Lou Reed’s $30 Million Legacy
The legendary rocker left behind a massive estate when he died in 2013
June 30, 2014
Lou Reed presents on November 16, 2012 in Madrid, Spain. (Carlos Alvarez/Getty Images)
When Lou Reed died in October 2013, the rocker left behind more than just his iconic music catalog. According to the New York Post, he also left a whopping $30 million fortune.
Robert Gotterer, the Velvet Underground frontman’s longtime manager, reported to Manhattan Surrogate’s Court last week that he has collected $20,379,169 since being appointed to oversee Reed’s estate in November.
And the $20 million-plus in “money and other property” doesn’t include the approximately $10 million in gifts Reed left to his wife, sister and mother in his will.
The Brooklyn-born writer, poet, and musician made millions off copyrights, and publishing ventures, and with the enduring popularity of songs like “Walk on the Wild Side” and the oft-covered “Pale Blue Eyes,” the royalties will likely continue rolling in.
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Stephanie Butnick is the founder of GOLDA, a Jewish lifestyle newsletter. She hosted the Tablet podcast Unorthodox, co-authored The Newish Jewish Encyclopedia: From Abraham to Zabar’s and Everything in Between, and worked as a writer and editor at Tablet.
