Sunday, July 6, 2014
Lou Reed’s estate has risen by $20.4 million since his death, and according to documents with the Manhattan Surrogate Court, the singer’s estate now totals $30 million.
The New York Post reports that the additional money “is likely from Reed’s copyright and publishing interests, which, in his will, he instructed [his manager Robert Gotterer] to treat as his own.”
The main beneficiary of Reed’s will is his wife, whom he left his Manhattan apartment and property in the Hamptons. She will also receive $15 million of the money Gotterer collected.
See Lou Reed Leaves $30m Fortune, The Guardian, July 1, 2014.
Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.