Jason Newsted Is Financially Secure With Or Without Metallica's 'Black Album'

May 5, 2017

Metallica's self-titled 1991 album, Metallica, or commonly known as "The Black Album", has gone down not only as the band's best-selling album, but also as one of the best-selling rock/metal albums of all time.

Since its 1991 debut, "The Black Album" has sold over 16 million units in the US and 20 million units worldwide. In 2016, Metallica added 267,000 copies to its grand total, which is almost as many as Megadeth's 2016 album Dystopia, and Avenged Sevenfold's 2016 album The Stage put together.

While speaking with Metal Injection, former Metallica bassist Jason Newsted discussed if he would be able to simply retire off of the royalties from Metallica, not even taking into account the royalties from ...And Justice For AllLoad and Reload, which all continue to sell in large numbers to this day.

"Everything you said is correct, as far as the sales of the record is something that’s never been seen before, it’s this thing that won’t go away, and everything we couldn’t ever have predicted, so that’s plain and simple, that’s information for anybody to know or find. But early on, when I joined the band in ’86 and they were already headed up by some very together people. Some very together team of management and other people that handled their business. From day one, even when I was just a hired gun before I started getting a cut — it took five and a half months before I started getting a full cut. So the first five and a half months, I was just a session guy. So by April of ’87, which was… yeah, check THAT s**t out. Thirty years ago this month, I joined as a full member taking a full cut.
So, from that time, the persons that handled them and guided them, also took me under their wing and guided me. OK? And the people that know what goes on with investments. So, when we did what we did and were able to hit what we hit, and hit that stride, and we were able to take it to the people when there were that many 12- to 16-year old male individuals on the planet that we played our metal to and they came and checked out the stuff and we made some bucks and CDs still sold and T-shirts still sold, and we really invested money. That’s all.
It’s cool that the record’s selling and that’s great, but I mostly do things for other people with that money. So […] The Black Album really didn’t have to sell anymore either, because somebody helped me early on in my career."

So there you have it. "Black Album" or no "Black Album," Newsted putting his trust in the right people to handle his money allows him to be retire any moment if he wanted to!

(source: Loudwire)