Singer Meat Loaf had a personal fortune of $59 million

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Singer Meat Loaf had a personal fortune of $59 million

It’s one of the biggest selling albums of all time, but late singer Meat Loaf had said he had made next to nothing from the smash hit Bat Out of Hell.

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Born Marvin Lee Aday, Meat Loaf had revealed five years prior to his death that he’d made only “pennies” from the record.

Taking to his social media pages in 2017 to hit out at record company Sony, he claimed they had not paid him or Jim Steinman royalties on the record for decades, the Noise Network reported.

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At the time the rock anthem, which had sold 44 million copies, was about to be reissued.

In a statement, a furious Meat Loaf said: “In June, Sony records in the UK, is trying to release another stupid version of Bat Out Of Hell only for them to make more money.

Singer Meat Loaf had a personal fortune of $59 million

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Meat Loaf – Bat Out of Hell III: The Monster Is Loose. Photo / Getty Images

“For those of you who do not know, Jim and I get no royalties from Bat and never have.

“They admit they have sold 44 million (what have they really sold worldwide). Jim and I have gotten, I am serious, pennies.

“They have screwed me and Jim since 1981. It took us almost 13 years just to get statements.

Singer Meat Loaf had a personal fortune of $59 million

Marvin Lee Aday, better known as Meat Loaf. Photo / Getty Images

“So I am asking all of you to not buy this record, to boycott this release completely. It is nothing but a greedy record company, trying to steal your money.

“Don’t buy, thanks, Meat and Jim.

“P.S. Spend your money and go see a great musical Bat Out Of Hell: The Musical.”

Despite making so little from his biggest hit, and declaring bankruptcy in 1983 after a series of legal battles with record companies, Meat Loaf was reportedly worth $59 million (US$40m) at the time of his death.

Singer Meat Loaf had a personal fortune of $59 million

Meat Loaf circa 1985 during a live concert. Photo / Getty Images

It’s believed most of his personal fortune was amassed through the sale of 12 solo studio albums, along with his worth as an actor.

Meat Loaf had a stellar career spanning six decades, shooting to fame with his powerful, wide-ranging voice.

Singer Meat Loaf had a personal fortune of $59 million

Singer Meat Loaf arrives at the 2013 world premiere in Las Vegas of 20th Century Fox and New Regency's film Runner Runner. Photo / Getty Images

He passed away on Thursday night at the age of 74 with wife Deborah by his side, after being diagnosed with Covid.

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