Ed King Net Worth

What Is Ed King’s Net Worth?

At the time of his death on August 22, 2018, Ed King, the celebrated guitarist and bassist best known for his work with the Southern rock band Lynyrd Skynyrd, had an estimated net worth of $10 million. This valuation reflects his extensive career in the music industry, spanning from his early days with the psychedelic rock band Strawberry Alarm Clock to his pivotal role in shaping the sound of Lynyrd Skynyrd.

Early Career and Strawberry Alarm Clock

Ed King was born on September 14, 1949, in Glendale, California, to parents Marjorie and Edward King. His musical journey began in earnest in 1967 when he co-founded Strawberry Alarm Clock. This band emerged from the fusion of two earlier groups, Thee Sixpence and Waterfyrd Traene, marking the beginning of King’s foray into the professional music scene. Strawberry Alarm Clock quickly gained prominence with their hit single “Incense and Peppermints,” which soared to number one on the Billboard Hot 100 chart. This success was a significant milestone in King’s early career, establishing him as a notable guitarist and bassist.

The band’s debut album, “Incense and Peppermints,” released in 1967, reached number 11 on the US chart, showcasing the band’s broad appeal and commercial viability. However, the band’s popularity waned in the 1970s, leading to internal conflicts and the eventual loss of their recording contract. By early 1972, Strawberry Alarm Clock disbanded, marking the end of King’s initial venture into the music industry.

Lynyrd Skynyrd: The Rise to Fame

In 1968, King’s path crossed with the members of a Southern rock band known as the One Percent, who were opening for Strawberry Alarm Clock. Impressed by their performance, King offered his services to the band’s frontman, Ronnie Van Zant. The One Percent later became Lynyrd Skynyrd, and in 1972, King joined as the band’s bassist following Leon Wilkeson’s departure. When Wilkeson returned, King transitioned to lead guitar, forming the iconic triple-guitar lineup with Allen Collins and Gary Rossington that defined Lynyrd Skynyrd’s signature sound.

King played a crucial role in the band’s first three albums, starting with their debut, “(Pronounced ‘Lĕh-‘nérd ‘Skin-‘nérd’).” On the band’s second album, “Second Helping,” he co-wrote the hit song “Sweet Home Alabama,” which became one of Lynyrd Skynyrd’s most recognizable tracks. King also contributed to other songs like “Poison Whiskey,” “Saturday Night Special,” and “Workin’ for MCA.”

In 1975, King left Lynyrd Skynyrd during the “Torture Tour,” a grueling experience that also led to the departure of founding member Bob Burns. King felt increasingly alienated as the only non-Southerner in the group. He was replaced by guitarist Steve Gaines. Despite leaving in 1975, his contributions to Lynyrd Skynyrd were immense. The band’s first two albums, which featured King’s work, were certified 2x Platinum, reflecting their commercial success and enduring popularity. Other notable Skynyrd hits from this era included “I Ain’t the One,” “Tuesday’s Gone,” “Gimme Three Steps,” and “Simple Man.” These songs collectively contributed to the band’s revenue through record sales, radio play, and continued licensing for various media.

Reunion and Later Years

Lynyrd Skynyrd’s career was tragically interrupted in October 1977 when the band’s chartered airplane crashed, killing Ronnie Van Zant, Steve Gaines, and Cassie Gaines. The surviving members reunited a decade later, with Johnny Van Zant, Ronnie’s brother, taking over as frontman. King rejoined the reformed Lynyrd Skynyrd, playing a significant role in tours and recording albums such as “Lynyrd Skynyrd 1991,” “The Last Rebel,” and “Endangered Species.” However, he had to leave the band again in 1996 due to congestive heart failure.

In 2006, King and the pre-airplane crash members of Lynyrd Skynyrd were inducted into the Rock and Roll Hall of Fame. This prestigious honor recognized their significant contributions to music and their enduring legacy in the rock genre.

Other Appearances

King made an appearance in the documentary film “If I Leave Here Tomorrow: A Film About Lynyrd Skynyrd.” Beyond Lynyrd Skynyrd, he appeared on television in the Discovery Channel docudrama “Moonshiners” in 2017. On the show, he appeared as a customer purchasing $30,000 worth of premium gin.

Health Issues and Death

King faced health challenges for many years. In 2011, he underwent a heart transplant. In 2018, after battling cancer, he passed away at his home in Nashville, Tennessee, at the age of 68. His death marked the end of a remarkable career that left a significant impact on the music industry.

Breakdown of Ed King’s Estimated $10 Million Net Worth

While it’s challenging to provide an exact breakdown without detailed financial records, we can infer the primary sources that contributed to Ed King’s $10 million net worth:

• Music Royalties and Publishing Rights: As a co-writer of iconic Lynyrd Skynyrd songs like “Sweet Home Alabama,” King earned significant royalties from song sales, radio airplay, and usage in movies, TV shows, and commercials. Publishing rights for these songs would have been a substantial asset.
• Record Sales: Lynyrd Skynyrd’s albums achieved multi-platinum status, generating significant revenue for the band members. King’s contributions to the band’s first three albums, as well as his involvement in later reunion albums, would have resulted in substantial income from record sales.
• Touring Revenue: Lynyrd Skynyrd was known for its extensive touring, and King’s participation in these tours would have contributed to his income. Touring revenue includes ticket sales, merchandise sales, and performance fees. The “Torture Tour” although difficult also provided income. The reunion tours from 1987-1996 also contributed to his wealth.
• Strawberry Alarm Clock Income: Although less substantial than his Lynyrd Skynyrd earnings, King’s early success with Strawberry Alarm Clock would have generated some income from record sales and performances. The #1 hit single “Incense and Peppermints,” certainly contributed to his early income.
• Investment Income: It’s plausible that King invested his earnings in stocks, real estate, or other assets that generated additional income over time. The $30,000 gin purchase on Moonshiners shows he may have been investing in other ventures.
• Hall of Fame Induction: The Rock and Roll Hall of Fame induction in 2006 may have included a monetary award, or it may have increased his earning potential through enhanced recognition and opportunities.

It’s important to note that this is an estimated breakdown based on publicly available information and general knowledge of the music industry. The actual figures may vary depending on King’s specific financial arrangements and investment strategies.

Contract Details and Specific Financial Data

Specific contract details and financial data related to Ed King’s music deals are not publicly available. Music industry contracts are typically confidential agreements between artists, record labels, and publishing companies. Therefore, it is impossible to provide precise figures for his royalty rates, publishing splits, or record sales earnings without access to these private documents.

However, we can infer some general information based on industry standards. Songwriters typically receive royalties for each copy of their song sold, each radio play, and each public performance. These royalties are divided between the songwriter and the publisher. In addition, artists receive royalties from record sales, although these royalties are often subject to deductions for recording costs, marketing expenses, and other label fees.

Given the success of Lynyrd Skynyrd’s albums and songs, it is reasonable to assume that King earned significant royalties throughout his career. His co-writing credit on “Sweet Home Alabama” alone would have generated substantial income over the years.

Property and Assets

Details regarding Ed King’s specific property holdings and assets are not publicly available. Information about real estate, vehicles, and other personal possessions is generally considered private. Therefore, it is not possible to provide addresses, model numbers, or other specific details about his assets. The fact that he lived in Nashville, Tennessee at the time of his death shows that he likely owned a home there.

However, it is plausible that King owned a home, vehicles, and other assets commensurate with his $10 million net worth. Successful musicians often invest in real estate, luxury cars, and other high-value items.