David Lawrence Geffen
February 21, 1943
New York City, U.S.
|Occupation||Founder of DreamWorks SKG/Dreamworks Records, Asylum Records, Geffen Records/Geffen Pictures, and DGC Records|
|Net worth||US$8 billion (September 2019)|
David Lawrence Geffen (born February 21, 1943) is an American business magnate, producer, film studio executive, and philanthropist. Geffen co-created Asylum Records in 1971 with Elliot Roberts, Geffen Records in 1980, DGC Records in 1990, and DreamWorks SKG in 1994. As a philanthropist he has donated to the David Geffen School of Medicine at UCLA and other educational and research institutes.
David Geffen was born in Borough Park, Brooklyn, New York, to Abraham Geffen and Batya Volovskaya (1909–1988). Geffen's mother owned a clothing store in Borough Park called Chic Corsets by Geffen. Both of his parents were Jewish immigrants who met in Mandatory Palestine and then moved to the United States. Geffen graduated from Brooklyn's New Utrecht High School in 1960 with a "barely passing 66 average". He attended the University of Texas at Austin for a semester, and then Brooklyn College, before again dropping out. He then moved to Los Angeles, California to find his way in the entertainment business. He attended Santa Monica College (then known as Santa Monica City College) in Santa Monica, California, but soon left. Geffen attributed his challenges in school to dyslexia.
After a brief appearance as an extra in the 1961 film The Explosive Generation, Geffen began his entertainment career in the mailroom at the William Morris Agency (WMA), where he quickly became a talent agent. In order to obtain the WMA job, he had to prove he was a college graduate. As he later reported in an interview, he claimed in his job application at WMA that he had graduated from the University of California at Los Angeles (UCLA). Because he worked in the mailroom, Geffen was able to intercept a letter from UCLA to WMA which stated that he had not graduated from UCLA. He modified the letter to show that he had attended and graduated, then submitted it to WMA.
His colleagues in the mailroom included Elliot Roberts, who later became Geffen's partner in a management company. Geffen left William Morris to become a personnel manager and was immediately successful with Laura Nyro and Crosby, Stills and Nash. When Geffen was engaged in the process of looking for a record deal for young Jackson Browne, Atlantic Records founder Ahmet Ertegun suggested that Geffen start his own record label.
Geffen co-founded Asylum Records in 1971 with Elliot Roberts after Geffen was unable to get Jackson Browne a record deal anywhere else. The name Asylum was chosen because of the owners' reputations for signing artists who would struggle to find a record company that would contract with them. The label was distributed by Atlantic Records at this time. Asylum became a generator of the Southern California folk-rock sound and signed artists such as the Eagles, Joni Mitchell, Bob Dylan, Tom Waits, Linda Ronstadt, Warren Zevon, Judee Sill, and J.D. Souther. Later in the 1970s Geffen left Asylum which was later acquired by Atlantic's parent company, Warner Communications, and merged with Elektra Records in 1972 to become Elektra/Asylum Records. The label was revived in 2004 as an urban music operation, signing hip-hop artists such as Waka Flocka Flame, Cam’ron, Gucci Mane, Paul Wall, Mike Jones and Bun B.
Geffen remained in charge until December 1975, when he went to work as vice chairman of Warner Bros. film studios. He then retired and in 1977 was informed (erroneously) that he had cancer. During his retirement period he spent a short time (the fall of 1978 and spring of 1979) teaching a noncredit seminar on the music industry and arts management at Yale University, where he featured classroom guests Jackson Browne and Paul Simon. In 1980 a new medical diagnosis revealed the error in the original diagnosis and Geffen was given a clean bill of health, whereupon he decided to return to working in the entertainment industry.
In 1980, he founded Geffen Records and recruited Warner Bros. Records exec Ed Rosenblatt as president. The Geffen label's meteoric rise to prominence within the year proved a bittersweet success. Geffen's first artist to sign on was Donna Summer, who was anxious to leave Casablanca/PolyGram Records. Geffen shortly after released her The Wanderer album, the lead single of which reached #3 on the Billboard Hot 100, and the album certified gold. Casablanca countered by releasing more singles off her 1979 Bad Girls album such as the song Walk Away and a similarly named hits compilation to compete, but by then New Wave sound was dominating the airwaves.
