The Rise and Fall of the Stock Market’s Music King
Merck Mercuriadis convinced everyone from pop stars to Blackstone that music was the next hot asset class. It worked out for everyone—but him.
If you find corporate financial filings to be less than scintillating, you might try thumbing through Hipgnosis Songs Fund Ltd.’s 2021 annual report, which at times resembles an issue of Rolling Stone. There you’ll encounter glamorous, full-page portraits and interviews with artist-producer Mark Ronson, his face tilted in semi-profile like a Hollywood star; former Fleetwood Mac member Lindsey Buckingham, guitar in his hands; Eurythmics co-founder Dave Stewart, tipping his fedora; and Latin music superstar Shakira, her golden tresses swaying in the breeze or, more likely, animated by an in-studio fan.