NEED TO KNOW
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Kevin Jonas opened up about his financial journey following the Jonas Brothers’ split in 2013
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The singer appeared alongside his brothers on Lewis Howes’ “The School of Greatness” podcast where he confessed that he almost lost all of his money
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Kevin said his financial troubles came as a result of business deals that weren’t the “right partnership”
Kevin Jonas is opening up about losing “almost all” of his money following the Jonas Brothers’ split.
Kevin, 37, appeared on Lewis Howes’ “The School of Greatness” podcast alongside his brothers Nick Jonas, 32, and Joe Jonas, 35, on Monday, July 7. They discussed how they found what truly matters in life in the midst of losing everything.
Kevin confessed on the podcast that he made a series of business deals in his younger years that ultimately led to him losing almost everything.
“I’ve seen the beginning of the success to financial success — not knowing what money really was and understanding it — to not having [it], to losing almost all of it,” Kevin told the podcast host.
Howes, 42, reacted with surprise to Kevin’s confession, asking if he really almost lost all of his money.
“Yeah, most of it, like, down to the one 10 percent left.” the oldest of the Jonas brothers responded.
The financial troubles came about nine years ago as a result of a bad partnership, Kevin said.
“I invested in a bunch of property and doing other things and I was building at the time,” the singer said before continuing. “Sadly, it wasn’t the right partnership, if you know what I’m saying”
Kevin then stopped himself from elaborating, saying that he couldn’t share any more details. He did add, though, that he “learned a lot of lessons” from the experience.
“Thankfully for life in general, like we had a second shot and bite at the apple with the band coming back together,” Kevin said, continuing. “It was kind of fortuitous in a way.”
Kevin said he was able to reevaluate and apply those difficult financial lessons the second time around, and it changed the way he thinks about the music business.
The Jonas Brothers experienced a whirlwind of success beginning in 2005, when they embarked on their first tour. They released their debut album It’s About Time in 2006 and starred in Disney’s Camp Rock in 2008. But in 2013, the brothers called it quits.
“When it ended it was not good,” the youngest Jonas Brother said in an interview with Z100 in 2019. “It was a couple years of rebuilding our family, and in our mind it seemed impossible for us to do this ever again.”
The band split for five years and during that time they worked on their own personal projects.
Kevin followed his entrepreneurial pursuits, which included creating a company called The Blu Market, providing social media influencers with strategic support. He also invested in the tech world, helping create the restaurant-finding app Yood and becoming a partner of social media app We Heart It.
Then, in 2019, the brothers announced their comeback on James Corden’s Late Late Show. Their album, Happiness Begins, was later released in June of that year, along with a documentary detailing the band’s history.
According to Kevin, making the Amazon Prime Video film, Chasing Happiness, was part of their healing process.
“[It] was great because we had to have real conversations and not hold back,” Kevin said, comparing the production to therapy. “So for us, it worked out in a good way.”
Read the original article on People
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