Financial Woes
By that September, Pink Floyd’s financial situation was the worst it had been since the band’s formation in 1965. The band’s financial planners, the Norton Warburg Group (NWG), had invested most of the band’s money into high-risk portfolios in an attempt to reduce their tax liabilities. But the plan backfired. Not only did the portfolios decrease in value, but the band potentially faced incredibly high tax rates, with some rates reaching a whopping 83 percent.
Pink Floyd performing in the ‘60s. Photo by Dezo Hoffman / Shutterstock
All the money they made from “The Dark Side of the Moon” was wiped clean. The band realized that they needed to produce their next album as quickly as possible to avoid going bankrupt. Roger brought in a producer and collaborator, and Pink Floyd got to work.