Lou Reed leaves £17.5 million fortune in will

Assets to be divided among Reed's wife, mother and sister

Lou Reed leaves £17.5 million fortune in will

Photo: Getty

Lou Reed has left a total of $30 million (£17.5 million) in his will – including $20.4m (£12 million) in royalties earned since Reed's death.

Reed died aged 71 in October 2013 after an unsuccessful liver transplant. Since his death, increased requests to use his music led to a dramatic rise in royalties. Reed left $15 million (£8.8 million) to his wife, artist Laurie Anderson, along with two homes in New York, worth a total of £5 million, and his personal property. Reed's only sibling, his younger sister Margaret, has been left $5 million (£2.9 million), plus $500,000 (£293,000) to care for their mother, Toby.

The will was revealed at New York's Surrogate’s Court after it was organised by Robert Gotterer, Reed's manager since 1970, the year The Velvet Underground released their final album, 'Loaded'.

Read More On This Artist

Lou Reed Merchandise
More News
Courtney Barnett announces debut album and streams single 'Pedestrian At Best'
Nas, Mark Ronson, Earl Sweatshirt added to Disclosure and Rudimental's Wild Life festival
L7 lead additions to Download Festival bill
Brian Wilson to release new solo album 'No Pier Pressure' in April
Kendrick Lamar, Thurston Moore and Chet Faker to play Poland's Open'er festival
The Libertines to headline T in the Park festival 2015
House DJ Lil Louis may have been 'permanently deafened' by air horn
More than 100 supposed Aphex Twin demos posted to SoundCloud by mystery user
Actor Jeff Bridges releases ambient album designed to help listeners sleep
Will Butler premieres new song 'Anna' and confirms European tour
Sony partners with Spotify to launch new PlayStation Music streaming service
Tom Petty describes Sam Smith songwriting dispute as 'a musical accident'
The Cribs: 'Having Dave Grohl in the studio was a good omen'
Flight Of The Conchords 'planning on touring' this year according to Jemaine Clement
Kanye West walks through field with baby North West in 'Only One' video – watch
Sam Smith on Adele comparisons: 'It just annoys me'
Kasabian: 'The Brit Awards have a conspiracy to shut rock 'n' roll out'
Jack White reunites The Raconteurs and performs with Loretta Lynn in Nashville – watch
Lil Wayne sues his record label for £34m
Black Sabbath's Geezer Butler arrested following 'bar brawl'
2 Chainz announces plans to run for Mayor of College Park, Georgia
Purity Ring announce UK tour dates

More News

Comments

Please login to add your comment.

Latest Tickets - Booking Now
 
Know Your NME
 

 
NME Store & Framed Prints
Inside NME.COM