Sammy Hagar’s story is one of rock and roll extravagance, but it began with a staggering financial windfall. In a revealing interview, the iconic rocker has finally quantified the impact of selling his tequila empire, Cabo Wabo, revealing he took home a colossal $80 million for the majority stake in 2007 – a figure that ultimately grew to $91 million after divesting the remaining 20% in 2010.
Launched in 1996, Cabo Wabo quickly became synonymous with Hagar’s brand and the vibrant energy of the Southwestern music scene. The sale to Gruppo Campari marked a pivotal moment, shifting Hagar’s focus while simultaneously transforming his financial landscape.
But it wasn’t just about the money. Hagar recounted the initial reaction to the deposit – a moment that remains etched in his memory. “I woke up, got out of bed, laid on the floor, and laughed uncontrollably for a few minutes,” he shared. A truly remarkable response to a deal worth $80 million.
Following the sale, Hagar has embraced a lifestyle defined by luxury. Ferraris and fine wines have become hallmarks of his pursuits, fueled by the freedom the tequila sale afforded him. However, the rock legend’s success hasn’t diminished his commitment to giving back.
In 2008, Hagar established the Hagar Family Foundation, continuing his philanthropic efforts and supporting various charitable causes. This dedication to community service reflects a grounded perspective, balancing the thrill of a major financial achievement with a desire to make a positive impact.
Sammy Hagar’s story isn’t just about tequila; it’s about transformation, ambition, and the enduring spirit of a rock icon. It’s a reminder that extraordinary success can be a catalyst for both personal indulgence and impactful generosity.
