Still think media is a recession-proof business?
Tell that to these 24 moguls and execs, some of whom have lost more in the past year than you knew they even had.
From Bob Iger to Edgar Bronfman to Arthur Sulzberger to Martha Stewart, not one major media name was spared from this fall’s financial meltdown.
In some cases, the plunging stock market pushed shares of already ailing industries (music, newspapers) off a cliff, taking company execs’s stakes down with them. In other cases, minor market moves produced major money woes for execs with huge stakes in their own company’s stock.
Here are quick estimates of how much your favourite media execs have lost this year, ranked from least to first. (Unless otherwise noted, all losses refer to stock losses.) Advance the slides using the ‘Next’ button in upper right corner of each slide.
START THE SLIDESHOW NOW>
*The slides for Sumner Redstone and Barry DIller in this slideshow have been revised. We originally stated that Sumner’s loss was $7.2 Billion. Thankfully, he’s only lost $3.9. And Barry’s only down $282 million. We apologise for the errors.
Kamelia Angelova contributed to this slideshow.