A Beatles Accountant Quit After Warning the Band They Were in 'Terrible Financial Trouble'

Several higher ups at The Beatles' Apple Records quit in quick succession. One wrote letters to the band to emphasize their dire financial situation.

The Beatles were the most successful band of their time, but they still found themselves mired in financial problems. By the late 1960s, the band dealt with constant infighting, which was not helped by their money problems. After the last of three higher-ups at Apple Corps quit, the band received a warning about their finances. Stephen Maltz, an accountant and financial adviser for the band, stepped away from his position after he warned the band they were in danger.

In the 1960s, the tax laws in the United Kingdom had The Beatles paying 90% of their earnings to the government. This meant that despite the vast amount of money the band brought in, they weren’t necessarily in a good financial position. It didn’t help that their accountants began quitting in droves at the end of the decade.

One of their accountants quit because of John Lennon and Yoko Ono’s Two Virgins cover. Not long after, accountant Harry Pinsker left.

Source: Emma McKee/cheatsheet.com

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