Eminem: Good with Money

Even as a millionaire, the superstar practices thrift.

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It turns out that Eminem, the superstar rapper from Detroit, is secretly thrifty.

In a lengthy profile based around his new album, London's Independent newspaper reports that even as a millionaire, Eminem worries about spending money on himself. A friend shared this story:

"After his second album he was in the jewellery store. He really liked a watch, but was worried that he'd not be able to afford it, so called his manager, Paul Rosenberg, to check he had enough cash. The watch turned out to be $15,000. At the time, Em was one of the hottest artists on the planet. He was worth millions. So Paul told him not to be silly, and just buy the watch.

"But Em was like, 'I don't want to run out of money, I want my daughter to be able to go to college.' That's really tells the kind of guy he is. I think fame surprised him. I don't think he really had realised who he was what kind of money he had, and what he'd achieved, until suddenly he woke up one day as the biggest star in the world. Whoever you are, that's going to make you a bit nuts."

A $15,000 watch might sound a bit indulgent. But for someone with a bank account the size of the Grand Canyon, it's like one of us normal people deciding to buy a latte. So I'm impressed with Mr. Mather's frugality. But I do have one question. Since when do managers double as personal finance advisers? I hope Eminem has hired some additional expertise by now.