K Foundation Burn a Million Quid

K Foundation Burn a Million Quid was an action onAugust 1994 in which the K Foundation an art duo consisting of Bill Drummond and Jimmy Cauty burned cash in the amount of one million pounds sterling in a disused boathouse on the Ardfin Estate on the Scottish island of Jura. The money represented the bulk of the K Foundations funds, earned by Drummond and Cauty as The KLF, one of the United Kingdoms most successful pop groups of the early 1990s.

As The KLF, Bill Drummond and Jimmy Cauty were the biggestselling singles act in the world for 1991. They had also enjoyed considerable success with their album The White Room and a number one hit single Doctorin the Tardis as The Timelords. In May 1992, The KLF staged an incendiary performance at the BRIT Awards, and retired from the music industry shortly thereafter in typically enigmatic fashion.By their own account, neither Drummond nor Cauty kept any of the money they made as The KLF it was all ploughed back into their extravagant productions. Cauty told an Australian Big Issue writer in 2003 that all the money they made as The KLF was spent, and that the royalties they accrued postretirement amounted to approximately one million pounds ........

Source: Wikipedia