One of the Jonas brothers admits he almost went BROKE from bad business deals over 10 years ago
But during the seemingly permanent break, the 37-year-old lead guitarist had formed his own residential development company JonasWerner, created the food app Yood, and partnered with the video-sharing app We Heart It.
On Monday, Kevin (born Paul Jr.) admitted on Lewis Howes' podcast The School of Greatness that he lost 'most of it, like, down to the one 10% left' back in 2016.
'I invested in a bunch of property and doing other things and I was building at the time and, sadly, it just wasn't the right partnership if you know what I'm saying. [I] can't really get too much into it,' Jonas confessed.
'But the sad part of it is I've learned a lot of lesson in that. And thankfully for life in general, we had a second shot and bite at the apple with the band coming back together and actually it was kind of fortuitous in a way I learned this lesson.'
The backing vocalist continued: '[I] never wanted to learn it but I did. But then, at the same time, [I] re-evaluated how to approach life from that perspective and looking to the future and at the same time [I] was able to really feel honored that we could have a second shot at it.'
Unlike his younger brothers Nick and Joe, Kevin has the added responsibility of raising two daughters - Alena, 11; and Valentina, 8 - from his 15-year marriage to Danielle Deleasa.
Jonas and the 38-year-old former hairdresser originally met in 2007 while on vacation in the Bahamas.
On April 14, the married couple made a hefty $1M profit after successfully selling their five-bedroom New Jersey mansion for $2.7M after five years of living there - according to The U.S. Sun.
The two-time Grammy nominees will release their seventh studio album Greetings from Your Hometown on August 8.
The Jonas Brothers will then kick off their 52-date Jonas20: Living the Dream Tour, in honor of the band's 20th anniversary, on August 10 at MetLife Stadium in East Rutherford, NJ.
The pop trio - who were catapulted by the Disney Channel - technically originated as a solo project for Nick before the siblings began writing songs together.
Jonas Brothers - founded in 2005 - currently average 18.5M monthly listeners on Spotify and they've sold over 20M records worldwide.
On Monday, Kevin (born Paul Jr.) admitted on Lewis Howes' (pictured) podcast The School of Greatness that he lost 'most of it, like, down to the one 10% left' back in 2016
Jonas confessed: 'I invested in a bunch of property and doing other things and I was building at the time and, sadly, it just wasn't the right partnership if you know what I'm saying. [I] can't really get too much into it'
The backing vocalist said: 'But the sad part of it is I've learned a lot of lesson in that. And thankfully for life in general, we had a second shot and bite at the apple with the band coming back together and actually it was kind of fortuitous in a way I learned this lesson'
Kevin continued: '[I] never wanted to learn it but I did. But then, at the same time, [I] re-evaluated how to approach life from that perspective and looking to the future and at the same time [I] was able to really feel honored that we could have a second shot at it'
'I look at a band like ourselves as a startup,' Kevin mused.
'You've got you have you start in your garage, you're making music, you build your product, you go out, you get an investor. My dad was our lead investor. He supports you. You start to go on the road and all of a sudden you get a second investment and that's the label and then you have distribution.'
Jonas continued: 'So, it's nice to be able to have a teammates with these guys and our management team that has been with us for so long. And I think we're a good unit now and sometimes it takes time to make decisions and I think that's okay.'
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