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Money
Paper currency notes, which will become known as greenbacks, are introduced in the USA by President Abraham Lincoln. Numerous songs will be inspired by the introduction of paper currency. Perhaps the best-known is Greenback Dollar written by Hoyt Axton in 1963, which achieved considerable success in a version by The Kingston Trio.
Jazz and pop lyricist Johnny Burke is born in Antioch, California, USA. He will write lyrics for memorable songs including Swinging On A Star, My Very Good Friend The Milkman and Pennies From Heaven.
Young Chester Burnett persuades his father to buy him a guitar. The boy will grow up to find fame as blues star Howlin' Wolf.
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Singing cowboy Roy Rogers comes to the end of a series of 26 one night stands with a show in Birmingham, Alabama, USA. The tour played to 169,000 people and grossed $278,000.
Victor Borge comes to the end of a fourteen-day run of one-man shows at The Curran Theater, San Francisco, California, USA. the sell-out shows have grossed $72,000.
A judge in Nashville, Tennessee, USA, approves 18-year-old Brenda Lee's proposal to sign a twenty-year contract which guarantees her $35,000 annually, with Decca Records.
Chrissie Hynde, later to lead The Pretenders, is given her first guitar for her 21st birthday.
The Rolling Stones' co-manager Eric Easton signs a contract for the group to appear at The Royal Albert Hall, London, UK, next February, for a fee of £150.London-based entrepreneur Nicky Byrne delivers a contract for the merchandising of products bearing The Beatles name and/or likenesses, to the office of showbiz lawyer David Jacobs, who is acting on behalf of The Beatles' manager Brian Epstein. The contract, involving the establishment of a company called Seltaeb owned by Byrne, will in due course prove exceptionally unfavourable to Epstein who will lose many thousands of dollars in profits.
American music trade magazine Billboard reports that the Symphonic Electronic Corporation has begun shipping a new four-speed portable phonograph adorned with photographs of The Beatles. The product costs $29.95.
Porter Wagoner records Skid Row Joe for RCA Victor Records in RCA Victor Studio, 800 17th Avenue South, Nashville, Tennessee, USA.
The world's first head shop - The Psychedelic Shop - opens on Haight Street in San Francisco, California, USA. The shop is run by Ron Thelin and his younger brother Jay Thelin.
Detroit-based band The Stooges is signed to Elektra Records by A+R man Danny Fields for an advance of $5,000. The band's vocalist will go on to find greater fame as Iggy Pop.
The Rolling Stones fire their business manager, Allen Klein, who also managed the business affairs of The Beatles for some time. In 1974, inspired by Klein's underhanded financial dealings John Lennon will write Steel And Glass about him, including the lines, "Your mother left you when you were small/ but you're gonna wish you weren't born at all." Also, the demo version of George Harrison's song Beware Of Darkness, from his album All Things Must Pass, is said to contain the following lines, "Watch out now, Take care, beware of soft shoe shufflers, Dancing down the sidewalks, Pushing you in puddles in the dead of night, Beware of ABKCO", in reference to Klein.
Bob Dylan's former manager, Albert Grossman, files a lawsuit in New York City, USA, claiming back royalties and punitive damages. Dylan will counterclaim on eighteen different points, and the battle will drag on for several years.
A $5m endorsement contract is signed between Michael Jackson, The Jacksons and Pepsi-Cola, involving sponsorship of the band's Victory tour and two TV commercials.
Mick Jagger of The Rolling Stones and Jerry Hall attend an Independence Day party aboard the yacht of multi-millionaire Malcolm Forbes, as it sails round Manhattan, New York City, USA.
It is reported that Mick Jagger of The Rolling Stones will earn £1m on each night of his upcoming solo tour of Japan, Asia, – a total of £7m.
The Sun newspaper reveals that UK pop trio Bros are being sued for £58,000 by American Express for overspends on their Platinum cards.
Steve Fargnoli, former manager of Prince, files a $5m legal suit in the Superior Court, Los Angeles, California, USA, alleging that the Prince track Jughead is about him.
During a UK tour, Thunder abseil down the Tyne Bridge to raise money for the British Lung Foundation.For a fee of $55, Natalie Maines of The Dixie Chicks marries actor Adrian Pasdar at The Little White Wedding Chapel in Las Vegas, Nevada, USA.
The custom-made 1968 drumkit made for Keith Moon, drummer of The Who, is sold at auction in London, England, UK, for £120,000 ($204,000) to an American collector.
eBay bids for tickets to Michael Jackson's upcoming Memorial Event in the Staples Center, Los Angeles, California, USA, reach as high as US$3,000. Most offers, however, are in the $100 to $200 range.
It is announced that the estate of Michael Jackson has agreed the biggest recording deal in history, said to be worth more than $200m.
Front Line Management, headed by Irving Azoff, files suit in Los Angeles, California, USA, against Axl Rose seeking $1.9m in unpaid managerial fees.
Prince is ordered by the High Court, Dublin, Ireland, Europe, to pay $2.95m in compensation to promotions company MCD for pulling out of a June 2008 show at Croke Park.
