Annie Leibovitz, a Well known New York Photographers’ financial woes
Having read the New York Times article tonight - For Annie Leibovitz, a Fuzzy Financial Picture i’m reminded of Michael Jackson’s financial troubles (mainly self inflicted) and, hard times befall even the most successful artists, and this is a complicated story that leaves as much unsaid, as what it says.
“…On July 29, Ms. Leibovitz was sued in State Supreme Court for nonpayment by a company that had lent her $24 million, and which demanded access to her homes so it could begin the process of selling them to satisfy her debt. Ms. Leibovitz had taken out the loan last year, pledging as collateral properties in Greenwich Village and in Rhinebeck, N.Y., her negatives and the rights to her photographs. The lender, Art Capital Group, claims Ms. Leibovitz is behind on hundreds of thousands of dollars in unpaid fees associated with the loans.”
Artists are notoriously bad with money; I don’t want to compare Annie Liebovitz to Rembrandt’s financial problems, but that’s what comes to mind. Maybe, what the real problem is
It’s harder to keep track of large amounts of expenses if there’s no business manager to make many of the business decisions – and it sounds like that’s what Annie Liebovitz needed – she scaled past what she could personally handle – according to the New York Times article
The company she got the loan from, Art Capital Group, appears to thrive off of artists who can’t manage their own money.
Not sure what the resolution will be – but it’s interesting to note that both the very poor and very rich often have similar problems, just the scale of them are different, and of course, the quality of life, is different.


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