Kevin Jonas once lost 'almost all' of his money on a 'bad business deal': 'It just wasn’t the right
Kevin Jonas once lost 'almost all' of his money on a 'bad business deal': 'It just wasn’t the right partnership'

Kevin Jonas once lost ‘almost all’ of his money on a ‘bad business deal’: ‘It just wasn’t the right partnership’

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Kevin Jonas once lost ‘almost all’ of his money on a ‘bad business deal’: ‘It just wasn’t the right partnership’

Kevin Jonas says he almost went broke after a “bad business deal” The Jonas Brothers will celebrate 20 years of the band in August. Jonas: “I’ve seen the beginning of the success, to financial success, not knowing what money really was” Financial pros say even money-smart people can get into a bad situation if they enter into a business partnership without proper vetting, says Nathan Sebesta, a certified financial planner and owner of a financial services firm in Artesia, New Mexico.

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In August, Kevin Jonas will embark on an international tour with his brothers as they celebrate 20 years of the Jonas Brothers. Since the band signed with its first record label in 2005, three of its albums have charted No. 1 on Billboard’s Hot 200 and the group has won two American Music Awards and received two Grammy nominations.

But less than a decade ago, while the band was broken up, Jonas almost went broke after a “bad business deal,” the 37-year-old singer and guitarist said in a recent episode of “The School of Greatness” podcast, hosted by Lewis Howes.

“I’ve seen the beginning of the success, to financial success, not knowing what money really was and understanding it, to losing almost all of it,” Jonas said.

Around nine years ago, Jonas said he “invested in a bunch of property and doing other things, and I was building at the time, and sadly it just wasn’t the right partnership.” The deal left him with only around 10% of his money remaining, he said.

Jonas said he couldn’t provide many details on what went wrong, but the experience was a life lesson he “never wanted to learn.”

He has since bounced back. In the years following the failed partnership, he worked on other ventures in media and real estate, and in 2019, the Jonas Brothers reunited. The band’s comeback single “Sucker” hit No. 1 on the Billboard Hot 100 around two weeks after its release in March 2019, and since, the band has released two studio albums, with their next set to come out in August.

“Thankfully for life in general, we had a second shot … with the band coming back together,” Jonas said.

Speaking to Jonas’ strengths on “The School of Greatness” podcast, his brother, Nick, said Jonas is “very wise financially,” and manages the bulk of the band’s day-to-day finances.

But even money-smart people can get into a bad situation if they enter into a business partnership without proper vetting, says Nathan Sebesta, a certified financial planner and owner of Access Wealth Strategies, a financial services firm in Artesia, New Mexico.

Here’s how to protect yourself from financial fallout before you get wrapped up in a business deal with the wrong partner or the wrong provisions, according to financial pros.

Source: Cnbc.com | View original article

Source: https://www.cnbc.com/2025/07/22/kevin-jonas-once-lost-almost-all-of-his-money-on-a-bad-business-deal.html

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