Elton John in ‘financial hell’ after losing $77M over canceled tour: rumor

elton-john-in-financial-hell-after-losing-77m-over-canceled-tour-rumor

Elton John is, allegedly, struggling financially after losing millions following the cancelation of his farewell tour.

Elton John is reportedly in financial trouble. Initially, the artist was set to make a tour, but it didn’t push through and the cancelation cost him so much.

Elton John is allegedly in financial trouble

According to Mail on Sunday, Elton John has lost nearly $77 million after his farewell tour has been canceled. An unnamed source told the London outlet that the tour was not covered by insurance. Thus, the cancelation took a huge chunk out of John’s retirement plans.

In addition, the Your Song singer had to lay off some of his full-time staff due to the losses.

“No one expected this,” the report claimed.

“That tour was supposed to make 60 million pounds and that revenue has disappeared overnight.”

Furthermore, New Idea also claimed that John, his husband David Furnish, and their two children decided to left their home in Los Angeles. The family allegedly returned to London amid the coronavirus pandemic.

John going broke rumor debunked

Gossip Cop debunks the claim that Elton John is having financial problems. The rumor-debunking site provided several reasons why the report was not true.

First, Elton John’s concert was not canceled but postponed. The pandemic has forced several events to be canceled and postponed. Several artists also decided to cancel their concerts this year due to the health scare including Taylor Swift.

Since the event is only postponed, John will still be making money out of it. Some might get refunds but that doesn’t mean that no one would pay for it.

Second, just last month, John pledged to donate $1 million to his AIDS foundation as part of emergency funds to help those people living with AIDS amid the pandemic.

John continues charity works despite COVID-19

Elton John has been helping people with AIDS and he never forgets them especially at the time like this.

“Today, I’m proud to announce that my Foundation @EJAF is launching a $1million COVID-19 Emergency Fund to make sure that our frontline partners can respond to the effects of COVID-19 on HIV care for the most marginalized communities around the world,” John wrote on Twitter.

John wants to end the AIDS epidemic and he has been working for it in the last three decades. He understands that people vulnerable to HIV/AIDS and those who already contracted the disease are most likely to be left behind due to the coronavirus. So, he decided to fund them.

Image used courtesy of Anton_Ivanov/Shutterstock

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