As Faith No More keyboardist and Imperial Teen frontman Roddy Bottum explained during his appearance on the podcast The Hustle: Money & Music last month, he was just a "punk rock kid" in San Francisco when he got a piece of financial advice that changed his life forever.
Bottum, who wrote about his early years in his memoir The Royal We, per Stereogum, said it was his boyfriend, Jim Olson, who taught him how to read the stock market...even though he had "no money" at the time.
"I made $12,000 after touring for probably a year and a half straight. I was at my home in Los Angeles, visiting my family for the holidays, and someone delivered that check from the company managing Faith No More at the time. It was like, 'This is your compensation for what you made over the past year and a half. We have some overage, so everyone in the band is getting $12,000.'"
"It was at the time when Apple stock was at its absolute most base. Steve Jobs wasn't back in the company yet. We were years and years away from the iPhone, and I just bought that stock and I let it sit," he said.
Roddy Bottum's Apple investment was like 'winning the lottery'
"Honestly, it was like winning the lottery. It was just the craziest thing. Who would ever do that, for one? It was this crazy happenstance of luck that I happened to make that decision with this," he said, calling the successful investment "a payoff, in terms of this boyfriend I had was unbearable...So there you go."
"I don't make music for money. I haven't written this book for the want for money. That's not my motivation and what I do artistically," he said.
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