He still owns a substantial Carbon Beach home that he bought in 2008 for $9.8 million. The label did well throughout the 80's thanks to releases from artists like Berlin, Kylie Minogue, Enya, Asia, Wang Chung, Sammy Hagar, Elton John, Irene Cara, Cher, Debbie Harry, Don Henley, Joni Mitchell and many more. Submit a correction suggestion and help us fix it!

Both were bought by hedge fund billionaire Ken Griffin. Throughout the years he has amassed an impressive contemporary art collection, including works by Jasper Johns, De Kooning and Jackson Pollock. four estates and two yachts. They would go on to have enormous success thanks to movies like Shrek, Shrek 2, Kung Fu Panda, Antz, Shark Tale and many many more. The richest man in the world has reportedly paid $165 million for media magnate David Geffen’s Beverly Hills estate, setting a new record for a Los Angeles-area home. Philanthropy: David Geffen is an extremely generous philanthropist. Billionaire media mogul David Geffen tells Forbes that he's interested in buying the troubled NBA franchise. They also had a down period, coming frighteningly close to bankruptcy after the failure of 2003's Sinbad: Legend of the Seven Seas which lost the studio more than $125 million. The label went on to sign artists like the Eagles, Joni Mitchell, Bob Dylan, Tom Waits, Linda Ronstadt, Warren Zevon, Judee Sill, and JD Souther. David Geffen is the founder of record labels Asylum Records, Geffen Records and DGC Records, as well as film studio DreamWorks. Born to Jewish immigrants in Brooklyn, Geffen started his career in the mailroom of talent agency William Morris, where he rose to become an agent. To keep his job in the William Morris mailroom Geffen lied about having graduated from college and created a fake UCLA degree. In 2011 he sold his yacht Pelorus to a UAE Sheikh for $240 million. As of October 2020, David Geffen has an estimated net worth of $8.5 billion. as of 10/11/20. How Much Has David Geffen's Net Worth Grown From 1990 To Now? Dreamworks has generated more than $15 billion at the global box office and billions more in home movie and merchandise sales. Film Production: Though he may be best-known as a co-founder of Dreamworks, David has been producing movies since the early 1980s through The Geffen Film Company. In 1961, he appeared as an extra in the film, The Explosive Generation, but he truly started his career in the mail room at the William Morris Agency (WMA). David Geffen net worth: David Geffen is a Brooklyn-born record executive, film and theater producer, and philanthropist who has a net worth of $8 billion dollars. He makes his fortune from his career as a record executive, theatre and film producer, and as a business tycoon. His tapped a friend from the WMA mail room named Elliot Roberts to be his co-founder. In 2005, Viacom acquired Dreamworks' live action studio for $1.6 billion (including the assumption of $400 million in debt). Early Life: David Geffen was born on February 21, 1943 in Brooklyn, New York. Dreamworks has generated more than $16 billion at the global box office alone, to date. His art collection is worth $2-3 billion, accounting for a solid portion of his net worth. Exclusive Forbes Survey Of U.S. Billionaires On How They Will Vote For President, At Least 15 Billionaires Have Now Donated To The Anti-Trump Lincoln Project, Juilliard School To Hold Free Virtual Gala Featuring Alumni Renee Fleming, Philip Glass, Nadia Sirota And More, Drop Out, The University of Texas at Austin. That purchase ultimately did not go through. The South Bend mayor’s megarich donors include producer David Geffen, Netflix chief executive Reed Hastings and major Levi’s shareholder Mimi Haas.

When he sold the company to MCA, he gave his longtime secretary 1% of the sale. When MCA was acquired in 1991 by Japanese conglomerate Matsushita Electric for $6 billion, Geffen's stake was worth $700 million. In 1994 he co-founded Dreamworks SKG with Steven Spielberg and Jeffrey Katzenberg. In his career, he is highly famous for being the founder of Geffen Records, wherein he contracted Nirvana, Donna Summer, Blink-182, and released Double Fantasy album. A storied bon vivant, Geffen owns one of the world's largest yachts, Rising Sun, whose guests often include Leonardo DiCaprio, Disney's Bob Iger and Oprah Winfrey.

