The 50-year-old opened up about his secret side hustle, which he says started back in the nineties.
The pop star admitted he thought he was skint, until his dad told him he had been saving his money for him – teaching him a valuable lesson.
Speaking to Chris Evans, on Virgin Radio, Pete said: “I remember one day in the mid-nineties I went home to Dad, I had partied, done all those things when you are in your twenties, you are young, you just don’t think and you are not investing
“I went home one day and I said ‘dad’, this must have been about ‘94/ 95, before things started happening in England and I said ‘dad, I don’t have anything’, and he turned around and said ‘I hope you have learnt this lesson’ and I said ‘what am I going to show’.
“He said ‘luckily enough I saved for you’ and all these royalties that were coming in, that I had no idea about, Dad saved and I had enough to buy two or three great properties. So I started buying properties from before things happened here.
“And thankfully, years later now, a lot of people go to me ‘how are you doing ok, you had songs in the 90s’, a lot of it is property. I was very lucky to buy property since the 90s.”
Pete is said to be worth a huge £16 million, thanks to his various ventures over the years, including his pop career and stint on I’m A Celebrity.
He currently lives in a mansion in Surrey with wife Emily and his children Amelia, Theo, Princess and Junior.
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