Michael Ovitz is a well-known entrepreneur and investor. He co-founded the Creative Artist Agency. Until 1995, the businessman was the chairman of CAA. He was regarded as Hollywood’s most powerful figure in the 1980s. Michael’s parents want him to be a doctor, but fate has other plans. While working as a guide for Universal Studios, he decided to pursue a career in Hollywood.
The philanthropist later became the president of The Walt Disney Company. From 1995 to 1997, he was the chairman of Disney. Michal represents celebrities such as Tom Cruise, Dustin Hoffman, Kevin Costner, John Belushi, Michael Douglas, Bill Murray, Sylvester Stallone, and many more.
Quick Facts
| Celebrated Name: | Michael Ovitz |
| Real Name/Full Name: | Michael Steven Ovitz |
| Gender: | Male |
| Age: | 76 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 2024: | $550 million |
Michael Ovitz Biography
Michael Ovitz was born in a Romanian Jewish family on December 14, 1946. The businessman’s father was a liquor wholesaler. Ovitz was born and raised in Encino, California. Sally Field and Michael Milken were the businessman’s classmates. He was the student body president at Van Nuys’ Birmingham High School.
While attending UCLA, he begins working at Universal Studios. He received his bachelor’s degree in theatre, film, and television from the University of Los Angeles in 1968. He didn’t go to medical school, but he did get a job at William Morris Agency. 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 76 years old as of 2024. His height is 5 ft 7 in and he weighs 65 kg.
Career
Michael was dissatisfied with his pay and advancement at William Morris Agency. He and his colleagues Ron Meyer, William Haber, Rowland Perkins, and Mike Rosenfeld wish to establish their own firm. After learning of their plans, William Morris fired them in 1975. 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 assist them. Michael sold three new film packing deals in his first week of business. Over the next four years, the CAA grew to become the third-largest Hollywood agency, with an annual booking of $90.2 million.
Under Michael’s leadership, the agency grew to become the world’s leading talent agency for start-up organizations. The company moves beyond television and into 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 well-known at the time, executives, directors, and actors refused to comment.
He was promoted from President to Chairman of the Board 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 Chairman 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 company AMG merged with management group The Firm. Following the merger, Michael became embroiled in controversy when he made some comments in a Vanity Fair interview, but he 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.
Michael Ovitz Achievements and Awards
He did not receive any recognition.
Michael Ovitz’s Net Worth in 2024
Michal Ovitz’s net worth is $550 million as of March 2024. The philanthropist is well-known for being a 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. The company shareholder unsuccessfully sued The Walt Disney Company for paying large fees to Michael. Treat Williams portrayed him in the 1996 television film The Late Shift. In 1999, he gave $25 million to UCLA’s medical center. Ovitz is a well-known philanthropist and investor.
Michal Ovitz is a brilliant businessman. He is the founder of several businesses. Ovitz contributes to charitable organizations. Michal’s life is unusual and fraught with 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 he is engaged to Tamara Mellon.
