David Bowie, who's made a career of outrageous moves, has one-upped even
himself and guaranteed a lifetime of "sell-out" jokes by issuing what some are
calling "Bowie Bonds."
Bowie has offered investors a chance to profit from
future sales of his back catalog by buying the bonds, which are expected to
mature in about 10 years and top out around a 7.9% yield (which is about 1.5%
higher than current rate on U.S. Treasury Bonds.) The unusual offer, made
possible by the fact that Bowie owns all his master tapes (including classic
albums like The Rise & Fall of Ziggy Stardust), has already reportedly
netted the chameleonic singer a cool $55 million, with more to come once the
principle on the bonds has been paid out, sometime before Bowie's 70th
birthday. By then we fully expect he will have permanently replaced himself
with a robotic facsimile.
Investors have cautiously given this Bond issue
a thumbs up, mainly because a handful of Bowie's classic albums still sell
nearly a million copies every year. Once the principal on the bonds has been
paid out, all future royalties will go straight to Bowie, who mined a different
kind of gold on Wednesday (February 12) when he graciously received a star on
the Hollywood Walk of Fame. Dapper as always, Bowie had his supermodel wife,
Iman, in tow, as well as right-hand guitar man Reeves Gabrels to share his
honor, which he described as "a very nice thing." Like his bonds, Bowie's star
is sure to get a lot of action, based on its primo placement on Hollywood
Boulevard outside the Hollywood Entertainment Museum.