David Lawrence Geffen Net WorthReal Name: David Lawrence Geffen
Date of Birth: 02/21/1943
Place of Birth: Brooklyn, New York
2017 Net Worth: $6.9 Billion
Profession: Co-founder DreamWorks Animation, Geffen Records, Asylum Records, DGC Records
David Geffen Biography
David Geffen was born in Brooklyn, New York, in 1943. His mother owned a women’s clothing store. Geffen attended high school and graduated in 1960 but just barely. He attended one semester at the University of Texas at Austin, and then tried Brooklyn College, before he dropped out again. He wanted to pursue a career in entertainment, so he moved to Los Angeles. Once again, Geffen attended college for a short time at Santa Monica City College, but dropped out. Geffen has stated he has dyslexia.
Geffen took a job the William Morris Talent Agency using a fake degree from UCLA, and very quickly became a music agent. He co-founded Asylum Records in 1970 and his knack for spotting new talent soon made him a name. Asylum became one of the most sensational success stories in the music industry and made Geffen a millionaire by the time he was 25. Geffen signed acts such as Joni Mitchell, Carly Simon, Linda Ronstadt, even Bob Dylan for a short time. Geffen sold Asylum Records to Warner Brothers in 1975 for $7 million. At the time, one of the largest music deals ever.
Geffen returned to the music industry after spending 4 years with a misdiagnosis of cancer, and founded Geffen Records in 1980. He then sold this recording label to MCA for $6.13 million and another $50 million in stock options. Geffen took another 4 year break, then, along with Jeffrey Katzenberg and Steven Spielberg, he raised $2 billion in one weeks’ time to start the movie studio DreamWorks.
Geffen is single and openly gay. He has one of the finest collections of postwar American art in the world including extremely valuable pieces by Willem de Kooning and Jackson Pollock. Geffen’s life has been the subject of several books.
Geffen has a current net worth of $6.9 billion, $1 billion of which is invested in Apple stock. Geffen attempted to purchase the Los Angeles Clippers basketball team but lost out to former Microsoft CEO Steve Ballmer.