Boomtown Rats frontman Bob Geldof and Ultravox guitarist Midge Ure had teamed up in 1984 to write the Band Aid single ‘Do They Know It’s Christmas?’ in response to a tragic Ethiopian famine which left over 1.2 million people dead. It quickly claimed the number one spot in the UK charts, where it remained for five weeks – and a whopping 12 million copies of the song were sold around the world.

However, how much of the song’s huge profits went into Bob Geldof’s pocket? Fans were open-mouthed when the singer-turned-political activist made the revelation that he hadn’t seen a single penny. He set the record straight in 2019, claiming he was “sick of” rumours that the song’s continuing success was contributing to his wealth, and arguing that they might deter people from buying the track in future. Talking to LBC’s James O’ Brien, he suggested that the fate of the world’s poorest people depended on the track, exclaiming: “We’ve put up with this for quite a long time and Midge and I just got sick of it yesterday, because it’s dangerous.

“Every year at Christmas, Band Aid receives thousands of pounds, if not hundreds of thousands, and over 35 years it’s been tens and hundreds of millions and that is because the record constantly plays!”

He reiterated: “It constantly generates money for the poorest people in the world, and like we said on the BBC morning show 35 years ago, 100% will go to those people. I can reiterate that and Midge is here to confirm. There’s six of us in Band Aid. None of us have taken a cup of coffee out of that money…”

LBC also published an additional statement from a spokesperson clarifying that the profits have instead been distributed to “projects that aim to help the poor in several countries in Africa”.

It read: “To be perfectly clear neither Midge nor Bob have ever received a single penny in royalty revenues from the song or any activity whatsoever regarding Band Aid including the Live Aid and Live8 concerts or the 4 separate versions of ‘Do They Know Its Christmas?'”

Midge also addressed the issue, dismissing the rumours as “nonsense” but stating: “It’s understandable that people in this day and age especially live in doubt. when we’re surrounded by a sea of lies and non-truths.”

Bob Geldof’s impressive net worth currently stands at an estimated £111 million – but he is adamant that he never profits from charitable endeavours like the famous Christmas single.