Money Isn't Everything... But It Helps

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Money Isn't Everything... But It Helps

This is perhaps a bit off-tipic, but it's hard to ignore when one of the world's most celebrated photographers - digital or otherwise - is facing financial ruin.

By now, most of you probably know that Annie Leibovitz - the iconic phtographer who defined "Rolling Stone" magazine for two decades - had a little loan come due today. How little? $24 million.

Leibovitz borowed the money from Art Capital Group as her finaincial dealings spiraled out of control. Property purchases and renovations cost her millions... and she has yet, according to reports, to pay back a nickel of ACG's money.

The result could be the loss, not only of her real estate, but of her entire body of photogaphic work. Leibovitz used her celebrity photos as collateral on the loan.

I don't know that there's any lesson for us here - except perhaps people tend to spend more than they earn, even when they earn millions. But it's a sad day for photographers as one of our "superstars" faces the loss of her entire body of work.

   

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