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Yngwie Malmsteen Net Worth 2024: Here’s How Much Swedish Guitarist Worth?

Yngwie Johan Malmsteen is a well-known Swedish guitarist who belonged to a genre of guitarists in the 1980s who perfected a neoclassical playing style in heavy metal. He has on his name in a career that spanned more than four decades and 22 studio albums. He is also positioned at number 9 of the 10 greatest electric guitar players of all time by Time magazine. 

He changed his name and acquired his mother’s maiden name Malmsten and also tweaked his Yngve to “Yngwie”. Classical music had a big impact on him and in particular, he was deeply influenced by the 19th century Italian virtuoso violinist and composer Niccolò Paganini as well as Johann Sebastian Bach. The person who had the biggest influence on him as a guitarist was Ritchie Blackmore.

Yngwie Malmsteen’s Outstanding Career

Yngwie Malmsteen’s musical career started in 1982 when he was noticed by Mike Varney of Shrapnel Records who heard his demo tapelaying from the 1978 demo titled Powerhouse. Varney took him to the U.S. and he landed a job with band Steeler and played briefly on its 1983 self-titled album. Later he joined hands with Graham Bonnet in the band Alcatrazz, playing on its 1983 debut “No Parole” from Rock ‘n’ Roll and the 1984 live album “Live Sentence”.

Later Bonnet and Malmsteen had an altercation on the vexed question of who was the frontman and lost his job with Alcatrazz and was replaced by Steve Vai. His first solo album was released in 1984 and was titled “Rising Force ”, which featured Barrie Barlow of Jethro Tull on drums and keyboard player Jens Johansson. On paper, it was an instrumental side-project of Alcatrazz, which eventually turned out to be  an album that also featured vocals by Jeff Scott Soto. Eventually, Malmsteen left Alcatrazz soon after the release of “Rising Force”.

Interestingly “Rising Force ” bagged the Guitar Player’s award for Best Rock Album and even found its way into the nomination of the Grammy awards and reached the number 60 spot on the Billboard album chart. His band acquired the name Rising Force after the incredible success of the album. In 1985 he released his second album “Marching Out” and later roped in Jeans Johansson’s brother Anders to play drums and bassist Marcel Jacob to record and tour with the band.

However, Jacob parted ways in the middle of the tour and was replaced by Wally Voss. His third album was named “Trilogy” which was released in 1986 and featured vocals of Mark Boals with Malmsteen on both guitar and bass.

Again Boals left the band in the middle of the tour and was replaced by Jeff Scott Soto. However, tragedy struck when Malmsteen was involved in a serious car accident when his V12 Jaguar E-Type crashed into a tree and he went into a coma for more than a week. The accident ultimately led to the cancellation of the tour.

.The accident damaged the movement of his right hand. More tragedy happened when Yngwie Malmsteen’s mother succumbed to cancer. Later former Rainbow vocalist Joe Lynn Turner joined the band along with session bassist Bob Daisley. Bob Daisley was roped in to help with the bass parts and the lyrics. Yngwie Malmsteen released his fourth album titled “Odyssey”. It became an overnight hit and the most popular was its first single “Heaven Tonight”.The “Rising Force” entity ended in 1989 when both Anders and Jens left.

In the early 90’s Malmsteen in partnership with singer Göran Edman brought forth two albums named “Eclipse” in 1990 and “Fire & Ice” in 1992. With former Loudness singer Mike Vescera, he released two albums -“The Seventh Sign” in 1994 and “Magnum Opus” in 1995. However, by the late 90’s heavy metal styles such as neoclassical metal and shredding had gone out of fashion in the US.

Yngwie Malmsteen and his unique neoclassical style of metal became a benchmark for multitudes of guitarists during the mid-1980s. The prominent contemporaries of his age which included Jason Becker, Paul Gilbert, Tony MacAlpine, and Vinnie Moore were all influenced by his style. In 1988 his guitar was released by Fender Stratocaster making him and Eric Clapton the first artists to be honored by Fender.

How Much is Yngwie Malmsteen’s Net Worth?

Yngwie is one of the wealthiest Guitarists in Sweden. As per Celebrity Net Worth, Yngwie Malmsteen’s net worth is $10 Million.

Also Read: David Magerman Net Worth 2023: Here’s How Much The Computer Scientist and Philanthropist Worth?


Malmsteen was married to Swedish singer Erika Norberg (1991–1992)[23] and later married to Amber Dawn Landin (1993–1998. In 1999 he married to April Malmsteen and the couple has a son named Antonio, after Antonio Vivaldi. The Malmsteen family now resides in Miami Shores, Florida.

Wiki Biodata

Birth nameLars Johan Yngve Lannerbäck
Born30 June 1963 (age 60)
Place Of BirthHässelby-Vällingby, Sweden
GenresHeavy metal, neoclassical, metal, hard rock
Occupation(s)Musician band leader, producer
Years active1978–present
LabelsPolydor, PolyGram, Elektra, Universal Mascot
Member ofGeneration Axe
Formerly ofSteeler, Alcatrazz

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