Lorraine McBride talks to Rick Wakeman about his career.
Has there ever been a time when you worried how you were going to pay the bills?
Yes, there have always been times like that. In the late Sixties, when I played at the Top Rank ballroom, being an organist meant carting my organ around to sessions, which cost two thirds of my earnings, on top of running a car, which was when I learnt the word “expenses”.
My rent cost £8 a week and I can remember being really short. In 1970, I was up in London looking for session work and Marc Bolan who was a great mate, gave me a session for Get It On. All I had to do was a glissando on the piano. I said to him afterwards, “You could have done that,” and he replied, “Well, you want your rent money don’t you?” Tough times, but when I joined Yes, I went from £18 a week to £50 a week.
Yes made a fortune, what did you spend it on?
We were all told to go out and buy a nice house, which was an eye-opener because I’d only known a two-up, two-down and a Ford Anglia. Suddenly we were talking five-bed, des-res. I remember looking around one house for sale in Gerrards Cross and the lady said, “This is the breakfast room.” I said: “What, just for breakfast?” because it was just a different world.
Lots of rock stars get ripped off, did you learn any tough lessons?
Yes, everybody in the business did. One thing you start to learn, usually too late, is that being top of the tree doesn’t last forever. You drop down a few branches and find your position but you set yourself a lifestyle that requires “top of the tree” earnings to pay for it. Then of course, you have the unexpected events like a divorce of which I’ve had three.
Suddenly you grow up very quickly and certainly when a problem hits, you back-pedal to try and work out how to sort it out. I was lucky. I had a very good accountant who helped tremendously and I learnt to listen but it took a long time. It probably wasn’t until the turn of the millennium when I found myself in yet another divorce, when the situation seems unbelievable, you really start to listen.
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What’s been your best financial move?
Undoubtedly listening to David Bowie who said: “Be your own man and don’t listen to people who don’t know a hatchet from a crotchet and try to fulfil their own ideas through you because they haven’t got any.” I wanted to do Journey to the Centre of the Earth with an orchestra but there wasn’t enough money from the record company. I ended up mortgaging my house, selling everything I owned. I begged, borrowed and stole to do it. But the record company didn’t want it and I faced losing everything because I was so heavily in debt.
Eventually my record company in America loved it, insisted it was released and it sold 15 million copies and that really taught me to be my own man. Spending money I didn’t have was simply my best financial decision because if I hadn’t done it, 40 years on, I wouldn’t be doing my shows now.
