Bruce Springsteen rejects reports that he's a billionaire: 'They got that real wrong'

• Bruce Springsteen has rejected reports that he's a billionaire.
• Forbes estimates Springsteen to be worth $1.2 billion.
• "I wish I was, but they got that real wrong," the singer said.

Bruce Springsteen has rejected reports that he's a billionaire in a recent interview, saying he's frittered away too much money on things he didn't need.

Springsteen, one of the most iconic names in music, has sold more than 140 million records worldwide and won 20 Grammy Awards over the course of his career.

His earnings got a major boost in 2021 after he sold his music catalog to Sony for around $500 million, while his 2023 world tour brought in a further $380 million in revenue, according to Pollstar.

In July, Forbes said that the singer had entered the billionaire club for the first time, putting his net worth at $1.1 billion.

Forbes' real-time net worth tracker suggests that figure has continued to rise over the last few months, estimating his current net worth to be $1.2 billion.

But Springsteen, 75, recently told The Telegraph that such numbers were way off.

"I'm not a billionaire," Springsteen said. "I wish I was, but they got that real wrong."

"I've spent too much money on superfluous things," he added.

The musician, famed for hits such as "Born in the USA" and "Thunder Road," was speaking to The Telegraph ahead of the release of his new documentary, "Road Diary: Bruce Springsteen and the E Street Band."

Following a recent screening of the movie in London, attended by Business Insider, Springsteen also shared another way he uses some of his cash — paying his band "a tremendous amount of money."

The singer said that tactic had been key to his career success and longevity.

"If you get the art right, the music right, and the band right, you go out and play every night like it's your last night on Earth. That was the serial philosophy of the band, and we're sticking to it," he said.

Springsteen has previously opened up about some of the financial troubles he faced early in his career after he said he hadn't paid some of his taxes.

In an interview with Tom Hanks at the Tribeca Film Festival in 2017, the singer spoke candidly on the topic, saying: "First of all, I never met anyone in New Jersey who paid his taxes," per Vanity Fair.

"They came after us. I had to work for a couple of years for somebody else," he said. "Not only did I have to pay all the taxes that I hadn't paid, and then bills that I hadn't paid."

"In 1980, I think I had about $20,000 to my name," he added.