British musician Sam Duckworth, aka Get Cape.Wear Cape. Fly., puts himself up for auction on Ebay. Bidders can win a private acoustic show in their home, and all money raised goes to Oxfam's Pakistan Flood Appeal.
It is reported that Michael Jackson's former landlord, Aner Iglesias, has filed a lawsuit in Los Angeles Superior Court to regain $234,000 for damage the singer allegedly caused to his Las Vegas, Nevada, USA, home from 2008 to 2009.
At Sotheby's Auction House, New York City, USA, Bob Dylan's handwritten lyric for his song The Times they Are A-Changin' sells for $422,500 to collector and hedge-fund trader Adam Sender.
Prince reveals during an appearance on late night talk show George Lopez Tonight in Los Angeles, California, USA, that racing champion Lewis Hamilton has spent $100,000 [£61,000] to buy a golden guitar owned by the legendary pop star. The cash will go to Prince's charity The Harlem Children's Zone.
Johnny Marr, best-known as the former guitarist of The Smiths, is banned from driving for 56 days and fined £535. The sentence stems from an incident in April 2011 when he was caught driving at 72mph in a 40mph zone in South Manchester, England, UK, Europe.
Around 500 items from Michael Jackson's rented mansion are sold for almost £1m at Julien's Auctions in Beverly Hills, Los Angeles, California, USA.
A six-minute-long sex tape of UK singer Tulisa Contostavlos giving oral sex to her former boyfriend MC Ultra [real name Justin Edwards] goes online, available to download for £3.90.
Paul McCartney, Mike Oldfield, Dizzee Rascal, Arctic Monkeys, Emeli Sande and others perform live in the London 2012 Olympics opening ceremony, London, England, UK. It is later revealed that all of the live acts were paid £1 each for their perfomances. They had all agreed to play for free, but the £1 fee was necessary to validate their contracts.
The yellow door from Paul McCartney's childhood home at 20 Forthlin Road in Liverpool, England, UK, Europe, is sold at auction for $7,700.It is reported that Ed Sheeran's two companies, Ed Sheeran Ltd and Nathan Cable Touring (of which is sole shareholder and director) have earned him £2m in the past year.
The Kickstarter campaign to fund Neil Young's PonoMusic player closes, having raised over $6m. It had reached its $800,000 target less than ten hours after going live, and now becomes officially the third highest-funded campaign in Kickstarter history.
Writing on his personal blog, Brian May of Queen attacks David Cameron's Conservative government and states that "I only recently realised the full extent of the festering rotten flesh of the over-rich which is poisoning and sucking the life out of Britain."
Deadmau5 puts his Nyan Cat Ferrari 458 Italia on Craigslist with a price tag of $380,000.
A listening session for the Wu-Tang Clan album Once Upon A Time In Shaolin is held at The Museum Of Modern Art, New York City, USA. The album exists as one single copy, and is to be sold to the highest bidder. The group claims to have already received offers as high as $5m, but the eventual sale price will turn out to be considerably less.
Having been arrested for failing to pay child support of $400,000, rapper DMX is sentenced to six months in jail for "violation of certain court orders or conditions of bond in a family violence case," in Buffalo, New York State, USA.
When DJ Khaled unwisely flashes his American Express black card in a Snapchat post, eagle-eyed followers take down the card numbers and make purchases allegedly totalling $80,000.
Mariah Carey becomes engaged to to Australian billionaire James Packer in New York City, USA. Forbes magazine lists Packer's net worth at $3.5-bn, making him the fourth richest person in Australia. 
In court in New York City, USA, William McFarland (aka Billy McFarland), organiser of the ill-fated Fyre Music Festival (2017) in the Bahamas, West Indies, Caribbean, is sentenced to six years in federal prison.
It is announced in the annual Sunday Times Rich List that Ed Sheeran, having doubled his wealth in the last year, is now the 17th richest musician in the UK. In 2018, Sheeran is thought to have earned more than any other musician in a single year in history, from a world tour which brought in box office takings of more than £340m across 94 gigs. Andrew Lloyd-Webber ascends to the No1 slot with £820m, while Paul McCartney slips down to No2 with £750m. The Top Ten Richest UK musicians are as follows :
1. Andrew Lloyd-Webber - £820m
2. Sir Paul McCartney and Nancy Shevell - £750m
3. U2 - £583m
4. Sir Elton John - £320m
5. Sir Mick Jagger - £275m
6. Keith Richards - £260m
7. Olivia and Dhani Harrison - £250m
8. Sir Ringo Starr - £240m
9. Michael Flatley - £204m
10. Sting - £200m
1. Andrew Lloyd-Webber - £820m
2. Sir Paul McCartney and Nancy Shevell - £750m
3. U2 - £583m
4. Sir Elton John - £320m
5. Sir Mick Jagger - £275m
6. Keith Richards - £260m
7. Olivia and Dhani Harrison - £250m
8. Sir Ringo Starr - £240m
9. Michael Flatley - £204m
10. Sting - £200m
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