Jim Stewart was an American record executive and producer. Stewart had a net worth of an estimated $1 Million to $5 Million at the time of his death.
Jim Stewart died “peacefully, surrounded by his family,” according to a statement released by Stax Museum of American Soul Music on December 5, 2022. His funeral arrangements have not been made public.
He co-founded Satellite Records, later known as Stax Records, in 1957 after convincing his sister, Estelle Axton, to take out a second mortgage on her home and join him.
Stax Records became one of the leading recording companies during the 1960s and 1970s heydays of soul and R&B music. During this time, the label also had a number of hits on the Billboard Hot 100 pop music chart.
From the early 1960s to the mid-1970s, the record label and recording studio on McLemore Avenue in South Memphis became a haven for a new generation of Memphis R&B hitmakers.
Stewart was inducted into the Rock and Roll Hall of Fame in 2002, and the institution stated that “As producer, engineer, businessman and mentor, Jim Stewart was at the center of it all.”