Originally posted on Business 360:
London (CNN) — Remember Bowie Bonds?
I barely remembered that David Bowie was one of, if not the first, celebrity to securitize his intellectual property to raise cash, through bonds.
In Bowie’s case, he and Prudential Insurance raised funds (Wikipedia says $55 million) in 1997, giving investors interest based on revenue from his catalogue from the 1960s through 2000.
Did it work? It’s hard to say given the story seemed to fizzle out, though it’s fair to say other names have used bonds in a similar manner since then.
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