7 Things You Should Know About Superstar David Bowie's Real Estate Fortune
January 12, 2016 |
Srinibas Rout
After an 18-month battle with cancer, English musician David Bowie died at the age of 69 on January 11, 2016. British Prime Minister David Cameron described him as the "master of reinvention, who kept getting it right, leaving a body of work that people will still be listening to in a 100 years' time".
A 'genius' in the world of music, entertainment and fashion, Bowie was a big star in the financial world as well.
PropGuide lists seven interesting facts about Bowie's glorious real estate and financial history.
- The superstar lived in many places such as New York, Los Angeles, Sydney, Mustique and London's Kensington and Chelsea District. Bowie's rarely used his magnificent property home at the Gilston Road near The Boltons in west London, as he did not like the constant media buzz around it. He sold it for £7.2 million.
- Bowie stayed mainly in his £5-million penthouse apartment in the Soho district of Manhattan. He also rented properties in many cities in recent years.
- Bowie was also the owner of the Britannia Bay House – also known as Mandalay – on the Caribbean island of Mustique. He later sold the property for £3.5 million in 1995 to publisher Felix Dennis.
- The musician also owned a 14-room 19th century property in Lausanne, Switzerland, which he later sold for £2.5 million in 1999. The same year, he also sold a property he had owned in Los Angeles for an estimated £5 million, according to the Daily Mail.
- In 1997, the musician introduced 'Bowie Bonds' that allowed people to invest in his future earnings. The bonds raised £35 million for Bowie after they were sold to the American insurance company, Prudential Insurance Inc, which paid a 7.9 per cent interest rate over 10 years, as against a 6.4 per cent rate for the US treasury bond yield at that time.
- His son Duncan, daughter Alexandria 'Lexi and his current wife Iman are likely to be the three main beneficiaries of his wealth.
- In a career spanning more than five decades, Bowie had amassed an estimated fortune of £135 million, according to the Sunday Times Rich List.