From the NY Times comes word that celeb photog Annie Leibovitz is experiencing the sort of financial woes you’d not expect from someone who starts out with a $3M salary from Vanity Fair & adds commissions in the hundreds of thousands on top of that.
You sort of wonder how someone can go through a line of credit of $24M in a year—that’s a lot of Hasselblads.
Her friends insist that she’s not blowing it on Ferraris or Modiglianis (since she can get her clients to fork over for whatever she wants in that line), but that’s all the story we’re getting from her side. Meanwhile the company that lent her the $24M is suing her for repayment & may start selling her NY properties or take over the rights to her photographs, since that’s what she used to secure the loan.
Don’t know what moral to read into this. Except with her kind of income she might have considered hiring money managers.
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