Paul Simon's net worth is expected to reach a whopping mark after the singer sold a portion of the Simon $ Garfunkel catalog to BMG for a whopping amount.
BMG officially acquired a part of the Simon & Garfunkel catalog, which is considered one of the most sought-after duos records in history, for an undisclosed whopping stake, the company confirmed Thursday. The deal includes the Simon & Garfunkel recordings and Simon's neighboring rights income after the singer previously sold his publishing catalog to Sony Music Publishing.
Paul Simon Sells Music Catalog to BMG
As reported by Variety and Billboard, the deal includes the hit songs the rock duo released over the past years, including "Bridge Over Troubled Water," "The Sound of Silence," "Mrs. Robinson," and "The Boxer," to name a few.
The deal ultimately became one of the "most significant" acquisitions the company closed in recent years, although it does not cover the singer's solo recordings.
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"In any list of the true greats, Paul Simon stands as one of the pillars of popular music history," said BMG's president of repertoire & marketing, Los Angeles and New York Thomas Scherer. "We will play our part to ensure his music continues to be honored and respected."
Meanwhile, BMG CEO-designate Thomas Coesfeld expressed the company's delight after securing the agreement as it shared its desire to become the best home of the greatest artists.
Simon's Simon & Garfunkel catalog became the latest deal BMG created following the acquisitions of rights and royalties of the music created by The Hollies, ZZ Top, Tina Turner, John Legend, John Lee Hooker, Harry Nilsson, Peter Frampton, and Mick Fleetwood, among others.
BMG declined to reveal the exact financial details about Simon's catalog, but a source told Rolling Stone that both parties agreed on an 8-figure deal.
Paul Simon Net Worth 2023
The recent acquisition is yet to affect Simon's finances directly, but Celebrity Net Worth already estimates his current net worth to be around $200 million.
Previously, Simon secured a $250 million deal with Sony Music Publishing over his entire music catalog, including his rights as a songwriter and publisher.
His net worth is expected to balloon due to the recent deal, but Simon's continuous work in the music industry also brings him financial stability.
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