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Money

A fire destroys the Treasury building, the Post Office Savings Bank and a bonded warehouse in Port Of Spain, Trinidad. A river of fire caused by 365,000 gallons of rum floods into the streets and runs into the harbour. The event will provide the inspiration for the calypso songs The Treasury Fire by Lionel Belasco and Fire, Fire In Port Of Spain by The Caresser.
The Mills Brothers record Pennies From Heaven and Swing For Sale for Decca Records in the USA.
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.
The trial of America's most influential deejay, Alan Freed, indicted by the Manhattan Grand Jury on charges of accepting $30,650 in payola, opens.
The Beatles earn £7 10s for a gig at Litherland Town Hall, Liverpool, UK.
Bob Dylan spends the first of three days recording his debut album, Bob Dylan, at Studio A, Columbia Records, Seventh St, New York City, USA. Total cost runs to $400. On this day, he records several takes of House Of The Rising Sun.
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.
The Four Pennies play at the Oasis Club, Lloyd Street, Manchester, UK, supported by The Stylos.
George Harrison celebrates his 21st birthday on the same day that The Beatles begin recording tracks for their first movie, A Hard Day's Night in EMI's Abbey Road Studios, London, UK. The first two songs taped are Can't Buy Me Love and You Can't Do That.
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The Who play their regular residency at The Marquee, Soho, London, England, UK.
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Frank Sinatra, Barbara Stanwyck and other celebrities attend a ceremony at Goldwyn Studios, Hollywood, Los Angeles, California, USA, to thank Elvis Presley for donating $50,000 to the Motion Picture Relief Fund.
The Kinks record Sunny Afternoon and Fancy at Pye Studios in London, UK.
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The Jimi Hendrix Experience are moved to the top billing slot on the second of six nights at The Fillmore West, San Francisco, California, USA, with the original headline band, Jefferson Airplane, moved to the second slot. Hendrix and his band are given a $2000 bonus.
UK pop weekly the NME [New Musical Express] reports that the Robert Stigwood Organisation (which manages Cream, The Bee Gees and others) has acquired a £150,000 interest in Rik Gunnell Management, which looks after Alan Price, Georgie Fame, Fleetwood Mac and others.
Brian Jones of The Rolling Stones is fined £50 in court in London, England, UK, Europe, for possession of marijuana. Mick Jagger and Keith Richards attend the trial.
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To take account of changes in The Beatles financial organisation, The Beatles (U.S.A.) Limited fan club changes its name to The Beatles Fan Club Division of Apple Music Publishinhg Co. Ltd.
John Cummings collects a $50 Mosrite guitar which he bought the previous day at Manny
George Harrison, former guitarist of The Beatles, publishes I, Me, Mine, a leather-bound limited edition autobiography, selling at a mere £148.
RCA Records in the USA signs a $30m recording deal with Puerto Rican band Menudo.
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.
Michael Jackson's Thriller video, which cost over $1m to make, is premiered at The Metro Theater, Westwood, California, USA.
Jerry Lee Lewis surrenders to Federal Authorities in the USA who are pursuing him on charges of tax evasion. After posting bail of $100,000 he is released.
REO Speedwagon and Survivor play at The Spectrum, Philadelphia, Pennsylvania, USA, earning a gross of $162,448.
The Rovers play at Kleinhans Music Hall, Buffalo, New York State, USA, where they earn a gross of $29,290 SRO.
After mooning at the crowd during an Augusta, Georgia, USA, concert, Tommy Lee, drummer of Motley Crue, is arrested and charged with indecent exposure. He is freed on $1,680 bail.
It is reported that tax authorities in Walworth County, Wisconsin, USA, are in pursuit of Axl Rose of Guns N'Roses who owes $7,095 in property taxes dating back over the past four years, and could lose a 10-acre lot he owns in southern Wisconsin if he doesn't pay up. Tax demands sent by the county treasurer's office to Rose's registered address in Encino, California, have been returned with no forwarding address. Rose has until July 15 to pay the taxes or face foreclosure.
OK magazine’s annual Rich List reveals Sir Elton John to have been the UK’s highest earning entertainer in the previous year, having raked in £33m during 2004. The Osbournes come in second with £20m and American Idol/Pop Idol judge Simon Cowell is third with £18m.
A lwasuit - Parks vs LaFace Records - brought on behalf of civil rights campaigner Rosa Parks against the hip-hop duo Outkast and their producer and record labels, is settled with Parks being paid an undisclosed cash settlement and the duo agreeing to work with the Rosa and Raymond Parks Institute for Self Development in creating educational programs about the life of Rosa Parks. The record labels and Outkast admitted to no wrongdoing.
It is reported that the lakeside home owned by Johnny Cash and his wife June Carter, where the couple lived for 35 years, is up for sale with a price tag of $2.9m.
Bon Jovi play on the opening night of the new $21m Nokia Theatre Times Square, New York City, USA, supported by Marc Broussard. The concert is broadcast by Network Live.
The Performing Rights Society announces that British rock and pop artists earned a record £139.6m in overseas royalties in the past year, up from £121m in 2007. The Police were the top-earning tour act, ahead of Iron Maiden and Coldplay.
