let us know how marvel went from bankruptcy to billions. It was founded in 1939 as Timely Publications and has undergone several ownership and name changes.
In 1993, Neil Gaiman, a writer for Sandman, gave a speech in front of approximately 3,000 retailers warning them that the success of the comic book market was a bubble.
Gaiman likened the situation to tulip mania, a period in the 17th century when the value of tulip bulbs suddenly skyrocketed before collapsing again.
It’s important to note that Ron Perelman did not single-handedly destroy Marvel Entertainment. The company faced a variety of challenges in the 1990s.
However, Perelman’s ownership of Marvel has been a subject of controversy. Perelman acquired Marvel in 1989 through his holding company, MacAndrews & Forbes, and took the company public soon after.
📷He then made a series of acquisitions, including ToyBiz and trading card companies, at a cost of around $700 million. These acquisitions were funded through a combination of cash, debt, and stock offerings.
As Neil Gaiman had warned, the comic book market experienced a downturn in the 1990s, with revenues from comics and trading cards declining significantly between 1993 and 1996.
This downturn affected Marvel, which had previously seemed invulnerable as it grew in size, and the company faced financial difficulties.