Rick Wakeman

After a brief stint in the folk rock group the Strawbs, during which he received national press attention, he joined Yes in 1971, playing on seminal albums such as Fragile (1971), Close to the Edge (1972) and Tales From Topographic Oceans (1973). His technical virtuosity on keyboards such as the Hammond organ, Moog synthesizer, and Mellotron, combined with his flamboyant stage presence and trademark capes, made him an iconic figure in 1970s progressive rock. In 1974, he formed his touring and recording band, the English Rock Ensemble, and in the following year, expanded into soundtrack work for Ken Russell's feature film Lisztomania (1975). Wakeman's subsequent career is characterised by its vast productivity and stylistic diversity, with a discography exceeding 100 solo albums. During the 1980s and 1990s, amidst shifting musical trends and personal financial strain, he transitioned toward low-budget albums for niche markets while maintaining a consistent presence as a live performer through band-led tours and one-man shows featuring music and anecdotal storytelling. This period saw Wakeman diversify into broadcasting and record label management, and pursued new musical directions with his first new-age and Christian music albums, Country Airs (1986) and The Gospels (1987), respectively. A commercial resurgence began with Return to the Centre of the Earth (1999), his first release to reach the UK Top 40 in 18 years, followed by a revisit of his three best-selling concept albums with new and expanded arrangements. His piano album Piano Portraits (2017) was his first UK Top 10 in 42 years. Throughout this time, Wakeman completed a total of five stints with Yes until 2004 and mostly recently performed in the offshoot band Yes Featuring Jon Anderson, Trevor Rabin, and Rick Wakeman from 2016 to 2020. In addition to music, Wakeman is a well-known media personality, recognised for his appearances on television shows such as Live at Jonguleurs, Countdown and Watchdog, and as a regular on the BBC comedy series Grumpy Old Men. He has published three books, presented a Saturday morning radio show on Planet Rock from 2005 to 2010, and has a podcast. He was inducted into the Rock and Roll Hall of Fame as a member of Yes in 2017, and was appointed a Commander of the Order of the British Empire (CBE) for his services to music and broadcasting in 2021.

Richard Christopher Wakeman was born on 18 May 1949 at Perivale Maternity Hospital in Perivale, Middlesex. He is the only child of Cyril Frank Wakeman and Mildred Helen Wakeman (née Eastment). The family lived in Wood End Gardens in nearby Northolt. Cyril worked at a building suppliers, starting as an office boy at age 14 and worked up to became one of its directors, and was a pianist in Ted Heath's big band while he was in the British Army. Mildred worked at a removals firm. Wakeman attended Wood End Junior School until he was ten, followed by Drayton Manor Grammar in Hanwell. His summer holidays were spent with his parents in Exmouth. Although raised in a Christian family, Wakeman "never had anything forced on me" and attended South Harrow Baptist Church, which he enjoyed. He took up the church organ at twelve, joined the Boys' Brigade, and completed a two-year course to become a Sunday school teacher. At eighteen he decided to be baptised by immersion. Wakeman was inspired to take up the piano at the age of five. His parents, aunts and uncle performed as a concert party troupe called The Wakeans until the war caused them to disband. They occasionally revived the act in the front room on Sunday evenings, playing the piano and singing songs which he heard from his upstairs bedroom. "I used to climb out of bed and sit on the bottom of the stairs and listen." Eventually his parents allowed him to play a piece on the piano. "Everybody clapped, and I thought, I'll have some more of that, and refused to go back to bed." Sergei Prokofiev made a strong impression on Wakeman after his father took him to a concert performance of Peter and the Wolf when he was about eight, which inspired him to tell stories with his music. He has since named the Russian composer a musical hero. Other musical influences on Wakeman during this time were trad jazz musician Kenny Ball, skiffle singer Lonnie Donegan, and pianist Russ Conway; his first music purchases were records by all three. His first keyboard was a reed organ bought from Woolworths. Between the ages of seven and eighteen, Wakeman had classically trained piano and theory lessons with Dorothy Symes in Harrow, paid for by his father, who spent almost half of his income on tuition. Wakeman passed each grade with a distinction, and Symes recalled him to be an "enjoyable pupil to teach, full of fun and with a good sense of humour", but lacked discipline to practice scales. She noted his fondness to adapt arrangements and play a piece in his own style, revealing his natural gift at composition. His first performances to an audience were recitals that Symes put on for the parents of all her current pupils. He performed his first two recitals, "Buy a Broom" and "See a Monkey on a Stick", on stage in later life. His showmanship also developed early, when at age ten, he played Conway's honky-tonk piano hit "Side Saddle" instead of his intended rehearsed piece, a Clementi piano sonatina, at his annual school talent show. In the same year Symes entered Wakeman in the Southall Music Festival, which he won for his category. He went on to win many others on the competition circuit in the south and west London area over the next several years; biographer Dan Wooding reported over 100 certificates and 20 medals and cups. Wakeman described himself as "a horror" at Drayton Manor school, "I worked hard in the first year then eased up." He passed music, art, maths and English at O Level, and chose to study music, art, and British constitution at A-level. He failed the latter. His art teacher at A-level was jazz pianist Mike Westbrook. Wakeman played in the school football team.

