David Bowie, known for his eccentric style of music, fashion, and theatrical performances has passed away January 10, 2016. He was very influential to several generations from the 70’s to the 80’s and more. What most people forget is his contribution to the financial industry. He was a financial innovator with his famous “Bowie Bonds”.
With the help of investment banker David Pullman, David Bowie set the path for securitization of intellectual property (IP) with a $55 million bond in 1997. Securing this esoteric IP can be seen today in the music, film, and digital publishing or formally known as asset backed securities (ABS). Also, this led to the financing of Motown, James, Brown, Marvin Gaye, Iron Maiden, Rod Stewart, and more. Today this billion dollar market is flourishing with liquidity on various electronic communication networks (ECN’s).
Thank You David Bowie for being an innovator!!