Lou Pearlman Net Worth is$300 Million
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Profession: Record producer, Businessperson, Confidence artist, Impresario, Entrepreneur
Date of Birth: Jun 19, 1954
Ethnicity: Jewish people
Country: United States of America
Lou Pearlman was born in New York and has an estimated net worth of $300 million dollars. Lou Pearlman began life as a businessman falsely leasing blimps (that did not exist) to large companies for advertising purposes. When that business failed, he decided to jump on the boy-band wagon, and created two of the most popular boy-bands of the '90's, The Backstreet Boys and NSync. He bilked all off the groups he worked with out of millions of dollars and was eventually jailed for his various fraudulent practices. His release is set for 2029.
Louis Jay "Lou" Pearlman (born June 19, 1954) is a former impresario of the successful 1990s boy bands such as The Backstreet Boys and *NSYNC. In 2006, it was discovered that Pearlman had perpetrated one of the largest and longest-running Ponzi schemes in American history, leaving more than $300 million in debts. After getting caught on the run, and pleading guilty to conspiracy, money laundering and making false statements during a bankruptcy proceeding, in 2008 Pearlman was convicted and sentenced to up to 25 years in prison.
Lou Pearlman was born and raised in Flushing, Queens, the only child of Jewish parents Hy Pearlman, who ran a dry cleaning business, and Reenie Pearlman, a school lunchroom aide. Pearlman is the first cousin of Art Garfunkel. His home at Mitchell Gardens Apartments was located across from Flushing Airport, where he and childhood friend Alan Gross would watch blimps take off and land. According to Pearlman's autobiography, Bands, Brands, & Billions, it was during this period he used his position on his school newspaper to earn credentials and get his first ride in a blimp. (This version of events is disputed by Gross, who claims he was the school reporter, and allowed Pearlman to tag along.)
His cousin Garfunkel's fame and wealth helped fire Pearlman's own interest in the music business. As a teenager he managed a band, but when success in music proved elusive, he turned his attention to aviation. During his first year as a student at Queens College, Pearlman wrote a business plan for a class project based on the idea of a helicopter taxi service in New York City. By the late 1970s, he had launched the business based on his business plan, starting with one helicopter. He convinced German businessman Theodor W"ullenkemper to train him on blimps and subsequently spent some time at W"ullenkemper's facilities in Germany learning about the airships.
Returning to the United States, Pearlman formed Airship Enterprises Ltd, which leased a bli

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Lou Pearlman Latest News

Justin Timberlake, other boy banders share mixed feelings after Lou Pearlman’s death

Several members of the boy bands Lou Pearlman created shared their conflicting feelings about the controversial music mogul following his death. Crooners from *NSYNC, the Backstreet Boys and O-Town each took to social media to offer condolences to the ...
Posted: August 21, 2016, 9:34 am

Superstar K-Pop Boy Band BTS Launch Their American Invasion

This, as opposed to the cautious and muted appropriations of the Lou Pearlman era, is one of the most obvious ways BTS and K-pop forebears like BigBang have evolved the concept of the boy band. It’s a big reason BTS are so much more fun than their peers ...
Posted: November 30, 2017, 2:07 am

Disgraced creator of 'NSync and Backstreet Boys Lou Pearlman dies in prison age 62 while serving 25-year sentence for $300M Ponzi scheme

Lou Pearlman, credited for starting the boy-band craze and launching the careers of the Backstreet Boys and 'NSync, has died in prison. Jail records show the 62-year-old died on Friday while serving a 25-year sentence for a massive Ponzi scheme ...
Posted: August 20, 2016, 3:59 pm
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