I’ve often heard people complain that there’s no money to be made in the animation business. That’s not exactly true. It’s just that the money usually doesn’t filter down to the people who actually create the art. Case in point, the NY Post reported that the Manhattan apartment of Bernie Madoff was recently purchased by Al Kahn of 4Kids Entertainment, which is the licensee of Pokémon and Yu-Gi-Oh!:
The millionaire “marketing genius” behind the Pokemon and the Cabbage Patch Kids toy crazes inked a deal to buy Ponzi King Bernie Madoff’s posh penthouse apartment on the Upper East Side, sources said. Al Kahn, CEO of 4Kids Entertainment, signed a contract to buy the 4,000-square-foot home, which was put up for sale by the feds to help recoup cash for the victims of Madoff’s $65 billion scam. The apartment, at Lexington Avenue and East 64th Street, was recently listed at $8.9 million, $1 million less than the original asking price. While the actual sale price is not known, sources said the pad — a three-bedroom, four-bath duplex with a wrap-around terrace — went for just under the asking price in the deal brokered by the Corcoran Group.
That’s nothing though compared to DreamWorks’ Jeffrey Katzenberg, a more admirably creative exec, who plunked down $35 mil for new digs according to The Wall Street Journal:
Media mogul Jeffrey Katzenberg has paid $35 million for a house in Beverly Hills, CA. . . The six-acre property, which was never on the market, sits just above the Greystone Mansion, a Beverly Hills landmark. A long private drive leads to a house on a promontory. Mr. Katzenberg had been shopping for a large property with a view for several years. The home belonged to aerospace pioneer Simon “Si” Ramo, who was instrumental in the development of the intercontinental ballistic missile and co-founded TRW, which was acquired by Northrop Grumman. Mr. Katzenberg, who bought the property under the name of a trust, declined to comment.