Timothy B. Schmit Net Worth and Biography
Timothy B. Schmit is a legendary figure in American rock music, renowned for his remarkable contributions as a member of Poco and the globally celebrated Eagles. Beyond his extraordinary musicianship, Timothy has cemented his legacy through solo albums, touring, and collaborations with some of the greatest artists in music history. With Timothy B. Schmit net worth valued at $25 million as of 2024, his financial achievements reflect a five-decade-long career that’s as diverse as it is influential.
The Journey of a Musical Visionary
Born on October 30, 1947, in Oakland, California, Timothy Bruce Schmit grew up in Sacramento, immersed in the vibrant music culture of the 1960s. He began his foray into music at an early age, initially exploring tap dancing before developing his love for the guitar. By 15, he was part of a folk trio called Tim, Tom & Ron, which soon transitioned into a surf-rock band named The Contenders. They later rebranded as The New Breed, scoring a radio hit with “Green Eyed Woman” in 1965.
Schmit’s extraordinary career began gaining momentum in 1968 when he joined Poco, replacing Randy Meisner as bassist and vocalist. His stellar contributions to Poco’s nine studio albums solidified his reputation as a talented songwriter and performer. By 1977, another twist of fate brought him to replace Meisner again, this time in the Eagles, where he achieved his greatest success.
Timothy B. Schmit Net Worth – A Financial Journey
Timothy B. Schmit’s net worth is a testament to his hard work, talent, and ability to stay relevant in a changing music industry. His wealth has been primarily derived from album sales, royalties, worldwide tours, and collaborations.
Historical Net Worth Overview
| Year | Estimated Net Worth | Key Financial Achievement |
|---|---|---|
| 1980 | $5 Million | Success with the Eagles’ The Long Run album |
| 1994 | $10 Million | Tour earnings from Hell Freezes Over |
| 2010 | $18 Million | Continued Eagles success and solo career earnings |
| 2024 | $25 Million | Ongoing royalties and recent releases |
The majority of Schmit’s earnings came during his tenure with the Eagles, one of the highest-grossing bands in history. Albums like Hotel California and The Long Run contributed significantly to the group’s global success. Furthermore, Timothy’s solo albums such as Expando and Leap of Faith have complemented his income.
2024 Income Breakdown
1. Album Sales and Streaming Royalties
Timothy continues to earn royalties from classic Eagles albums, reinforced by the band’s steady popularity on streaming platforms. This income is estimated at $3 million annually.
2. Tour Revenues
Even into his 70s, Schmit remains an active performer, both as a solo artist and with the Eagles. Recent tours have seen sold-out arenas and are estimated to contribute $2 million annually.
3. Collaborations and Studio Work
Schmit has a long history of studio work with artists like Toto, Don Henley, and Bob Seger, with a steady stream of royalties from collaborative projects contributing $500,000 annually to his earnings.
| Sources of Income (2024) | Annual Earnings |
|---|---|
| Album Royalties | $3 Million |
| Touring | $2 Million |
| Studio Collaborations | $500,000 |
| Other Ventures | $1 Million |
Assets, Lifestyle, and Personal Interests
Real Estate Portfolio
Timothy owns a luxurious home in Agoura Hills, California, an area well-known for its peaceful surroundings and connection to the Los Angeles music scene. Valued at $3 million, the property reflects his love for comfort and artistic inspiration.
Musical Equipment Collection
Schmit’s treasured possessions include a collection of guitars, vintage recording equipment, and memorabilia from his time with Poco and the Eagles, collectively valued at $1 million.
Lifestyle and Personality
Living a grounded yet creative life, Timothy prioritizes family and artistic exploration. He has been married to Jean Cromie since 1984 and has two children. Schmit frequently emphasizes the importance of maintaining a work-life balance and enjoys hobbies like hiking, art, and attending live performances.
- Height: 5’9” (1.75 m)
- Weight: Approx 150 lbs (68 kg)
- Style: Understated and bohemian clothing reflecting his laid-back personality
Latest News About Timothy B. Schmit (2024)
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New Music in Development
Schmit revealed to his fans that he is working on a new album slated for release in late 2024. Known for blending rock, folk, and jazz influences, this album promises to be a deep reflection of his musical evolution. -
Eagles Farewell Tour
Timothy joined the Eagles for their highly anticipated Farewell Tour. This historic tour aims to celebrate the band’s legacy and is already breaking box-office records. -
Acoustic Charity Campaign
Schmit recently performed an exclusive acoustic set to raise funds for wildfire relief efforts, reflecting his commitment to environmental conservation and community support.
Timothy B. Schmit Bio Table
| Full Name | Timothy Bruce Schmit |
|---|---|
| Date of Birth | October 30, 1947 |
| Age | 77 |
| Net Worth (2024) | $25 Million |
| Profession | Musician, Bassist, Singer |
| Major Bands | Poco, Eagles |
| Spouse | Jean Cromie (Married since 1984) |
| Children | Three (Jeddrah, Owen Faye, Ben) |
| Residence | Agoura Hills, California |
FAQs About Timothy B. Schmit Net Worth
1. What is Timothy B. Schmit’s net worth as of 2024?
Timothy B. Schmit has an estimated net worth of $25 million, accrued from his time with Poco and the Eagles, solo projects, and various collaborations.
2. How did Timothy B. Schmit earn his wealth?
He earned his fortune through album sales, royalties, world tours, solo music, and collaborations with artists like Bob Seger and Toto.
3. What is Timothy’s most famous solo song?
His hit single “Boys Night Out” from the album Timothy B remains one of his most popular solo tracks.
4. Where does Timothy currently live?
Timothy resides in Agoura Hills, California, in a serene, upscale neighborhood.
5. Is Timothy still performing with the Eagles?
Yes, Timothy continues to perform with the Eagles, as well as pursuing his solo career.
Concluding Thoughts on Timothy B. Schmit’s Legacy
Timothy B. Schmit’s career embodies versatility, resilience, and unparalleled talent. From his formative years in Poco to his legendary contributions to the Eagles, Timothy B. Schmit net worth symbolizes the enduring impact of his artistry. Whether creating hits, performing for sold-out arenas, or championing causes close to his heart, Timothy remains a beloved figure in the music industry. His ability to evolve while staying true to his folk-rock roots ensures his legacy will resonate for generations to come.