David Geffen is a business magnate, producer, and film studio executive with a net worth of $10 Billion. He co-founded Asylum Record with Elliot Roberts in 1971, Geffen Records in 1980, and DGC Records in 1990.
He later created the film studio DreamWorks SKG in 1994. Geffen is the owner of the yacht RISING SUN.
|Net Worth:||$10 Billion|
|Source of Wealth:||Music/Film industry|
David Geffen Net Worth
David Geffen has a net worth of $10 billion, according to Forbes. In June 2020, Geffen purchased a new home, Casey Wasserman’s Beverly Hills estate, for $68 million.
He sold his Beverly Hills estate in 2020 to Jeff Bezos for $165 million, one of the highest ever real estate transactions in California. He also owns expensive apartments in NYC and a house in the Hamptons.
He is the owner of a superyacht, a 138m vessel, RISING SUN, where he self-isolated during the COVID-19 pandemic. He bought the yacht in full in 2010.
He bought PELORUS in 2009 for $300 million from Roman Abramovich’s ex-wife Irina. He then sold her to Sheikh Abdullah bin Zayed bin Sultan Al Nahyan.
He has a renowned art collection focusing on American artists’ work. The collection includes Jackson Pollock, Mark Rothko, and Willem de Kooning. His art collection is worth millions of dollars and is one of the better representations of post-war American art.
He is an active philanthropist, donating funds to multiple organizations. He has given funds to Columbia Business School and Yale School of Drama and financed 20% of the Avery Fisher Hall at the Lincoln Center for the Performing Arts in New York.
David Geffen was born in Borough Park in Brooklyn, New York, in 1943. Geffen began his career in entertainment in the mailroom of a talent agency. He went on to create several record companies.
Geffen is a cofounder of DreamWorks SKG, along with Steven Spielberg and Jeffrey Katzenberg. The founders created the animation company in 1994, which has produced major animated films like How to Train Your Dragon, Trolls, and Kung Fu Panda.
David Geffen announced that he was gay in a statement in 1992 and was ranked in Out magazine in the list of the top 50 “Most Powerful Gay Men and Women in America.”
Geffen has been the subject of several books, including The Operator: David Geffen Builds, Buys, and Sells the New Hollywood (2001). He is also a featured character in several books by Michael Ovitz and Hotel California by Barney Hoskins.
In 2011, Geffen was awarded the President’s Merit Award from the National Academy of Recording Arts and Sciences for “indelible contributions to the music industry.”
Geffen was an early financier of President Bill Clinton and raised $1.3 million in funds for President Barak Obama in a Beverly Hills fundraiser.
He donated money to oppose Proposition 8 with other celebrities like Brad Pitt and Steven Spielberg. Proposition 8 aimed to amend California’s Constitution to ban same-sex marriage.