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Lou Reed Left Behind a Staggering $30 Million Fortune

Lou Reed
Peter Kramer, Getty Images

According to the New York Post, late rock legend Lou Reed left behind way more than a decades-long music legacy. He also left behind a $30 million fortune.

Reed’s manager, Robert Gotterer, declared an estate worth $20,379,169 in cash and other property to Manhattan Surrogate’s Court … and that’s only “so far.” Plus, that figure doesn’t include the $10 million in gifts Reed left in his will for his sister, mother and wife, including a $7 million penthouse. It also doesn’t include life insurance or retirement accounts.

The rocker’s wife, Laurie Anderson, is due $15 million, and his sister, Margaret Reed Weiner, is getting $5 million, which will help her care for their elderly mother.

The massive estate likely stems from Reed’s copyright and publishing interests, which Reed willed to his longtime manager. His 1972 solo hit ‘Walk on the Wild Side’ alone generated a huge chunk of that fortune. And since the former Velvet Underground frontman’s death from liver diseases last October, there has been a flood of requests for use of his music, which could prove to be a profitable venture for Gotterer.

Here’s Reed perfooming his money-making song in the ’80s:

Next: In Defense of ... Lou Reed's 'Metal Machine Music'

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