A well-known investor and entrepreneur are Michael Ovitz. The Creative Artist Agency was co-founded by him. The billionaire presided at CAA as chairman from 1945 to 1995.
In the 1980s, he was thought to be the most influential person in Hollywood. Although his parents want him to become a doctor, destiny has other ideas. He decided to seek a career in Hollywood while serving as a tour guide at Universal Studios.
Later, the philanthropist took the helm as CEO of The Walt Disney Company. He served as the chairman of Disney from 1995 until 1997. Tom Cruise, Dustin Hoffman, Kevin Costner, John Belushi, Michael Douglas, Bill Murray, Sylvester Stallone, and many more celebrities are represented by Michal.
What is the Net Worth of Michael Ovitz? Salary, Earnings
Page Contents
As of December 2022, Michal Ovitz had a net worth of $550 million. The philanthropist gained notoriety for co-founding CAA. The businessman paid $139 million to leave Disney. He received $38 million in cash and $100 million in shares from Disney.
A stockholder of the business unsuccessfully sued The Walt Disney Company for paying Michael hefty fees. He was portrayed by Treat Williams in the 1996 television movie The Late Shift. He donated $25 million to the UCLA Medical Center in 1999. Ovitz is a well-known investor and philanthropist.
Businessman Michal Ovitz is quite successful. He is the creator of numerous companies. Ovitz makes donations to charity causes. Michal leads an odd and perilous life.
Where was Michael Ovitz born? Ethnicity, Nationality, Family, Education
On December 14, 1946, Michael Ovitz was born into a Romanian-Jewish family. The businessman was a supplier of alcoholic beverages. Ovitz grew up in Encino, California, where he was born.
The businessman’s classmates included both Sally Field and Michael Milken. He presided over the student body at Birmingham High School in Van Nuys.
He starts working at Universal Studios while going to UCLA. The University of Los Angeles awarded him a bachelor’s degree in theatre, film, and television in 1968. Despite not enrolling in medical school, he managed to land a job at William Morris Agency. He created the Creative Artist Agency alongside four other energetic young people.
Quick Facts
| Celebrated Name: | Michael Ovitz |
| Real Name/Full Name: | Michael Steven Ovitz |
| Gender: | Male |
| Age: | 75 years old |
| Birth Date: | December 14, 1946 |
| Birth Place: | Chicago, Illinois, United States |
| Nationality: | American |
| Height: | 5 ft 7 in |
| Weight: | 65kg |
| Sexual Orientation: | Straight |
| Marital Status: | Married |
| Wife/Spouse (Name): | Judy Reich |
| Children/Kids (Son and Daughter): | Yes (Kimberly Ovitz, Eric Ovitz, and Chris Ovitz) |
| Dating/Girlfriend (Name): | N/A |
| Is Michael Ovitz Gay?: | No |
| Profession: | Businessman, Investor, and Philanthropist |
| Salary: | No |
| Net Worth in 2022: | $550 million |
Is Michael Ovitz Single? Relationship
The businessman and Judy Reich have been married since 1969. His three children are Kimberly, Chris, and Eric. His daughter Kimberly is a fashion designer. Despite being legally Wed to July, Michael is also engaged to Tamara Mellon.
How tall is Michael Ovitz? Weight, Hair Color
Michael Ovitz was born on December 14, 1946, and as of 2022, he will be 75 years old. He stands 5 feet 7 inches tall and weighs 65 kg.
How did Michael Ovitz start his Professional Career?
Michael had issues with the William Morris Agency’s pay and career advancement. He wants to start his own business with Ron Meyer, William Haber, Rowland Perkins, and Mike Rosenfeld as partners. In 1975, after becoming aware of their plans, William Morris fired them. The group obtained a $21,000 bank loan and established a company.
They rented a small office to stay within their budget. They conduct their business at card tables and rented chairs. The partner’s wives work as agency receptionists to support them. Michael sold three new film packing deals in his first week of business. Over the next four years, the CAA developed to become the third-largest Hollywood agency, with an annual booking of $90.2 million.
Under Michael’s direction, the agency expanded to become the world’s premier talent agency for start-up organizations. The corporation goes beyond television and into movies, investment banking, and advertising. When the corporation achieves new heights, the businessman becomes the most influential person in Hollywood. Michal Ovitz was profiled in The New York Times in 1989. Because he was so well-known at the time, executives, directors, and performers declined to speak.
He was promoted from President to Chairman of the Board at CAA. Michael was involved in corporate transactions such as Matsushita’s acquisition of MCA/Universal, Sony’s acquisition of Columbia Pictures, and the financial rescue of MGM/United Artists.
He departed CAA in 1995 to become president of The Walt Disney Company. Michael Eisner, the chairman, is his superior. In 1997, Ovit was let go by Walt Disney. He established the Artist Management Group, Artist Television Group, Artist Production Group, and Lynx Technology Group in 1999. His business, AMG, merged with the management firm The Firm for an unknown price. Michael caused controversy after the merger when he made some remarks in an interview with Vanity Fair, but he later expressed regret.
Now a private investor, the philanthropist. He is among the top 200 art collectors worldwide. Mark Rothko, Pablo Picasso, Jasper Johns, Willem de Kooning, and Barnett Newman are among the artists whose works the businessman owns. Who is Michael Ovitz? is the title of the businessman’s autobiography. My cooperation with CAA and the Disney Company served as the basis for the book.
Also Read: Wife, Girlfriend, And Family Of Adam G. Sevani
