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His second solo album Edge topped the Australian charts for three weeks after its release in 1988. Just a few years later, his third collection – Rise – became Australia's biggest selling album of 1991.
Braithwaite said he was "honoured" to join the ARIA's Hall of Fame. The singer told Fairfax Media even to this day he can't believe so many people resonate with his music.
"You forget how much of an effect music has on people," he said. "Even last weekend, I came off stage [performing Horses] thinking, God, what did we do to make this? It has a life of its own. It's amazing that music does that to people.
"We [Sherbet] really didn't have plans to take over the world or anything like that at all when we started out. We were just playing music together and having lots of fun. Forty-seven years later, I'm still playing gigs and making myself happy. To be noticed by the ARIA Hall of Fame is something to cap it all off."
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But for all the highs, Braithwaite's career has had its share of lows. In the early '90s he was sued by former managers over fee entitlements before he and his record label parted ways (he re-signed with Sony in 2013).
Since then, Braithwaite has toured widely and will appear at Falls Festival at the end of the year. The singer joked that he'll have to practise his on-stage banter given a large chunk of the crowd will be 18 years old and born well after Horses dominated the airwaves.
Daryl Braithwaite has been inducted into the ARIA hall of fame.
"It might be a challenge because maybe they won't know some songs, but maybe they will," he said. "I know we'll do the best we can and enjoy it."
ARIA chief executive Dan Rosen said he was excited Braithwaite would join the likes of John Farnham, Olivia Newton-John and Jimmy Barnes.
"With his many timeless songs that have crossed generations of Aussie music fans, Daryl Braithwaite is one of our country's musical legends," he said. "The longevity of his recording career is a testament to his enduring talent and artistry."