The lawyer of Robert Sillerman, founder of SFX Entertainment, has confirmed that Sillerman has died of a respiratory illness at the age of 71.
Sillerman formed SFX Entertainment in 1993. He sold SFX’s concert business to Clear Channel in a multi-billion dollar deal in 2000. Clear Channel eventually turned the concert business into Live Nation. Sillerman relaunched SFX in 2012 and acquired Beatport in 2013 making Sillerman a mogul in the electronic dance music industry. Due to poor management, business declined and in 2016, SFX declared bankruptcy as well as laid off the majority of its employees. Sillerman was also ordered to pay $179,000 in a securities fraud case just this year.