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Olsen Twins now in control of their "empire" and worth $137M each

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Bush_Eats_Beef Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 12:45 PM
Original message
Olsen Twins now in control of their "empire" and worth $137M each
http://money.cnn.com/2005/01/28/news/newsmakers/olsen_t...



LOS ANGELES (Reuters) - Teen moguls Mary-Kate and Ashley Olsen have taken full control of their billion-dollar media empire a few years ahead of schedule by buying out the attorney who helped turn them into global icons, the parties said Thursday.

Robert Thorne said the 18-year-old twins approached him to buy his "very substantial minority stake" in their privately held vehicle Dualstar LLC, where he had risen to CEO during a lucrative 15-year relationship.

"The decision was to respect their desire to take the helm perhaps a few years earlier than I had anticipated," Thorne told Reuters. "But I didn't want to stand in their way provided that I was taken care of, as I was handsomely." Thorne, 50, declined to reveal the size of his stake or how much he was paid. He will serve as a consultant to the Olsens for several months before turning his attention to consulting and management in fashion and entertainment.

Dualstar, with staffers in Los Angeles, New York and London, targets young girls with home videos, CDs, books, apparel, fragrances and Barbie dolls, all bearing the twins' image. Fortune magazine last year estimated they were worth $137 million each.
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pbartch Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 12:51 PM
Response to Original message
1. Wonder if they wanna get married?
Oops.....I'm already married and I'm even the wrong sex!

(old enough to be their mom too)
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ThorsHammer Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 12:51 PM
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2. Minimal talent, but brilliant businesswomen (much like Sean Combs)
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Bush_Eats_Beef Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 01:00 PM
Response to Reply #2
3. Agreed, Combs is a master in the art of self-promotion...
...even when he has nothing of significant value to promote, he finds a way to promote it. Gotta love free enterprise.

:toast:
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ThorsHammer Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 01:01 PM
Response to Reply #3
5. Exactly, I can't stand him, but respect his business skills
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CatWoman Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 01:04 PM
Response to Reply #5
9. he completely sucks as a dancer
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KamaAina Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 01:06 PM
Response to Reply #2
10. At least P. Diddy or whatever it is this week is a decent producer
oh cripes, now the Olsens will read this and decide they want to direct :puke:
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DelawareValleyDem Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 01:00 PM
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4. Any of that money going toward acting lessons?
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CatWoman Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 01:02 PM
Response to Reply #4
7. Weren't they nominated for a Razzie
for that "New York" something movie?
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DelawareValleyDem Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 01:03 PM
Response to Reply #7
8. Yes, they were.
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LDS Jock Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 01:01 PM
Response to Original message
6. a career out of being twins
I still can't believe this is reality.
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