David Lawrence Geffen (born February 21, 1943) is an American film producer, record executive, and media proprietor. In music, he co-founded Asylum Records in 1971 with Elliot Roberts and later founded Geffen Records in 1980, DGC Records in 1990, and co-founded DreamWorks Records in 1996 with Mo Ostin, Michael Ostin, and Lenny Waronker.
In film, he founded the Geffen Film Company in 1986 and co-founded DreamWorks SKG in 1994 alongside Steven Spielberg and Jeffrey Katzenberg.
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David Geffen Net Worth
David Geffen has a net worth of $14 billion and owns $300 million in real estate worldwide. In 1990, he purchased a 10-acre Beverly Hills estate for $47.5 million, now valued at $100-150 million. In New York City, he owns two apartments overlooking Central Park, totaling 17,000 square feet.
He also bought a Malibu home in 2013, selling it for $87 million in 2017. In 2014, he acquired a $70 million home in East Hampton, New York, and in 2019, purchased a vacant lot in Beverly Hills for $30 million, later selling it for $34 million.
Early life
David Geffen was born in Borough Park, Brooklyn, New York, to Abraham Geffen and Batya Volovskaya. His mother owned a clothing store, Chic Corsets by Geffen. Both parents were Jewish immigrants from Mandatory Palestine. Geffen’s older brother, Mitchell, was an attorney.
Geffen graduated from New Utrecht High School in 1960 with a low academic average and briefly attended the University of Texas at Austin and Brooklyn College before dropping out. He later moved to Los Angeles to pursue a career in entertainment, attributing his academic struggles to dyslexia.
Career
After a brief appearance in The Explosive Generation (1961), David Geffen began his entertainment career in 1964 as a mailroom clerk at the William Morris Agency (WMA), quickly becoming a talent agent. He falsely claimed to have graduated from UCLA to secure the position.
In 1968, he left WMA to work at Ashley-Famous Agency, then became executive vice president at Creative Management Associates in 1969. He found success as a personal manager with Laura Nyro and Crosby, Stills, and Nash. Ahmet Ertegun encouraged him to start his own record label, leading to the creation of Asylum Records.
Personal life
In the 1970s, David Geffen dated Cher for 18 months, beginning in 1973 while she was still married to Sonny Bono. Geffen helped Cher gain career independence, freeing her from contracts he later described as “slave labor.” Their public appearance together at the 1974 Grammy Awards marked Geffen’s rise to media fame.
Cher later left him for Gregg Allman. Geffen came out as gay in 1992 and was ranked first on Out magazine’s 2007 list of the 50 Most Powerful Gay Men and Women in America. He reportedly married Donovan Michaels in 2023.
What happened to David Geffen?
David Geffen was misdiagnosed with bladder cancer in 1976, but it wasn’t until 1980 that he discovered he was not afflicted. Since then, he has become a significant contributor to medical charities and foundations. As a result of his generosity, several buildings have been named in his honor, including The Geffen Playhouse and The David Geffen School of Medicine, both at UCLA.
Conclusion
David Geffen’s journey from a mailroom employee to a billionaire media mogul encapsulates the essence of the American dream. His significant contributions to music and film, combined with his savvy investments, have cemented his status as a legend in the entertainment industry.
FAQs about David Geffen Net Worth
- How much is David Geffen’s net worth?
- $14 billion.
- What companies did David Geffen found?
- Geffen Records and Asylum Records; co-founded Dreamworks SKG.
- What is David Geffen known for in the entertainment industry?
- Founding successful record labels and a movie production studio.
- How did David Geffen start his career?
- In the mail room at William Morris Agency.
- What kind of investments does David Geffen make?
- In real estate, art, and various business ventures.
