Originally Posted by
Terry
A few years after Hendrix died, his father got a settlement for $400k, which was at the time reportedly the net worth of Jimi Hendrix's estate when he died. That figure was said by others to only be representative of what Hendrix earned on his last tour of Europe. There were other stories that Hendrix's publishing was held by a consortium of business entities located in the Bahamas, but when Hendrix's father's lawyers tried to get an accounting of the total value of the publishing it was then discovered that the various accounts were empty, having been depleted to settle various pending lawsuits against Hendrix and record advances that had been withdrawn while Hendrix was alive (to pay for the construction of Electric Ladyland studios, etc.).
Not much different from Elvis Presley in the respect that both spent their money as quick as they could make it: Elvis was worth less than a million in liquidity when he died, which is the only reason he agreed to have two 1977 concerts filmed for broadcast (and were after he died) when he was at his most bloated...in that after all those years Elvis needed the money. Same reason why Hendrix went back on the road in the spring of 1970 after having only played a few paying gigs after Woodstock, in that Hendrix hadn't had a new album out in a year and a half at that point and hadn't been playing paid gigs with any regularity since June of 1969: Jimi needed money.