At age 12, Wakeman formed his first musical group, the traditional jazz outfit Brother Wakeman and the Clergymen. The band's name was a reference to their makeshift uniforms: school shirts worn backward to resemble clerical collars, prompting a friend to remark that they looked like vicars. That same year, he began studying the clarinet and served as the second clarinettist in his school orchestra. In 1963, Wakeman joined the Atlantic Blues, a local five-piece ensemble. The group secured a year-long residency at a rehabilitation club for the mentally disabled in Neasden, an experience Wakeman later credited with teaching him the essential discipline of working within a band. During this period, he also formed Curdled Milk, a short-lived group named in homage to Cream's "Strange Brew", to perform at an annual school dance. The performance ended in financial loss when Wakeman lost control of his car and drove through the headmaster's rose garden; the band's fee was subsequently forfeited to cover the damages. Shortly thereafter, while still a member of the Atlantic Blues, Wakeman joined the Concordes (later the Concorde Quartet). Accompanied by his cousin Alan Wakeman on saxophone and clarinet, he played dance and pop standards at local functions. He used his earnings from these performances to purchase his first electronic keyboard, a Hohner Pianet. By 1966, he had established his own dance band, the Green Dolphin Trio, which held a residency at the Brent council social club in Alperton. He departed the following year to join the Ronnie Smith Band at the Top Rank ballroom in Watford. It was here that he met vocalist Ashley Holt, who would become a frequent collaborator on Wakeman's future solo projects and tours. Smith briefly fired Wakeman for his perceived lack of seriousness toward dance music, he was soon reinstated at the Top Rank venue in Reading. During this time, Wakeman became a regular at the Red Lion pub in Brentford, participating in jam sessions with notable musicians such as John Entwistle, Mitch Mitchell, and Nick Simper. These connections led to his first radio appearance when singer James Royal invited him to join a live BBC session alongside Entwistle and guitarist Mick King. In 1968, Wakeman won a scholarship to the Royal College of Music in London, aiming to become a concert pianist. His admission followed a period of intense study; having completed only six of the eight required exam grades for his A-level music qualification, he was forced to complete two years of curriculum in ten months. Supported by additional tuition from Symes, and motivated by a ten-shilling bet with his school teacher regarding his success—Wakeman secured his place, using an offer at his father's building supply business to succeed and pursue music. Though he initially enrolled in the performer's course, with piano as his primary study and clarinet as his secondary, Wakeman soon grew intimidated by the calibre of his peers. Feeling he lacked the technical superiority required for a concert career, he switched to the teacher's course. Despite this shift, his time at the college provided foundational influences; his orchestration professor, Philip Cannon, had a lasting impact on Wakeman's later approach to composition. Wakeman's tenure at the college was marked by increasing friction with the institution's traditionalism. His proposals to establish a rock and jazz club were rejected, and he clashed with faculty over his appearance, refusing a professor's demand to cut his hair. Disillusioned, he began neglecting his studies, spending his time at the Musical Bargain Centre, a music shop in Ealing. The shop’s owner, Dave Simms, recognised Wakeman's potential and employed him as a pianist in his dance band. Wakeman's transition into professional session work began when guitarist Chas Cronk visited the shop seeking an organist and brass arranger for a session with Jimmy Thomas, a vocalist for the Ike & Tina Turner Revue. At Olympic Studios, Wakeman was introduced to influential producers Denny Cordell, Gus Dudgeon, and Tony Visconti. Though he initially struggled with the technicalities of scoring for brass—incorrectly writing the parts in concert pitch—his playing style impressed Cordell who subsequently offered Wakeman regular session work for Regal Zonophone Records. This provided a necessary income supplement to his small student grant, though the college officially disapproved of outside professional engagements. Recognising Wakeman's growing aptitude for contemporary music and the lucrative nature of his session career, his clarinet professor, Basil Tschaikov, encouraged him to pursue his professional path. In 1969, after one year of study, Wakeman withdrew from the college.

Following his departure from the Royal College of Music, Wakeman secured a steady income by returning to the Ronnie Smith band at the Top Rank ballroom in Reading. This period proved significant personally as well as professionally; he met his first wife, Rosaline Woolford, at the venue and the pair were engaged within three months. To supplement his evening residency, Wakeman began working as a freelance session musician during the day. His schedule was rigorous, often encompassing three or four sessions daily across various London studios. Starting at a rate of £9 per full session, his reputation for efficiency and technical precision soon commanded fees of up to £15. His ability to deliver the required arrangements with minimal rehearsal earned him the nickname "One Take Wakeman." Wakeman's versatility led to a prolific partnership with prominent session contractor David Katz, who frequently employed Wakeman as his primary pianist for television scores, including themes for The Avengers and Jason King. Beyond television, he collaborated extensively with producers Dudgeon and Visconti, contributing to what is estimated to be approximately 2,000 sessions throughout his career spanning pop records, television and radio jingles, and film soundtracks. Despite the financial success, Wakeman grew increasingly disillusioned by 1971; he felt constrained by the "hired hand" nature of the work, and the lack of creative input in the songwriting process left him artistically unfulfilled. Wakeman's transition into high-profile session work began in early 1969 with the psychedelic rock band Junior's Eyes. Under the production of Visconti and Cordell, he contributed to a non-album single and their debut LP, Battersea Power Station (1969). This collaboration proved a catalyst for his career; when Dudgeon sought a Mellotron player for David Bowie's "Space Oddity", Visconti, who had been impressed by Wakeman's technical facility, recommended him. The June 1969 session at Trident Studios showcased the efficiency that would define Wakeman's reputation, as Dudgeon recalled: "We did a run-through and Rick came in at the right place. And what he played was exactly what I wanted... We did one more take and it was a master. I thought, 'This is weird. This strange bloke... off he went, just like that, back to his ballroom job.'" For his performance on the track, which eventually peaked at number one in the UK in 1975, Wakeman was paid a standard session fee of £9. The recording garnered him his first media coverage, an interview with the Middlesex County Times. His contributions to David Bowie (1969) extended to the B-side "Wild Eyed Boy from Freecloud" and "Memory of a Free Festival". The professional bond between the two remained strong. In July 1970, Bowie supported Wakeman with an acoustic set at the White Hart pub in Acton. Intended to clear debts from Wakeman's failing folk club residency named the Booze Droop, the performance was famously poorly attended; only a dozen people appeared, as many locals dismissed the advertisements as a hoax. Later in 1969, Wakeman accepted a residency with the Spinning Wheel, the house band at The Greyhound pub in Chadwell Heath, East London. The position, advertised in Melody Maker by owner Bob Wheatley, required a seven-day-a-week commitment. This stable employment allowed Wakeman to leave his family home in Northolt and relocate with Woolford to a basement flat in Ilford. During this period, Wakeman was approached by bassist Nick Simper to join Warhorse, a new project formed following Simper's departure from Deep Purple. Although he participated in several rehearsals, Wakeman departed before the band's first demo recordings. Simper later attributed this to Wakeman's perceived lack of commitment and his struggle adapting to the band's hard rock direction. Wakeman's studio career continued to diversify. In a gesture of support, Visconti booked Wakeman for Marsha Hunt's cover of "I Walk on Gilded Splinters", tasking him with playing a single piano note solely to ensure he qualified for the session fee. The two also collaborated with Marc Bolan on a one-off project, releasing the single "Oh My Love" under the pseudonym Dib Cochran and the Earwigs.

