Prince Hoarded Cash, Owned 67 10-Ounce Gold Bars When He Died; Avoided Stocks And Bonds

Tyler Durden's picture

Prince was a legendary musician; he may also have been a cash hoarding gold bug who had little faith in the merits of conventional investing.

According to an inventory report of the musician's estate at the time of his death from a drug overdose on April 21, 2016 first reported by the Star Tribune, Prince had acquired tens of millions of dollars in real estate, cars (lots of cars) and other personal property during his illustrious career. His assets have been valued between $100 million and $300 million before taxes, which are expected to claim roughly half.

The asset inventory compiled by Bremer Trust, the special administrator shepherding Prince’s estate, lists a dozen properties in Carver and Hennepin counties with an estimated total value of $25.4 million.

The inventory also lists about $110,000 in four bank accounts including $55,666 and 23 cents in "miscellaneous cash" and $25,273.10 in unclaimed property.

Additionally, Prince’s companies, Paisley Park Enterprises Inc., NPG Records Inc., NPG Music Publishing and LotusFlowr had more than $6 million in cash on hand at the time of his death. The report notes that NPG Records has an estimated $6.8 million in arbitration receivable.

There also are plenty of items that haven’t been assigned a value yet, including musical instruments, his jewelry collection, household furnishings, a 2006 Bentley and the iconic “Purple Rain” and “Graffiti Bridge” motorcycles.

However, perhaps most interesting, is that Prince also owned some 67 10-ounce gold bars classified as "Other Personal Property" and valued at nearly $836,166.70. The report does not disclose the cost basis, or when he bought the precious metal.

As for his holdings of traditional investments, such as "stocks, bonds, and other securities" let's just say that Prince saw more value in owning cars than equities, and as such the total value of his securities holdings was $0.00 at the time of death.

It remains unclear who will end up owning the assets of Prince who passed away without leaving a will: as the Star Tribune adds, dozens of claims have emerged over the past several months. Filings and judicial orders thus far make it appear likely that the fortune will be divvied up among sister Tyka Nelson and Prince’s half-siblings Sharon Nelson, Norrine Nelson, John Nelson, Omarr Baker and Alfred Jackson. There are also a number of unresolved issues related to Prince’s businesses, including pending lawsuits that could affect the value of the estate.

The full inventory report of Prince's assets is listed below (link)

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hedgeless_horseman's picture

The report does not disclose the cost basis, or when he bought the precious metal.


hedgeless_horseman's E-Z Internet Guide On How To Actually Buy Gold, and Not Just Talk About It, Bitchezzz!!!!

"There are usually no transaction receipts or records of any kind for these exchanges, and so it is up to the individual taxpayer to track his own capital gains and losses, be that as it may."


walküre's picture

What? No "little red Corvette" ? Wondering how much the collection of pirate shirts is worth. Not to mention the plateau boots.

The first table doesn't show "numbers in '000"... so how do we know this is millions and not just thousands?

Anyway, RIP one of the greatest musicians ever lived in my lifetime and made my dates more memorable.

hedgeless_horseman's picture

As for his holdings of traditional investments, such as "stocks, bonds, and other securities" let's just say that Prince saw more value in owning cars than equities, and as such the total value of his securities holdings was $0.00 at the time of death.

My brother!

"Building wealth should be fun!  I don't need to waste my life listening to horseshit narratives about the latest stock offering, reading bond offerings, checking the NAV of mutual funds, or worrying that my account is going to be Corzined.  I don't have to help pay the mortgage of some portfolio manager.    I can sleep at night, because the value of gold coins has NEVER gone to zero.  I can practice disintermediation. "

BaBaBouy's picture

If He's worth up to $300M, 670 ozs of GOLD is minimal.

Like .3%

Conservative GOLD holdings are usually at 5% ...

On another note, I thing the FED will want those 670 PHYS GOLD Ozs...

PT's picture

Yeah, my first thought was they reported he had 670 oz.

But that's just me.  I'm a little cynical that way.

Joe Davola's picture

People with his talent and abilities know that their best investment is themselves.

Yes We Can. But Lets Not.'s picture

Time to do some metal detecting along Galpin Blvd in Chanhassen, MN?

BullyDog's picture

The artist formerly known as @asleep woke up long before many did.


Always liked this guy before and after.  

TalkToLind's picture

Time to do some metal detecting along Galpin Blvd in Chanhassen, MN?

He was rather fond of Lake Minnetonka, I'd start there.

sonoramic commando's picture

It doesn't show any boat as an asset, maybe he lost it in a boating accident in lake Minnetonka?

