Lou Reed’s $30 Million Legacy
The legendary rocker left behind a massive estate when he died in 2013
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.
Believed to have been shot to death soon after abduction