Net Worth Ranker
What Is Dana York Net Worth’ Net Worth?
Dana York, widely recognized as Dana Petty, boasts a net worth of approximately $90 million as of 2024. Her financial standing is primarily attributed to her being the widow of the legendary musician Tom Petty. While Dana York had a career as an educator, including a role as a principal, the majority of her wealth is derived from her inheritance and subsequent management of Tom Petty’s estate.
Details of Dana York’s Assets and Real Estate Holdings
Dana York’s assets include several high-value real estate properties. At the time of Tom Petty’s death in October 2017, the couple resided in a 5,300 square foot Malibu estate that Tom purchased in 1998 for $3.8 million. In addition to their primary residence, they owned a Malibu cottage on Escondido Beach, which Dana sold in early 2023 for $10.3 million, realizing a substantial profit from the property’s appreciation. They also owned a $1.8 million home in LA’s Pacific Palisades neighborhood. This property was later occupied by Dana’s son from a previous relationship, Dylan Epperson.
In September 2020, Dana Petty expanded her real estate portfolio by purchasing a new home in LA’s Brentwood neighborhood for $4.7 million. Further demonstrating her investment in real estate, in November 2023, she acquired a home in LA’s Little Holmby neighborhood for $6.6 million. These acquisitions highlight Dana York’s active involvement in the real estate market and her strategic approach to wealth management.
Estate Inheritance and Legal Disputes
Following Tom Petty’s accidental death from a drug overdose on October 2, 2017, Dana York, as his widow, became the directing trustee of his estate, valued in the millions. However, the administration of the estate soon became contentious. Tom Petty’s daughters from a previous marriage, Adria Petty and Annakim Violette, became involved in a dispute with Dana over the control and management of their father’s musical legacy and assets.
In 2019, Dana filed a petition in Los Angeles Superior Court, requesting court supervision of the estate’s decision-making process, alleging difficulties in collaborating with Adria. Adria responded with a competing petition, claiming that Dana had not properly administered the trust. On May 15, 2019, Adria and Annakim filed a civil suit on behalf of Petty Unlimited LLC against Dana, alleging that Dana was diverting business opportunities from Petty Unlimited LLC to Tom Petty Legacy LLC, a company she formed. The daughters sought over $5 million in damages, citing breach of fiduciary duty, unfair competition, and unjust enrichment. Dana’s attorney called the suit “destructive nonsense.”
The daughters argued that Tom Petty wanted all three parties equally involved in decision-making regarding his estate, while Dana Petty maintained that he had made her sole executor. Ultimately, in December 2019, Dana and Tom Petty’s daughters reached a settlement agreement. They formed Tom Petty Legacy LLC to manage all aspects of Tom’s legacy, with each member of the family having equal standing in the company. As part of the agreement, all litigation matters were dismissed, and a new management team led by Will Botwin and Coran Capshaw at Red Light Management was established to guide and advise the estate.