Dental Floss Tycoon's picture



It used to be a compliment to be called a saver.  Now savers are maligned with the pejorative horder.  



cyberfossil's picture

Yes, correct.  These abject "hoarders" must die.  I am labelled that in my family--the crazy one who likes gold, silver and detests the equity lottery after getting burned by Lehman Bros and that whole period.  Prince knew too much so "they" had to sacrifice him.  Apparently Michael was also onto them and it was bad for his health too--his sister mentioned later at court that he was killed not by the doctor but by "them":

cyberfossil's picture

LaToya describing why MJ died:

Fed agent talks about why "they" had to off Michael

So Prince was a little paranoid too before he passed away--a little extra medication can take care of that problem--forever.  And with no family nearby, who is going to know if he slips up and OD's on the pills?  Happens every day, right? Hope that wasn't the case but we will never know.  He should have stayed in the stock market and not taken the red pill.

RIP Prince and MJ=unmatched talent.

TVP's picture

Sad but true.  It's always suspicious when a high-profile red-pill person dies unexpectedly.  Always seems to be a massive overdose, suicided, or epic car wreck.

Looking back, whenever a mass-awakening begins to happen, all the sudden key conscious people wind up getting offed.  Look at all the musicians and human rights activists of the 1960s.  They're always good people who want to help, want to spread truth.  More recently, you have Michael Hastings, Paul Walker, the artist formerly known as Prince, former FBI chief Ted Gunderson, just to name a few.  Strange common denominator between prince/gunderson - they both went on record disclosing geoengineering/chemtrails.  

The thing about taking the red pill is just this...

Neo - "I can't go back, can I?"

Morpheus - "No.  But if you could, would you really want to?"   



abyssinian's picture

What He doesn't believe in paper money and own gold bars? Was he on drugs? hmmm

Casey Jones's picture

Did you read it? He had at least 6 million in cash.

sunnyside's picture

And it appears no debt. Smart man.  Most these guys may live in  a mansion, but it is mortgaged to the hilt and personal loans for the lifestyle too.

fockewulf190's picture

Some house walls may sound a bit hollow.

fx's picture

Marketing himself as a prince, he liked gold, of course. And why care about "investing", especially for the long run? Given his lifestyle, he was gonna die g long before anyway.

Draybin Deffercon III's picture
Draybin Deffercon III (not verified) Joe Davola Jan 9, 2017 11:24 AM

As an asides... Prince will be the last of his type and generation to make millions of "dollars" performing, selling music and royalties.

Do you know why? Because of Bittorrent, because of P2P technology. It's not like any of the status quo "allowed" Bittorrent to exist. Bittorrent exists because people want it to exist, because it is free for anyone to use and serves a purpose. And the power establishment did fight tooth and nail against Torrent technology... and they lost... badly.

sleigher's picture

Back in the 90's when mp3's and napster came along, the music industry had a golden opportunity to embrace a new technology.  They could have used it for distribution and help to mold the new market place.  Instead they defended an aging/failing business model and the world went on without them.  It is their own fault the industry is what it is today.  They did it to themselves.

BC6's picture

Indeed, did it to themselves - shot themselves in the head, but only once, not twice like most deaths reported on ZH. Apple/Jobs came in and then created the ecosystem for distribution. 

DaveyJones's picture

So "when doves cry" was written for the Necons?

groaner's picture
groaner (not verified) walküre Jan 9, 2017 11:37 AM

the best thing about Prince was he became a Jehovah's Witness. Almost an impossible task coming from that type of industry and world.

He amazes me how good he really was as musician.. I didnt care for a lot of his music but he was a genious with the guitar. Check out this solo.

go to about 3:30 in..

BarkingCat's picture

Genious with the guitar?

Are you serious??

He was performing at the same time as the likes of Steve Vai, Yngwie Malmsteem, Reb Beach and Joe Satriani who all made his look like a 3rd rate amateur.


Not to mention that he was tripping my gaydar at 11.

mc225's picture

prince was definitely a cool guitar player.

for pure musicianship though; check out the bass line from 'lady cab driver'.


check out that entire '1999' double-album. brilliant. no, he doesn't play guitar like paul gilbert, but prince did release a lot of cool music. i have to admit though that i stopped following his output in around 1993; but from what is written about him, prince continued to release a lot of albums. sometimes he would drop 4 or 5 albums on the public at the same time.

prince was definitely eccentric, and kind of an anachronism regarding streaming technologies and such; but he was definitely a musician. for example, he could hear the drum part for a 5 minute song, every nuance of the ebb/flow push/pull; every drum or cymbal hit; all in his head and know exactly how it should be played.

one interesting thing is that, there seems to be a dichotomy between prince and michael jackson. it often seems that people really like one, but not the other. 

anyway, i really liked prince's early albums; and his interviews were different ('there were 12 presidents before george washington'). he was an incredible stage performer. 

whether that merits being paid half a billion dollars is another discussion, but prince could definitely put on a show.

prince was tripping my 'am-i-straight-or-am-i-gay-darr'...

Freddie's picture

Considering he was a nobody kid with no money who played on all the instruments and essentially delivered a completed album from his bedroom to Warner Brothers. I know some very good guitarists and they said Prince was pretty good.  I could also name loads of guys better than your list from the 1970s/1980s.