A Swedish court jails Frederik Neij, Gottfrid Svartholm Warg, Carl Lundstrom and Peter Sunde, the men behind The Pirate Bay (TPB), the world's most high-profile file-sharing website. The four are found guilty of breaking copyright law, sentenced to a year in jail and ordered to pay $4.5m (£3m) in damages. Record companies welcome the verdict but the men are to appeal and Sunde says they will refuse to pay the fine.
When the liner Queen Mary 2 sets sail from New York City to Southampton, UK, singer-songwriter James Taylor is aboard. During the six-day journey Taylor and his band play two concerts in the ship's Royal Court Theatre, as part of a deal with the Cunard Line to transport the group across the Atlantic in return for the performances.
It is reported that Robbie Williams is putting his 18th century Wiltshire, UK, mansion up for sale at £1m less than the £8.5m he paid for it earlier in the year. The report says he plans to return to living in Los Angeles, California, USA.
The annual Sunday Times Rich List reveals that Warner Music Group chairman Edgar Bronfman has leapt to the top of the 2010 Sunday Times British Music Millionaires list, making him the 25th richest person in Britain. U2, the world's highest earning act last year, and their manager Paul McGuinness head the Irish Music Millionaires Rich List with a combined wealth of £429m. Charlotte Church is the UK's most successful young singer of the past year with earnings of £11m.
Sources in the City Hall, Barcelona, Spain, Europe, reveal that U2 has paid a fine of 18,000 euros [$22,000, £14,723] for playing too long and too loudly during rehearsals in the city a year earlier.
The 19th annual Polar Music Prize is presented to Italian conductor and composer Ennio Morricone and Islandic artist Bjork, by His Majesty the King of Sweden in a televised ceremony at the Stockholm Concert Hall, Stockholm, Sweden, Europe. Morricone and Bjork each receive prize money of 1m Swedish kronor [USD 122 000/EUR 92 000.]
Francesca Spero, a former executive at P. Diddy's Bad Boy Records company, files a $12m lawsuit in New York City, USA, against her ex-employer, claiming that after she told him she needed hip surgery, he froze her out of her position at the company and eventually sacked her.
The 1-800-Law-Firm of Michigan, USA, files a $5m (£3.1m) class action lawsuit against Lady Gaga claiming that she is profitting from the sale of charity wristbands created to raise funds for earthquake relief efforts in Japan, Asia. The lawsuit alleges that Gaga has overcharged fans for shipping costs on the wristbands and pocketed some of the extra postal costs.
It is reported that Beyonce and husband Jay-Z have already spent $1m on their four-day-old daughter Blue Ivy Carter. The spend includes a $400,000 solid gold Ginza Tanaka rocking horse, a $10,000 Swarovski-studded high chair by Carla Monchen, a $30,000 Fantasy 'posh tots' coach carriage crib, a $20,000 windmill-style garden playhouse and a mini Bugatti car. The couple have spent a further $240,000 to ensure that the nurseries in each of their three homes are identical so the baby will feel at home when they travel around America.
The Sunday Times Rich List reveals Adele to be the UK's richest young musician with a £30m fortune. Sir Paul McCartney is wealthiest music millionaire overall with £680m. Ed Sheeran, who will top the list a few years later is at joint 17th in the young musicians' section with £5m, along with the members of One Direction and Emeli Sande.
Hillary Clinton is among the guests at the Elton John AIDS Foundation's 12th Annual An Enduring Vision Benefit at Cipriani, Wall Street, New York City, USA.
It is announced in Los Angeles, California, USA, by insurance broker Lloyds Of London that their $17.5m breach of contract lawsuit against the estate of Michael Jackson has been settled.
Three of singer/songwriter Paul Weller's children win £10,000 in damages from Associated Newspapers in connection with The Daily Mail's publication of paparazzo pictures of Weller and his family on a shopping trip in Santa Monica, California, USA.
Spotify drops a totally silent LP called Sleepify, by a Los Angeles funk band called Vulfpeck, citing "violations of the service's content policies" as a reason. The album was intended as a protest against Spotify as well as a means of raising tour funding. Up to the time it was pulled off Spotify it had been streamed 5.5m times, earning the band almost $20,000.
It is reported that Yoko Ono, artist and widow of John Lennon, withdrew her $6.7m lawsuit against a West Village, New York City, USA, co-op board last month, one day after she sold her apartment there for a more-than-expected $8.3m.
In a fund-raising effort for World Elephant Day The Nature Conservancy auctions a Martin D-28 left-handed guitar autographed by Sir Paul McCartney, provided by Martin Guitars. In a reference to the famous inscription on Woody Guthrie's guitar, Sir Paul has written 'This Guitar Saves Elephants' on the body of the instrument. The instrument sells for $50,000.
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.
After a four-year-long police investigation, music promoter Andrew McManus of One World Entertainment is arrested in Melbourne Airport, Melbourne, Australia, Oceania, on charges relating to alleged connections with drug trafficking and money laundering.
Rihanna and her billionaire Saudi Arabian boyfriend Hassan Jameel are spotted househunting during a holiday in Paris, France, Europe. Paris is a good midway point between New York, where Rihanna often works, and Hassan's home base in Saudi Arabia.
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