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Annie Leibovitz Pawns Life work

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3 replies
Posted by Mike Moats on March 31, 2009 at 7:08 PM
One of the most famous commerical photographer of her time filing for bankruptcy and pawns her life's work. I was shocked when I heard and read this. Tough times for even the most well known. http://www.independent.co.uk/arts-entertainment/art/news/leibovitz-pawns-her-lifes-work-to-raise-16m-1631354.html
Posted by Richard Wong on March 31, 2009 at 7:15 PM
That story was floating around last month. From what I understand I think the problem has to do w/ her inheriting her lover's estate when she died and owing taxes on that and not so much to do with the photography industry.
Posted by Jack Graham on March 31, 2009 at 11:07 PM
I bet theres more to this than what it appears
Posted by Ron Niebrugge on April 1, 2009 at 12:11 AM
Yeah Richard is right, she had to pay a 50% tax when she inherited substantial assets (as in multiple millions) from her longtime partner. Not to get into the political issues behind same sex marriage, but that is much more to do with the issue then her very successful photography business.