In March 1970, Dave Cousins invited Wakeman to join the folk rock group Strawbs for a week-long residency at a rock circus in Paris. Wakeman had previously contributed piano to their second album, Dragonfly (1970), the first recording to feature his name in the liner notes. Having married Woolford just weeks prior, Wakeman accepted the offer despite a reduction in pay, and the trip served as a working honeymoon. A notable incident occurred during one performance when surrealist artist Salvador Dalí made an unannounced guest appearance on stage; unaware of Dalí's identity during his solo, Wakeman accidentally pushed the artist off the platform to continue his set. Wakeman's reputation shifted to national star following the Strawbs' headline concert at London's Queen Elizabeth Hall on 11 July 1970. The performance, captured on the live album Just a Collection of Antiques and Curios (1970), showcased his technical virtuosity on the piano and Hammond organ. Two tracks in particular drew critical acclaim: "Where is This Dream of Your Youth", which featured an expansive, classically influenced organ solo, and "Temperament of Mind", a solo piano piece developed from improvisations used to entertain audiences during equipment failures. The performance earned a standing ovation and prompted a landmark front-page story in Melody Maker, which hailed Wakeman as "tomorrow's superstar" and the "pop find of 1970". During this period, he began developing the theatrical stage presence that would become his trademark, including the use of a screw-studded wooden plank to physically depress organ keys, allowing him to perform complex lead lines with both hands simultaneously. Wakeman maintained a prolific session schedule alongside his work with the Strawbs. He composed the theme tune to the BBC television show Ask Aspel, and in early 1971, provided the distinctive piano arrangement for Cat Stevens' UK top-ten hit "Morning Has Broken". Though initially uncredited, Stevens later apologised for the omission and in 2002, arranged for a back-payment of royalties, which Wakeman donated to one of Stevens' educational charities. His studio versatility further led to collaborations with Elton John, contributing Hammond organ to Madman Across the Water (1971) and appearing as a guest performer at John's Royal Festival Hall concert that March. Despite these high-profile credits, Wakeman's finances remained precarious. Following a chance encounter with Bolan on Oxford Street while struggling to pay weekly rent, he recorded a series of piano glissandos for T. Rex's "Get It On" primarily to secure the session fee. However, his most significant artistic development occurred in June 1971, when Bowie invited him to his Beckenham home to audition material for his next album, Hunky Dory (1971). Wakeman later described the compositions, which included "Life on Mars?" and "Changes", as the finest selection of songs he had ever heard. His piano contributions became central to the album's sound, and he credited Bowie with teaching him essential studio craft. By mid-1971, Wakeman's session earnings allowed him to move to West Harrow and invest in new technology. He famously purchased a Minimoog synthesizer at half price from actor Jack Wild, who mistakenly believed the instrument was defective because it could only play one note at a time. During this period, the budget label Polydor released Piano Vibrations (1971), an album of pop and jazz covers featuring Wakeman, the John Schroeder orchestra, and an unnamed singer; he was paid a flat fee of £36 and received no credit on the sleeve. Wakeman's final studio effort with the Strawbs was From the Witchwood, was released in July 1971. The recording process exposed a growing creative rift; Cousins rejected Wakeman's songwriting contributions as overly complex and deemed his lyrics "awful", while Wakeman began prioritising session work over band rehearsals. Tensions peaked during a Top of the Pops performance of "The Hangman and the Papist", where Wakeman's flamboyant use of a paint roller to play his organ frustrated Cousins. Recognising that his interest in the band's folk direction had waned, Wakeman prepared to leave the group and at one point, considered assembling his own band.

In July 1971, Wakeman reached a pivotal juncture in his career when he was simultaneously invited to join Bowie's new backing group, the Spiders from Mars, and the progressive rock band Yes. The latter offer arose following the dismissal of founding keyboardist Tony Kaye, whose reluctance to expand beyond the piano and organ conflicted with the band's desire to incorporate more electronic keyboards. Wakeman opted to join Yes, citing the greater musical freedom and long-term potential. His arrival was a significant industry event, earning him his second Melody Maker cover feature within a year, while his weekly salary increased from £18 to £50. Wakeman made an immediate impact during rehearsals for Fragile (1971), contributing heavily to the arrangements of the band's signature tracks "Roundabout" and "Heart of the Sunrise". The album was recorded in just five weeks to facilitate a return to touring, which was necessary to finance Wakeman's expanding array of equipment. In keeping with the album's concept of featuring a solo piece from each member, Wakeman recorded "Cans and Brahms", a multi-tracked synthesiser adaptation of the third movement of Brahms' Symphony No. 4. He later expressed dissatisfaction with the track, labelling it "dreadful"; he explained that a contractual dispute between Yes's label, Atlantic Records, and his previous label, A&M, prevented him from recording an original composition. Despite his significant creative input, including piano sections on "South Side of the Sky", Wakeman received no formal songwriting credits. Although management had promised to resolve the oversight, he chose not to pursue the matter further to maintain band harmony. The commercial success of Fragile transformed Wakeman's personal and professional standing. His increased earnings enabled a move to a large residence in Gerrards Cross and the establishment of the Fragile Carriage Company, a business through which he managed a growing collection of luxury cars for hire. The subsequent tour marked Wakeman's debut performances in North America, during which he leveraged his rising profile to secure a five-album solo contract with A&M Records. His rising profile was reflected in the 1972 Melody Maker readers' poll, where he was ranked the second-best keyboardist, trailing Keith Emerson. In 1972, Yes released Close to the Edge, now regarded as a landmark album of the progressive rock genre. The album showcased Wakeman’s expanding technical range, incorporating diverse instrumentation such as the harpsichord and a pipe organ. Unlike his uncredited work on Fragile, Wakeman received a formal arrangement credit for the final track, "Siberian Khatru". During the subsequent American tour in September 1972 Wakeman began to wear a cape on stage, becoming the visual trademark that would define his public image. After an audience member offered him a cape for free, Wakeman commissioned his own bespoke versions, the first of which was a $300 sequined one designed by Denise Gandrup. Combined with his long blonde hair, the capes provided a striking visual contrast to the more reserved stage presence of his bandmates. Wakeman's performances during this period were documented in the concert film Yessongs (1975), filmed at the Rainbow Theatre, which highlighted his intricate solo segments. His versatility beyond Yes continued with a guest appearance in the orchestral performances of the Who's Tommy (1972) at the same venue and contributions to the soundtrack of the British drama film Zee and Co. (1972). In January 1973, A&M released Wakeman's debut solo studio album, The Six Wives of Henry VIII. Recorded intermittently throughout 1972, the instrumental concept album featured his musical interpretations of the personalities of Henry VIII's wives with contributions from his bandmates in Yes and the Strawbs, alongside various session musicians. Wakeman's profile was significantly boosted by a fortuitous television appearance on The Old Grey Whistle Test; a large segment of the national audience, displaced by the last-minute censorship of Andy Warhol's Blue Movie, tuned in to see Wakeman perform "Catherine Howard" on the show. He later reflected that this accidental exposure was a "tremendous break" that introduced his music to the wider British public. The album was a commercial and critical success, reaching No. 7 in the UK and No. 30 in the US, where it was certified Gold for selling 500,000 copies. Time magazine named it one of the year's best records, and the 1973 Melody Maker readers' poll saw Wakeman overtake Emerson to be named top keyboardist. Wakeman's solo triumph contrasted with his growing alienation during the sessions for Yes's double concept album, Tales from Topographic Oceans (1973). He was sceptical of the project's esoteric themes, based on scriptures outlined in Paramahansa Yogananda's Autobiography of a Yogi, and felt the music was overextended and insufficiently rehearsed. He distanced himself from the group during recording, frequently retreating to the studio bar and contributing to Black Sabbath's "Sabbra Cadabra" in the adjacent studio. His frustration peaked during the subsequent six-month tour; in a well-publicised act of protest against the setlist, he ate a takeaway curry on stage during a performance at the Free Trade Hall in Manchester. Though he later acknowledged some "very nice musical moments" on the album, he maintained that the material suffered from "awful" padding. During a hiatus in the Yes tour, Wakeman recorded Journey to the Centre of the Earth, a 40-minute adaptation of the Jules Verne novel conceived in 1971 that required an orchestra, choir, and rock band. To finance the £40,000 production costs, Wakeman re-mortgaged his home, sold several of his luxury cars, and was forced to record the work live in concert which took place at the Royal Festival Hall on 18 January 1974 with the London Symphony Orchestra and the English Chamber Choir conducted by David Measham, and narrator David Hemmings. For his band, Wakeman enlisted musicians that he had played with in a West London pub–vocalist Gary Pickford-Hopkins, drummer Barney James, and bassist Roger Newell–with his former Top Rank bandmate Ashley Holt on second vocals, and session guitarist Mike Egan. Despite initial resistance from A&M's UK division, the label's co-founder Jerry Moss personally ordered its worldwide release. Following the conclusion of the Tales from Topographic Oceans tour, Wakeman confirmed his departure from Yes on 18 May 1974, his 25th birthday. Later that day, he learned that Journey had entered the UK charts at number one, a first for A&M. The album reached No. 3 in the US, received a Grammy Award nomination for Best Pop Instrumental Performance, and was certified Gold in the UK, US, Australia, Canada, and Brazil. However, the physical demands of his career reached a breaking point during a headline performance at the Crystal Palace Garden Party in July 1974. Suffering from exhaustion, a wrist injury, and the effects of excessive smoking and alcohol, Wakeman required morphine injections to finish the show; shortly thereafter, he suffered a minor heart attack.

