Lou Reed Net Worth

About Lou Reed

Category	Richest Celebrities › Singers
Net Worth	$15 Million
Birthdate	Mar 2, 1942 – Oct 27, 2013 (71 years old)
Birthplace	Brooklyn
Gender	Male
Height	5 ft 10 in (1.78 m)
Profession	Musician, Songwriter, Singer, Record producer, Singer-songwriter, Photographer, Guitarist, Actor, Voice Actor, Film Score Composer
Nationality	United States of America

Compare Lou Reed’s Net Worth

Lou Reed’s Net Worth

Lou Reed, a singer, songwriter, and musician, had a net worth of $15 million at the time of his death in 2013. Reed first gained recognition for his work with the rock band the Velvet Underground in the 1960s. After leaving the group in 1970, he went on to have a successful solo career spanning five decades. Reed’s talent and contributions to the music industry earned him two inductions into the Rock and Roll Hall of Fame, in 1996 and 2015.

Highlights

– Lou Reed had a net worth of $15 million at the time of his death.

– He achieved recognition as a member of the rock band the Velvet Underground.

– Reed had a successful solo career spanning five decades.

– He was inducted into the Rock and Roll Hall of Fame twice, in 1996 and 2015.

Early Life

Lou Reed was born on March 2, 1942, in Brooklyn, New York City. He was raised in Freeport, Long Island, by his parents Toby and Sidney. Reed attended Atkinson Elementary School and later Freeport Junior High School. It was during his youth that he developed a passion for rock and rhythm and blues music. Reed learned to play the guitar by listening to the radio and performed with several bands during his high school years. He also began experimenting with drugs during this time.

Career

Reed’s music career began with the doo-wop trio called the Jades. They recorded their first single, “So Blue,” after participating in a talent show at Freeport Junior High School. Despite early success, Reed faced mental health struggles and had a mental breakdown during his first year at college. After recovering, he continued his education at Syracuse University, where he studied creative writing, journalism, and film directing. In 1961, Reed started hosting a late-night radio program called “Excursions on a Wobbly Rail.”

After graduating from Syracuse in 1964, Reed moved to New York City and became an in-house songwriter at Pickwick Records. He wrote and recorded the single “The Ostrich” for the label, which was a parody of popular contemporary dance songs.

The Velvet Underground

In 1964, Reed formed the rock band the Velvet Underground along with John Cale, Sterling Morrison, and Angus MacLise (later replaced by Moe Tucker). Reed served as the main singer and songwriter for the band. They gained the attention of artist Andy Warhol, who suggested adding German model and singer Nico to the lineup. The Velvet Underground released their debut album, “The Velvet Underground & Nico,” in 1967. Despite its initial commercial failure, the album became highly influential in rock music history.

The band released several more albums, including “White Light/White Heat” in 1968, a self-titled album in 1969, and “Loaded” in 1970. Reed eventually left the band, which disbanded in 1971. In 1990, the Velvet Underground reunited for a benefit show and later for a European tour. They were inducted into the Rock and Roll Hall of Fame in 1996.

Commercial Breakthroughs as a Solo Artist

In 1971, Reed signed with RCA Records and released his self-titled debut solo album. The following year, his second solo album, “Transformer,” became his commercial breakthrough. The single “Walk on the Wild Side” was a major hit for Reed, peaking at number 16 on the Billboard Hot 100. Reed continued to release albums throughout the 1970s, including “Berlin,” “Rock ‘n’ Roll Animal,” and “Sally Can’t Dance.”

Reed’s career experienced ups and downs, with albums such as “Metal Machine Music” and “Coney Island Baby.” In the 1980s, he released successful albums such as “The Blue Mask,” “Legendary Hearts,” “New Sensations,” and “New York.” Reed collaborated with former bandmate John Cale on the album “Songs for Drella” in 1990 and continued to release albums until his final solo album, “Hudson River Wind Meditations,” in 2007.

Personal Life and Death

Lou Reed had multiple romantic relationships throughout his life. He married Bettye Kronstad in 1973, but they later divorced. He then dated transgender woman Rachel Humphreys before marrying British designer Sylvia Morales in 1980, with whom he later divorced in 1994. Reed began a relationship with artist Laurie Anderson and they married in 2008.

Reed faced health issues, including diabetes and hepatitis. He underwent a liver transplant in 2013 after being diagnosed with liver cancer. Unfortunately, Reed passed away at the age of 71 on October 27, 2013, at his home in New York. He was posthumously inducted into the Rock and Roll Hall of Fame as a solo artist in 2015.

Net Worth Over Time

Lou Reed’s net worth of $15 million remained consistent until his death in 2013.

Components of Net Worth

Reed’s net worth primarily came from his successful music career as a singer, songwriter, and musician. He earned income from album sales, concerts, and royalties. Additionally, Reed’s involvement in photography, acting, and film score composition contributed to his overall net worth.

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