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Kevin Jonas is getting candid about a financial low point that nearly wiped out his fortune. The 37-year-old musician says he lost “most” of his money after making a string of failed investments during the Jonas Brothers’ hiatus nearly a decade ago, ventures that included luxury real estate and tech startups.
During a recent episode of The School of Greatness podcast with host Lewis Howes, Kevin was asked: “You almost lost all your money?” The singer responded: “Yeah, most of it, down to like the one 10 per cent left.”
Kevin, who formed the Jonas Brothers with his younger siblings Joe Jonas and Nick Jonas in 2005, explained that his financial difficulties stemmed from several unsuccessful investments, including a luxury real estate venture called JonasWerner.
The company, which he co-founded, focused on high-end properties in Manhattan, New York. However, the partnership ultimately didn’t pan out.He explained: “I invested in a bunch of property and was doing other things I was building at the time."
He continued, "Sadly, it wasn’t the right partnership, if you know what I’m saying. Can’t really get too much into it, but the sad part of it is I’ve learned a lot of lessons in that.”
After the Jonas Brothers temporarily broke up in 2010, Kevin shifted his attention to real estate, even listing a custom-built mansion in Montvale, New Jersey, for $2.6 million six years later. He eventually de-listed it, then relisted the property in 2018, and reportedly sold it in 2020 for a $1 million profit.
In addition to real estate, Kevin also tried his hand in the tech space. He invested in the now-defunct food app Yood and partnered with a startup called We Hear It.
Reflecting on that chapter of his life the singer said, “I was trying to do something meaningful during the break. I had the right intentions, but I didn’t have the right guidance.”
Fortunately, the tide has turned. The Jonas Brothers are back on the road for a new tour and are gearing up to release their seventh studio album, Greetings from Your Hometown, on August 8th.
Kevin added: “I learned this lesson, never wanted to learn it, but I did. But then, at the same time, reevaluated how to approach life and, from that perspective, and look into the future. At the same time, I was able to really feel honored that we could have a second shot at it.”