While recovering in hospital from his heart attack, Wakeman disregarded medical advice to moderate his lifestyle and reduce his workload; he continued to smoke and drink and began to write music for his next album. He settled on another concept album, this time based on Arthurian legend, titled The Myths and Legends of King Arthur and the Knights of the Round Table. Before recording commenced, Wakeman embarked on his first solo world tour in September 1974. The initial 20-city North American leg featured his band, the National Philharmonic Orchestra and Choir of America conducted by Measham, performing Journey to the Centre of the Earth and selections from The Six Wives of Henry VIII. Per medical instructions, he was required to pass a heart monitor test before every performance. The tour concluded in March 1975 after dates in Japan, Australia, and New Zealand. Recording for King Arthur was completed at Morgan Studios in January 1975, featuring Wakeman's band and Measham conducting the New World Orchestra and English Chamber Choir. Released that March, the album reached No. 2 in the UK and No. 21 in the US, earning a gold certification in the UK for selling 100,000 copies, plus Brazil, Japan, and Australia. To promote the record, Wakeman staged three sold-out shows at London's Empire Pool for 27,000 spectators. Because the venue floor was already frozen for another attraction, Wakeman presented the concert as an ice pageant featuring 14 costumed skaters and a castle-themed stage set in the round. Although the production was a commercial success, it was prohibitively expensive to produce. The shows were later ranked 79th on VH1's 100 Greatest Shocking Moments in Rock and Roll. The track "Arthur" has served as the theme for BBC general election broadcasts from 1979 to 2005 (except 2001), and from 2019 onwards. By mid-1975, Wakeman had reached the height of his commercial success. He was featured on the cover of Rolling Stone in January and managed his business interests with a staff payroll through Complex 7, a group of companies with a rehearsal facility at a former bus depot in High Wycombe. His personal wealth was reflected in his acquisition of a farmhouse in Woodbury Salterton, Devon, and a former nursing home in Burnham Beeches, Buckinghamshire, used to house his car collection. His career was profiled in the BBC documentary series Success Story in September 1975. Wakeman assembled a new line-up of his band, by now officially named the English Rock Ensemble, that consisted of Holt, Newell, and Hodgson, plus newcomers John Dunsterville on guitar, Reg Brooks and Martin Shields on brass, and Tony Fernandez on drums. Fernandez would become a mainstay of Wakeman's future projects, touring with him until 2022. The group toured major venues across the US, Canada, and Brazil from October to December 1975, performing selections from Wakeman's first three albums. The Brazilian leg was particularly successful, with biographer Dan Wooding estimating a total attendance of 500,000 people. During this period, Wakeman composed and recorded the soundtrack for Lisztomania (1975), a surrealist biopic of composer Franz Liszt directed by Ken Russell. The album features the English Rock Ensemble and vocals by the film's star, Roger Daltrey, while Wakeman appeared on-screen as Thor, covered in silver paint. The soundtrack reached No. 145 in the US but failed to chart in the UK. Wakeman later expressed dissatisfaction with the project, citing poor production and a lack of his own original material; he eventually supervised a reissue of his original score entitled The Real Lisztomania in 2002. In early 1976, Wakeman recorded No Earthly Connection at Château d'Hérouville in France with the English Rock Ensemble. Although initially conceived as an exploration of mythological gods, the album's focus shifted toward "the origins of mysterious phenomena" such as Stonehenge and the Bermuda Triangle, reportedly inspired by Wakeman’s sighting of a UFO while on tour. He composed the music in its entirety before playing any of it, describing the work in the liner notes as a "futuristic, autobiographical look at music" across human existence. The centrepiece is the 28-minute suite "Music Reincarnate" with five distinct sections. Released in April 1976, the album reached No. 9 in the UK and No. 67 in the US. Wakeman and his group toured the album across Europe that concluded in August.

