Prince Death Update: Singer Reportedly Had Major Money Problems Before Passing, Shut Down Big Opportunities? [VIDEO]
Despite leaving an estate initially valued in the hundred of millions, Prince reportedly had some serious financial issues before his death.
On Monday, TMZ reported more details about the "Purple Rain" singer, who died last Thursday at the age of 57. Apparently, he had money problems for years and refused to use his music catalog to help generate income.
A lot of artists make money by selling the rights to or licencing their work, but Prince apparently didn't want to do any of that and shut down business opportunities that could have earned him serious cash. Some of these opportunities included allowing his music to be used in shows, movies and commercials, but he reportedly refused almost all of them.
According to TMZ's sources, Prince's primary method of income was through his concerts, but even that had its own share of troubles. The sources told the site that the singer was impulsive with his performances and would do them whenever he felt like it with no planning nor promotions. Unfortunately, these shows wouldn't always do too well and end up costing him money in the end.
Along with a lack of secure income, the report also claims that Prince would spend more money than he made, causing even more financial strain.
But money wasn't the only problem in Prince's life--according to the Daily Mail, a drug dealer claims that the music legend had an addiction to opiates for over 25 years.
Going by the name "Doctor D," the dealer told the British tabloid that Prince was addicted before they met, that he would use the drugs to get over his stage fright and "would spend up to $40,000 a time on six-month supplies of Dilaudid pills and Fentanyl patches."
"I first met Prince in 1984 when he was filming the movie Purple Rain and he was already majorly addicted to opiates," he said. "I didn't hook him on drugs and he was already a really heavy user. In the beginning he would by speed as well as Dilaudid. I would sell him Black Beauties which were a black pill and Cross Tops which were also speed pills."
