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Peter Garrett, one of Australia’s most distinctive cultural voices, has built an impressive career in music, politics, and activism.
As of 2025, his net worth is estimated at around US $10 million, with some reports suggesting it may be closer to US $15–20 million when recent royalties and property sales are included.
Fans are drawn to this figure because Garrett’s journey is a rare blend of rock‑star success, public service, and long‑standing environmental advocacy.
A Life Shaped by Music and Conviction
Peter Robert Garrett was born on April 16, 1953, in Wahroonga, Sydney.
His early life was marked by tragedy, losing both parents at a young age — a story he spoke about in a 2024 interview on Australian Story, saying:
“I just try and honour her memory. But I didn’t let myself get defined by that… I needed to keep moving again.”
Raised in a family that valued both intellect and art — his father was a doctor and his mother an artist — Garrett attended Barker College and later studied arts and law at the Australian National University.
During these years, he became active in anti‑uranium campaigns and Indigenous rights movements.
Midnight Oil: A Band That Made History
Garrett’s musical path began in 1973 when he answered an ad placed by drummer Rob Hirst and guitarist Jim Moginie.
Together with guitarist Martin Rotsey, they formed Midnight Oil, a band that would become synonymous with protest rock.
Known for his towering 6’3” frame, bald head, and energetic dancing, Garrett led the band through albums like Diesel and Dust and Blue Sky Mining.
Songs like “Beds Are Burning” and “Blue Sky Mine” were not just hits but rallying cries for justice and environmental care.
The band’s guerrilla performance outside Exxon’s headquarters after the Valdez oil spill remains one of the most iconic protest moments in rock history.
Midnight Oil earned 11 ARIA Awards and a place in the ARIA Hall of Fame in 2006.
From Stage to Parliament
In 2004, Garrett moved from music to politics, winning the seat of Kingsford Smith for the Australian Labor Party.
He served as Minister for the Environment, Heritage and the Arts under Kevin Rudd and later as Minister for School Education, Early Childhood and Youth under Julia Gillard.
In a 2015 podcast promoting his memoir Big Blue Sky, Garrett reflected on his transition:
“I knew I was stepping into a tough arena, but I believed government could make real change. That’s why I went in.”
During his tenure, he worked on programs like the Building the Education Revolution and fought for stronger conservation policies.
Despite criticism over the home insulation scheme, a royal commission later confirmed Garrett had raised safety concerns with the Prime Minister’s office well before incidents occurred.
How Peter Garrett Built His Wealth?
- Music Earnings: Royalties from Midnight Oil’s 11 studio albums and reunion tours.
- Solo Projects: Albums such as A Version of Now (2016) and The True North (2024) added to his income.
- Book Sales & Speaking: His memoir and frequent speaking engagements on sustainability and music.
- Real Estate: Property deals in New South Wales, including a home in Paddington bought for AU$2.7 million and later sold for AU$5.25 million.
Unlike many celebrities, Garrett has avoided flashy endorsements and instead invested in ventures aligned with his ethics.
Assets and Lifestyle
Garrett and his wife Doris Ricono‑Garrett have lived on the NSW South Coast, keeping a private and grounded family life with their three daughters — Emily, May, and Grace.
Grace designed the cover for The True North and, along with May, provided backing vocals.
Real estate sales and royalties are the main contributors to his wealth, but Garrett remains known for his modesty.
He often speaks about how music and causes matter more than material indulgence.
Legacy and Ongoing Influence
At 70, Garrett shows no signs of slowing. His 2024 album The True North reflects decades‑long themes of environmental stewardship and Indigenous rights. On Australian Story, he admitted with a smile:
“I’m a bit surprised that I’m making a record now… but I’ve still got this real energy to do it.”
Whether on stage or in parliament, Peter Garrett has used his voice to push for a better world.
His US $10 million net worth is not just the result of sales and salaries but a testament to a career built on passion, resilience, and integrity.
