Here’s Who Inherited Stevie Ray Vaughan’s Money After His Death
Stevie Ray Vaughan’s musical journey
Stevie Ray Vaughan, born in Dallas, Texas on October 3, 1954, discovered his love for music early. The guitar prodigy dropped out of school at the age of 7 to pursue music full-time. Forming the band Double Trouble in 1981, Vaughan’s talent caught the eye of legends such as David Bowie. His journey from garage bands to Bowie’s Let’s Dance album marked the beginning of his extraordinary career.
The riddle of inheritance
Vaughan’s sudden death in a helicopter crash in 1990 left fans in mourning and questions about his assets. Without a will, spouse or children, the laws of succession came into play. Following state regulations, Vaughan’s next of kin, his brother Jimmie Vaughan, took control of the estate. To this day, Jimmie oversees Stevie Ray Vaughan’s legacy.
Surprising property value
Contrary to expectations, Stevie Ray Vaughan’s estate was not as large as one might assume. The assets, totaling $672,057.56, included stocks, a Chevrolet Caprice, 34 guitars, speakers and amplifiers. However, his estate also faced $68,850 in debts. In addition, the helicopter company paid the Vaughan family a $300,000 settlement.
Jimmie Vaughan’s role in Legacy
Jimmie Vaughan’s responsibility for his brother’s estate brings both privilege and oversight. Controlling posthumous releases, Jimmie oversaw albums such as “The Sky Is Crying” and “Live at the El Mocambo”. These posthumous albums, surprisingly, surpassed the popularity of Vaughan’s work during his lifetime. The estate’s earnings from these releases fueled discussions of Jimmie potentially capitalizing on his brother’s fame.
The Vaughan estate, managed by Jimmie, experienced an unexpected surge in popularity after Stevie’s death. Albums like “The Sky Is Crying” became bestsellers, indicating the continued appreciation of Vaughan’s music long after his death. The collaborative album “Family Style” also topped the charts just a month after Vaughan’s death, leaving fans to wonder about the lasting impact of his musical legacy.
Stevie Ray Vaughan’s influence on rock music remains immeasurable. Despite the challenges of managing his estate, Jimmie Vaughan continues to preserve and promote his brother’s musical legacy. While posthumous releases attract new listeners, Stevie Ray Vaughan’s timeless songs ensure his memory and influence will live on, making him an eternal icon in the blues and rock world.