You Can Never Be Too Rich Dept.

amateriat

amateriat

We're all light!
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I've been following this little saga for a while. Any bets on whether her fat will be pulled from the fire in time, either from her own efforts or by some proverbial White Knight? And how does someone making seven figures from Vanity Fair alone get so crazy with money? (Don't answer that, it's merely rhetorical.)


- Barrett
 
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I will say this: I liked her early work, and her later work has always seemed to me to be ever more shallow, in that she was growing rather out of touch with things. This seems like further evidence of such a state. I will not celebrate the misfortune of another, but I will admit to being rather fascinated to see what is going to happen to her.
 
Shame. I used to take Rolling Stone from the mid sixties when it first became available over here and have always liked her work.
 
To Ms. Leibovitz:

Bite the bullet and downsize NOW. Consolidate, give contracts to results oriented galleries world-wide to sell your portfolios. Sell all real estate except for your residence AND rent studio space.

Find a good results oriented financial manager, not a shee-shee boutique accounting firm. Honey, you should be swimming in money, not owing pawn shops. Give me a call when your ready to do business.
 
"In the last five years, Ms. Leibovitz lost her father, her mother and her companion, Susan Sontag; added two children to her family and ....."

I think that under this circumstances I will pass by.

Cheers,
Ruben
 
While she clearly has made bad money decisions, the fact that the art market, and photography market in general, has made it difficult for just about everyone making money off photography, is a big factor in her recovering from those bad decisions. The "fat days" of photography are over.
 
I like her early work. Once she left RS, she became very commercial.
Some of her recent work is, well.... no comment.
Interestingly her personal work is still of a very high caliber. It's almost like you're looking at the work of two different people.

Not sure what's going on with Annie. She should be too smart to have gotten herself in to this mess. Time to sell all the goodies, except for her home and save her negative archive, because that's all that matters.
 
I wonder how many of us given that amount of fame money and success would go off the rails to this extent ... the human condition never fails to surprise!

I hope she pulls through it and learns something from the experience.
 
[FONT=&quot]”The suit states that Art Capital had been in talks with Getty over a sale of Ms. Leibovitz’s archive, valuing it at more than $50 million.”[/FONT]

[FONT=&quot]Such are the problems of the rich and famous.[/FONT]
 
Pickett Wilson said:
While she clearly has made bad money decisions, the fact that the art market, and photography market in general, has made it difficult for just about everyone making money off photography, is a big factor in her recovering from those bad decisions. The "fat days" of photography are over.
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And, if we look at the fine-art market (and markets in general, really) as an elaborate game of musical chairs, it seems as if AL was a bit too preoccupied to notice when the music had stopped. I suppose this is a big part of the Irrational Exuberance Effect.

I agree with Fred: barring something crazy-rash (she's already suffered at least one heart attack, if memory serves), she'll probably muddle her way through this, but will have to account for more than a few burnt bridges in the process. And this is on top of her very personal losses.

Keith said:
I wonder how many of us given that amount of fame money and success would go off the rails to this extent ... the human condition never fails to surprise!

I hope she pulls through it and learns something from the experience.
Click to expand...

I think the main take-away for her in all this is that the ability to make bushels of money doesn't automatically bequeath the knowledge to manage same. Often it's best to leave the latter to someone else.

But not just anybody, of course...


- Barrett
 
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You Can Never Be Too Rich...

You Can Never Be Too Rich...

...when you're stupid with money.

Just ask Michael Jackson.
 
Jackson bought anything he wanted, he owned the Beatles catalogue, and he died with a very large viable estate after having lived a life of enormous luxury.

After the whole thing is sorted out, and he is removed from the equation (as a wild spendthrift), the estate will be worth close to half a billion and will produce a large income.

Who's laughing?

Leibovitz made a deal with a sort of combination vulture/loanshark/factor and she probably has had second thoughts now that the immediate threat of ruin has subsided. She can probably fight it for years before she has to settle it. She might drop dead before that happens, like Jackson. She may come out ahead.



gdi said:
Exactly - I can't imagine any individual matching his level of financial mismanagement.
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Oscar Levant said:
Jackson bought anything he wanted, he owned the Beatles catalogue, and he died with a very large viable estate after having lived a life of enormous luxury.

After the whole thing is sorted out, and he is removed from the equation (as a wild spendthrift), the estate will be worth close to half a billion and will produce a large income.

Who's laughing?

Leibovitz made a deal with a sort of combination vulture/loanshark/factor and she probably has had second thoughts now that the immediate threat of ruin has subsided. She can probably fight it for years before she has to settle it. She might drop dead before that happens, like Jackson. She may come out ahead.
Click to expand...


Yeah I kept seeing how much debt he had - but then I just saw that he had about $500 Million more assets than debt. So I guess he wasn't that bad after all (financially) - if you can do and buy anything you want at anytime and still leave $500mill, who can criticize?
 
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