Michael Ovitz is a well-known entrepreneur and investor. He is the co-founder of Creative Artist agency. Until 1995, the entrepreneur was the president of CAA. He was considered the most powerful figure in Hollywood in the 1980s. Michael’s parents want him to be a doctor, but fate has other plans. While working as a tour guide for Universal Studios, he decided to pursue a career in Hollywood.
The philanthropist later became the chairman of The Walt Disney Company. From 1995 to 1997, he was the president of Disney. Michal represents celebrities such as Tom Cruise, Dustin Hoffman, Kevin Costner, John Belushi, Michael Douglas, Bill Murray, Sylvester Stallone and many others.
Fast facts
| Famous name: | Michael Ovitz |
| Real name/Full name: | Michael Steven Ovitz |
| Sex: | Male |
| Age: | 75 years old |
| Date of birth: | December 14, 1946 |
| Birth place: | Chicago, Illinois, United States |
| Nationality: | American |
| Height: | 5 feet 7 inches |
| Weight: | 65 kg |
| Sexual orientation: | Straight |
| Marriage status: | Married |
| Wife/spouse (name): | Judy Reich |
| Children/children (son and daughter): | Yes (Kimberly Ovitz, Eric Ovitz and Chris Ovitz) |
| Date/Girlfriend (name): | ON |
| Is Michael Ovitz Gay?: | Not |
| Profession: | Businessman, investor and philanthropist |
| Salary: | Not |
| Net worth in 2023: | 550 million dollars |
Biography of Michael Ovitz
Michael Ovitz was born into a Romanian Jewish family on December 14, 1946. The businessman’s father was a wholesaler of alcoholic beverages. Ovitz was born and raised in Encino, California. Sally Field and Michael Milken were the businessman’s classmates. He was student body president at Van Nuys High School in Birmingham.
While attending UCLA, he began working at Universal Studios. He graduated from Los Angeles University with a degree in theater, film and television in 1968. He did not go to medical school, but got a job at the William Morris agency. Together with four other young colleagues, he founded the Creative Artist agency.
Michael Ovitz Age, Height, Weight
Michael Ovitz was born on December 14, 1946, he is 75 years old as of 2022. His height is 5 ft 7 in and he weighs 65 kg.
Michael Ovitz
Career
Michael was dissatisfied with his salary and promotion at the William Morris Agency. He and his colleagues Ron Meyer, William Haber, Rowland Perkins and Mike Rosenfeld want to start their own company. After learning of their plans, William Morris fired them in 1975. The group obtained a $21,000 bank loan and formed the company.
They rented a small office to stay within their budget. They do their work at card tables and rented chairs. Partners’ wives work as receptionists in agencies and help them. Michael sold three new film packaging contracts in his first week in business. Over the next four years, CAA grew to become Hollywood’s third largest agency, with annual bookings of $90.2 million.
Under Michael’s leadership, the agency has grown to become the world’s leading talent agency for start-up organizations. The company goes beyond television and deals with film, investment banking and advertising. When the company reaches new heights, the businessman becomes the most powerful person in Hollywood. Michal Ovitz was profiled in The New York Times in 1989. Because he was so famous at the time, directors, directors and actors declined to comment.
He was promoted from president to CEO at CAA. Michael was instrumental in business transactions such as Matsushita’s acquisition of MCA/Universal, Sony’s acquisition of Columbia Pictures, and the financial rescue of MGM/United Artists.
Michael left CAA in 1995 to become president of The Walt Disney Company. He reports to President Michael Eisner. Ovit was fired from Walt Disney in 1997. In 1999, he founded four companies: Artist Management Group, Artist Production Group, Artist Television Group and Lynx Technology Group. For an undisclosed sum, his AMG company merged with The Firm’s management group. After the merger, Michael became embroiled in controversy when he made some comments in an interview with Vanity Fair, but later apologized.
The philanthropist is now a private investor. He is one of the top 200 art collectors in the world. The entrepreneur owns works by Mark Rothko, Pablo Picasso, Jasper Johns, Willem de Kooning and Barnett Newman. The businessman wrote a memoir titled Who Is Michael Ovitz? The book is based on my collaboration with CAA and the Disney Company.
Achievements and awards of Michael Ovitz
He didn’t get any recognition.
Michael Ovitz Net Worth in 2023
Michal Ovitz net worth is $550 million as of August 2023. This philanthropist is well known for being the co-founder of CAA. When he left Disney, the businessman paid $139 million. Disney gave him $100 million in stock and $38 million in cash. A shareholder of the company unsuccessfully sued The Walt Disney Company for paying large fees to Michael. Treat Williams played him in the 1996 television movie The Late Shift. In 1999, he gave $25 million to the UCLA Medical Center. Ovitz is a well-known philanthropist and investor.
Michal Ovitz is a brilliant businessman. He is the founder of several trades. Ovitz contributes to charities. Michal’s life is unusual and full of danger.
Michael Ovitz Wife, Marriage
Since 1969, the businessman has been married to Judy Reich. Kimberly, Chris and Eric are his three children. Kimberly, his daughter, is a fashion designer. Michael is legally married to July, but engaged to Tamara Mellon.
Categories: Biography
Source: HIS Education