Gift AdahWhen you think of Bing Crosby, you probably think of Christmas. You might hear his voice singing “White Christmas” in your head. It is the best-selling song of all time! But Bing was much more than just a singer. He was one of the smartest businessmen to ever live in Hollywood. He wasn’t just a star; he was a boss.
In this article, we will look at how Bing Crosby lived, how he made a huge fortune, and how he died on a golf course in Spain. We will also talk about his “Data Pillars.” These are the three ways he built his wealth: Royalties, Equity, and ROI.
A Quick Look at Bing’s Life
Bing was born in 1903 in Washington state. He actually studied law in college! But he loved music too much to be a lawyer. He quit school just two months before he was supposed to finish. He moved to Los Angeles to try to be a singer.
He became an Artist and an Entrepreneur.
- Artist: Someone who makes art, like music or movies, for a living.
- Entrepreneur: Someone who starts and runs their own businesses.
Bing was the first “multimedia” star. This means he was a huge deal in three different areas:
- Radio: He had a show that 50 million people listened to every week!
- Movies: He was one of the biggest actors in the world for over 20 years.
- Records: He sold hundreds of millions of albums.
How Bing Crosby Died: The Final Round of Golf
Bing died on October 14, 1977. He was 74 years old. He was in Spain at the time. He wasn’t there for a concert or a movie. He was there to do what he loved most: play golf.
Bing was a very good golfer. That day, he played 18 holes at a course called La Moraleja. He and his partner actually won the game! Bing even won a small bet of $10.
As he was walking away from the game, he turned to his friends. His last words were: “That was a great game of golf, fellas. Let’s go have a Coca-Cola.” Moments later, he fell down outside the clubhouse. He had a massive heart attack.
What is a heart attack?
A heart attack is when the heart suddenly stops getting enough blood and cannot pump anymore.
Back in 1977, doctors didn’t have the same medicine we have now. Today, we have better pills for blood pressure and heart health. Bing also smoked and drank alcohol for many years, which is hard on the heart. He died doing exactly what he loved, which many people think is a peaceful way to go.
The Money Breakdown: How Bing Built His Millions
Bing was worth about $60 million when he died in 1977. If you calculate that in today’s money, it would be hundreds of millions! He didn’t get this rich just by singing. He was a master of the “Data Pillars.”
Pillar 1: Royalties (The Gift That Keeps Giving)
Bing was a king of Royalties.
What are Royalties?
Royalties are payments you get every time someone buys or uses your work. It’s like getting a small check every time your song plays on the radio.
- White Christmas: This one song has sold over 50 million copies! Every single year, when people play it at Christmas, Bing’s estate gets paid.
- 1,600 Songs: Bing recorded over 1,600 songs in his life. Most singers only have a few hits. Bing had hundreds.
- 70 Movies: He also got paid royalties for his movies. Films like High Society and The Bells of St. Mary’s were still making him money in the 1970s.
Pillar 2: Equity (Owning the Business)
This is where Bing was really smart. He loved Equity.
What is Equity?
Equity means you own a piece of a company. Instead of just getting a paycheck for a job, you own part of the business itself.
Bing used his fame to get equity in companies he liked. Here are two big examples:
The Minute Maid Story
In 1948, a company called Minute Maid wanted Bing to sell their frozen orange juice. Most stars would have asked for a flat fee (a one-time payment). Bing did something different. He asked for 20,000 shares of the company. He bought them for only 10 cents each! He also became a director of the company.
Because he talked about the juice on his radio show every day, people started buying it like crazy. The company’s sales went from $3 million to $12 million in just one year. Eventually, Minute Maid was bought by Coca-Cola. Bing’s little 10-cent shares became worth a fortune!
The Ampex Revolution
Bing loved golf and didn’t want to do his radio show live every week. He wanted to record it so he could go play golf instead. Back then, recordings sounded terrible. Then he saw a new machine that used “magnetic tape.”
Bing invested $50,000 in a tiny company called Ampex to help them build these machines.
- The Result: Ampex became a giant company.
- The Change: Because of Bing’s money, we got tape recorders, then videotapes, and eventually multitrack recording (which lets musicians record different parts of a song separately).
Pillar 3: ROI (The Best Way to Measure Success)
Bing was obsessed with a good ROI.
What is ROI?
ROI stands for Return on Investment. It is a way to see how much money you made compared to how much you spent. If you spend $1 and get $10 back, you have a great ROI.
Let’s look at his Minute Maid investment again:
- What he spent: $2,000 (for 20,000 shares).
- What it was worth 18 months later: $293,000.
- The ROI: 14,650%! This is an incredible return. Most people are happy with a 10% return. Bing got over 14,000%.
| Bing’s Wealth Strategy | Why it Worked |
| Diverse Income | He had money coming from music, movies, juice, and tech. |
| Smart Endorsements | He didn’t just take a check; he took ownership (Equity). |
| Investing in Tools | He invested in tech (like tape) that helped his own career. |
| Owning Sports Teams | He owned part of the Pittsburgh Pirates baseball team for 30 years. |
The “65-Year Rule” for His Kids
Bing was a very strict father. He wanted his children to work hard. He didn’t want them to just be “rich kids” who spent all his money.
He set up a special trust fund for his seven children.
What is a Trust Fund?
A trust fund is a bucket of money held by a bank or a lawyer. It has rules about when someone can have the money inside.
Bing’s rule was very famous and very strange: His kids could not touch their inheritance until they turned 65 years old! His son Philip said his dad thought they would be too old to get into “trouble” by then. Sadly, some of his sons died before they ever got the money.
Bing’s Legacy Today
In 2021, Bing’s family made a huge deal. They sold a part of his estate to a company called Primary Wave Music.
- The Price: Over $50 million.
- The Goal: The company wants to make Bing famous with young people. They want his music to be on TikTok and Spotify playlists, not just on old radio stations.
Even 45+ years after his death, Bing Crosby is still making more money than most living people. That is the power of a career built on Royalties and Equity.
Lessons for Regular People
You don’t have to be a movie star to follow Bing’s path. Here are three simple lessons:
- Invest in what you know. Bing knew music and radio, so he invested in tape recorders.
- Look for ownership. If you start a side hustle, try to own the “brand” or the website, not just work for someone else.
- Think long-term. Bing didn’t care about a quick paycheck. He cared about money that would last for his whole life (and after!).
Sources & References
- https://www.biography.com/musicians/bing-crosby
- (https://en.wikipedia.org/wiki/Bing_Crosby)
- https://www.pbs.org/wnet/americanmasters/bing-crosby-the-bing-crosby-story/3503/
- https://time.com/archive/6601711/corporations-minute-maids-man/
- https://www.thelist.com/462648/bing-crosbys-net-worth-at-the-time-of-his-death-may-surprise-you/
- https://www.grunge.com/924278/heres-who-inherited-these-pop-star-fortunes-after-they-passed-away/
- https://www.musicbusinessworldwide.com/primary-wave-buys-stake-in-bing-crosby-estate-for-more-than-50m-report/
- https://walkoffame.com/bing-crosby/
- https://www.reddit.com/r/todayilearned/comments/uy7wbj/til_singer_and_entertainer_bing_crosby_was_a/
Gift Adah
