Following a string of “bad business deals,” Kevin Jonas revealed that he almost went bust.
During this week’s interview on The School of Greatness podcast alongside his brothers Nick and Joe Jonas, the oldest sibling recalled how he nearly lost his entire fortune in 2013 when the Jonas Brothers went on hiatus in 2013.
“I’ve seen the beginning of the success to financial success – not knowing what money really was and understanding it – to not having (it), to losing almost all of it.” When asked by the show’s host “You almost lost all your money?, the 37-year-old replied “Yeah, most of it, like, down to the one 10 per cent left,” adding that he had “invested in a bunch of property” around nine years ago but it “wasn’t the right partnership.”
Not his first financial foray outside the music space, the guitarist formed a real estate development company, JonasWerner, and invested in the food app Yood and tech startup, We Hear It.
Due to potential legal action, the father-of-two could not speak about the deals in detail, though he insisted “I learned this lesson – never wanted to learn it – but I did.” “But then, at the same time, reevaluated how to approach life and, from that perspective, and (to) look into the future. At the same time, I was able to really feel honored that we could have a second shot at it.”
The Jonas Brothers reunited in 2019 and dropped their fifth studio album, Happiness Begins, a short time later, and are currently promoting their seventh studio album, Greetings from Your Hometown, which will drop on August 8.
Keep up with the latest trending music news by following us on Facebook, Twitter, and Instagram
Author: Al Denté
Photo: Samborowski