CD Baby
Derek Sivers bequeathed his company to a charitable trust for music education, and had them sell it to Disk Makers. This agreement allows him to receive the minimum allowed by law for such agreement of 5% per year of the company's sale price (annually $1,100,000 pretax, based on a sale price of $22 million as reported by Sivers) until death, while upon death the remainder if any will ultimately go into the trust.
Read more about this topic: Derek Sivers
Famous quotes containing the word baby:
“Every new baby is a blind desperate vote for survival: people who find themselves unable to register an effective political protest against extermination do so by a biological act.”
—Lewis Mumford (1895–1990)