What Was Natalie Cole's Net Worth?
Natalie Cole, an iconic American singer, songwriter, and performer, had a net worth of $5 million at the time of her death in 2015. Best known for her contributions to R&B music, she produced timeless hits such as "This Will Be (An Everlasting Love)", "Inseparable", and "Our Love".
Bankruptcy
Natalie Cole declared bankruptcy in 1997, startling many as it appeared to be the apex of her career. She cited uncontrolled spending and substantial debts, including millions in royalties owed to her father's estate for their duet album.
Early Life
Natalie Maria Cole was born on February 6, 1950, in Los Angeles, California. She was the daughter of legendary jazz musician Nat King Cole and former Duke Ellington Orchestra singer, Maria Cole. Displaying talent from a young age, she was featured on her father's Christmas album at six and began performing solo by age 11. She studied at Northfield School for Girls in New England before her father passed away from lung cancer in February 1965.
After her father's death, Cole attended the University of Massachusetts Amherst, majoring in Child Psychology and minoring in German, and graduated in 1972.
Nat King Cole Estate
In 1965, Nat King Cole's estate was valued at $3.5 million, equivalent to roughly $30 million today. Unfortunately, due to inadequate estate planning, taxes, and associated costs, his family received just $1 million, equal to about $7 million today.
Music Career
Post-graduation, Natalie Cole sang in small clubs with her band, Black Magic. Initially welcomed due to her famous lineage, club owners were sometimes disappointed by her renditions of R&B and rock songs. After collaborating with Chuck Jackson and Marvin Yancy, she recorded in a Chicago studio owned by Curtis Mayfield. Her demo tapes secured a recording contract with Capitol Records, leading to her first album, "Inseparable," featuring hits like "This Will Be" and "I Can’t Say No." The album earned instant acclaim, and "This Will Be" won a Grammy Award for Best Female R&B Vocal Performance. Natalie also won the Grammy for Best New Artist, becoming the first African-American artist to receive the honor. This success, however, spurred a rivalry with Aretha Franklin.
Her second album, "Natalie," achieved gold status with hits like "Sophisticated Lady" and "Mr. Melody." She soared further with her third album, "Unpredictable," featuring the number one hit "I've Got Love on My Mind." Cole's fourth album, "Thankful," also went platinum, featuring another hit, "Our Love." By 1979, she had released "Natalie Live!," her first live album, and earned a star on the Hollywood Walk of Fame. That same year saw the release of two more gold albums, "I Love You So" and "We’re the Best of Friends." Unfortunately, her eighth album, "Don’t Look Back," marked a decline in her career.
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The 1980s were challenging for Cole due to a debilitating drug addiction, almost derailing her career. After releasing "I’m Ready" in 1983, she entered a rehab facility for six months. Cole made a pop comeback with her 1987 album, "Everlasting," but her greatest success came in the 1990s when she re-recorded some of her father’s classic hits in "Unforgettable…with Love," which sold over seven million copies. She even created an interactive duet with her father on the iconic "Unforgettable."
Continuing her successful streak, Cole released several jazz CDs, including "Take A Look," which won a 1993 Grammy for Best Jazz Vocal Performance. Her CD "Stardust" featured another duet with her father on "When I Fall in Love," which won the 1996 Grammy for Best Pop Collaboration with Vocals. In 1997, she hit the pop singles charts with "A Smile Like Yours" and released her first holiday album, "Holly and Ivy," certified gold by 1996. Cole performed at the 1998 Nelson Mandela 70th Birthday Tribute, and shared the stage with Al Jarreau on HBO's "Comic Relief" in 1990. In 2002, she signed with Verve Records, releasing two more albums, "Ask a Woman Who Knows" (2002) and "Leavin'" (2006).
Film and TV Career
As an actress, Cole starred in "Livin' for Love: the Natalie Cole Story" in 2001, winning an NAACP Image Award for Outstanding Actress in a Television, Mini-Series, or Dramatic Special. She also appeared on "Real Housewives of New York City" on July 22, 2011.
Personal Life
Natalie Cole was married three times. Her first marriage was to Marvin Yancy, a former member of the '70s R&B group The Independents, with whom she had a son, Robert Adam Robbie Yancy, born in 1977. Robbie, who toured with Cole, died of a heart attack at age 39 in August 2017. Cole's second marriage was to producer Andre Fischer from 1989 to 1995, followed by her third marriage to Bishop Kenneth Dupree in 2001, which ended in 2004.
Cole battled health issues throughout her life, contracted hepatitis C through intravenous drug use, and experienced kidney failure in 2008, requiring dialysis. She canceled several events in December 2015 due to illness. Cole died on December 31, 2015, from congestive heart failure at 65. Her funeral on January 11, 2016, at the West Angeles Church of God in Christ in Los Angeles, was attended by numerous celebrities, including Stevie Wonder, Smokey Robinson, Lionel Richie, Chaka Khan, Gladys Knight, Jesse Jackson, Angela Bassett, and many more. She was laid to rest at Forest Lawn Memorial Park in Glendale, California.