Following the 1976 tour, Wakeman faced a financial crisis. High operating costs and tax liabilities resulted in a debt of £350,000, forcing him to sell his Rolls-Royce collection, shutter his Fragile car service company, and disband the English Rock Ensemble. He secured financial relief through a royalty advance from A&M Records and the completion of the soundtrack for White Rock, a documentary on the 1976 Winter Olympics in Innsbruck that reached No. 14 in the UK. The score included "After the Ball", a track Wakeman entirely improvised in a single take after forgetting to compose the piece prior to the recording session. During this period, Wakeman's manager, Brian Lane, proposed a supergroup featuring former Yes bandmate Bill Bruford and King Crimson bassist John Wetton. The trio rehearsed for six weeks, but the project collapsed due to management disputes and premature coverage in Melody Maker. Wakeman's fortunes shifted in November 1976 when he was invited to join Yes in Montreux, Switzerland, during the sessions for Going for the One (1977). The band's previous keyboardist, Patrick Moraz, had departed due to internal pressures, and Wakeman found the new material more enjoyable and accessible than the band's previous experimental direction. Though he initially joined as a session musician, he quickly agreed to return as a full-time member. However, his return was complicated by Lane, who leaked the news to Melody Maker before consulting Wakeman, leading to a premature front page announcement. During the recording of the follow-up, Tormato (1978), Wakeman utilised the Birotron, a unique tape-replay keyboard he had helped fund. The album's title and cover art were famously inspired by an incident in which Wakeman, frustrated by the band's initial artwork choice, threw a tomato at the design. Wakeman's final solo releases for A&M saw him return to instrumental concepts. Rick Wakeman's Criminal Record (1977) was loosely themed around criminality and featured Yes bandmates Chris Squire and Alan White and humorous vocals by comedian Bill Oddie. The album reached No. 25 in the UK and No. 28 in the US; its track "Birdman of Alcatraz" gained further recognition as the theme for the BBC television drama series My Son, My Son, and was released as a single. His final A&M effort, the double album Rhapsodies (1979), was recorded in Montreux and featured shorter tracks in diverse musical styles with Bruce Lynch, Frank Gibson Jr., and Tony Visconti as guest musicians. It peaked at No. 25 in the UK. Following a 1979 tour with Yes, the band attempted to record new material in Paris and London. However, these sessions were largely unsuccessful due to creative differences and internal friction. In early 1980, both Wakeman and lead vocalist Jon Anderson left the group, marking the end of Wakeman's second tenure with the band.

Following a four-year hiatus, Wakeman reformed the English Rock Ensemble for a European tour in 1980. That same year, he declined an invitation to form a supergroup with Carl Palmer, John Wetton, and Trevor Rabin. Despite the commercial potential, Wakeman opted out on principle after discovering the record company was willing to sign the band without hearing any material—a decision he later noted "sealed [his] financial fate." The death of his father in November 1980, coupled with a second divorce, prompted him to leave Switzerland and return to England. Facing bankruptcy, Wakeman experienced a period of homelessness, briefly sleeping in Kensington Gardens before finding temporary accommodation with a former roadie. To address his mounting debts, Wakeman signed with Tony Stratton-Smith's Charisma Records. His first release for the label was 1984 (1981), a concept rock album based on George Orwell's dystopian novel. The project featured lyrics by Tim Rice and vocal contributions from Jon Anderson, Chaka Khan, and Kenny Lynch. The album reached No. 24 in the UK and became Wakeman's highest charting album of the decade. Plans to adapt it into a musical were halted by legal intervention from the Orwell estate. A subsequent world tour followed in 1981, with a line-up of Fernandez, Tim Stone on guitar, Steve Barnacle on bass, and Cori Josias on vocals, but it was marred by growing internal band friction. Before the tour Wakeman held two performances of Journey to the Centre of the Earth in Durban, South Africa. Throughout 1981 and 1982, Wakeman diversified his output through television and film scoring. He recorded the soundtrack for the American slasher film The Burning (1981) and later composed the score for G'olé!, the official documentary of the 1982 FIFA World Cup. In 1982, he released the humorous album Rock 'n' Roll Prophet (intended as a spoof on the pop duo the Buggles) on his own Moon Records label, which featured the eccentric single "I'm So Straight I'm a Weirdo" with Wakeman on lead vocals. Originally recorded in Switzerland in 1979, it remained unreleased until Wakeman secured the rights to the album. The music video to the song featured a young Boy George. In early 1983, he appeared as a co-host on the Channel 4 music programme GasTank alongside Tony Ashton. Despite this productivity, Wakeman's third Charisma album, Cost of Living (1983), failed to chart, leaving him in a precarious financial state in what he described as "managerless, penniless and homeless". He continued to rely on film work and other diverse commissions, contributing to the soundtrack of B.C. Rock and the Ken Russell film Crimes of Passion (1984)—utilising themes from Dvořák's Symphony No. 9—and the adventure film She (1984), which included collaborations with Justin Hayward and Maggie Bell. Other projects from this era, including a score for the ballet Killing Games, were ultimately shelved during development.

In 1984, Wakeman began a 23-year association with the independent label President Records, eventually producing nearly 40 albums for the company. His inaugural release for the label, Silent Nights (1985), was his first solo studio effort in over two years. Recorded with a band featuring Rick Fenn and Chas Cronk, the album produced the single "Glory Boys" which gained national attention. During this period, Wakeman also expanded his portfolio of television music, composing themes for the ITV drama Lytton's Diary, the tech programme Database, the BBC show Paddles Up, and the documentary Supercat. To support Silent Nights, Wakeman embarked on his first full-scale world tour in four years, including his first North American performances since 1979. The British leg of the tour was documented on the album Live at Hammersmith (1985). Despite the tour's scale, it proved a financial failure, leaving Wakeman "seriously in debt" and forcing him and Carter to remortgage their home. The Australian leg of the tour in September 1985 marked a critical turning point in Wakeman's personal life. After falling ill due to his long-standing alcoholism, he committed to sobriety and has remained teetotal since. Following his recovery, Wakeman resumed high-profile session work by reuniting with David Bowie to provide the piano contribution for the single "Absolute Beginners". The latter half of the 1980s was defined by Wakeman's diversification into New Age and Christian music. In 1986, he released his first New Age album, Country Airs, a collection of solo piano pieces inspired by a walk in the British countryside. Although Wakeman later admitted he recorded the album primarily to secure a much needed £5,000 advance from Coda Records, it became an unexpected commercial success, reaching number one on the UK New Age chart. This success solidified his association with the genre, leading to a weekly New Age radio residency on Capital Radio and the release of The Family Album (1987), which featured compositions dedicated to his relatives and pets alongside scores for the films The Day After the Fair and Mackintosh. Wakeman's first Christian release was his 1987 double album The Gospels. Based on the four canonical gospels, the project featured tenor Ramon Remedios, narrator Robert Powell, and the Eton College Chapel Choir. Originally conceived for a 1985 church fundraiser, the work was expanded into a full studio production and premiered at the Royal Albert Hall. A subsequent 1988 performance in Caesarea, Israel, was broadcast to an international television audience. During this period, Wakeman maintained ties to the rock and pop worlds. In 1987, he toured Australia as a guest member of the instrumental rock band Sky. He also returned to conceptual rock with Time Machine (1988), loosely inspired by the H. G. Wells novel. The album featured guest vocalists Roy Wood and Tracy Ackerman. Though Wakeman had envisioned a grand production involving an orchestra, choir, and a celebrity ice show, these plans were ultimately abandoned due to insufficient funding. In March 1988, motivated by a need to stabilise their finances, Wakeman and Carter relocated the family to Peel on the Isle of Man. He converted a coach house on the property into a 24-track recording facility, which he named Bajonor Studios—an acronym derived from the first names of his family members. The studio was a strategic compromise; Wakeman had previously lost film-scoring opportunities due to the prohibitive costs of renting commercial London studios, and the private facility allowed for lower production overheads. Bajonor served as his primary recording base from 1990 until 2001. The first project completed at the studio was the New Age album Aspirant Sunset (1990), which also marked the beginning of his long-term collaboration with recording engineer Stuart Sawney. Reflecting his ongoing interest in environmental themes, Wakeman pledged 50p from every sale of his Aspirant album trilogy to CPRE, The Countryside Charity. During this period, he also befriended fellow Isle of Man resident and comedian Norman Wisdom, with whom he recorded a collaborative album.

