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Billy Joel clarifies bankruptcy rumors

WENN, Friday, May 24, 2013, 2:55pm (PDT)
  • Singer Billy Joel has clarified reports he filed for bankruptcy a few years ago after allegedly going broke.

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    The Piano Man was rumored to have lost millions of dollars in 2010 because of his ex-brother-in-law Frank Weber's poor money managing skills, but Joel has now set the record straight in a new interview with the New York Times Magazine.

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    He says, "There was a rumor that I filed for bankruptcy -- that never happened. I owed Uncle Sam a couple of million bucks in income tax, and the money that I thought was there [in the bank account], wasn't there."

    Joel also addressed speculation he was forced to sell off one of his Big Apple homes to pay off the debts, insisting he simply owned too many properties -- two in Manhattan and one under construction in the Hamptons.

    REALTED: Celeb house swap

    He sold one home to rock star Sting and another the one he was building to comedian Jerry Seinfeld.

    The singer jokes, "I keep exchanging star homes. I bought ["Jaws" star] Roy Scheider's house. Mickey Drexler [retail tycoon] bought my old place in Martha's Vineyard. I'm the realtor to the stars."

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