Net Worth: $6.9 billion, down 1 percent
LAST YEAR: $6.95 billion
RESIDENCE: Beverly Hills
SOURCE OF WEALTH: Entertainment
THE MONEY: Public investment portfolio includes stakes in Bank of America and Apple Inc., which sunk in April as tech giant reported disappointing earnings. Well-known art collector with collection worth about $2.3 billion. Made large philanthropic gifts over last 12 months.
THE BUZZ: DreamWorks SKG co-founder now devotes time to philanthropy. Donated $100 million to Museum of Modern Art in April; $100 million to UCLA for creation of secondary school called Geffen Academy; $100 million to Lincoln Center for the Performing Arts in September to renovate main hall that bears his name. Longtime UCLA donor – medical school named after him after $200 million gift in 2002. Also gives to Democratic Party candidates and causes. Former music mogul founded Asylum Records and Geffen Records before selling companies to Warner Bros. New York Times reported in February that Geffen spending more time in Big Apple. Art collection includes large amount of postwar American pieces. Beverly Hills estate shamed by city for wasting water during drought; charged more than $30,000 by Beverly Hills for using 1.6 million gallons of water between June and August.
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