In late 1988, Wakeman got together with former Yes bandmates Jon Anderson, Bill Bruford, and Steve Howe to form a new group, Anderson Bruford Wakeman Howe. The band originated when Anderson had become increasingly frustrated with Yes's commercial direction, and left the band to make music that reflected the band's 1970s sound. Their self-titled album was released in 1989, and the tour marked Wakeman's first major US tour in ten years. Tracks originally put down for a second album were added to an in-progress Yes album and released as Union in 1991, which transformed Yes into an eight-piece formation with Wakeman sharing keyboards with original Yes member Tony Kaye. Wakeman has openly stated his dislike for Union, partly due to the fact that session musicians were brought in to re-write and perform parts that he and Howe had already put down. However, he later chose the Union Tour tour of 1991–1992 as his favourite with Yes, where he formed a strong friendship with their 1980s guitarist and singer-songwriter Trevor Rabin. Wakeman confirmed his exit from the group in 1993 following managerial disputes with the band's and his own. Wakeman continued with his solo career in parallel; in 1990 he revived his English Rock Ensemble with Holt, Fernandez, and Paton for a European tour and recorded a new rock score for a colourised re-release of The Phantom of the Opera, featuring Chrissie Hammond on vocals, put out as Phantom Power in 1991. He embarked on two UK tours supporting his two The Classical Connection albums with himself and Paton in a stripped back stage production. In the first half of the 1990s, Wakeman performed and released music in aid of ASSIST, a California-based Christian organisation founded by journalist Dan Wooding, author of Wakeman's biography. The pair reconnected in 1989, and their first venture was In the Beginning, an album of atmospheric music with Biblical readings read by Wakeman's then-wife Nina. Wakeman donated the album's entire proceedings to ASSIST. In 1994, Wakeman completed the Simply Acoustic Tour, a series of solo piano concerts in the US in aid of ASSIST. Recordings from shows in Virginia and the Calvary Chapel in Costa Mesa, California was released on The Piano Album in 1995. The latter show was attended by 8,000 people. Wakeman formed Hope Records to release this new Christian music, and decided to use the royalty payments to fund the production of more albums for the label. In October 1992, Wakeman embarked on a world tour with a four-piece group of Fernandez, guitarist and bassist Alan Thomson, and his son Adam Wakeman on additional keyboards. The tour lasted until 1994, and was organised as Wakeman wished to tour with a second keyboardist to "free [him] up to do more things" on stage. The tour marked the release of Wakeman with Wakeman, an album of keyboard compositions written and performed by the pair. They released No Expense Spared in 1993, Romance of the Victorian Age in 1994, and Vignettes in 1996. In 1993, Wakeman's financial situation took an unexpected turn when he was demanded to pay almost £70,000 to the Inland Revenue for interest charges and unpaid penalties related to tax he had paid for the preceding six years. He later wrote: "With help from Brian Lane's office and Yes's accountants, in my signing away all publishing income from everything I had ever written... Twenty-two years' work had vanished in the three seconds it had taken to sign my name." Wakeman credits his 1993 appearance on the evening talk show Danny Baker After All as a turning point in his television career, after he told a story about being arrested in Moscow for smuggling a KGB uniform out of the country. In mid-1995, Wakeman became involved with Phillip Gandey's family circus entertainment project Cirque Surreal, writing and recording "timeless" pieces to enhance the show's various characters. The show was initially held at the Brighton Festival, and Wakeman went out to perform it live with his band at other venues, including the Cheltenham Festival. Around the same time, Wakeman scored the soundtrack to Bullet to Beijing, a made-for-television film starring Michael Caine and Jason Connery. He also scored its sequel, Midnight in Saint Petersburg. Also in 1995, Wakeman played Mellotron on two songs of Ozzy Osbourne's album Ozzmosis, "Perry Mason" and "I Just Want You". In the summer of 1995, Wakeman agreed to return to Yes which marked his fourth time in the group and the return of the "classic" line-up. They worked on new studio material and performed live shows in 1996 which was released on Keys to Ascension (1996) and Keys to Ascension 2 (1997). In March 1997, Wakeman staged the North American premiere of The New Gospels for five dates after it was reworked and extended into a two-hour oratorio with a 30-piece choir, in 1994. The concerts were free with donations to ASSIST. Wakeman left Yes in May 1997 before he could tour with them, due to scheduling conflicts and lack of coordination between the artists' management. In June 1997, Wakeman became the host of the stand-up comedy television show Live at Jongleurs. Later in 1997, his 20-minute choral piece "Noah", written for the English Chamber Choir, premiered in London. Wakeman performed the piece with the choir once more in 2011.

