Media Veteran Lee Masters Has "Billionaire Party"

asshole, in sweet repose

Quite frankly, this is seriously a dick move. When so many people are suffering because of the prolonged effects of this Great Recession (as well as two foreign wars), one would think that the attainment of a billion dollars would be a quiet -- but, obviously, happy -- affair. So much the better for him and his family.

Of course, there is nothing quiet or elegant about the stupid, light-gossipy, Hollywood fawning E! Entertainment television which "Lee Masters" helped create. Former E! executive -- who spent nine years building the channel to over $800 million in worth, among other things -- held a party recently to celebrate becoming a billionaire. It was, apparently, quite the rager (averted gaze).

How incredibly louche; how spectacularly douche. Did he, one wonders, have fucking awful Leroy Neiman portraits to commemorate the occasion of his riches? Worse: he told Howard Stern -- perpetually jealous, he, despite earning $80 million in cash for, under his most recently renegotiated contract, about three days a week of work. Stern, perpetually aggrieved on the subject of his compensation, soon told his audience. From Marksfriggin:

"Howard said he and Robin (Quivers) haven't gotten there with the Sirius stock. Howard said they never got any decent stock. He said that's how these people get rich. It's the stock. He said he gets to that clip and his head explodes. Howard said if you have 20 million subscribers at $12 a month they've got to be making a lot of money. He said he's not even sure what the amount is. He said it must be in the billions.


"Howard tried doing the math with the help of Robin and Gary. Howard said Robin isn't helping. She threw out some numbers that weren't helping him out. Gary told Howard it should be over $210 million a month. Everyone was getting confused. Fred said it's about $299 million. Howard rounded it out to $300 million. Howard then had to multiply that times 12. Robin rounded that off to 10 to make it easy. Robin came up with $3 billion. Howard said he wants to thank every math teacher he ever had. He said he was never taught how to get there.

"Howard said he can't believe the stock isn't worth more than it is if that's the kind of money they're making. Howard said he obviously threw in with the right guys. Howard said he threw in with people who hate when he makes money. He said they get angry.

"Howard said he never gets the right situation. He said he never gets it right. Robin said they're allergic to stock. Howard said they don't go to sleep and wake up rich. He said he went to a party for this guy at E! who had a billion party. Howard said he was worth a billion in a year after getting in on some deal. Howard said his name was Lee Masters but his real name was Jarl Mohn. He said he had a whole story about that. Howard said Jarl told him he wanted him to come and celebrate that he was wroth a billion dollars. "

Leave it to Howard, in a fit of jealousy, to bring out the man's real name. This blogger doesn't doubt that the man earned his money -- through investments, through the dubious E! Channel, through Liberty media, through multiple new media paradigms -- legally. He's done his time and has been rewarded handsomely by a democratic capitalistic system. It is just that throwing a lavish billionaire's party at this moment is like throwing Trimalchio's Banquet during the Great Depression (Or, for that matter, Truman Capote's Black and White Ball at the height of the Vietnam War)!

Is Lee Master's the new Steven Scwartzman? And even Steven, who became as a result of this extravagance one of private equity's villains, showed remorse for the excess afterwards.