instrumental single “Outa-Space,” which reached number two on the Billboard Hot 100 and earned Preston a Grammy Award for Best Pop Instrumental Performance. In 1972, Preston continued his success with the album “Music is My Life,” which included the chart-topping single “Will it Go Round in Circles.” He followed this with major hits like “Nothing from Nothing” from his 1974 album “The Kids & Me,” and “Space Race” from “Everybody Likes Some Kind of Music.” In 1979, after seven years with A&M, Preston signed to Motown, where he collaborated with Syreeta Wright on the ballad “With You I’m Born Again,” which reached number four in the US. These hits significantly contributed to Preston’s income during his peak years.
Collaborations and Session Work
Throughout the 1970s, Preston played keyboards for the Rolling Stones, contributing to albums like “Sticky Fingers,” “Exile on Main St.,” and “Black and Blue.” He also served as their primary touring keyboardist from 1973 to 1977. Additionally, Preston composed “You Are So Beautiful,” which became one of Joe Cocker’s biggest hits. In the 1980s, Preston worked on session projects for artists such as Luther Vandross, Patti LaBelle, and Whitney Houston. He also toured with Eric Clapton, Ringo Starr, and the Band. In the early 2000s, Preston appeared on Johnny Cash’s album “American IV: The Man Comes Around.” He also toured with the Funk Brothers and Steve Winwood, and reunited with Eric Clapton for tours in Europe and North America. Additionally, Preston contributed to Ray Charles’ album “Genius Loves Company.” His later collaborations included work with the Red Hot Chili Peppers on their album “Stadium Arcadium.” Preston’s final recorded work was in 2005 and 2006, when he contributed to Neil Diamond’s album “12 Song” and Eric Clapton and J. J. Cale’s album “The Road to Escondido.” These collaborations not only showcased Preston’s versatility but also added to his income through session fees and royalties.
Later Years and Personal Struggles
In the 1980s, Preston experienced a decline in his career momentum due to struggles with alcohol and cocaine addiction, leading him to focus primarily on session work. During this period, he released albums such as “The Way I Am,” “Pressin’ On,” “On the Air,” and “You Can’t Keep a Good Man Down.” Following a nine-year hiatus, Preston returned in 1995 with “Billy’s Back,” and his final solo studio album, “You and I,” was released in 1997. Preston faced personal challenges, including struggles with accepting his homosexuality and coping with the effects of childhood sexual abuse. He did not publicly come out as gay until shortly before his death. His personal struggles also included legal issues related to drug possession and insurance fraud, which led to periods of incarceration and rehab. In 1991, he entered a drug rehab program, but was later arrested for sexually abusing a 16-year-old boy, although the charges were eventually dismissed. In 1997, he was sentenced to three years in prison for cocaine possession and was later indicted for a $1 million insurance fraud scheme after setting fire to his home in Los Angeles. Preston served 18 months of a four-year sentence at Avenal State Prison, where he also performed church services. These personal and legal challenges undoubtedly impacted his earnings and financial stability during this time.
Death and Legacy
Billy Preston died in June 2006 while in a coma caused by respiratory failure. He had suffered from kidney disease and received a kidney transplant in 2002. His three-hour funeral was attended by friends and collaborators, including Joe Cocker, Little Richard, and Merry Clayton. While his net worth at the time of his death was estimated at $1 million, the true value of his music catalog and royalty streams has grown significantly since then. Preston’s musical contributions, particularly his collaborations with the Beatles, the Rolling Stones, and other notable artists, continue to generate revenue and ensure his lasting legacy. The specific details of his royalty agreements and catalog valuation remain private, but it is clear that his musical legacy has substantial financial value.
