Wednesday, January 26, 2022

David Bowie Left $100M Fortune to Wife Iman and his Children

iman & david bowie
Iman and David Bowie

*According to David Bowie‘s will filed Friday in Manhattan Surrogate Court, his estate worth as much as $100 million was left to his wife, supermodel Iman and his two children.

He also left $2 million to his long time personal assistant, Corinne Coco Schwab, and $1 million to another friend, Marion Skene of Switzerland, who was his older child’s nanny.

The 69-year-old singer-actor who died Jan. 10 from cancer asked that he be cremated and his ashes spread in a Buddhist ritual in Bali.

Here’s what the NY Daily News is reporting:

Duncan Jones, a successful director who is Bowie’s son from his first marriage, gets the same 25% share as his half sister in the rest of the musician’s residual estate.

Iman gets the other 50% of his estate plus all of his other real estate, including their apartment in SoHo on Lafayette Street and homes around the world.

Bowie signed his will in 2004, the year when a heart attack in Europe forced him to cancel six concerts.

In 2007, he signed a codicil in which he gave all of his shares in a company called Possum Inc. to Schwab.

Bowie named two friends as his executors, attorneys William Zysblat and Paddy Grafton Green.

The Daily News report also says that before his death, Bowie, whose real name was David Robert Jones, was reported to be one of the richest rock stars in the word.

Although he sold 140 million records in his lifetime, Bowie is said to have made more money from a series of concerts later in his career and from a novel financial gimmick where he sold so-called Bowie Bonds.

In 1997, he sold the ‘bonds’ to investors who would get all the royalties from his first 25 albums for 10 years. After the 10 year period, the rights reverted back to him. The bonds put $55 million in his pocket.

Unfortunately for the investors the sale wasn’t a win-win. That’s because during the decade, artists earned less and less in royalties as people download music for free.

 

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