Judging From Joe Perry’s Net Worth, You’d Never Know The Aerosmith Guitarist Had To Sell His Guitar For Cash

Aerosmith continues to be a bold name in classic rock. The band members are instantly recognizable to music fans and tabloid readers around the world. Yet Aerosmith’s decades-long success hasn’t always made the members financially untouchable. Longtime guitarist Joe Perry has fallen on hard times even as a founding member of the hard-rock juggernaut. At one point he had to sell a beloved guitar because he was short on money. So how come one of rock’s greatest guitarists could be hurting for money, and what is Joe Perry’s net worth today?

Aerosmith guitarist Joe Perry fell on hard times in the early 80s

Perry was a founding member of Aerosmith in 1970. But in 1979 he left the band due to personal issues between him and singer Steven Tyler. The problem came from their wives, who toured with the band. Elisa Perry allegedly threw a glass of milk in the face of Terry Hamilton, wife of bassist Tom Hamilton. The situation led to a big argument between the aggrieved lead guitarist and Tyler.

Fed up, Perry left the band. He took with him all the music he had been working on for Aerosmith’s next album. But the move ended up not being as lucrative as he had hoped. His marriage to Elisa fell apart soon after and the divorce was costly. Cash-strapped, he sold one of his prized guitars in 1980.

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From there, the beautiful 1959 Gibson Les Paul changed hands several times. Vocalist and guitarist Eric Johnson found himself with the beloved instrument. After learning that it once belonged to a desperate Perry, he offered to sell it for $8,000. But the Aerosmith guitarist’s financial problems still loomed and he couldn’t buy it. Johnson sold it, Guitarist reports.

Enter: forward slash. The Guns N’ Roses guitarist ended up owning the sought-after rock ‘n’ roll artifact without knowing its history. But as Perry relayed Conan in 2014, his fellow rocker was behind him. As a surprise for the Aerosmith legend’s 50th anniversary, Slash gifted the storied ax to its original owner.

Joe Perry’s net worth rebounded after joining Aerosmith

Aerosmith guitarist Joe Perry poses backstage with the Les Paul Award at the 2017 NAMM Show | Jesse Grant/Getty Images for NAMM

Joe Perry’s net worth was in the tank for the early part of the 80s. His follow-up to Aerosmith, the Joe Perry Project, was moderately successful. But the group was not enough to fill the financial void left by losing its income from Aerosmith and managing divorce proceedings.

To say that the musician has since recovered from those difficult days would be a huge understatement. In effect, Celebrity Net Worth Joe Perry’s net worth is estimated at $140 million.

Much of this success comes from Aerosmith. The band’s Las Vegas residency draws massive and consistent cash (though it’s been disrupted recently – more on that later). Perry also continued his eponymous band and plays guitar in the Hollywood Vampires supergroup. It may not be a household name, but the group is a big draw thanks to the star power involved. Johnny Depp, Alice Cooper and Perry tend to draw crowds.

Aerosmith prepares for his residency in Las Vegas

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Residences in Las Vegas are generally lucrative deals. Unfortunately for the members of Aerosmith, they have been on the shelf for quite some time. First, the COVID-19 pandemic abruptly canceled the band’s dates for 2020 and much of 2021. Then, a difficult foot surgery recovery for Steven Tyler sparked a relapse after 10 years of sobriety.

According People, the 74-year-old frontman entered rehab in May. He even decided to stay longer than his mandated 30 days. However, the band members will soon be cashing new residency checks for the first time in a long time. Aerosmith is set to return to the Vegas stage on September 14.

RELATED: Aerosmith’s Joe Perry Wasn’t Happy When Steven Tyler Took ‘American Idol’: ‘It’s a Step Above Ninja Turtles’

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