In 1998, he started work on Return to the Centre of the Earth, a sequel album to commemorate the 25th anniversary of Journey to the Centre of the Earth. The idea first came to Wakeman in 1991 during a tour of Italy, which led to discussions about the project with Atlantic Records that year about a re-recording of the original album with new equipment and arrangements, but the idea was rejected. It was revived in 1996 when Wakeman received offers from three record companies willing to fund and release a new "epic" album. After a deal with EMI Classics was made, a story based on three unnamed travellers and their attempt to follow the original route was finalised, and recording began in 1998 with a band, the London Symphony Orchestra, the English Chamber Choir, Patrick Stewart as the narrator, and guest performances from Trevor Rabin, Ozzy Osbourne, and Bonnie Tyler. Released in 1999, the album went to number 34 in the UK, Wakeman's first album to enter the chart in 12 years. Recording was temporarily disrupted because of Wakeman's health. In December 1998, Wakeman was featured on an episode of This Is Your Life. Wakeman accepted an invitation to revive his English Rock Ensemble for a South American tour in September 2000, following a renewed interest in progressive rock there. The band featured a new line-up of Fernandez, Damian Wilson on vocals, Adam Wakeman on keyboards, Ant Glynne on guitar, and Lee Pomeroy on bass. Wakeman was particularly pleased with his playing, calling it his "best in a long time." The group returned in April 2001, followed by several European dates. Later that year, Wakeman entered discussions with Keith Emerson regarding a potential music project, but the idea was shelved. In 2001, Wakeman performed in his first pantomime role as Abanazar in a production of Aladdin in Truro, for the Christmas season. He made a cameo appearance in the 2002 thriller horror film Alone as a hospital patient. In 2003, Wakeman starred in the BBC television show Grumpy Old Men, and stayed on as a regular until the show ended in 2006. The show increased his national profile and made him a regular in the after dinner speech circuit. In April 2002, Wakeman rejoined Yes for the fifth and final time, and said it took eight months to get the necessary paperwork to make it happen. The band toured worldwide with the Full Circle Tour and 35th Anniversary Tours, which ran from 2002 to 2004. Wakeman described the band's playing during his return: "It was far and away the best the band had ever been... there was no staleness, there was a lot of freshness." The only new studio material worked on during this time were bonus tracks on The Ultimate Yes: 35th Anniversary Collection. After the 2004 tour Yes entered a four-year hiatus, during which Wakeman retired from large scale tours following ongoing health problems. When the band regrouped in 2008, Wakeman's son Oliver replaced him on keyboards. In April 2005, Wakeman and his band performed three shows in Havana, Cuba, including an outdoor show attended by an estimated 10,000 people. They came about after Wakeman was offered to perform there to support a charitable foundation that supports a children's cancer hospital. The first two shows were filmed and released as Made in Cuba, proceeds from which were given to the hospital. Cuban leader Fidel Castro greeted Wakeman, thanking him for his humanitarian support. Wakeman received some criticism following the visit, which upset him personally and made him consider retiring from live performance. He addressed the false accusations on his website, clarifying that the visit was not staged for political reasons. Wakeman later revealed that Castro gave him some earth surrounding Che Guevara's grave. In June 2006, Wakeman toured the US with a solo piano tour. This was followed by a performance of Return to the Centre of the Earth with his band, orchestra, and choir in Quebec, Canada. The show featured Jon Anderson as a guest performer, which led to the pair touring the UK together as Anderson/Wakeman. Wakeman scored the 2007 documentary film In Search of the Great Beast 666, about the life of occultist Aleister Crowley. He toured the UK in 2007 with a new production, the Grumpy Old Picture Show. Inspired by his appearances on Grumpy Old Men, the show combined live performances and stories with visual accompaniments including old photos and pre-recorded sketches. The initial run of 14 dates were so successful, Wakeman completed a further 24 dates in the following year.

In May 2009, Wakeman took part in the 500th anniversary celebrations of Henry VIII's accession by performing his debut album, The Six Wives of Henry VIII, in its entirety at Hampton Court Palace for two nights. The event marked the fulfilment of a request he had first made in 1973, but was denied; the performances were subsequently released as a live CD and DVD and feature Brian Blessed as the narrator. Following this, he reunited with former Yes bandmate Jon Anderson in 2010 to record The Living Tree as Anderson/Wakeman, followed by tours of the UK and North America in 2010 and 2011. During this period, Wakeman also collaborated with Deep Purple keyboardist Jon Lord for a performance at the Royal Albert Hall in aid of the Sunflower Jam charity. Although the pair intended to record an album together, the project was curtailed by Lord's cancer diagnosis and his subsequent death in 2012; their Sunflower Jam set remained Lord's final live appearance. In July 2011, Wakeman reunited with Strawbs during their acoustic summer tour with a guest appearance at their show at AbbeyFest. The discovery of a long-lost conductor's score in 2009 prompted Wakeman to record an expanded version of Journey to the Centre of the Earth in 2012. Originally truncated to fit the constraints of a single LP, the re-recorded work spanned 54 minutes and featured the English Rock Ensemble with original vocalist Ashley Holt and second vocalist Hayley Sanderson, the Orion Orchestra, and narration by Peter Egan. To commemorate the original album's fortieth anniversary, Wakeman performed this expanded version on a 14-date UK tour in 2014. This project served as the catalyst for a similar expansion of The Myths and Legends of King Arthur and the Knights of the Round Table. Released in June 2016, this 88-minute version, narrated by Ian Lavender, was Wakeman's first album produced through direct-to-fan crowdfunding. He premiered the work live the same day at the Stone Free Festival at London's O2 Arena. In June 2013, Wakeman participated in the Medieval Mystery Play Festival with performances at Blackfriars Priory—where he was joined by his children Oliver, Adam, and Jemma—and the Cheltenham Centaur. The latter featured new arrangements of his 1970s trilogy performed with the English Rock Ensemble and the Cheltenham Symphony Orchestra. Although he had planned to stage King Arthur at Kingsholm Stadium that year, the event was cancelled. Following a 10-show piano residency at the Edinburgh Festival Fringe in 2013, he announced a Wakemanfest event at the Gliderdrome in Boston, Lincolnshire for October 2015; however, the festival and a subsequent Scandinavian tour were postponed after Wakeman suffered an undisclosed health scare. Once recovered, he spent much of 2016 to 2018 touring globally with Yes bandmates Jon Anderson and Trevor Rabin as Yes Featuring Jon Anderson, Trevor Rabin, Rick Wakeman, a collaboration that performed music from different eras of the band's catalogue. A significant shift in Wakeman's solo career occurred in January 2016 following the death of his long-time friend David Bowie. A live piano tribute of "Life on Mars?" on BBC Radio 2 received such viral acclaim that Wakeman released it as a charity single for Macmillan Cancer Support. The reception inspired a trilogy of solo piano albums: Piano Portraits (2017), Piano Odyssey (2018), and Christmas Portraits (2019). The first of these reached No. 6 in the UK, marking his highest chart position since 1975 and his first silver-certified album in the UK since 1977. This commercial resurgence culminated in 2019 with his first solo tour of the United States in 13 years. In June 2020, Wakeman returned to progressive rock with The Red Planet, an instrumental rock concept album inspired by Mars that featured his English Rock Ensemble. He followed this in March 2023 with A Gallery of the Imagination, a stylistically diverse collection of songs with Sanderson on vocals and instrumentals. During this period, he also staged a significant retrospective at the London Palladium in February 2023, performing The Six Wives of Henry VIII, Journey to the Centre of the Earth, and King Arthur in their entirety alongside a selection of Yes material. These performances were subsequently released as a live album. Following a 2024 UK tour dedicated to his Journey and Yes catalogues, Wakeman embarked on what was billed as his final solo piano tours of North America and Europe. A centrepiece of these performances was "Yessonata", a 30-minute piano composition interpolating various themes and melodies from his tenure with Yes. A 20-minute studio version of the piece was later paired with a similar suite based on themes from King Arthur for a standalone album release. In 2024, Wakeman also performed at the Starmus Festival, debuting an original composition for piano and orchestra written as a tribute to primatologist and climate campaigner Jane Goodall. Following a period of recouperation from surgery, Wakeman began a North American tour with himself and eldest son Oliver Wakeman on additional keyboards for the first time in March 2026, billed as Wakeman and Son. A 17-date UK tour with the English Rock Ensemble is scheduled for 2027.

