In the Margins

Musical genius David Bowie also was financial innovator

January 11, 2016

By MarketWatch

Rock legend David Bowie's death at the age of 69 has prompted an outpouring of tributes, but his influence reached beyond the impact of his music. He was also a financial innovator. In 1997 Bowie issued bonds backed by future revenue of the 25 albums he had recorded before 1990, paying a generous 7.9% interest rate over 10 years. The bond issue earned Bowie $55 million, which he reportedly used to buy back songs from his catalog owned by his former manager. Read the original story from MarketWatch.



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