In the late 1980s, few rock stars were as magnetic as Michael Hutchence. With his sultry voice, wild curls, and brooding charisma, he was the face of INXS, a band that seemed unstoppable. They sold out stadiums on multiple continents, topped charts around the world, and lived the kind of excess-filled life that defined the era’s biggest acts. By the mid-1990s, Hutchence was more than a singer — he was a global celebrity, photographed at fashion shows, courted by movie directors, and linked romantically to some of the world’s most famous women.
When Hutchence died in November 1997 at just 37 years old, it was a shock felt far beyond the music world. In the years leading up to his death, INXS had sold tens of millions of albums, and Hutchence had built a personal fortune that one would assume would be worth millions or even tens of millions of dollars. But for reasons we’ll explain in a moment, that was not the case. An executor would later claim that when Michael died, he was “virtually broke.” Ok fine. Maybe he lived like a rockstar and spent every penny, but surely in the decades that have passed, his heirs, primarily his daughter, Tiger Lily (who was 16 months old when he died) have received significant royalties and other assets, ensuring she has been and will be financially secure for life? Unfortunately no.
In the decades since his death, Hutchence’s family has claimed they have never seen a cent of his fortune. Legal battles, offshore trusts, and a tangled web of business dealings have left them empty-handed. What happened to Michael Hutchence’s millions remains one of the great unsolved mysteries in rock and roll.
(Photo by David Redfern/Redferns/Getty)
Peak of INXS
INXS formed in Sydney in 1977 under the name “The Farriss Brothers,” with Michael Hutchence on lead vocals, Andrew Farriss on keyboards and guitar, Tim Farriss on lead guitar, Jon Farriss on drums, Garry Gary Beers on bass, and Kirk Pengilly on guitar and saxophone. Two years later, they adopted the name INXS and began climbing the ranks of Australia’s vibrant pub rock scene. Their blend of rock, pop, and funk quickly stood out, earning them a record deal and a loyal following.
The band’s breakthrough came in 1985 with the album “Listen Like Thieves,” which featured the hit single “What You Need” and marked their arrival on the U.S. charts. But it was the 1987 album “Kick” that made them global superstars, selling more than 20 million copies worldwide and producing four U.S. top 10 hits: “Need You Tonight,” “Devil Inside,” “New Sensation,” and “Never Tear Us Apart.” At the creative core of these successes was the songwriting partnership between Hutchence, who penned the lyrics, and Andrew Farriss, who composed the music. Together, they co-wrote nearly all of the band’s biggest hits — a fact that would become increasingly significant over time, given the enduring commercial value of music publishing and performance rights.
By the early 1990s, INXS had released multiple multi-platinum albums, played to sold-out stadiums across the globe, and sold more than 50 million records worldwide. At their height, Hutchence’s charisma, Pengilly’s signature saxophone lines, the Farriss brothers’ musicianship, and Beers’s driving basslines made INXS one of the most successful and recognizable bands of the era. It seemed like the peak would last forever — but within a few years, everything would change.
The Will and the Promise
Tragically, Michael Hutchence died on November 22, 1997, at the age of 37, by suicide in a Sydney hotel room. During his life, he had one child, Heavenly Hiraani Tiger Lily, known simply as Tiger Lily, who was born in 1996 to Hutchence and British television presenter Paula Yates. At the time of his death, Hutchence’s personal fortune was estimated at around $13 million, the equivalent of roughly $27 million today.
Hutchence’s will was explicit about how that fortune should be divided. Half of his estate was to go to Tiger Lily, and the rest was to be split equally — 10% each — between his mother Patricia, father Kel, brother Rhett, half-sister Tina, and Paula Yates. Two charitable bequests of $250,000 each were also included for Amnesty International and Greenpeace. On paper, the arrangement ensured that Tiger Lily would grow up financially secure, that the rest of the family would share in his success, and that his chosen charities would benefit from his legacy.
In reality, none of those expectations were met. Amnesty and Greenpeace reportedly never received their donations, and the Hutchence family says they never saw a cent from the estate.
The Day Everything Changed
In the days following Michael’s death, his brother Rhett claims that long-time business associate and friend, Colin Diamond, went to the Rose Bay police station and collected all of Michael’s personal effects from the hotel room where he died. According to Rhett, police had inventoried 169 items, including clothing, luggage, and personal belongings. The family received only one item back: the belt Michael used to take his life.
This was the beginning of a decades-long dispute over Michael’s possessions, image rights, and music royalties. Rhett has alleged that Diamond kept these items and other valuable materials, including Michael’s personal diary, with the intention of profiting from them at a later date.
A Fortune That Disappeared
After Michael’s death, his family fought in court for their share of the estate. The legal battle lasted eight years and ended with an unexpected conclusion: the executor informed them that Michael was “virtually broke” when he died. The explanation lay in a complex network of offshore trusts and holding companies that controlled Michael’s assets. Chief among these was Chardonnay Investments, a British Virgin Islands company established in 1992, which at the time listed Hutchence’s father as a beneficiary.
Court filings revealed that Michael himself was not a beneficiary of some of these structures, which advisers said was deliberate, allegedly to prevent relatives or girlfriends from accessing his fortune. This arrangement was in direct conflict with the wishes stated in his will.
The Paradise Papers Revelation
In 2017, the massive “Paradise Papers” leak of offshore financial documents brought new details to light. The papers showed that in 2015, Colin Diamond set up a company in Mauritius called Helipad Plain to exploit Michael’s “sound recordings, images, films, and related material” for the 20th anniversary of his death. Internal emails from offshore law firm Appleby described Diamond as the beneficial owner of Michael’s material and entitled to deal with it. Notably, there was no mention of Tiger Lily or any trust for her benefit.
Appleby rated Helipad Plain a “high risk” client due to Diamond’s litigation history and concerns about possible misuse of assets. The files also revealed that Chardonnay Investments had, in a settlement with Michael’s estate, been assigned all intellectual property rights, giving Diamond ultimate control. While rights to INXS’s recordings are held by Atlantic Records and Universal Records, and songwriting/publishing rights are now owned in perpetuity by Warner Chappell Music after a buyout from Diamond, Chardonnay still claims rights to some songs and other material.
The Diary and “The Last Rockstar”
Later in 2017, Australian network Channel Seven aired a two-part special called “Michael Hutchence: The Last Rockstar.” The program featured Diamond reading from Michael’s diary, which contained song lyrics and private thoughts in the weeks leading up to his death.
For Michael’s family, this was the first time they had ever seen the diary. Rhett accused Diamond of holding it for 20 years to ensure there was nothing in it that could harm him. He alleged that its televised debut, along with the release of 15 previously unheard songs, was timed to coincide with the anniversary of Michael’s death for maximum commercial impact.
The Unfinished Business
Tiger Lily has reportedly received some payments from Diamond over the years, but the Hutchence family claims these amounts are far less than what she is owed in royalties and estate income. The rest of the family, despite being named in Michael’s will, says they have received nothing.
Diamond has maintained that Michael did not want his relatives to inherit his fortune. That position is directly contradicted by the terms of the will, which also provided for charities that never received their bequests.
Nearly three decades later, the fate of Michael Hutchence’s millions remains locked in a tangle of offshore trusts, settlements, and unanswered questions. The man who once commanded the world’s biggest stages left behind a daughter, a towering musical legacy, and a mystery that may never be fully solved.