By the end of 1972, Wakeman's typical keyboard setup included piano, electric piano, Mellotron, Hammond organ, and Minimoog synthesizer, and he had played a pipe organ and harpsichord on record. He went on to use many later models of synthesizers including the Polymoog and the short-lived Birotron, which he helped fund in its development. Because of the advent of digital keyboards at that time, and expensive components used in the instruments' manufacture, the Birotron was never a commercial or technical success and only 35 were produced. In recent years, Wakeman has used various Korg models, a Yamaha Montage, and the Memotron, a digital version of the original Mellotron. An urban legend claims that Wakeman got so frustrated with one Mellotron that he poured petrol on it and set fire to it, which he said in 2010 was only "semi-true", and had become an exaggerated story over time. He clarified that some were so far beyond repair they were taken apart and burnt, but he kept the frames. A double Mellotron that he had made was stolen and reappeared in America. In addition to keyboards, Wakeman still owns the soprano saxophone that he used at the Royal College of Music, and can play some rhythm and bass guitar.

Wakeman has been married four times and has six children. In March 1970, at the age of 20, he married Rosaline Woolford. They had two sons, Oliver and Adam. Their marriage became strained by the end of 1976, as Wakeman was advised to take a year out of the country for tax purposes and was to spend several months recording with Yes in Switzerland. Woolford was reluctant to move with the family, and for this and other reasons, filed for divorce in 1977. In later life Wakeman said the marriage was a mistake for both of them as they were too young and were "not ready for what the musical world was about to throw at me." He began a relationship with Swiss-born Danielle Corminboeuf, a secretary at Mountain Studios in Montreux, while recording with Yes at the same studio. They married in January 1980 in Barbados. They had one son, before they split after Wakeman returned home from his 1981 world tour "with my suitcase on the doorstep and Danielle in Belgium with a nineteen-year-old catering student". Their divorce was finalised in 1984. In 1981, Wakeman met former Page 3 model Nina Carter and had a daughter, before they married in November 1984 and had a son. The couple separated in 2000 and finalised their divorce in 2004. Wakeman left their home on the Isle of Man and for a period lived in hotels. In the early 2000s, Wakeman had a relationship with Italian artist Alina Bencini who produced artwork for his albums released during this time. In 2004, Wakeman revealed that he had had an extramarital affair with American-born designer Denise Gandrup, who first met Wakeman in 1972 and made several of his capes. After they split in 1981, they reconnected in 1985 and had one daughter. Wakeman felt it best to keep the relationship and child secret to protect his family, but continued to financially support his daughter. As of 2023, Wakeman has thirteen grandchildren. In December 2011, Wakeman married journalist Rachel Kaufman, who is 25 years his junior. The pair met in 2004 when Kaufman conducted a press interview with him, and were engaged in 2007. Wakeman moved from Norfolk to Suffolk in 2019, and lives with his wife by the Shotley Peninsula.

Wakeman has faced a number of health issues. In his twenties he had three heart attacks due to smoking and drinking heavily and overworking. The first two were minor and he was told they may have gone unnoticed. The third occurred soon after his headline performance at the Crystal Palace Park in July 1974, when he was 25. Wakeman stopped smoking in 1979, but continued to drink and recalled "wild" nights with Keith Moon, Vivian Stanshall, and Rick Parfitt. In September 1984, Wakeman was fined £155 and banned from driving for one year for speeding and being over the drink drive limit. On 8 August 1985, Wakeman became teetotal after he fell ill during an Australian tour. He flew home where a doctor revealed he had alcoholic hepatitis, signs of cirrhosis and organ failure, and said he had six months to live if he continued to drink. In 1998, Wakeman collapsed on a golf course and was rushed to hospital, where he was diagnosed with double pneumonia, pleurisy, high blood pressure, and showed signs of Legionnaires' disease. He was placed in an induced coma, and at one point his doctors gave him 24 hours to live. Wakeman has had a vasectomy. In 2016 Wakeman announced he had type-2 diabetes. In 2023, he said his playing was affected by macular degeneration in his left eye, which he treats with monthly injections. He also has arthritis in his hands, legs and feet, for which he wears half gloves while performing. In 2025, Wakeman had surgery on his spine and brain to treat his normal pressure hydrocephalus. Wakeman has never used drugs and believes that had he taken them he would have done so to excess and died.

In 2007 Wakeman became a Freemason, joining the Chelsea Lodge No. 3098 which is made up of entertainers. His father was a member of the Brent Valley Lodge No. 3940, and the support that Wakeman and his mother received from his friends at the Lodge following his death was a catalyst for Wakeman to learn more about Freemasonry. In 2019, Wakeman was elected as an honorary member of his late father's Lodge. In 2011, Wakeman joined the Knights Templar fraternity, and is also a member of the Vaudeville Lodge. In 2014 he was installed as the 110th Worshipful Master of the Chelsea Lodge. He was and elected as the 125th King Rat in the showbusiness fraternity and charity organisation, the Grand Order of Water Rats. Wakeman was the first person to hold both titles. He hosted the Grumpy Old Rockstar's Chelsea Lodge Ladies Festival in the following year. Wakeman appears in his Masonic apron in the 2017 documentary series Inside the Freemasons.

In 1988, Wakeman was elected into the Lord's Taverners cricket charity, and was chairman of the Isle of Man branch with his wife in the early 1990s. He took up golf in the 1980s after becoming teetotal, and has since taken part in many charity tournaments. From 1995 until at least 2012, the Rick Wakeman Celebrity Classic golf tournament took place at Burhill Golf Club in Surrey, raising funds in aid of the children's charity Sparks. Wakeman is an honorary president of the Classic Rock Society, formed in Rotherham in 1991. In 2009, he became a patron of Tech Music School. He was one of the board of directors of the Performing Artists' Media Rights Association (PAMRA), a non-profit organisation committed to promoting musicians' rights and income. Wakeman is a patron and active supporter of several animal welfare charities, including Friends of the Animals and Saving Strays. In 2017, he was made an ambassador to Animals Asia Foundation, of which he has supported since 2013.

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