John Oates, one half of Hall & Oates, gets candid about losing his fortune in new memoir

John Oates, one half of the musical duo Hall & Oates, is getting candid about his life as a rock star in the 1970s.

Oates, now 68, revealed in a new memoir, "Change of Seasons," that he was left penniless after decades of lavish spending. He rose to fame in his twenties when he and Daryl Hall won a contract with Atlantic Records in 1972. They became household names for hits like "Possession Obsession" and "Sara Smile"

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The musician found love in an unlikely place -- at a Minneapolis concert. Nancy Hunter, a Ford model, attended the show and caught his eye. They got married in 1983 and settled down in an apartment in Manhattan's West Village area. However, his rock star tendencies caused his marriage to fail:

"I should never have been married in the '80s. She was a successful model and I was running around the world like I was single," he writes.

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Hall & Oates through the years
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Hall & Oates through the years
Portrait of American musicians Darryl Hall (left) and John Oates at the Whitehall Hotel, Chicago, Illinois, November 5, 1981. (Photo by Paul Natkin/Getty Images)
American musicians Darryl Hall (left) and John Oates perform at Park West, Chicago, Illinois, November 22, 1978. (Photo by Paul Natkin/Getty Images)
American musicians Darryl Hall (left), GE Smith (center), and John Oates perform as Hall & Oates at the Hartford Civic Center, Hartford, Connecticut November 1, 1984. (Photo by Paul Natkin/Getty Images)
American musicians Darryl Hall (second left) and John Oates (second right) perform as Hall & Oates with David Ruffin (left), Eddie Kendricks (center), and GE Smith on stage at John F. Kennedy Stadium for the Live Aid Concert, Philadelphia, Pennsylvania, July 13, 1985. (Photo by Paul Natkin/Getty Images)
Daryl Hall and John Oates during 35th Annual Songwriters Hall of Fame Awards Induction - Arrivals at Mariott Marquis Hotel in New York City, New York, United States. (Photo by Theo Wargo/WireImage for Songwriter's Hall of Fame)
Daryl Hall and John Oates of Hall & Oates during 31st Annual American Music Awards - Press Room at The Shrine Theater in Los Angeles, California, United States. (Photo by SGranitz/WireImage)
Daryl Hall, Roselyn Sanchez and John Oates, presenters for Favorite Pop/Rock Album Award (Photo by Michael Caulfield/WireImage)
NEW YORK - DECEMBER 11: John Oates performing at Gotham Magazine's Evening With Daryl Hall & John Oates at The China Club. on December 11, 2006 in New York City. (Photo by Riccardo S. Savi/Getty Images).
Daryl Hall and John Oates during Gotham Magazine and 95.5 PLJ Celebrate Daryl Hall & John Oates First Holiday Album 'Home For Christmas' at China Club in New York City, New York, United States. (Photo by Jamie McCarthy/WireImage for Niche Media, LLC)
BEVERLY HILLS, CA - MAY 20: Musicians Daryl Hall (L) and John Oates arrive at the 56th Annual BMI Pop Awards at the Beverly Wilshire Hotel on May 20, 2008 in Beverly Hills, California. (Photo by Kevin Winter/Getty Images)
NEW YORK, NY - APRIL 10: Icon Award recipients Daryl Hall and John Oates of Hall & Oates perform onstage at the 9th Annual TV Land Awards at the Javits Center on April 10, 2011 in New York City. (Photo by Andrew H. Walker/FilmMagic)
POMONA, CA - OCTOBER 01: Daryl Hall (L) and John Oates perform at the Los Angeles County Fair on October 1, 2010 in Pomona, California. (Photo by Jeff Golden/Getty Images)
NEW YORK, NY - MAY 20: Daryl Hall and John Oates of Hall & Oates perform at The Great GoogaMooga - Day 2 at Prospect Park on May 20, 2012 in New York City. (Photo by FilmMagic/FilmMagic)
HOLLYWOOD, FL - MARCH 08: Daryl Hall of Hall & Oates performs at Hard Rock Live! in the Seminole Hard Rock Hotel & Casino on March 8, 2013 in Hollywood, Florida. (Photo by Larry Marano/Getty Images)
HOLLYWOOD, FL - MARCH 08: Daryl Hall and John Oates of Hall & Oates perform at Hard Rock Live! in the Seminole Hard Rock Hotel & Casino on March 8, 2013 in Hollywood, Florida. (Photo by Larry Marano/Getty Images)
SAN FRANCISCO, CA - AUGUST 11: Musicians Daryl Hall and John Oates of Hall & Oates perform at the Lands End Stage during day 3 of the 2013 Outside Lands Music and Arts Festival at Golden Gate Park on August 11, 2013 in San Francisco, California. (Photo by Jeff Kravitz/FilmMagic)
CANTON, MA - SEPTEMBER 21: (L-R) Daryl Hall and John Oates of Hall and Oates performs during the Life Is Good Festival 2013 at Prowse Farm on September 21, 2013 in Canton, Massachusetts. (Photo by Douglas Mason/Getty Images)
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Hunter, who has remarried since their breakup, also told a similar story.

"We lived an exciting and amazing life. I was in love, I was seeing the world, and I was meeting extraordinary people. Life was good," Nancy recalled. "It was a dream existence for a long while. On the arm of John Oates, the seas would part as we flew the Concorde and private jets to exotic locales."

The couple also purchased several properties, including a farm in Connecticut and a place in Aspen, and pricey cars. One day, his accountant called to tell him he was completely broke. John puts the blame on his former manager Tommy Mottola and lawyer Allen Grubman for not warning him about the dangers of his excessive spending:

"I just wish they'd warned us that the high life we were living would have financial consequences. We weren't cheated; we were seduced," he wrote in his book.

John and Daryl were eventually able to win back some of their plundered fortune and royalties. The two struggled to revive their careers after taking a financial hit, but they did receive a star on the Hollywood Walk of Fame in 2016.

Oates lives a more simpler life these days -- without private jets and fancy homes. He married his second wife, Aimee, in 1995 and they now live in Colorado with their son, Tanner.

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