Sax hero Kenny G has been recently ordered to pay more than $300,000 worth of his ex-wife’s legal fees in a dispute over spousal support, according to a recent report in The Blast. Kenny and his ex-wife Lyndie Benson divorced back in 2013. The musician recently took to his ex to court hoping to get his current $40,000 monthly spousal support obligation reduced.
In his filing, Kenny G makes the case that he needs a reduction in the spousal support obligation because his earning power isn’t quite what it used to be. Here’s Kenny’s statement from the filing:
“Since approximately 2018, even before the covid pandemic, my income has substantially declined because l have not had as many touring opportunities as l used to have. And, when there are touring opportunities, the guarantees to me from each tour are becoming less and less. Historically, when l tour, the contract guarantees me a certain income from the tour. This guarantee percentage has gradually been reduced. Moreover, l am now 65 years old. Even when presented with touring opportunities, l am less inclined to take them at this age.”
Kenny further states that in the decade since they’ve parted ways, he’s paid Benson $3,920,000 in spousal support PLUS $360,000 in child support. His child support obligation ended in 2015, presumably when the youngest of their children turned 18.
Kenny also claims that his ex “was awarded very substantial assets and funds” in the divorce itself. Unfortunately for the sax master, the couple did have a prenuptial agreement when they were married in 1992, so a reduction in his monthly support payments may not be forthcoming.
As for why he has to pay his ex-wife’s legal fees, it’s law in California when one half of a divorced couple is worth significantly more financially than the other. And the judge’s ruling also says he’ll have to pay at least another $75,000 before the dispute is straightened out. With Kenny G being represented by famed divorce attorney Laura Wasser and Benson taking on the legal services of the also famed Samantha Spector, those legal fees have a way of piling up.
But here’s the real nugget that was was revealed in Kenny’s filings:
While Kenny’s touring income has apparently been reduced, his rental property income is still quite substantial. How substantial?
Kenny’s disclosure reveal that the musician makes a whopping…
$600,000 PER MONTH
In rental income!
It’s not clear how many properties or what types of properties are generating that income. We do know a little about his personal real estate imprint. Out in Malibu, Kenny owns a multi-home compound overlooking the ocean. He acquired the first parcel of what became his compound in 1997 for $12.5 million. He eventually bought several neighboring parcels including the mansion right next door which he razed and replaced with a music studio.
What kind of property portfolio would generate $600,000 in monthly rental income? Does Kenny G own 60 properties renting for an average of $10k per month? Does he own six properties renting for an average $100k? We really have no way of knowing. What we do know is that Kenny G is famous for being a shrewd businessman. In addition to selling 75 million albums worldwide to date, Kenny is a famously brilliant stock picker. According to legend, just as Kenny’s career was taking off, so was a local coffee chain in his native Seattle. Kenny’s uncle was an early investor in the coffee chain, which was called…
In interviews over the years Kenny has confirmed that he invested in Starbucks in the mid-1980s, before the company went public and has never sold any of his shares. FYI, $1,000 invested in Starbucks in 1992 when the company went public would be worth around $300,000 today.
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