Bear Stearns Analyst Turned Music Mogul Eyes $15 Million Payday
- Round Hill Music Royalty Fund agrees takeover by Alchemy
- Deal will bring multi-million payout to founder Josh Gruss
Round Hill’s music portfolio contains more than 120,000 songs including The Beatles’ She Loves You and The Twist by Chubby Checker.
Photographer: Christopher Goodney/Bloomberg
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Investing in royalties on tracks by The Beatles and Celine Dion has netted a fortune for a former Bear Stearns & Co. analyst.
Josh Gruss, 49, stands to pocket almost $15 million after the takeover of Round Hill Music Royalty Fund Ltd., which he founded in 2010.