The results are fact checked and confirmed by a team of editors and industry insiders. A look at the DreamWorks cofounder's A house quietly traded hands in an off-market deal between Jeffrey Katzenberg and Jan Koum, cofounder of the messaging platform WhatsApp. It is the 12th-largest yacht in the world. In April of 2014, on the heels of a scandal involving Donald Sterling who is the owner of the Los Angeles Clippers, David Geffen (along with Oprah Winfrey and Larry Ellison) said he would be interested in buying the team from the scorned owner. Real Estate: David Geffen owns $300 million worth of real estate around the world. Longtime music and movie executive David Geffen just spent quite a bit of money to leave an even greater legacy than he already is. In 1990 he spent $47.5 million on a 10-acre Beverly Hills estate that today is likely worth $100-150 million on its own. © 2020 Celebrity Net Worth / All Rights Reserved, © 2015 Celebrity Net Worth / All Rights Reserved. David Geffen net worth: David Geffen is a Brooklyn-born record executive, film and theater producer, and philanthropist who has a net worth of $8 billion dollars. Asylum had nearly instantaneous success thanks to signings that included Laura Nyro, Crosby Stills and Nash, and, of course, Jackson Browne. $9B. The "SKG" stands for "Spielberg, Katzenberg and Geffen". As a result, three floors of the museum's new galleries will be named The David Geffen Wing and this spring the current building's fourth floor gallery space will be renamed The David Geffen Galleries.
One is 12,000 square-feet overlooking Central Park and the other is 5,000 square-feet. David Geffen's pictures from his yacht in the Caribbean didn't sit well with the millions of people enjoying cramped, lonely coronavirus isolation.

In 2016 he sold a 1955 de Kooning oil painting for $300 million and a 1948 Jackson Pollack for $200 million.

In total, Geffen has spent $590 million on his share of the yacht. All Rights Reserved, Cofounder, DreamWorks Animation SKG Inc. (Cl A), Reflects change since 5 PM ET of prior trading day. In 2017 he sold the property for a mind-numbing $87 million. After struggling to land Browne a record deal, Geffen did the next best thing. Jeff Bezos' latest house purchase was this off-market buy of a house adjoining the estate he bought from David Geffen. Geffen is openly gay, and in May 2007, Out Magazine ranked Geffen first in it's list of the fifty "most powerful gay men and women in America." Art Collection: A keen art collector since he first started to achieve success, today David owns what is considered one of the most-valuable private collections in the world.

After the sale, Geffen Records would continue to have enormous success with artists like Mary J. Blige, The Roots, Blink-182, The Game and Common. Geffen Records/Becoming A Billionaire: In 1980, after being given a clean bill of health, he founded Geffen Records. In 1990 he sold Geffen Records to MCA Music Entertainment for 10 million shares of MCA stock. David Geffen's Journey from College Dropout to $5.5 Billion Hollywood Mogul, Billionaire David Geffen Sells Malibu Home For $85 Million. Geffen’s latest contribution, targeted at providing scholarships for medical school students, will bring his total giving to UCLA to more than $450 million.
All net worths are calculated through the combination of a robust methodology and a proprietary algorithm. All Rights Reserved. In 2007 he became the co-owner, with Oracle CEO Larry Ellison, of a $200 million custom-built yacht called Rising Sun.

He is also vocal and quite involved with politics and has supported candidates like Bill Clinton and Barack Obama. Success: In 1970 He left WMA with the intention of becoming a music manager for artists he had previously scouted such as Jackson Browne. © 2020 Forbes Media LLC. EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, For $125 Million, Jeffrey Katzenberg Sells To What’sApp Cofounder Jan Koum, Starbucks Billionaire Howard Schultz Backs Joe Biden, Plans To Donate As Well, Bezos Buys Property Adjacent To His Record-Breaking $165 Million Los Angeles Home, Billionaire David Geffen Behind Purchase Of $68 Million Los Angeles Home—Second Highest Of The Year For Southern California, Long Live David Geffen, Yachtmaster And New King Of Tone-Deaf Instagram Posts, Billionaire Jeff Bezos Buys Historic Beverly Hills Estate For Record $165 Million, Here Are The Billionaires Backing Pete Buttigieg’s Presidential Campaign, Billionaire DreamWorks Cofounder David Geffen Donates $46 Million To UCLA Medical School, David Geffen Makes $100 Million Gift To MoMA, Thanks To A $100 Million Donation, David Geffen Is Getting A Hall At Lincoln Center, David Geffen's $1.1 Billion Home Portfolio, A Look At Billionaire David Geffen's $1.1 Billion Stash Of Dream Palaces, David Geffen: I Would Very Much Like To Buy The Clippers. He was also vocal about his support and donated money to try to prevent Prop 8 from becoming law in California. In 2006 he sold two pieces – a Jackson Pollack and a de Kooning – for a combined $277 million. It's about whether you can create a relationship. Geffen Records, perhaps most famously, released John Lennon's 1980 album Double Fantasy. He left Warner Brothers shortly after starting with the company due to being misdiagnosed with cancer and entering early retirement. We work diligently to ensure that our numbers are the most accurate celebrity net worth data you will find anywhere on the internet. In 2013 he bought a home in Malibu on the highly sought-after Carbon Beach.

That does not include home movie sales and merchandise. A luxury property aficionado, he owns one of NYC's most expensive apartments, a house in the Hamptons and the Jack L. Warner estate in Beverly Hills. In 1972 Asylum was acquired by Atlantic Records' parent company, Warner Communications which merged it with Elektra Records to form Elektra/Asylum Records.