Led Zeppelin‘s career was a tumultuous one, to say the least. Full of sex, drugs and rock and roll, there was also violence, sorrow and even a strange robbery flung into the intoxicating mix. An unidentified individual stole more over $200,000 in cash from the band one evening on July 29, 1973. The bizarre incident is still shockingly unresolved more than fifty years later.
The band was scheduled to perform at Madison Square Garden on the final night of a three-night run while lodging at the prestigious Drake Hotel in New York City. Nothing demonstrated their status as the largest band in the world quite like the pinnacle of their success that was unfolding at the time. Throughout the duration of the
The concerts just appeared to be about to casually reaffirm their magnificence, and everything was going nicely. There wasn’t much else to say. Then, at 7.30pm, the band’s hellraising road manager, Richard Cole, went to check on their hotel safety deposit box, which contained over $200k in cash – the float to see them through the shows – only to find it empty, save for five passports.
While the band stayed in solitude in their suites on the 17th floor, attempting to make sense of what had happened in a stupor of drugs and booze, Peter Grant, the band’s manager, gave an impromptu news conference the following day. This was a tremendous and confusing crime. Following a comprehensive police investigation, the safe’s locks were taken out for examination and dusted with fingerprint powder. In spite of this, the authorities’ attempts were unsuccessful.
Officers told the press at the time that Richard Cole had explained that the money was in the box when he opened it at around 11:20am on the Sunday morning, but when he checked it at 7:30pm the next day, all that remained was the five passports. He estimated that between $203,800 and $220,000 was missing.
The detectives assigned to the case asserted that there was no indication that the box had been forced open. They revealed that one key, kept by the desk clerk, was needed to remove the box from the safe and that another, in Cole’s possession, was needed to open it. So, bizarrely, everything seemed to be accounted for, and no rational explanations for how the money went missing were arising.
The Led Zeppelin managers told detectives that they kept the cash at hand because they had “a lot of expenses to pay”. Suddenly, the smooth running of the shows was under threat. For context, when adjusted for inflation, the figure of missing money in 2024 sits at around $1.4million. That’s a fair bit of loose cash. In fact, it is a figure that raised suspicions among the police and deepened the mystery.
Unfortunately, the hotel detectives declined to comment on the heist at greater length—deciding to keep ongoings under wraps. However, Michael Stiller, the establishment’s assistant manager, told the press that the hotel didn’t keep records of the contents of its safety deposit boxes. When asked if anyone would have been aware of the value of its contents, Stiller replied definitively: “No”.
At the time, the police also informed the media that Cole had told them that the money had come from the group’s concerts on their current tour of the country. That evening, the band performed their last performance at Madison Square Gardens, and that was to be it for their US tour, as drugs and exhaustion were starting to take their toll.
This also added to the msytery as it would seem the timing was most fortuitous. A few nights later and the money would’ve been making its way to the bank to be securely deposited; a few nights earlier and the bounty wouldn’t have been quite so lofty as Cole claimed the cash was accumulating with every show.
“Jimmy (Page) and I just laughed about it,” recalled frontman Robert Plant, who thought that the theft actually “somehow made sense”. Yet, he declined to expand on the whys and wherefores of this “sense”. Grant, Cole, and a hotel Bellman were all questioned in connection with the robbery, as the police believed it was an inside job, but a culprit was never found.
The robbery would fade into the background of the concert film and be forgotten within their history. It is now just one minor part of the lifespan of one of the world’s biggest rock bands. But someone somewhere, no doubt, cracks a beaming smile any time the famed band flutter their way onto the radio.
