Let <i> Me </i> Have Some of That ‘Austerity’
Financial World magazine said Wall Street’s 100 top earners suffered a “new austerity” in 1991 that led to their median earnings falling to $9 million from $15 million in 1988.
Heading 1991’s list was George Soros of Soros Fund Management, who earned $117 million.
A notable addition to the 1991 list was Michael Ovitz, Hollywood’s premier talent agent, whose $40 million in earnings gave him the No. 9 position. Ovitz, whose stable includes Steven Spielberg, Barbra Streisand and Madonna, made the list because of the fee he earned for brokering Matsushita’s 1991 buyout of MCA, the parent of Universal Studios.
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