Net Worth Ranker
What Is Rick Nielsen’s Net Worth?
Rick Nielsen, a prominent figure in American music as a musician, songwriter, and guitarist, has accumulated a net worth of $12 million. His financial standing primarily stems from his career as the lead guitarist, background vocalist, and primary songwriter for the renowned rock band Cheap Trick.
Career Highlights and Earnings
Nielsen’s career with Cheap Trick has been marked by significant commercial success. The band has released 20 studio albums, with several achieving Platinum status. “In Color” (1977), “Heaven Tonight” (1978), “Dream Police” (1979), and “Lap of Luxury” (1988) are among the albums that reached Platinum certification. Additionally, “All Shook Up” (1980) and “One on One” (1982) earned Gold certifications. These albums, along with popular singles like “I Want You to Want Me,” “Dream Police,” “If You Want My Love,” “The Flame,” and “Can’t Stop Fallin’ into Love,” have contributed significantly to the band’s and Nielsen’s financial success.
Cheap Trick’s sales figures exceed 20 million albums, reflecting their enduring popularity and contributing substantially to Nielsen’s income. His songwriting credits also include “Baby Mumbles” for “The Colbert Report,” which served as the show’s theme song for 11 seasons, generating royalty income. In 2016, Cheap Trick’s induction into the Rock and Roll Hall of Fame further solidified their legacy and enhanced Nielsen’s reputation and earning potential.
Besides music, Nielsen has made appearances in film and television, including “Disorderlies” (1987), “Boy Meets World” (1994), “The Drew Carey Show” (1998), and “TV Funhouse” (2001). He was also featured in the 2013 documentary “Sound City.” These ventures, while not his primary source of income, have added to his overall earnings.
Early Life and Career Beginnings
Born on December 22, 1948, in Elmhurst, Illinois, Richard Alan Nielsen’s upbringing in a musical family laid the foundation for his career. His parents, both opera singers, instilled in him a love for music. His father, Ralph, was a choir and symphony director who recorded over three dozen solo albums. During Nielsen’s teenage years, his parents opened a music store in Rockford, providing him with hands-on experience with various instruments.
Nielsen initially played drums for six years before transitioning to keyboards and guitar. His early bands included The Phaetons, The Grim Reapers, and Fuse, the latter disbanding in 1970 after releasing one album. Briefly replacing Todd Rundgren in Nazz, Nielsen then formed Sick Man of Europe with Tom Petersson and Bun E. Carlos in Philadelphia in 1972. In 1973, Nielsen and Carlos established Cheap Trick, later joined by Petersson and Robin Zander. Nielsen played a pivotal role in writing most of the songs for Cheap Trick’s initial albums.
Cheap Trick signed with Epic Records in 1976 and released their self-titled debut album the following year. “In Color” (1977) reached #73 on the “Billboard” 200 and achieved Platinum status in the U.S. and Canada. “I Want You to Want Me” became a hit after a live version was released in 1979, reaching #1 in Belgium, Japan, and the Netherlands, and #7 on the “Billboard” Hot 100. “Heaven Tonight” (1978) was certified Platinum in the U.S. and Canada, peaking at #48 on the “Billboard” 200, while “Surrender” became a top 10 hit in Belgium and the Netherlands. “Dream Police” (1979) achieved 3x Platinum in Canada and Platinum in the U.S. and Australia, reaching the top 10 in five countries. The title track reached #5 in Australia, #7 in New Zealand, and #9 in Canada.
Mid-Career Success and Continued Income
Cheap Trick’s success continued into the 1980s. “All Shook Up” (1980) was certified Gold in the U.S. and Canada, peaking at #24 on the “Billboard” 200. “One on One” (1982) also went Gold and featured “If You Want My Love,” which reached #2 in Australia. The band released “Next Position Please” (1983), “Standing on the Edge” (1985), and “The Doctor” (1986), with “Tonight It’s You” from “Standing on the Edge” reaching #8 on the “Billboard” Top Rock Tracks chart. “Lap of Luxury” (1988) reached #16 on the “Billboard” 200 and went Platinum in the U.S. and Canada. The single “The Flame,” written by Nielsen, topped the “Billboard” Hot 100, “Cash Box” Top 100 Singles chart, Australia ARIA chart, and Canada’s “RPM” chart. The band’s cover of Elvis Presley’s “Don’t Be Cruel” also became a hit, reaching the top 10 in the U.S., Australia, Canada, and New Zealand.
Later Career and Business Ventures
In the 1990s, Cheap Trick released “Busted” (1990), which was certified Gold in Canada, and “Can’t Stop Fallin’ into Love” reached #4 on the “Billboard” Mainstream Rock Tracks chart and #6 on the Canadian “RPM” Top Singles chart. Other albums from this period include “Woke Up with a Monster” (1994) and “Cheap Trick” (1997), with singles such as “You’re All I Wanna Do,” “Didn’t Know I Had It,” “Say Goodbye,” and “Carnival Game.”
In the 2000s, the band released “Special One” (2003), “Rockford” (2006), and “The Latest” (2009), featuring singles like “Scent of a Woman,” “My Obsession,” “Too Much,” “Perfect Stranger,” and “If It Takes a Lifetime.” In 2016, they released “Bang, Zoom, Crazy… Hello,” followed by “We’re All Alright!” and “Christmas Christmas” in 2017. “Bang, Zoom, Crazy… Hello” included “When I Wake Up Tomorrow,” which peaked at #24 on the “Billboard” Mainstream Rock chart. In 2021, Cheap Trick released “In Another World,” reaching the top 10 on the “Billboard” Top Album Sales and Top Tastemaker Albums charts and the Scottish Albums chart. These later albums and singles contributed to Nielsen’s continued income from royalties and sales.
Rick Nielsen’s Diverse Musical Collaborations
Beyond his work with Cheap Trick, Nielsen has collaborated with a diverse array of artists, including John Lennon, Glen Campbell, Hall & Oates, The Yardbirds, Foo Fighters, Mötley Crüe, Dusty Springfield, Gene Simmons, and Alice Cooper. These collaborations have not only broadened his musical experience but also contributed to his overall earnings through session work and royalties.
Personal Life, Possessions, and Business Interests
Rick Nielsen, married to his wife Karen, is a father of four children Scarlett, Daxx, Miles, and Erron. Nielsen’s reported ownership of approximately 2,000 guitars underscores his passion for music and serves as a tangible asset. In 2002, 34 of his guitars were featured in the “Customised Culture – Cars, Guitars, and Lowbrow Art” exhibition at the Rockford Art Museum in Illinois. From August 2012 to April 2013, the Burpee Museum of Natural History hosted “Rick’s Picks: A Lifelong Affair with Guitars and Music,” showcasing a vast collection of Nielsen’s guitars, personal items, stage clothing, and Cheap Trick memorabilia.
Nielsen’s business ventures extend beyond music. He is a co-owner of the Piece Brewery & Pizzeria in Chicago, indicating his diversification into the hospitality sector. Additionally, he co-owns the alcohol brand ROCK’N Vodka, expanding his entrepreneurial activities into the beverage industry. These business interests provide additional revenue streams and contribute to his overall net worth.
Award Nominations
In 1980, Cheap Trick received an American Music Award nomination for Favorite Pop/Rock Band/Duo/Group, underscoring their impact on the music scene. While not directly contributing to his net worth, such recognition enhances his reputation and legacy, indirectly influencing his earning potential.