PRince fought the evil music industry and talked about the Illuminati a lot.  A bit odd but supposedly a nice guy.  I was not a fan but there is a high probablity he was killed.   He was pretty hip about the evil forces out there.  My guess is he read ZH or would fit right in here. 

therover's picture

Sat man the best of the bunch you mention. Taught Vai as well.

Prince much better musican/songwriter/singer. 

Don't get me the Sat man. Have all his compilations. If I Could Fly may have one of my favorite all time melodic guitar solos in any song I ever heard (55 year old rocker who's seen tons of bands back in the early 70's-80's). Motorcycle Driver amps me up everytime I put it on.

Prince may not have had the chops of those guys, but was still amazing at what he did. 

dark pools of soros's picture

Malmsteem is garbage, all tech with no soul at all.   Name a fucking song anyone knows that he created

Eddie Van Halen is better than all four of those guys you listed put together.  Kirk Hammet as well eats all those guys up.


The guys you mentioned are trying to make a guitar be a keyboard..  who cares!!



MsCreant's picture

He really was stunning on guitar, that was not widely appreciated. He has made several lists of "greatest of all time guitarists."

On the gaydar, I'd go sexdar, like a trisexual, as in "try anything sexual." But I am not even sure about that. 

He was small, flashy, and wore heels to compensate for 5-3" height. His hips gave out on him because of his heels and dance style. Thus the pain killers. Thus the drug dependence. He paid for his fame and money, ultimately. 

He had beautiful women around him, in bed with him, so gay is just too narrow. He lost a son shortly after he was born in 1996. 

It's okay to be gay. Just too narrow a descriptor for this guy. Never saw him flaunting men, only women. Not my type, but if I don't think about his height (I like em big, I don't want to break em) he was nice to look at, perfectly formed lil guy.

Stoonod Nicknud's picture

It's a good thing he took his beliefs to heart and gave up drugs.

I bet he had a hard time getting that AU into that little slot in the contribution box.

Pig Circus's picture

I took a date to Harriet Island one Sunday afternoon and we saw Dr. Mombo's Combo. They use to play every Monday night at the Bunker in Mpls. About once a month we would go to see them. Every time Price would show up in his Purple Caddilac and play a set. I was never much of a fan but man could he play. Each time was a different instrument and he would just hammer the shit out of it. She was in such awe that I provided for such a special night I was then able to hammer her.

Thank You Prince I still owe you.

Chris Dakota's picture
Chris Dakota (not verified) hedgeless_horseman Jan 9, 2017 11:08 AM

What was Prince's handle on ZH?

Zero-Hegemon's picture

"The Avatar Formerly Known as..."

A brilliant musician

ShrNfr's picture

The dead have no cost basis. Because of the step up (or step down) what he paid for any of this shit is besides the point. All that matters is what it is worth now.

hedgeless_horseman's picture

Too bad for the beneficiaries of his will that this gold was on a balance sheet, instead of in a hole in the ground.

The Estate Tax is a mother-fucker, 40% in 2016. And that comes after he already paid income tax (probably close to 40%) when he made that money.

BabaLooey's picture

Exactly H.H.

The best place to store gold is "no where"...............


2_legs_bahhhhhd's picture

Who knows, he could have had a few thousand ounces stashed on all that land. That said, he disclosed almost 10 times more gold than the Canadian government holds.....but then again, you don't need to be all that bright to outsmart 50 years of progressive commies.

Kirk2NCC1701's picture

Given his estimated Gross Worth of $100-300M, having  $6M in cash and $1M in gold is not unreasonable in Asset Allocation.

Clearly his CFP advised him well, insofar he put his Revenue Streams (his own skills as a Performer / Entertainer and his Royalty income) into "wealth preserving" assets: Quality RE and some PM, along with Cash.

The latter two (cash and PM) are perfect vehicles for a "Financial Doomsday", where someone is out to screw you; a former biz partner, an Ex and their lawyer, a litigation happy asshole, etc.

flyingcaveman's picture

3-6 months of expenses or half your body weight in precious metals.


Fuckin' A, the man was a Zero Hedge Bitchez Brigade Member !

Purple Rain, Purple Rain.

Wish he had kept it together along with Jimi Hendrix.

Just the idea of those two jamming together gets my rock 'n roll all fired up something fierce.

Hope they are doing that somewhere, cutting a couple alblums, man.


Darktarra's picture

As smart as he was musically talented!   Nice to see! 

Chupacabra-322's picture

Smart? The man was a Legend & Musical Genius. Let's just say Prince was "Illuminated" to the Criminal Fiat Central Banking Fraud of Debt, Bondage, Control & Enslavmement.

I'd say he woke woke up around the time he would perform on stage with the word "Slave" written on his face. He was hip to the "Strawman" & the Criminal Fraud entity aka THE UNITED STATES, CORP. INC.

King Tut's picture
King Tut (not verified) Chupacabra-322 Jan 9, 2017 10:53 AM

Prince knew that the same Tribe of con artists run both the music industry and financial services industry