Lou Reed has proved to be more profitable in death than in life, with his estate having been swelled by $20.4m since his death, in addition to the money distributed in his will.
According to documents lodged with Manhattan Surrogate Court by Reed's manager Robert Gotterer, the singer's estate totals $30m , with two-thirds of that having been gathered by Gotterer since Reed's death at the age of 71 last year.
The New York Post reports that the additional money "is likely from Reed’s copyright and publishing interests, which, in his will, he instructed Gotterer to treat as his own".
The main beneficiary of Reed's will is his wife, Laurie Anderson, to whom he left his $7m( £4m) Manhattan apartment, as well as a $1.5m (£880,000) property in the exclusive Hamptons area of Long Island. She will also receive $15m of the money Gotterer collected.
Reed left his sister Margaret Reed Weiner $500,000 to care for their mother, but she will receive a further $5m from the money Gotterer collected.
The fortune left by Reed speaks of careful management, for he never had a breakout hit during his career. His biggest hit album in the US, 1974's Sally Can't Dance, reached no higher than No 10, and he stalled his commercial momentum by following it with Metal Machine Music, four sides of white noise.
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