Meet One of The Few Gay Billionaires

(see the others)

Barry Diller

Net worth: $4.2 billion

Barry Diller, the media mogul with more plot twists than a soap opera, stands out in the billionaire boys' club not just for his wallet but as one of the few openly gay members. He's a corporate chess master, known for stealthy maneuvers rivaling a cat burglar. Diller, the brain behind the Fox Network - think "The Simpsons" and "Married... with Children" - Expedia and IAC, a behemoth in the internet world with assets like Vimeo and Dotdash, wields a Midas touch more akin to a sledgehammer.

His career, marked with more ups and downs than a malfunctioning elevator, makes him a Hollywood survival story, ripe for its own mini-series. Married to fashion titan Diane von Fürstenberg, he's one half of a power couple that's as unstoppable as they are stylish.

His Net Worth

Forbes and other noted his net worth as a staggering $4.2 - 5 billion. This figure isn't just a static number; it's the culmination of a series of bold business ventures and investments.

Starting with his media mogul days, Diller brought to life the Fox Broadcasting Company in the 1980s, introducing cultural icons like "The Simpsons". His leadership role didn't stop there. As the Chairman of Expedia and Senior Executive of IAC/InterActiveCorp (IAC), he continued to make waves. IAC under Diller became a conglomerate of internet entities, acquiring companies like Vimeo and Dotdash. He didn't just invest in these companies; he cultivated them, displaying a Midas touch in the digital realm.

But let's get a lot more detailed about this media titan, highlighting prominent holdings and Diller's role within them:

IAC (Chairman and Senior Executive):

• Angi: A leading online marketplace for home service professionals, connecting homeowners with contractors for various projects. Diller sees Angi as a "super platform" with immense growth potential.

• Care.com: A platform connecting families with childcare providers, nannies, and senior care services. Diller actively participates in Care.com's strategic direction.

• Daily Beast: A prominent online news and opinion website known for its sharp commentary and investigative journalism. Diller plays a supportive role, allowing editorial independence.

• Dotdash Meredith: A massive digital publishing company owning over 50 brands in home, food, lifestyle, and finance. Diller orchestrated the 2022 merger of Dotdash and Meredith, shaping the platform's future.

• Vimeo: A video-sharing platform popular with creators and professionals. Diller was instrumental in IAC's acquisition of Vimeo in 2020, expanding IAC's content offerings.

• Other notable holdings: Momo (dating app), Clover Health (Medicare Advantage insurer), Searchlight Capital (private equity firm)

Expedia Group :

• Hotels.com: A leading online hotel booking platform with a global reach. Diller's leadership helped steer Expedia through the pandemic and into post-pandemic recovery.

• Expedia.com: Focused on vacation packages and flights, complementing Hotels.com's offerings. Diller emphasizes the importance of personalized travel experiences.

• Vrbo (HomeAway): A vacation rental platform connecting travelers with unique accommodations. Diller sees Vrbo as a key player in the evolving vacation rental market.

• Travel + Leisure Group: Owns a portfolio of travel media brands like Travel + Leisure magazine and the TLC channel. Diller utilizes these platforms to drive traffic and brand awareness for Expedia Group.

• Other notable holdings: Trivago (hotel price comparison), Orbitz (online travel agency), Egencia (corporate travel management)

How He Came Out

It's important to note that Diller himself has not publicly discussed or disclosed details about his sexual orientation.

Still, it's an open secret. He's as gay as a clutch purse at the Tony Awards.

In 2001, New York Magazine's Maer Roshan wrote:

"The recent wedding of Barry Diller and Diane Von Fürstenberg epitomizes the media's convoluted approach to covering gay celebrities. I would not presume to speculate on their relationship, which is said to be a warm and genuine one. But it's also true that Diller did not live as a monk before his marriage at the age of 59 – in fact, while Diller is often referred to as bisexual, he has lived most of his adult life as a more or less openly gay man. He has had both short-term boyfriends and long-term relationships (including one with a former editor-in-chief of The Advocate); he appears frequently at gay parties and gay benefits. His sexual orientation has even been referred to in print with regularity. Still, because Diller had never actually sent out a press release acknowledging he was gay, journalists faced with the news of his wedding were in a quandary: All across Manhattan, reporters offered various explanations – financial and otherwise – for his apparent midlife transformation. But none, of course, made it into print."

In addition, gossip grande dame Liz Smith, a close friend of Barry Diller's claims he asked her over 20 years ago: 'Do you think I should come out?'

Forbes Magazine got in on the act, but only quoting gossip site Gawker's story "Barry Diller's Sexy All-Boy Thanksgiving."  

