We’re not surprised that the man who famously used The Art of War as his professional bible made a killing on his Midtown pied-a-terre. Michael Ovitz, who built his reputation and a small army of enemies as the soft spoken, bludgeon-carrying leader of the Creative Artists Agency, didn’t just make a profit off the sale of his Metropolitan Tower condo, he made a 577 percent profit.
This is, after all, the same guy who managed to emerge with a severance package of some $38 million in cash and $131 million in stock options when he was canned as president of Disney after a year on the job, a shove out the door so generous that shareholders sued (they lost, of course). Even when he loses the war, Mr. Ovitz still takes home the spoils. Read More