150 Million Dollars
Sammy Hagar, an American rock singer and entrepreneur with a net worth of $150 million, is a self-made man. Sammy Hagar, also known as “The Red Rocker,” is probably best known for his association with the band Van Halen. In 1985, he replaced David Lee Roth as the lead singer of the legendary rock band. He was a member of Van Halen from 1985 to 1996, and then from 2003 to 2005.
Guy Fieri and Sammy Hagar co-own the Santo Tequila tequila company. Sammy owns the rum company Beach Bar Rum and formerly owned the tequila company Cabo Wabo.
While Sammy made his initial fortune in the music industry, the vast majority of his wealth today has nothing to do with Van Halen. Sammy began selling his own brand of tequila named “Cabo Wabo” in the late 1990s, after a bar he purchased in Cabo San Lucas, Mexico in the 1980s. Over time, his bar and tequila became extremely popular not only with locals, but also with distributors worldwide.
In 2007, Sammy sold Gruppo Campari 80 percent of the Cabo Wabo tequila company for $80 million. In 2009, he sold the remaining twenty percent for $15 million. Hagar was the majority owner of the company, so he received approximately $95 million from the deals.
Early Life: On October 13, 1947, Samuel Roy Hagar was born in Salinas, California, United States. Shortly after his birth, his family relocated to Fontana, Southern California, so that his father could work at a steel mill. Hagar became interested in the burgeoning Southern California music scene as a teenager. Hagar formed his first band, the Fabulous Castilles, at the age of 14. Hagar is a Fontana High School graduate. Hagar joined the Johnny Fortune Band as a guitarist and vocalist in 1967. He was also a member of the Justice Brothers, which was the house band at The Nightclub, a nightclub in San Bernardino, California.
In 1973, Hagar received his first major break with the band Montrose. He participated on the band’s debut and second albums. Hagar composed his first song, titled “Bad Motor Scooter,” for the band Monstrose. Hagar began his solo career following his departure from Montrose. “I Can’t Drive 55,” from his 1984 album “VOA,” was one of the biggest hits of Hagar’s solo career during the 1980s. During this time, he gained the nickname “Red Rocker.”
Eddie Van Halen reached out to Hagar in July 1985 to fill the void left by David Lee Roth’s departure from Van Halen. Van Halen released four multi-platinum, chart-topping albums with Hagar as the frontman: “5150,” “OU812,” “For Unlawful Carnal Knowledge,” and “Balance.” The Hagar years of Van Halen also produced nine rock number-one singles. During this time, fans commonly referred to the group as Van Hagar. Hagar left Van Halen during the summer of 1996 due to dissension within the group.
Hagar, along with Van Halen’s bassist Michael Anthony and drummer David Lauser, formed the rock band Los Tres Gusanos, which translates to The Three Worms, as a side project in the early 1990s. The band performed Hagar’s songs, Van Halen’s songs, and cover songs at Hagar’s Cabo Wabo nightclub in Cabo San Lucas and at various San Francisco venues.
In 2003, Hagar rejoined Van Halen. The following year, the band released a greatest hits album titled “The Best of Both Worlds” and toured the globe with Hagar. Sadly, during the tour, old tensions within the band resurfaced.
Hagar marketed a premium tequila brand known as Cabo Wabo. Hagar performs at the club during his annual “Birthday Bash.” He also owns a nightclub and restaurant in Cabo San Lucas, Mexico, called Cabo Wabo Cantina. Hagar opened “Sammy’s Beach Bar & Grill” at the Harrah’s Casino in St. Louis, Missouri, in early 2009. Subsequently, a second location opened in the Southwest Airlines terminal at McCarran International Airport in Las Vegas, Nevada. Hagar donates all profits from both locations to local organizations.
On November 3, 1968, Hagar wed Betsy Berardi as his first wife. Together, they had two sons, Aaron (born in 1970) and Andrew (born in 1984). The couple divorced in 1994 after 26 years of marriage. On November 29, 1995, he wed his current wife, Kari Hagar; they have two daughters, Kama (born in April 1996) and Samantha (born in March 2001).
In May of 2020, Hagar was criticized for comments he made in an interview with Rolling Stone. He stated: “I have no intention of spreading the disease. However, there may be times when we must sacrifice. I mean, how many people die each day on Earth? I do not know. Man, I’m sorry to say it, but we’re all going to die.” Internet being what it is, people naturally took offense, requiring Hagar to clarify his remarks.
Sammy and Kari’s primary residence has been in Mill Valley, California, in Marin County, north of San Francisco, for many years. He purchased the residence in 1978 for $160,000. He also owns a home in Lake Tahoe, which he purchased in 2007 for $450,000 and is located several hours to the north.
Hagar has been unsuccessfully attempting to sell his Lake Arrowhead, California property for several years. The Los Angeles Times reports that the 6,557-square-foot home is now available for rent for $30,000 per month or for weekends. The 2009-constructed chateau has three stories, eight bedrooms, eight and one-half bathrooms, and a separate guesthouse. Hagar initially acquired the property in 2009 for $2,300,000. A few years ago, when he first listed it for sale, the asking price was $5.25 million, but it has since been reduced to $3.9 million.
He formerly owned a home in Haiku, Hawaii, which he sold for $3.1 million in 2018.
Sammy is a well-known car enthusiast, especially for Ferraris. In 2015, he commissioned a white $2.2 million LaFerrari. He has the only LaFerraris that is painted white out of the 499 that exist in the world.
Hagar still owns the black 1982 Ferrari 512BB made famous in the music video for “I Can’t Drive 55.” In 1982, when the 512 BB first appeared on the market, it had an MSRP of $32,000. Today, they routinely sell for more than $350,000. His collection also consists of a 2005 Aston Martin Vanquish Lagonda, a 1967 Gateway GCM-R Fastback Mustang, a 2008 Ferrari 599 GTB Fiorano F1, a Ford Shelby GT, a Jaguar XKE, and dozens of other automobiles.