The November 1980 release of John Lennon's album Double Fantasy seems an impressive feat for a new label, but at the time Lennon stated that Geffen was the only one with enough confidence in him to agree to a deal without hearing the record first. Yoko Ono, Lennon's wife and partner, stated that Geffen was the only label head to pay attention to her. In December 1980, Lennon was murdered and Double Fantasy became a massive seller. Over the years Geffen Records/DGC has releasing recordings by the likes of Olivia Newton-John, Asia, Siouxsie and the Banshees, Elton John, Cher, Sonic Youth, Aerosmith, Whitesnake, XTC, Peter Gabriel, Lone Justice, Blink-182, Guns N' Roses, Nirvana, Lifehouse, Tyketto, Pat Metheny, Sloan, the Stone Roses and Neil Young.
The label was distributed by Warner Bros. Records since its inception but, in 1990, the label was sold to MCA Records with Geffen receiving shares in MCA worth $550 million. A year later, Matsushita Electric acquired MCA and paid Geffen $670 million. Geffen continued to run the label before leaving Geffen Records in 1995. The Geffen label is today is part of the Interscope-Geffen-A&M division of MCA's successor, Universal Music Group, formed as the result of the 1999 merger between the MCA and PolyGram families of labels.
Geffen Film/DreamWorks SKG
Through the Geffen Film Company, Geffen produced dark-tinged comedies such as the remake of Little Shop of Horrors (1986), Risky Business (1983) and Beetlejuice (1988). Geffen was the Broadway backer for the musicals Dreamgirls and Cats. In 1994, Geffen co-founded the DreamWorks SKG studio with Steven Spielberg and Jeffrey Katzenberg. In 2008, Geffen left DreamWorks.
Until 2017 Geffen owned a Malibu compound on Carbon Beach. In 1983 Geffen received permits from the California Coastal Commission to build a Cape Cod-style compound over multiple beachfront lots in exchange for creating a public pathway to the beach. He failed to build that pathway and in 2002 filed a lawsuit to block public access altogether. After a protracted three-year legal battle, Geffen reached a settlement with the Coastal Commission, granting the public a nine-foot-wide easement to the beach and reimbursing the state and non-profit groups $300,000 in legal fees. The pathway was opened on May 30, 2005 to national and international media coverage. The controversy has been called the "most famous Malibu battle" for beach access. The Coastal Commission later contacted the state transportation department without receiving a response to ask if the curb cuts that prevented public parking were valid, amid rumors that Geffen had installed four fake garage doors.
According to Forbes ("The 400 Richest Americans of 2004") and other sources, Geffen has pledged to give whatever money he makes from now on to charity, although he has not specified which charities or the manner of his giving. In 2002, he announced a $200 million unrestricted endowment for the School of Medicine at UCLA. The School thereafter was named David Geffen School of Medicine at UCLA. Along with Kenneth Langone's gift to New York University School of Medicine, Geffen's donation is the largest donation ever made to a medical school in the United States. On December 13, 2012, UCLA announced that Geffen had donated another $100 million in addition to his 2002 donation of $200 million, making him the largest individual benefactor for the UC system. The latest donation funds the full cost of attendance for up to 30 students per year, beginning with the Class of 2017.
In 2015, Geffen pledged $100 million toward renovation of what was then called Avery Fisher Hall, part of Lincoln Center for the Performing Arts in New York. His gift, which amounted to about 20% of the hall's renovation costs, gave him naming rights in perpetuity over the building, now known as David Geffen Hall.
He was an early financial supporter of President Bill Clinton. In 2001, he had a quarrel with the former president over Clinton's decision not to pardon Leonard Peltier, on whose behalf he had lobbied the President.
Geffen was an early supporter of Barack Obama for president and raised $1.3 million for Obama in a star-studded Beverly Hills fundraiser. On February 21, 2007, in an interview with Maureen Dowd of The New York Times, Geffen described Hillary Clinton and Bill Clinton in unflattering terms: "Everybody in politics lies, but they do it with such ease, it's troubling." He said that Hillary Clinton was "incredibly polarizing" and described Bill Clinton as "reckless" and cast doubt on those who say he has become a different person since leaving office.
