culture

#LowkeyInvestor: Kenny G

Kenny G isn't just a sax icon—he's a master investor, too.

kenny g mobile
Lynn Goldsmith/Corbis/VCG/Getty Images

patrick baslar
January 4, 2019

Kenny G wants you to know he’s more than just a sax icon.

 

Even though the Grammy-winning saxophonist has sold more than 75 million albums of silky, smooth jazz, Mr. G claims he's made just as much money from investing.

The 62-year-old musician, who majored in accounting in college, has topped the charts and made some top investments over his lifetime, including putting money in Starbucks when his uncle connected him with then-CEO Howard Schultz in the 1980s. “I didn't really know that much about coffee, but he's such a charismatic guy, so smart, so passionate," Kenny G told CNBC about Schultz.

 

He hasn’t said how much he made from that stock, but given how much the coffee chain has grown since its humble beginnings in Seattle, you have to imagine it’s increased in value exponentially.

Kenny G has also invested in tech giants like Apple and Microsoft. But he’s also not afraid to take risks on other stocks when he sees them, like United Airlines: “United was down a while ago. It was like $39 a share or something like that. I thought, 'OK, maybe it's going to go up.' And now it's at $74." Kenny G says his success rate in choosing new stocks is around 80%. Not a bad percentage!

 

And Kenny G has doled out advice to fellow artists on how to prepare for their futures. "Be smart about your investments, don't think you're bigger than you are and don't think it'll last forever.”

 

Now do yourself a favor: Throw on some Kenny G and start investing.