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|Eisner in October 2010|
|Birthday/Birthplace||Michael Dammann Eisner
(1942-03-07) 7 March 1942
Mount Kisco, New York, U.S.
|Lives Where||Los Angeles, California|
|College(s)||Denison University (B.A.)|
|Hometown||Los Angeles, California|
|Net worth||US$ 1 billion (2015)|
|Board member of||The Walt Disney Company
(Former chief executive officer),
|Wife/Husband||Jane Breckenridge (1967–present)|
Stacey Bendet (daughter-in-law)
Michael Dammann Eisner (Mount Kisco, March 7, 1942) is an American manager and businessman. He has been chief operating officer of Paramount Pictures from 1976 to 1984, executive director of The Walt Disney Company from 1984 to 2005 and founder of the investment fund The Tornante Company.
Eisner spent his childhood in a wealthy family on Park Avenue (New York), a descendant of Austrian Jewish immigrants: his great-grandfather Sigmund Eisner had come to the United States in the 19th century and made his fortune as a textile entrepreneur. from obtaining a bachelor’s degree from the Lawrenceville School in 1960, he entered the private Denison University of Ohio and graduated in English literature in 1964.
The beginnings of his professional career were linked to the big American television networks. After a brief stint on NBC and CBS, in 1966 he was hired by American Broadcasting Company (ABC) to take over the direction of regional programming in the state of New York. His work caught the attention of Barry Diller, who recommended his promotion to the vice presidency of national programming in the 1970s. From that position he devoted himself to developing series such as Happy Days (1974) and promoted children’s programming.
When Barry Diller became president of Paramount Pictures in 1976, Eisner accompanied him as head of operations for the studios.During the tenure of Diller and Eisner, Paramount was characterized by approving tight budget projects that became blockbusters, such as Saturday Night Fever (1977), Grease (1978), Airplane! (1980), Raiders of the Lost Ark (1981), Beverly Hills Cop (1984), the first three films of the Star Trek series and the Cheers series (1982).
The Walt Disney Company
In September 1984, Walt Disney Productions hired Eisner as executive director, along with Frank Wells as president and chief financial officer, and at that time, Disney was in a delicate situation and there had been a struggle power by which Roy E. Disney forced the departure of the former head, Ron W. Miller To revive the company, Eisner reinforced the animation studio with the commission of two films, Who cheated Roger Rabbit? (1988) and The Little Mermaid (1989), which were a critical success and fundraiser, at the same time acquired The Jim Henson Company in 1990.
In 1990, Eisner presented the ambitious “Disney decade” plan that aimed to diversify the Walt Disney Company’s investments into one of the largest media groups in the US On the one hand, the animation studios resurfaced thanks to the success of the series for television (Ducktales, Darkwing Duck, TaleSpin, Gargoyles) and of the feature films (Beauty and the Beast, Aladdin, The Lion King), as well as the beginning of a fruitful collaboration in digital animation with Pixar studios. On the other hand, the purchase of the distributor Miramax (1993), television channels ABC and ESPN (1996) and even two sports teams were carried out: the Mighty Ducks of Anaheim (ice hockey) and the Anaheim Angels ( baseball).
Real estate investments in Walt Disney Parks and Resorts were maintained with the construction of numerous amusement parks and resorts that would expand the Disney brand worldwide, among them Disney’s Hollywood Studios (1989), Disneyland Paris (1992), cruise ship Disney Cruise Line (1996) and Disney California Adventure (2001).
Frank Wells died in a plane crash in 1994 and the replacement was expected to be Jeffrey Katzenberg, head of Walt Disney Animation Studios, but Michael Eisner preferred to appoint Michael Ovitz instead. Disgusted by the lack of confidence, Katzenberg decided to leave Disney and founded DreamWorks SKG studios with the financial support of Steven Spielberg and David Geffen, something that would end up affecting the whole Disney group, Ovitz only remained in the presidency fourteen months, after which Eisner dismissed him with a millionaire compensation.
In 2003, Roy E. Disney, the last direct relative of Walt Disney, resigned from all his positions and accused Eisner of having turned Disney into an “insatiable, soulless” company. The role of Eisner was weakened by the fall in revenue of Walt Disney Animation, the breakdown of relations with Pixar and a debt of more than 9,000 million dollars in the last five years. In February 2004 the cable operator Comcast submitted a hostile takeover on Disney valued at 52,000 million dollars; although Eisner rejected it, it was open to consider higher offers, something that worried the board of directors. [ 13] At the annual shareholders’ meeting held on March 3, 43% of the shareholders – almost all led by Roy Disney – voted against their two decades of management. Eisner had to leave the presidency of Walt Disney Company in 2004 and remained as CEO until 2005, when he was replaced by Robert Iger.
The Tornante Company
Mark Cuban and Michael Eisner at the SXSW festival (2008).
Shortly after leaving The Walt DIsney Corporation, Eisner founded the investment fund The Tornante Company in 2005. Through this company he has promoted the creation of the digital production company Vuguru (2006), the purchase of the collections company Topps (2007), and the financing of television series such as Glenn Martin DDS and BoJack Horseman.
Between 2006 and 2009 he presented the Conversations with Michael Eisner program on CNBC, in which he interviewed entrepreneurs and business executives.
In 2012 the Academy of Arts and Television Sciences included Eisner in the Television Hall of Fame.
Michael Eisner Net Worth – $1 Billion
More Facts about Michael Eisner
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