Kevin Jonas said he lost “almost all” of his money after the Jonas Brothers broke up in 2013.
Kevin, 37, detailed some of the lessons he’s learned about money, success and fame during a joint interview with his brothers — Joe, 35, and Nick, 32 — on the Monday, July 7, episode of “The School of Greatness” podcast hosted by Lewis Howes.
“I’ve seen the beginning of the success to financial success, not really knowing what money was and understanding it, to not having [it], to losing almost all of it,” Kevin recalled.
Kevin chalked up his financial loss, which happened “about nine years ago,” to a “bad business deal.”
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Quizzed about how much he lost, Kevin said, “Most of it,” adding that at one point he was “down to 10 percent left” of his fortune.
“Invested in a bunch of property and doing other things I was building at the time. Sadly, it wasn’t the right partnership, if you know what I’m saying,” he explained. “Can’t really get too much into it, but the sad part of it is I’ve learned a lot of lessons in that.”
However, Kevin said he’s learned from his previous investments and now has better perspective following the Jonas Brothers’ lucrative reunion in 2019.
“Thankfully, for life in general, we have a second shot and bite at the apple with the band coming back together,” he said. “It was fortuitous in a way. I learned this lesson — never wanted to learn it — but then at the same time, reevaluated how to approach life.”
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The Jonas Brothers formed in 2005 and shot to international fame after starring in the Disney Channel original movie Camp Rock in 2008. They went their separate ways in 2013 but later announced their return in early 2019 with their comeback song “Sucker” reaching the top of the Billboard Hot 100.
The band is set to embark on their Jonas20: Living the Dream Tour next month to mark their 20th anniversary. The tour will kick off August 10 at MetLife Stadium in New Jersey, where the brothers are from.
“We’re beyond excited to hit the road and celebrate 20 years of music,” the group said in a statement. “Our fans have been with us through every chapter, and this tour is our way of honoring them, the memories we’ve made and the ones we’ll create together. We can’t wait to make this our biggest, most unforgettable tour yet.”
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