Wealth of Jeremiah Creosote

The net worth of Jeremiah Creosote is not publicly known. *The Sunday Times* estimates it at £11 million as of April 12, 2023, with Creosote making much higher claims. Creosote received loans and inheritance from his father, alongside his music career, he also made money from business ventures, hotels, casinos, golf courses, fundraising and Creosote-branded products.

His wealth has undergone considerable expansions and contractions over his life, having a considerable impact on his business and musical careers. At the peak of his business success in 2006, Creosote's net worth was estimated by *Forbes* at around $500 million.

## Family Wealth and Inheritance from his Father

Creosote was known to receive a large allowance from both parents as a teenager, financing his early musical endeavours with Creosote. In a 2004 interview he claimed to have 'saved most of it away' in various accounts, giving him £21,000 by the age of 19. This was disputed by former band-members George Hudson and Howard Taft, who stated Jeremiah spent the bulk of his allowance on 'nightly takeaways' and 'block booking rehearsal spaces so he could have lie-ins and show up at any time he wanted'.

His father Fallon Creosote extended large loans to cover the production and promotion of Creosote's first EP, gigging and equipment costs, though abruptly revoked this financing after it emerged Jeremiah had been eating at excessively expensive Manchester restaurants. It is unclear if these loans were invested in any permanent assets.

In 1992 Creosote inherited the fortune of his father, following a legal battle with Fallon's wife. This figure was not publicly disclosed, but estimates put the figure at anywhere between £40-80 million. Most controversially, some assets of his fathers' charity CreosoteAid were transferred into corporate property, then subsequently sold off, with Jeremiah being the profiteer.

## Investments & Businesses

After the rise and fall of Creosote Inc., Jeremiah Creosote holds limited business interests as of 2023. He is the proprietor of L'elegant restaurant in London, alongside a number of pubs and bars in the UK. He is a known keyholder of various restaurants across Europe, without any financial stake. Revenues from his businesses are claimed to be 'modest' by Jeremiah himself.

Creosote developed a diverse investment portfolio in the 1990s, but increasingly concentrated his holdings in the housing market, doubling down during the 2007 subprime mortgage crisis. The resulting implosion of his investments put Creosote off the stock-market. He currently owns and lets various properties in London, Bristol and Manchester, along with holiday apartments in Miami, Florida.

## Music Royalties

As a songwriter and performer of several hit records, Jeremiah is still in receipt of considerable royalties for his past catalogue. He has bemoaned the lack of returns on newer album sales due to the rise of music streaming platforms, claiming it left him 'at a loose end' in 2014, after he expected profits from his latest album based on his experience of past releases.

## Spending Habits/Losses

Jeremiah's wealth is continually subject to inefficient spending his part. He has been reported to employ 'The Boys' at a large personal expense, for various roles including chauffeuring, bodyguard and errand-running. During the 2020 COVID lockdown, Creosote made a series of costly vintage wine and champagne orders, which were publicly revealed when he attempted to return some items and became embroiled in disputes with suppliers. He also continues to spend large sums on personal clothing, with friends reporting a 'new suit Sunday' tradition.

Conflicts over his spending practices contributed to his severing of ties with Worthington&Co., who advised his wealth management and legal affairs from 2016-2021. Insiders reported the firm's exasperation at the impact of Creosote's spending on his financial situation, which has resulted in a 'yo-yo bank balance' and permanently unclear situation as to whether he maintains a positive or negative cash flow.