In 1968, Jimi Hendrix bought a defunct nightclub in New York’s Greenwich Village and turned it into the world’s first artist-owned recording studio. Today, more than 55 years later, that studio is still running — but it has changed hands several times since Hendrix’s death. Here is exactly who owns Electric Lady Studios right now.
Who Owns Electric Lady Studios Today?
Lee Foster and his mentor, investor Keith Stoltz, now run Electric Lady Studios as business partners. In 2010, Foster decided he wanted to take over the studio himself. Storyk introduced Foster to a music-loving private-equity-fund manager named Keith Stoltz, who respected the Hendrix legacy and had a passion for vinyl records. After the two met, Stoltz bought the business — on condition that Foster continue to run it.
So in simple terms: Keith Stoltz is the owner who bought the studio, and Lee Foster is the co-owner and operator who runs it day to day.
Ownership Table
| Owner / Party | Role | Period | Key Detail |
|---|---|---|---|
| Jimi Hendrix | Founder | 1968–1970 | Commissioned the studio; never owned the building itself |
| Jimi Hendrix Estate / Successors | Post-Hendrix Owners | 1970–2010 | Studio passed through various owners after Hendrix’s 1970 death |
| Keith Stoltz | Current Owner | 2010–Present | Private-equity investor; bought the business in 2010 |
| Lee Foster | Co-Owner & Operator | 2010–Present | Former intern; runs daily operations as business partner |
| John Storyk | Original Architect | 1968–Present | Designed the studio; introduced Foster to Stoltz |
How Electric Lady Studios Began
In 1968, Jimi Hendrix and his manager Michael Jeffery bought a newly defunct nightclub called The Generation located at 52 W 8th Street in Greenwich Village. Advisors Eddie Kramer and Jim Marron convinced Hendrix to convert the space into a professional recording studio. Architect John Storyk designed each structural detail, and from there the origins of Electric Lady was born. It would be the only artist-owned recording studio in existence at the time.
The opening, on 26 August 1970, attracted stellar guests, including Eric Clapton, Ron Wood, and Patti Smith. Hendrix died just weeks after the studio opened.
The Struggle and the Comeback
With the emergence of cheaper recording technology that allowed artists to record from home, the studio remained unbooked for 10 months in 2005 and was resold to investor Keith Stoltz several years later.
Following the underwhelming sales of Common’s “Electric Circus,” the studio fell under financial hardship for the rest of the decade. According to the Wall Street Journal, in the early 2010s, Electric Lady was renovated by studio manager Lee Foster and investor Keith Stoltz, effectively breathing new life into the world-renowned recording studio.
After his first dinner with Foster, Stoltz decided not only to help save the studio from impending silence but also to “invest in Lee” as a young businessman. Together, they expanded the studio space and staff and formed Electric Lady Artist Management in 2012.
Who Built the Studio?
Electric Lady is one of the world’s first artist-owned recording studios and one of the oldest, most famous, and most successful studios ever. WSDG co-founder John Storyk was a 22-year-old fledgling architect fresh out of Princeton University when he was hired to design a studio for Jimi Hendrix. Storyk remains connected to the studio’s legacy today and is also the architect who designed it.
Frequently Asked Questions (FAQs)
Q1. Who owns Electric Lady Studios now?
Keith Stoltz owns the studio, with Lee Foster as co-owner and day-to-day operator.
Q2. Did Jimi Hendrix own the building?
No, Hendrix never purchased the building itself — only the recording studio business inside it.
Q3. When did Keith Stoltz buy the studio?
Keith Stoltz purchased the business in 2010, on the condition that Lee Foster continue running it.
Q4. Who designed Electric Lady Studios?
Architect John Storyk designed the studio in 1968 for Jimi Hendrix.
Q5. When did Electric Lady Studios open?
The studio opened on August 26, 1970, in Greenwich Village, New York.
Q6. Was the studio ever in financial trouble?
Yes, it sat unbooked for 10 months in 2005 and struggled financially before its 2010s revival.
Q7. What is Electric Lady Artist Management?
It is a talent management company Foster and Stoltz co-founded in 2012 alongside running the studio.
Q8. Is Electric Lady Studios still operating today?
Yes, it remains an active, in-demand recording studio used by major artists.
Electric Lady Studios is currently owned by Keith Stoltz, a private-equity investor who purchased the business in 2010, and co-run with Lee Foster, the studio manager turned business partner. Jimi Hendrix founded the studio in 1968, but it changed hands multiple times after his death before Stoltz and Foster revived it into the thriving, in-demand studio it is today.
