David Ellefson (Ex-Megadeth) Is Financially Set For Life: ‘I Literally Don’t Ever Have To Work Another Day’

David Ellefson, the bassist best known for his foundational and recurring role in the thrash metal giant Megadeth, recently stated he has achieved complete financial security, saying he “literally doesn’t ever have to work” freeing him to pursue projects based purely on passion rather than necessity. Despite parting ways with Megadeth again in 2021, Ellefson remains actively involved in music and various business ventures.

Speaking candidly in a new interview with Meltdown of Detroit’s WRIF radio station, Ellefson addressed his continued drive across multiple platforms – including heading a record label, producing films, writing books, and even developing his own coffee brand. When asked if this activity stemmed from need or desire, Ellefson was unequivocal.

“I literally don’t ever have to work another day in my life. I’m fine. Financially, I’m good,” he stated (as transcribed by Blabbermouth). “So I do this purely for fun and for joy. And it’s great that my phone rings and people still wanna hang out with me [laughs] and we still wanna invite me over to their party.”

Ellefson attributed part of his ongoing engagement to advice received years ago from former Megadeth guitarist Al Pitrelli, particularly after the band’s temporary dissolution in 2002. “[Al Pitrelli] told me years ago… he said, ‘Listen, brother. Say ‘yes’ to everything. It’s better to be overbooked than underbooked.’ And as I’ve talked about in other interviews, I said ‘no’ to a couple things. And boy, the phone stops ringing quick,” Ellefson recalled. He emphasized the power of affirmation, comparing it to the premise of the Jim Carrey film “Yes Man“: “They’re calling you ’cause they wanna hear you say ‘yes’… Yes leads to five more yeses, which leads to 10 more.”

While acknowledging that some ventures bring financial returns, Ellefson described many as “passion projects” often requiring his own investment. He views money primarily as a resource for broader impact, referencing guidance from financial commentator Dave Ramsey.

“I remember reading that book from Dave Ramsey years ago… and he said the real reason to get debt free isn’t to just go buy more sh*t for you,” Ellefson shared. “It’s to go be charitable to others. So I took heed of that, ’cause I was probably pretty heavily in debt at that time.”

He drew parallels between investing in a band like Megadeth and investing in his own life now. “Every rock group has its expenses… we invest into the group to keep the group going and building, and I do that now with my own life,” he explained. “I invest in myself, and I invest in my life to be able to be where I’m of best service to other people.”

Ellefson‘s career is deeply intertwined with Megadeth, which he co-founded with Dave Mustaine in 1983. He was instrumental in shaping the sound of iconic albums such as Peace Sells… but Who’s Buying?, Rust in Peace, and Countdown to Extinction. His tenure saw two major departures: the first in 2002 following the band’s brief breakup due to Mustaine‘s arm injury, which led to a period of legal disputes between Ellefson and Mustaine that were eventually dismissed. He later rejoined the fold in 2010 before his second, more controversial exit in 2021 following an online scandal.

Despite the turbulent history, David Ellefson now presents himself as an artist and entrepreneur driven by enjoyment, secure in the knowledge that his future work is a matter of choice, not obligation.