Teen actress Mary-Kate Olsen has taken a leave of absence from New York University to focus on the entertainment company she runs with her twin sister, Ashley, her spokesman said Friday.
"She's not dropping out. She's taking an approved leave of absence to focus on her increasing responsibilities and live her life," spokesman Michael Pagnotta said, adding that Olsen had returned to Los Angeles.
Ashley Olsen will remain at New York University's Gallatin School, where the 19-year-old film and TV stars are sophomores studying a liberal arts curriculum, Pagnotta said.
Mary-Kate and Ashley Olsen are co-presidents of Dualstar Entertainment Group, a multimillion-dollar brand catering to young girls with home videos, CDs, books, apparel, fragrances and dolls. Fortune magazine last year estimated they were worth $137 million each.