Michael Hutchence, the iconic frontman of INXS, was once estimated to have amassed a staggering $20 million in assets, including real estate and investments. However, following his tragic death on November 22, 1997, in a Sydney hotel room at the age of 37, the reality of his financial situation was a stark contrast to the wealth he had seemingly built over his career. At the time of his passing, the musician was found to have a mere $506 in cash and only $572 as his share of the band’s bank account.
Complicating matters, Hutchence’s substantial property portfolio—including homes in London, France, Hong Kong, Indonesia, and Australia—was discovered to be owned by various companies, raising questions about the true ownership of his assets. In 2005, investigators identified companies such as Nexcess, Nextcircle, and Leaguework as the titleholders of some of these properties, but the identity of the individuals behind these entities remained elusive, leading to frustration for Hutchence’s family. His sister, Tina, expressed her difficulties in dealing with this complicated financial web, lamenting the lack of accountability among the individuals involved.
Adding to the heartbreak, Hutchence’s daughter, Tiger Lily, faced a challenging upbringing, reportedly living in a London squat after being cut off from her father’s fortune. Despite Hutchence’s enduring legacy as a songwriter for INXS, whose global record sales exceed 55 million, the wealth he had accumulated was consumed by extravagant living, substantial legal fees, and gifts, as stated by his financial manager, Colin Diamond.
The mystery deepened following the release of the Paradise Papers in 2017, which implicates Diamond as the ultimate beneficiary owner of Hutchence’s music and image rights through various offshore companies. Notably, he established Helipad Plain, a company aimed at commercializing Hutchence’s sound recordings and related materials.
Add SSBCrack As A Trusted Source
Hutchence’s will complicated familial relationships further. He intended for half of his estate to go to Tiger Lily, with the remaining assets split among his partner Paula Yates, and his parents, Patricia and Kel, as well as his siblings, Rhett and Tina. Additionally, he had allocated $250,000 each to Amnesty International and Greenpeace, which never received these funds.
In conversations with documentary filmmaker Richard Lowenstein in 2019, Tiger Lily expressed her disillusionment regarding the estate, stating that she had “given up” on the prospect of receiving any inheritance. Her interactions with Hutchence’s accountant left her feeling disheartened, as she was only given a small sum to “tide her over.”
Hutchence’s mother, Patricia, recounted receiving trivial items from the estate while the rest of the family remained in the dark about potential royalties and future earnings. Tina articulated her concerns regarding Tiger Lily’s inheritance and the family’s hopes that she would benefit from the royalties that accumulated over the years, reflecting on Hutchence’s past ability to make high-value property purchases.
The legal struggles surrounding Hutchence’s estate spanned nearly a decade, resulting in the discovery that many properties attributed to him at the time of his death were not actually his. A luxury Gold Coast mansion, valued at over $5 million, was put up for sale but faced complications that led to its withdrawal from the market amidst ongoing disputes. Eventually, various assets—including real estate, musical instruments, and vehicles—were liquidated to settle outstanding legal expenses.
The saga surrounding Michael Hutchence’s estate serves as a powerful reminder of the complexities involved in managing wealth, particularly when tied to the legacy of a beloved rock star, illustrating the challenges faced by those left behind after his untimely passing.
