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Duff McKagan Talks Band Accounting and The Simpsons

Duff McKagan Talks Band Accounting and The Simpsons

Guns N' Roses and Velvet Revolver bassist Duff McKagan was so well known for his alcohol consumption back in the late 1980s that the creators of The Simpsons named the beer featured in the antimated series Duff Beer in honor of him.

McKagan was not very business savvy and he knows it now.  He tells The Independent, "I knew nothing about branding yourself then or the royalties off it. I just thought cool, they wanna use my name and boom, The Simpsons was born. Yeah, if I had a nickel for every time… but it's fine."

Duff's partying days caught up to him in 1994 when his pancreas ruptured.  Doctors told him that he could die if he had another drink of alcohol.  While being forced to take time off, McKagan decided to his personal taxes and Guns N' Roses' taxes in order.  He trusted nobody to do for it him, so he decided to take a class on the subject.

Now, Duff McKagan has been sober for 18 years and is considered an expert on the economics of the music industry.  He writes a column called Duffonomics for Playboy in which he gives musicians financial advice.

The bassist is still playing music.  He left Guns N' Roses in 1998, but joined some former members of the band in Velvet Revolver.  Recently, he joined another supergroup called Walking Papers.

 

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