Take that crown off, dear. The queen has been dethroned.
Annie Leibowitz is paid $2 million dollars a year by Vanity Fair for her "amazing" work (15-year-olds posing nude is something our society simply cannot live without, you know). $2 MILLION. So how, how, HOW does this woman get herself into so much debt that she loses all the rights to her own work? How greedy and ridiculous must she be to need to borrow upwards of $15 million in order to maintain her lifestyle? According to this article, it's certainly not going to her set designers or stylists, unless, or course, they sue her stingy ass.
Apparently the money's being used to renovate her townhouses, which she also put up as collateral for the loans (which makes total sense: put a bunch of borrowed money into the thing you're using as collateral for the loans! That way, when you default, not only do you lose your homes, but you lose all the money you borrowed too! Brilliant!) So until all those loans are paid off, the rights to some of the most influential mainstream photographs belong to some trumped up pawn shop. Way to go, Annie. You freaking idiot.
The moral of this story? LIVE WITHIN YOUR MEANS, PEOPLE. Even rich assholes can go broke.
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