How He Got Started

Think less silver spoon, more gritty gumption. Barry Diller's origin story isn't your typical rags-to-riches tale. It's more like a masterclass in seizing every opportunity, no matter how small.

High School Hustle: Picture a young Barry in Beverly Hills, but not lounging by the pool. No, this teen was too busy juggling jobs at a local deli and an ice cream shop. Not exactly the corner offices of IAC, but hey, everyone starts somewhere.

College? Not So Much: Who needs college when you've got chutzpah? Diller skipped the university path, diving headfirst into the Hollywood pool. He was more interested in climbing the corporate ladder than strolling through a campus quad.

Mailroom Madness: The real magic started in the mailroom of the William Morris Agency. Imagine this: sorting mail by day, soaking up the glitz and glamour of Hollywood by night. It's like Hogwarts for Hollywood moguls, except instead of wands and wizards, there's contracts and celebrities.

The Fox in the Henhouse: Diller, armed with sheer will and a sharp mind, quickly climbed the ranks. He wasn't just delivering mail; he was delivering ideas, pitching shows to network execs who were more used to hearing from seasoned pros than mailroom newbies.

The Small Screen Pioneer: Before he was a big shot, Diller was a TV visionary at ABC, where he championed groundbreaking programs like "Roots" and "ABC Movie of the Week". He wasn't just thinking outside the box; he was reinventing it.

Master of Networks: Diller's big break came as the Vice President of Prime Time Television at ABC. He was the young gun, the trailblazer, the guy turning TV on its head. Under his leadership, ABC soared from last place to the top of the ratings.

His Big Break(s)

Barry Diller's ascent to mainstream recognition in the entertainment industry was not a singular, explosive event but rather a series of strategic moves and key roles that collectively propelled him to success.

• The Rise at ABC: Diller's early career at ABC was marked by his innovative approach to television programming. He played a pivotal role in the creation of the "ABC Movie of the Week," which revolutionized TV by introducing high-quality, feature film-style content. This move not only garnered critical acclaim but also significantly boosted ABC's ratings, establishing Diller as a forward-thinking executive in the industry.

• Paramount Pictures and the Creation of Hit Shows: During his tenure at Paramount Pictures as Chairman and CEO, Diller was instrumental in developing several hit TV shows. This period saw the birth of classics like "Cheers," "Taxi," and "L.A. Law," which not only enjoyed high ratings but also received critical acclaim, further solidifying Diller's reputation as a creator of successful, quality content.

• Fox Broadcasting Company: Perhaps the most significant leap in Diller's career was his role in the creation and development of the Fox Broadcasting Company. Under his leadership, Fox introduced groundbreaking shows like "The Simpsons" and "Married... with Children." These shows pushed the boundaries of traditional TV content and played a crucial role in establishing Fox as a major network, directly competing with established players like ABC, CBS, and NBC.

• IAC/InterActiveCorp (IAC): Moving away from traditional media, Diller's involvement with IAC/InterActiveCorp marked his entry into the digital and internet arena. His leadership and vision transformed IAC into a powerful conglomerate, owning various internet companies including Match.com, Vimeo, and more. This venture diversified his influence beyond television and movies, showcasing his adaptability and foresight in the rapidly evolving digital world.

The trajectory of Diller's career highlights his ability to identify and capitalize on emerging trends in the entertainment and digital industries. His success is not just a testament to his business acumen but also his willingness to innovate and take risks.

From transforming television programming at ABC to establishing a major new network with Fox and venturing into the digital world with IAC, Diller's career is marked by a series of strategic, impactful decisions that cumulatively propelled him to the status of a mainstream success.

Career Timeline

• 1961: At the age of 19, Barry Diller started his career in the William Morris Agency's mailroom, a common starting point for many who later became influential in Hollywood.

• 1964: Diller made his first significant career leap, becoming the Assistant to Elton Rule, then the President of ABC. This role marked his entry into the television industry.

• 1974: Diller became Chairman and CEO of Paramount Pictures. During his tenure, he was responsible for green-lighting several hit films and television series, significantly impacting the studio's success.

• 1984: He took on the role of Chairman and CEO at Fox, where he was pivotal in launching the Fox Broadcasting Company. Under his leadership, Fox introduced revolutionary shows like "The Simpsons."

• 1992: Diller moved to the home shopping network, QVC, assuming the role of CEO. This marked a shift from traditional media to a focus on retail and commerce.

• 1995: Diller founded IAC/InterActiveCorp, a media and internet company, and served as its CEO. Under his leadership, IAC acquired and developed various online businesses, expanding Diller's influence into the digital realm.

• 2005: After the spin-off of Expedia from IAC, Diller took on the roles of Chairman and Senior Executive at Expedia Group, steering the company's growth in the online travel industry.

