Jan
12

How David Bowie Changed Wall Street

By

Dan Chung/Reuters

David Bowie was known for his ability to reinvent himself. But he also helped inspire a pocket of Wall Street that tries to create money out of weird things like billboard rental income, cellphone tower lease payments and literary or film libraries.

In 1997, Mr. Bowie bundled up nearly 300 of his existing recordings and copyrights into a $55 million security that paid the buyer — Prudential Insurance Company of America — a 7.9 percent annual rate over 10 years, backed by the income from his royalties and record sales, and the licensing of his songs for films or other uses…

How David Bowie Changed Wall Street

Share
Categories : Uncategorized

Leave a Reply

You must be logged in to post a comment.