Net Worth Ranker
What Is Yngwie Malmsteen’s Net Worth?
Yngwie Malmsteen, the Swedish heavy metal guitar virtuoso, has accumulated a net worth of $5 million. While this figure might seem modest compared to some other iconic rock musicians, Malmsteen holds a distinguished position as a technically proficient rock master in the neoclassical metal genre.
Early Career and Musical Beginnings
Born Lars Johan Yngve Lannerback on June 30, 1963, in Stockholm, Sweden, Yngwie grew up in a musical family. He took his mother’s maiden name Malmsten and modified it slightly to Malmsteen. He created his first band at the age of 10, called Track on Earth. During his teenage years, he immersed himself in classical music, studying composers such as Niccolo Paganini and Johann Sebastian Bach. He also credits Ritchie Blackmore as a significant guitar influence. Although Malmsteen claims that Jimi Hendrix did not influence his musical style, his official website says that, “the day Jimi Hendrix died, the guitar-playing Yngwie was born.” He was heavily influenced by images of Hendrix smashing and burning his guitar in 1967 at the Monterey Pop Festival.
In 1982, Mike Varney from Shrapnel Records discovered Yngwie’s demo tape and brought him to the United States. He started his recording career playing heavy metal guitar with the band Steeler and then joined Alcatrazz. Yngwie played with Alcatrazz on its 1983 debut, “No Parole from Rock and Roll,” and on their live album “Live Sentence” in 1984.
Solo Career and Album Releases
In 1984, Yngwie released his first solo album, “Rising Force,” which was initially conceived as an instrumental side project. The album garnered significant acclaim, winning “Guitar Player” magazine’s award for Best Rock Album and earning a Grammy nomination for Best Rock Instrumental Performance. It also reached #60 on the “Billboard” album chart. His subsequent albums, “Marching Out” (1985) and “Trilogy” (1986), further solidified his presence in the music scene.
During the tour supporting “Trilogy,” Malmsteen faced a setback when a car accident left him in a coma for a week. During this time, his mother passed away from cancer. Despite this adversity, he persevered, continuing to release albums throughout the 1980s and 1990s, including “Odyssey” and “Trial by Fire: Live in Leningrad.”
The 1990s saw the release of eight solo albums: “Eclipse,” “Fire & Ice,” “The Seventh Sign,” “Magnum Opus,” “Inspiration,” “Facing the Animal,” “Concerto Suite for Electric Guitar and Orchestra,” and “Alchemy.” In 1996, he collaborated with former bandmates Marcel Jacob and Jeff Scott Soto on the album “Human Clay.”
In 2000, Malmsteen signed a contract with Spitfire, a U.S. record label, re-releasing his 1990s catalog to the American market. He recorded “War to End All Wars” with singer Mark Boals. Boals then left the band and was replaced by Doogie White.
Malmsteen made guest appearances on Derek Sherinian’s albums “Black Utopia” and “Blood of the Snake” in 2003 and 2006, respectively. He released “Unleash the Fury” in 2005. The title of this album came from an incident on an airline flight to Japan in 1988: “He was drunk and behaving obnoxiously, until he fell asleep and was roused by a woman pouring a jug of iced water on him. Enraged, he shouted, ‘You’ve released the fucking fury!’ The audio from this incident was caught on tape by a fellow band member.”
Following the release of “Unleash the Fury,” Malmsteen released a DVD of “Concerto Suite for Electric Guitar and Orchestra,” which he considers his masterpiece. The filming of the DVD marked his first performance in front of a live audience with a full orchestra.
In 2009, he released “Angels of Love,” an all-instrumental album featuring acoustic arrangements of some of his popular songs. “Time” magazine ranked him #9 on its list of the 10 best electric guitar players of all time that same year. He released “Relentless” in November 2010.
On February 3, 2011, Malmsteen made an appearance on “Late Night with Jimmy Fallon,” marking his first television appearance in the United States. Several months later, he performed “The Star-Spangled Banner” before a baseball game between the St. Louis Cardinals and the Florida Marlins. He returned to Sweden in 2012 for a performance. In December 2012, Malmsteen released the album “Spellbound,” and the following year, he released “Relentless,” his official autobiography.
In 2018, Malmsteen signed with Mascot Records, and in 2019, he released “Blue Lightning,” a blues-rock album primarily consisting of covers. His most recent album, “Parabellum,” was released on July 23, 2021. The continued release of his albums has assisted in maintaining Yngwie Malmsteen’s net worth.
Musical Style and Influence
Malmsteen’s neoclassical, highly virtuosic guitar playing has been the hallmark of his albums. While his “shredding” guitar solos became less fashionable in the United States during the 1990s, he maintained popularity in Europe and Asia. His guitar playing style is a crucial element when considering Yngwie Malmsteen’s net worth.
Personal Life
Yngwie Malmsteen has been married three times. His first marriage, to Swedish singer Erika Norberg, lasted from 1991 to 1992. He was then married to Amber Dawn Landin from 1993 to 1998. Since 1999, he has been married to April Malmsteen, and they reside in Miami Shores, Florida, with their son, Antonio.
Earnings and Revenue Streams
While specific figures for Yngwie Malmsteen’s concert revenue are not publicly available, touring has been a consistent part of his career. In addition to album sales and live performances, merchandise sales contribute to Yngwie Malmsteen’s net worth.
