François-Henri Pinault (from official Kering Bio)
Creative Artists Agency (CAA), the talent agency founded by people like Michael Ovitz and Michael S. Rosenfeld, is in play. French luxury goods magnate François-Henri Pinault is reportedly ready to spend $7 billion for a majority stake in the firm.
François-Henri Pinault is probably best known as the husband of actress Salma Hayek. He has an estimated net worth of $40 billion.
According to a report in Bloomberg, François-Henri Pinault is in talks to take over CAA from its current owner private equity firm TPG Inc., which owns 54% of CAA.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
François-Henri Pinault, 61, began his career at his father’s company, Pinault-Printemps-Redoute, a French retail company. In 1990, he became president of Pinault-Printemps-Redoute, and in 1999, the company changed its name to PPR.
In 2005, PPR acquired the Gucci Group, an Italian luxury goods company. This merger resulted in PPR being renamed Kering. Under Pinault’s leadership, Kering has grown into one of the largest luxury goods companies in the world.
Pinault is also a prominent contemporary art collector. He owns an art collection that includes works by artists such as Jeff Koons, Damien Hirst, and Andy Warhol.
Creative Artists Agency (CAA) is an American talent and sports agency based in Los Angeles, California. It is regarded as one of the most influential companies in the entertainment industry and manages numerous clients in film, television, music, sports, and digital content.
CAA was founded in 1975 by Michael Ovitz, Michael S. Rosenfeld, Rowland Perkins, Ronald Meyer, and Bill Haber. The agency quickly rose to prominence and became known for its aggressive representation of talent. In the early 1990s, CAA was involved in a bidding war with rival agency International Creative Management (ICM) for the rights to represent Steven Spielberg. The bidding war eventually led to the merger of the two agencies, but CAA emerged as the dominant player in the industry.
Today, CAA represents a wide range of clients, including Tom Hanks, Steven Spielberg, Ava DuVernay, Shonda Rhimes, Samuel L. Jackson, and Pete Davidson. The agency also has a strong presence in the sports world, representing athletes such as LeBron James, Tiger Woods, and Serena Williams.
And Salma Hayek is also a client.
