Famous Photographer Annie Leibovitz owes some serious cash
Famed Rolling Stones and Vanity Fair photographer, Annie Leibovitz, is being sued for 24 million dollars for defaulting on a loan from Art Capital Group. They claimed she breached an agreement that authorized the group to act as the agent in the sale of her photography and real estate.
The questions I would have to ask is why would you need a 24 million dollar loan in the first place. It turns out her stockpiles of images of celebrities and personal collections of photographs is said to be worth over 50 million and real estate worth about 40 million. The way this economy is I guess if you have “assets” to put up for collateral for all means borrow the money, but she is at risk of losing her life’s work and rights to her legacy, which are the most infamous photographs, ie. John Lennon and Yoko Ono. Anyway, I hope she can make it through her troubles.
If you are interested in more information about this story and Annie Leibovitz’s money problems check out this photography artcle.