• 2010: Diller stepped down as CEO of IAC but continued as Chairman and Senior Executive, focusing on strategic oversight and business development.

• 2011-2012: Diller's involvement with the media and technology sectors continued to evolve, as he oversaw IAC's growing portfolio of online businesses.

• 2013-2015: During this period, Diller further expanded his influence in the tech and media industries, particularly through IAC's acquisitions and investments.

• 2016-2018: Diller continued to shape the digital landscape, guiding IAC's strategy in an increasingly interconnected and online-focused world.

• 2019-2021: These years saw Diller's continued leadership in IAC, focusing on innovation and adapting to changing market trends.

• 2022-2023: In the most recent years, Diller has remained a key figure in the business world, leveraging his extensive experience to navigate the complexities of modern digital and media landscapes.

CONTENTIOUS ISSUES

• Paramount Pictures lawsuit: Diller was embroiled in a legal dispute with Paramount Pictures in 1993 over an unsuccessful attempt to acquire the company. Although the lawsuit was eventually settled, the incident attracted considerable media attention and controversy.

• IAC stock options scandal: In 2007, Diller came under scrutiny for allegedly backdating stock options at IAC. While no formal charges were brought against him, the controversy led to questions about the company's corporate governance practices.

• Floating island park project: Diller and von Fürstenberg's ambitious plan to construct a floating island park on the Hudson River in New York City met with controversy due to environmental concerns and legal disputes with other stakeholders. The project, initially named "Pier 55," was canceled in 2017 but was later revived as "Little Island."

• Little Island Controversy: Diller's involvement in the creation of the Little Island in Manhattan's West Side sparked debate. The $260 million man-made island, a public park and live performance venue, faced public pushback and legal challenges over its development. Despite the controversies, Diller described the completion of the project as bringing him "pure, actual joy" and a significant contribution to the spirit of life in New York City.

• Defending Scott Rudin: Diller faced criticism for his defense of embattled producer Scott Rudin. Despite allegations of abusive behavior against Rudin, Diller maintained him as an advisor at Little Island. Diller praised Rudin's "outstanding creative life" and dismissed the allegations, stating he had never witnessed any anti-social behavior from Rudin.

Positive Things That Have Been Said About Him

• "Barry Diller is the most creative person I've ever met in the entertainment business." - Michael Eisner, former CEO of The Walt Disney Company (Vanity Fair, 2009)

• "Barry has an incredible ability to see the future of media and entertainment." - Ted Sarandos, Co-CEO of Netflix (Variety, 2018)

• "He's a visionary leader who doesn't shy away from taking risks." - Sheryl Sandberg, COO of Facebook (The Hollywood Reporter, 2014)

• "Barry Diller is a pioneer in the truest sense of the word." - Jeffrey Katzenberg, Co-founder of DreamWorks Animation (The New York Times, 2010)

• "Diller's impact on the entertainment industry is immeasurable." - Oprah Winfrey, Media Executive and Philanthropist (Forbes, 2012)

Negative Things That Have Been Said About Him

• "Barry Diller is a man of many contradictions, and his leadership style can be mercurial." - Sumner Redstone, Former Executive Chairman of Viacom and CBS Corporation (The Wall Street Journal, 2006)

• "Diller's reputation as an innovator is marred by his constant need for control." - Rupert Murdoch, Executive Chairman of News Corp (Los Angeles Times, 1995)

• "Barry is a brilliant businessman, but he can be ruthless in his pursuit of success." - Peter Chernin, Former President and COO of News Corporation (Business Insider, 2011)

• "Diller's relentless ambition can sometimes overshadow his genuine talent." - David Geffen, Co-founder of DreamWorks SKG (New York Magazine, 2007)

• "Barry Diller's management style is aggressive, and that has led to tension and conflict with some of his peers." - Ari Emanuel, Co-CEO of Endeavor (The Hollywood Reporter, 2016)

LITTLE KNOWN FACTS

• Architectural Interest: Barry Diller is known for his interest in architecture. The IAC Building in Chelsea, Manhattan, which serves as the headquarters for IAC/InterActiveCorp, is a notable example of his architectural enthusiasm. Designed by the renowned architect Frank Gehry, the building is a testament to Diller's appreciation for innovative design.

• Philanthropy: Diller, along with his wife, fashion designer Diane von Fürstenberg, is involved in philanthropic activities. They have made significant contributions to various causes, including the creation of the Diller-von Fürstenberg Family Foundation, which supports community building, education, human rights, arts, health, and the environment.

• Passion for the Arts: Apart from his business ventures, Diller has a deep interest in the arts. He has been involved in Broadway productions and film projects, showcasing his inclination towards creative and artistic pursuits beyond his corporate endeavors.