Sammy Hagar is an American rock singer and entrepreneur who has a net worth of $150 million as of January 2024. Hagar is known for his multi-decade music career and association with Van Halen, a band credited with restoring rock to the forefront of the music scene.
Early Life and Music Career
Hagar was born in Salinas, California, on October 13, 1947. He started his first band, the Fabulous Castilles, when he was 14 years old. He later joined the Johnny Fortune Band and the Justice Brothers before getting his big break with the band Montrose in 1973. He wrote his first-ever song, “Bad Motor Scooter,” for Montrose.
Hagar began his solo career after quitting Montrose. He had one of the biggest hits of his solo career in the 1980s, with “I Can’t Drive 55,” from his 1984 album “VOA.” He became known as the Red Rocker during this time.
In July 1985, Eddie Van Halen reached out to Hagar to fill the opening David Lee Roth’s departure from Van Halen had created. Hagar worked with Van Halen from 1985 to 1996 and then again from 2003 to 2005. He contributed to the band’s hit songs such as 5150, Love Walks In, Dreams, Good Enough, Right Now, Judgement Day, Man On A Mission, Can’t Stop Lovin’ You, Aftershock, Not Enough, and many more.
Business Ventures and Tequila Empire
Hagar’s business acumen is highlighted by his successful Cabo Wabo tequila which contributed significantly to his wealth. Hagar started selling his own brand of tequila named “Cabo Wabo” after a bar he bought in Cabo San Lucas, Mexico in the 1980s. Over the years, his bar and tequila became very popular not just with locals, but with global distributors.
In 2007, Hagar sold 80% of the Cabo Wabo tequila company to Gruppo Campari for $80 million. In 2009 he sold the remaining 20% for an additional $15 million. The company was majority-owned by Hagar which means he personally took home around $95 million from the deals.
Hagar also co-owns a tequila company called Santo Tequila with Guy Fieri and a rum company called Beach Bar Rum. He has also written two autobiographies, “Red: My Uncensored Life in Rock” and “Are We Having Any Fun Yet?: The Cooking & Partying Handbook.”
Conclusion
Sammy Hagar is a rock legend and a savvy businessman who has amassed a fortune of $150 million. He has achieved success in both music and entrepreneurship, and has shown no signs of slowing down. He is an inspiration for aspiring rockers and tequila lovers alike.