The singer's company's latest financial figures are extremely healthy, according to The Sun.
George Michael is apparently still raking in millions despite currently being in rehab seeking effective treatment for addiction in Switzerland, a new report suggests.
Though the former Wham! Singer and multi-platinum seller hasn’t released an album since early last year, he’s still earning a great deal of money through sales and royalties, even though he’s been holed up in the sanctuary of one of the most expensive rehab centres in the world, the Kusnacht Practice in Zurich, since the summer.
An unnamed source close to the 52 year old singer told The Sun: “It’s quite incredible George is still making millions even though he has not been working.”
George Michael pictured in London in 2013
“We know he’s desperate to get back to work by next year, especially because it will be the 30th anniversary of Wham! splitting up and George going solo. But the absolute priority for him and his team is his health as there’s clearly no rush about him getting back to work.”
The most recent financial figures of Michael’s company, Nobby’s Hobbies Holdings Ltd., of which he is the sole shareholder, has assets of £5.9million, £400,000 in cash and £5.5 million in money owed. With outgoings of £1.7 million, it leaves the singer with a glowing profit of £4.1million.
Though he checked into rehab a number of months ago, in July this year Michael was forced to deny rumours initiated by a distant family member that he was seeking a cure for a crack cocaine addiction. The singer’s management released the following statement at the time.
“Whilst it is our general policy not to comment on private matters, we would in this instance note that these highly inaccurate stories have been apparently provided to the press by the wife of a very distant family member, neither of whom has had any dealings with him for many many years. It is therefore unsurprising that they are so incorrect.”