Billy Joel - Billy Joel Clarifies Bankruptcy Rumours

Singer Billy Joel has clarified reports he filed for bankruptcy a few years ago after allegedly going broke.

The Piano Man was rumoured to have lost millions of dollars in 2010 because of his ex-brother-in-law Frank Weber's poor money managing skills, but Joel has now set the record straight in a new interview with the New York Times Magazine.

He says, "There was a rumour that I filed for bankruptcy - that never happened. I owed Uncle Sam (the U.S. government) a couple of million bucks in income tax, and the money that I thought was there (in the bank account), wasn't there."

Joel also addressed speculation he was forced to sell off one of his Big Apple homes to pay off the debts, insisting he simply owned too many properties - two in Manhattan and one under construction in the Hamptons.

He sold one home to rock star Sting and another the one he was building to comedian Jerry Seinfeld.

The singer jokes, "I keep exchanging star homes. I bought (Jaws star) Roy Scheider's house. Mickey Drexler (retail tycoon) bought my old place in Martha's Vineyard (Massachusetts). I'm the realtor to the stars."


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