Back in 1996, Prince shared some wisdom in Rolling Stone…

“

If you don’t own your masters, your masters own you.

”

David Bowie must have read the article because a year later he launched a ballsy coup to buy back his remaining masters from his old business manager.

Bowie partnered with investment banker David Pullman to issue what would become known as “Bowie Bonds”.

Bowie Bonds offered investors a unique investment opportunity where for just $1,000 they could enjoy an interest rate of 7.9% over the course of a decade.

The collateral for the bonds were royalty streams from David Bowie’s past and future album sales and live performances.

Pullman legitimized Bowie Bonds by getting them rated by three different credit agencies: Moody’s, Standard & Poor’s and Fitch.

Through Bowie Bonds, Pullman and Bowie were able to raise $55 million; a good chunk of which Bowie used to buy back the rest of his masters from his old business manager.

When most people think of David Bowie, they think of a once-in-a-generation talent that pushed the boundaries of art and music.

But, what so many fail to realize is that Bowie was also a savvy businessman with some well-honed money-making chops.

Art is business; and business is art.

By Cole Schafer.

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