The 50 Wealthiest Angelenos: David Geffen – #4

0
The 50 Wealthiest Angelenos: David Geffen – #4
David Geffen

The money and the buzz on each of L.A.’s wealthiest.

THE MONEY: Media mogul owns more than 3.5 million DreamWorks Animation shares, worth $140 million due to market run-up. Said to have sold other equity holdings in 2007 before crash. Most of estate tied up in bonds, extensive art collection and property; value up thanks to recovery.

BUZZ: Donated more than 500,000 shares of DreamWorks Animation in March to his charitable foundation. DreamWorks co-founder watched company find new legs, finalizing $825 million financing deal in August after divorcing Viacom parent. Role at DreamWorks analyzed in new book that claims Geffen played “kind of the heavy” in trio with Jeffrey Katzenberg and Steven Spielberg. Early Obama supporter snagged seat next to first lady Michelle Obama at president’s first state dinner in November. Democratic Party heavyweight donated $47,700 in 2009. University of Texas dropout sorted mail at Williams Morris Agency. Amassed fortune in music industry. Founded Geffen Records in 1980 and sold to MCA for estimated $750 million.

• NET WORTH: $4.3 billion +20%

• LAST YEAR: $3.6 billion

• AGE: 67

• RESIDENCE: Malibu

• SOURCE OF WEALTH: Entertainment

No posts to display