One of the sad realities when a musician leaves us is that their estate often nets more money in their death than when they were alive. This is the case for Lou Reed.
According to NY Post’s Page Six, since Reed’s death this past October, his estate has netted $20 million, making this past fiscal year the most lucrative in his career.
This profit comes from both renewed interest in his half-century-long catalogue and his touring company, Sister Ray Enterprises, selling off pieces of his touring equipment.
Lou Reed’s will had roughly $10 million to distribute upon his death, meaning that his assets have tripled in value. His money has been distributed between his wife, Laurie Anderson, and his sister, Margaret Reed Weiner, and is being handled by his manager of over 40 years, Robert Gotterer.
If you’re interesting in buying some of Lou’s gear, it’s up for auction on eBay for pretty reasonable prices. The inventory will be refreshing every few days.