Stepping away from his musical career, Sting is launching a new venture into the world of alcohol sales.
Taking cues from one of his iconic songs from the 1980s, this brand will offer customers an array of wine, cider, spirits, and more.
As the front man of the iconic new wave rock band the Police from 1977 to 1986, and after venturing into wine production by buying a vineyard in Italy, Sting has now decided to expand his business interests even further.
Steerpike Limited, which provides support activities for performing arts, will now be used to channel alcohol trading.
Sting has decided to launch a business venture with the iconic name of his 1981 song, "Every Little Thing She Does Is Magic."
As reported by The Sun, this company will be selling a wide variety of alcoholic beverages, including wines, liqueurs, brandy, cider, cocktails, gin, kirsch, rum, sake vodka, and whisky.
It comes as no surprise that Sting's latest venture will certainly add to his already vast wealth.
In 2019 it was made known that his revenues from selling his catalog of music amounted to a daily income of over $256,000.
Universal recently purchased Sting's back catalog, which notably has "Every Breath You Take," "Roxanne," and "Fields of Gold."
According to a Mirror report last year, this large sale may have been lucrative initially but it could result in decreased royalty income for Sting in time.
As detailed in his strategic review document, during this year it was announced that all rights to his music catalog were sold to Songs of Universal.
As a result, there is a potential for future income from royalties to decline significantly.
In a recent report for 2020, Sting's business venture recorded an extraordinary $136 million in turnover, with $31 million as pre-tax profits and an impressive salary of $90,871 made payable to him. Over two years, his company earned more than $120 million thanks to their success in wine production, food distribution, and food production.
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Sting Net Worth 2023
Sting is a renowned musician and actor hailing from England.
He first gained fame as the lead singer of the wave rock band, The Police, from 1977 to 1984. Following his departure, he launched a successful solo career that incorporated various genres such as classical, new-age, rock, reggae, jazz, and worldbeat into his music.
As of July 2023, Wealthy Gorilla estimated that Sting's net worth is roughly $550 Million.
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