Tom Petty did what few band leaders practice. He split the royalties and profits equally among the group.
At Jim Morrison’s insistence The Doors did the same.
Not many (top) bands do this. Hardly any for that matter.
An old friend of mine, Howie, was Tom’s Bass player for years. Howie got mixed up with one of the beautiful but nasty Carter girl junkies, and OD/d. His weakness, but I can never forgive her!