Andrew Wiley70-year-old, world’s greatest literary agent, hero: he resists temptation significant proposals from the colossal multi-talent agencies of Hollywood. Hungry, they would like to buy his business. He is an ascetic, lives among manuscripts and great writers. Lunch with Salman Rushdiewhich represents. Or with his wife Camie, who makes pottery. Wiley with his Wiley Agencyalso presents works by Calvino and Philip Roth. Approximately 1300 clients is, of course, a lot. But that’s all he does with his team. Follows writers and books. A profession from the past in which he is happy to exist.
The other day he was at a party dedicated to the presentation of a new book about Michael Wolf’s Fox, also his client: “I know everything about them, about the mega-agencies,” he interrupts. “Bad story.” Which brings us to Ari Emanuel, sixty-year-old man, founder Try, the number one agency in the world in terms of number of clients, turnover, diversification and geographical presence. Last year, Ari was in the news for her fairytale wedding to Sarah Staudinger, thirty year old, fashion designer. In Saint-Tropez, obviously. Everyone was there: from Elon Musk to Mark Wahlberg. He officiated the wedding Larry David comedian, co-writer Jerry Seinfeld the television hit of the same name, which brought Seinfeld a billion dollars. He is the richest actor in the world. Ari he is no less. They brought it a year earlier His company’s stock market. Today its capitalization is 6 billion. His salary last year was $308 million. The highest figure of any company in the S&P 500 index, higher than the head of any Hollywood studio. They were once legendary characters with cigars in their mouths and great stars hand in hand.
Self-taught
Like many in America, Ari Emanuel he did it himself. He grew up in Chicago in a close-knit and demanding family with two other brothers, Ram and Ezekiel. His father, a pediatrician born in Jerusalem, fought in the Irgun, the Zionist paramilitary organization. Marsha’s mother was a proud union organizer. She was arrested during the protests and her three young children visited her in prison. Then he opened a live music club where they played rock and roll. This means that there are many legends about the three brothers. At home, the regime resembled a “Marine Corps boot camp.” The strict father demanded continuous discussions from the brothers at the dinner table, especially on current political issues. He provoked them to be more clear and fierce with each other. The result was visible. Today they are known as the Jewish equivalent Kennedy, a clan with vast horizons: Ari, as we know, built an empire. Ram turned to politics. He became the first chief of staff Barack Obama, and then received the seat of mayor of Chicago. Today he is the US Ambassador to Japan. The third brother, Ezekiel, is another genius, a bioethical oncologist, research scientist, provost of the University of Pennsylvania and director of one of the institutes of ethical medicine.
Pino buys agency for Hollywood stars, from Scarlett Johansson to Brad Beatt
So it’s easy to see where Ari got his motivations. He started from scratch in the 90s, starting in the post office Creative agency of artists (CAA) with another legend, Michael Ovitz, in turn, the founder of the agency. Today CAA is number two, independent and aggressive. Then, about ten days ago, an offer came in Francois-Henri Pinaultwhose family controls Kering, acquire a majority stake in CAA through its holding company Artemis for approximately $7 billion. It was this mega-offer that brought to the fore an entire industry that is now valued at many tens of billions of dollars.
Famous clients and Pianult
Among SAA’s clients Tom Hanks, Steven Spielberg, Reese Witherspoon. Two years ago it bought a smaller competitor, ICM, which it represented. Ellen DeGeneres, Samuel Jackson, Pete Davidson. The largest are especially the first two, but below them there are about twenty, of which at least ten are relatively large. There United Talent Agency (UTA), number three, a year ago sold a stake to the fund, in this case a minority one. private equity EqtX. Extraordinary activity across the sector: listing on the stock exchange, sale to a private equity firm or to luxury giants such as the Pinault family, the operation that has perhaps most captured the imagination of industry insiders. Also because Pinault’s wife is actress Salma Hayek, a CAA client.
Is this just a short-term strategic move? Fashion houses hire actors and actresses to wear designer clothes through agencies that represent (and control) them. From the film’s premiere to the Oscars, nothing is left to chance. These agencies are now multinational corporations with several thousand employees, covering all areas of entertainment: from sports to music, from television to news and writers. But today we are talking not only about representing the interests of an actor or sports champion. The first to diversify was Emanuel himself, who quickly moved into covering television rights for sporting events or, in any case, live events such as a concert. It is from there, from diversification, that the highest incomes come. Today William Morris Endeavor watch sporting events, for example Ultimate Fighting Championship, a martial arts tournament, a Miss Universe beauty pageant, a rodeo company that organizes endurance competitions between those who ride and bet on wild bulls. And then participation agreements with the National American Football League and even with the Wimbledon tournaments. All they need is a football team.
And that’s exactly what Pino is aiming for.huge growth potential for CAA, is also already diversified into other sectors, such as e-commerce and the mediation of global multimedia agreements. There is also a small venture capital firm investing in new emerging businesses in the entertainment industry. For Pinault, it is a global business platform, beyond, but not too far beyond, fashion and glamour, which, starting with Hollywood, will allow the company to grow globally. True multinational corporations, very different from the closer relationships that the old agencies had with their clients and which Wiley defends for the sake of idealism and pleasure. Because it is obvious that the God of Money has chosen other paths.