Spidey's Billionaire

James Fisher / Twentieth Century Fox Who's the eccentric mogul behind the $4 billion Disney-Marvel deal? Kim Masters on the CEO more mysterious and secretive than a comic book superhero.

Disney’s acquisition of Marvel Entertainment is of course a big deal for the Magic Kingdom and CEO Bob Iger. And it stands out as the first big mid- or post-recession deal for the entertainment industry generally. But so far, there’s only one clear winner and it isn’t Iger or those who want to believe that the big studios still have some fight left in them. The victor is the little known Ike Perlmutter, who was running a company called Toy Biz before wresting control of Marvel from Ron Perelman and Carl Icahn in 1998.

Twelve years ago, on the eve of the Jewish New Year, Perlmutter and his then-partner convinced a group of bankers that Marvel was worth saving from the scrap heap. Thanks to this deal, he’s pocketed about $1.5 billion.

Perlmutter is a man of mystery in Hollywood and beyond—go ahead, try to find a picture of him. He’s so committed to keeping things secretive that a studio source says Perlmutter attended the premiere of Iron Man disguised in glasses and a moustache—though it’s unclear how anyone would have recognized him if he’d just come as himself. In Monday’s conference call with investors about the deal, Perlmutter’s voice was never heard.

   Perlmutter attended the premiere of Iron Man disguised in glasses and a moustache—though it’s unclear how anyone would have recognized him if he’d just come as himself.     

By all accounts, Perlmutter—who will remain at the helm of Marvel—was not into comics when running Toy Biz, which manufactured memorabilia based on Marvel characters. And he wasn’t into movies when he took over Marvel Entertainment. According to those few who know him, he’s a tough boss who would work a 27-hour day if that were possible. “He’s like a garment-cutter guy.... like a little old Jewish guy,” says one. (Perlmutter is 66.) “He’s been with his wife forever. They have places in New York and Palm Beach. He has a thick Israeli accent and he’s behind the scenes. He could care less about the movies.”

Perlmutter may not have great love for comic-book characters, but many fans do. After three movies, a Spider-Man musical is heading to Broadway next year. The X-Men franchise has been passed on to Hugh Jackman’s Wolverine and next Ryan Reynolds as Deadpool. And Robert Downey Jr.’s Iron Man turned out to be box-office platinum. So it would appear to make sense for Disney to buy Marvel. The deal provides movie fodder for a studio that could use a boost in live-action. And it serves Disney’s purpose of extending its franchises into testosterone territory, notably for its new XD cable channel. (The company’s got the girls pretty well sewn up; even as Hannah Montana slips into something a little more uncomfortable, an appealing successor—Wizards of Waverly Place star Selena Gomez—is already well established.)

But there is room for debate about the price tag—$4 billion worth of cash and stock. As industry analyst Harold Vogel put it, “I’m not doing cartwheels in the office over this.”