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Friday, Jun 2, 2023

The 50 Wealthiest Angelenos: Jeffrey Katzenberg #32

#32 – Jeffrey Katzenberg

Net Worth: $790 million -25%

Last Year: $1.05 billion

Age: 58

Residence: Beverly Hills

Source of Wealth: Entertainment

The Money:

Entertainment executive delivered DreamWorks Animation? best-ever first quarter; success due to?adagascar: Escape 2 Africa.?However, stock price still down 22 percent from last year, cutting value of his 12.5 million shares. Majority of other holdings private; reportedly lost millions investing with alleged Ponzi scheme artist Bernie Madoff.


Extended employment contract that pays $1 per year through April 2014. Don? cry for Katzenberg. Can earn big incentive pay based on stock price. Had big hit with ?onsters vs. Aliens.?Made decision to go 3-D with film, shocking director but pleasing audiences. Experienced some unpleasantness, too. Took heat as chairman of Motion Picture & Television Fund, which decided to close money-losing Woodland Hills long-term care facility for retired actors and production workers. His longtime financial adviser funneled some investments to Madoff. Lashed out at notorious New York money manager on CNBC, saying Madoff humiliated him and damaged his philanthropy. Co-hosted first Hollywood fundraiser for Obama and donated thousands to campaign. Former prot??of Michael Eisner but had falling out and forced to resign from Disney. Sued and received settlement reportedly topping $250 million. Began career as talent agent before becoming assistant to then-Paramount Pictures Chairman Barry Diller.

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