The truth behind the Rolling Stones’ money myth as Ronnie Wood’s son Jesse reveals he’s living on barely £1,000 a month

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He’s a true rock icon – a world-famous guitarist who’s been with the Rolling Stones for almost fifty years, enjoying a life of wealth and celebrity.

It’s an image Ronnie Wood has helped cement in a band that has generated billions.

That carefully constructed image began to crack when his son, Jesse Wood, recently shared surprising information in court.

Last month, the 49-year-old guitarist and former model stood before magistrates in EWest London. 

Facing unemployment and admitting to a small traffic violation, he explained that his financial situation was drastically different from the wealth and fame of his father.

Jesse explained to the court that he was living on a tight budget of £1,000 a month, earning about £14,000 a year, and was currently using his savings to make ends meet.

I just… I can’t believe it! Jesse, the Jesse Wood, son of a Rolling Stone legend, is actually having money troubles? Apparently, he’s living on a pretty tight budget and is begging the court to be understanding about a measly £957 bill! It’s shocking – his dad is worth a reported £150 million, and here’s Jesse, practically pleading for a payment plan. It’s just… wild!

This situation stems from a basic misperception of the Rolling Stones’ financial history – a history marked by personal financial struggles and a family belief that the Wood children should be self-reliant.

Someone familiar with the band’s financial situation explained to The Daily Mail that while their large concerts might look profitable, the money isn’t shared equally among everyone involved.

Mick Jagger and Keith Richards are on a completely different financial level. Ronnie’s situation has always been more complex, and that’s created difficulties for others around him.

The main reason for this difference lies in how publishing works. When Ronnie Wood became a Rolling Stone in 1975, the band had already created its most famous and profitable songs.

As a lifestyle expert, I often get asked where the money goes from those iconic songs you hear everywhere. When it comes to Rolling Stones hits like ‘Satisfaction’ and ‘Jumpin’ Jack Flash,’ the bulk of the millions they earn each year goes directly to the songwriting duo, Mick Jagger and Keith Richards – and rightfully so! They’re the creative force behind those timeless classics.

Although Ronnie is quite wealthy, his money comes from things like concert earnings, performance payments, and later jobs – sources that are profitable, but not necessarily ongoing forever.

According to a source, he earns a lot of money writing for Rolling Stone, but he doesn’t control the content or direction of the publication.

‘That’s the difference between being wealthy and being generationally, unfathomably rich.’

This chasm is starkly visible in the lives of their children. 

Mick Jagger is worth an estimated £440 million, and Keith Richards has a fortune of £430 million. This makes them two of the wealthiest rock stars in the world, ranking at number six and seven respectively, among artists like Elton John and Paul McCartney, the billionaire former Beatle.

However Ronnie’s name is conspicuously absent from such rankings.

His bandmate’s children have a significant advantage in their careers because they come from wealth and have strong connections.

Mick Jagger’s eight children are all financially successful. His oldest, Karis, is a producer with an estimated net worth of $12 million, and his daughter, supermodel Georgia May Jagger, is worth around $20 million.

Keith is clearly planning for the future, having set up a £1.8 million trust fund specifically for his grandchildren’s security.

Mick recently hinted that his children don’t require a vast fortune to be happy, implying he’s considering donating some of his wealth to charitable causes.

The difference in backgrounds couldn’t be more obvious. Unlike the children of Mick and Keith, there’s no public record of anyone ever having to explain a difficult financial situation – like living on just £1,000 a month – in court.

This reality has been underscored by Ronnie’s own, often fraught, relationship with money. 

He’s openly discussed the turbulent times when he was spending money just as quickly as he earned it. He’s admitted he wasn’t good with finances, saying, ‘I simply didn’t understand how money worked.’

When he was battling addiction, he ran into serious financial trouble and had to borrow around £250,000 from the other members of his band.

After their divorce, Jo Wood, his first wife, shared a revealing look at what life was really like, showing how the glamorous rock ‘n’ roll lifestyle often clashed with everyday family life.

In her 2013 autobiography, ‘Hey Jo,’ Jo Wood shared that Ronnie sometimes struggled to afford their children’s school tuition.

‘People assume rock stars are rolling in it, but that wasn’t our experience.’

Those who know the guitarist well believe his past struggles significantly influenced how he became a father.

According to a family friend who spoke with The Daily Mail, Ronnie has always wanted his children to be independent and forge their own paths.

He’s happy to help, but he’s careful with his money. Considering his past experiences, he prioritizes financial security over extravagant spending.

This situation was also reflected in the experience of Jamie Wood, Jo’s son from a prior relationship, who was adopted by her husband, Wood.

Jamie described the musician as being careful with his money. He remembered once asking for a small loan and receiving just ten pounds.

‘That’s why I was always hustling from a young age.’

For Jesse, this period involved pursuing a career in modeling and music, including his work with the band Woods, and co-parenting his two children with his former wife, TV presenter Fearne Cotton, with a good deal of self-reliance.

I’ve been following Ronnie for a while now, and it’s important to understand where his reported £150 million comes from. It’s not like he has that much readily available cash! A lot of it is tied up in things that are valuable, like his incredible art collection – he actually paints himself, and has amassed a huge amount of work – plus various properties and investments. It’s wealth, absolutely, but not something he can easily dip into for everyday expenses.

‘His wealth is structural,’ explains a financial advisor familiar with entertainment assets. 

The value is tied up in things like artwork, real estate, and potential income from tours. It’s different than readily available cash, and needs to be managed responsibly, particularly when you have a young family to consider.

Ronnie and his wife, Sally, have six-year-old twins, which means they have significant, ongoing financial obligations. People close to the situation say this has made Ronnie even more careful with his money.

As a lifestyle expert, I’ve been following the story of Jesse, and honestly, the fact that he’s living on £1,000 a month isn’t some shocking family drama. It’s actually a pretty understandable result of years of financial decisions and circumstances – a legacy, if you will. It’s complex, but not scandalous.

This artist is a product of succeeding after the initial wave of popular songwriting, overcoming difficult personal challenges and financial setbacks, and ultimately finding strength in independence.

Last month, The Daily Mail reported on Jesse’s money problems after his split from Fearne Cotton.

He openly shared that he was getting by on just around £1,000 a month and had been finding it hard to find work since his divorce after a decade of marriage.

Company accounts then showed his business deeply in the red and burdened with mounting debts.

Rekognition Sound Limited, a company solely owned and run by Jesse, is in a difficult financial position. It currently has only £10,943 in its accounts, but owes a total of £111,903 to those it owes money to. This debt includes £37,352 in bank loans.

The company’s latest financial results, for the year ending November 2024, reveal a loss of £101,562. This is a significant rise from the £56,211 loss reported in the previous year.

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2026-02-15 16:06