Awards and honors
Geffen was named one of the 2010 recipients of Ahmet Ertegun Award from the Rock and Roll Hall of Fame. Geffen was awarded with the President's Merit Award for "indelible contributions to the music industry" from the National Academy of Recording Arts and Sciences at the 53rd Grammy Awards in February 2011.
Joni Mitchell and Geffen were close friends and, in the early 1970s, made a trip to Paris with Robbie Robertson and Robertson's wife, Dominique. As a result of that trip, Mitchell wrote "Free Man in Paris" about Geffen.
Geffen can be heard on Barbra Streisand's The Broadway Album, released in 1985. The track "Putting It Together" features Geffen, Sydney Pollack, and Ken Sylk portraying the voices of record company executives talking to Streisand.
Geffen is the subject of several books, most recently The Operator: David Geffen Builds, Buys, and Sells the New Hollywood (2001) by Tom King, who initially had Geffen's cooperation, but later did not. An earlier biography was The Rise and Rise of David Geffen (1997) by Stephen Singular. He is also a featured character in Mailroom: Hollywood History From The Bottom Up by David Rensen, in Mansion On The Hill by Fred Goodman, in Hotel California by Barney Hoskyns, and in several books about Michael Ovitz.
His older brother Mitchell (born Mischa) Geffen (1933–2006) was an attorney who attended UCLA Law School and later settled in Encino, California. Mitchell Geffen fathered two daughters, who are David's closest surviving relatives.
Geffen is a keen collector of American artists' work, including Jackson Pollock, Mark Rothko and Willem de Kooning. According to the chief curator at the Museum of Contemporary Art in Los Angeles, Paul Schimmel: "There's no collection that has a better representation of post-war American art than David Geffen's."
In October 2006, Geffen sold two paintings by Jasper Johns and a De Kooning from his collection for a combined sum of $143.5 million. On November 3, 2006, The New York Times reported that Geffen had sold Pollock's 1948 painting No. 5, 1948 from his collection for $140 million (£73.35 million) to Mexican financier David Martinez. Martinez is the founder of London-based Fintech Advisory Ltd, a financial house that specializes in buying Third World debt. The sale made No. 5, 1948 the most expensive painting ever sold (outstripping the $134 million paid in October 2006 for Gustav Klimt's portrait Portrait of Adele Bloch-Bauer I, purchased by cosmetics heir Ronald Lauder).
Wealth-X reported in June 2013 that Geffen owns the most valuable private art collection in the world, and estimated its worth at $1.1B at the time.
In February 2016, Bloomberg News reported that Geffen had sold De Kooning's 1955 oil painting, Interchanged, for $300 million, and Pollock's 1948 painting, Number 17A, for $200 million, both to hedge fund billionaire Ken Griffin.
In 2007, Geffen bought a half-share in friend Larry Ellison's luxury yacht Rising Sun, then at 138 meters (453 ft) the sixth largest motor yacht in the world. After Ellison ordered a new and more compact 91 metres (299 ft) yacht, he sold his remaining half share in Rising Sun to Geffen in 2010.
In 2009, Russian billionaire Roman Abramovich agreed to a divorce settlement with his wife Irina that resulted in her taking ownership of the 115-meter (377 ft) yacht Pelorus. Approached on Geffen's behalf by broker Merle Wood, Geffen bought Pelorus in 2011 for $300 million. In 2011 Geffen sold Pelorus to Sheikh Abdullah bin Zayed bin Sultan Al Nahyan for 214 million euros.
- Tom King, The Operator: David Geffen Builds, Buys, and Sells the New Hollywood, p. 12, Broadway Books (New York 2001).
- "Warner Music Group".
- "David Geffen Biography (1943-)". Filmreference.com. Retrieved June 29, 2014.
- Internet Movie Database, bio, "David Geffen", at .
- Pfefferman, Naomi (July 23, 2012). "David Geffen: prickly and terse about his Judaism". The Jewish Journal of Greater Los Angeles. Retrieved July 30, 2012.
- Weinraub, Bernard (May 2, 1993). "David Geffen, Still Hungry". Retrieved June 4, 2014.
- About: Inventing David Geffen PBS, 2012-11-07.
- Trott, Dave (2015). One + One = Three (First ed.). London, England: Macmillan. p. 10. ISBN 978-1-4472-8703-2. Retrieved March 13, 2017.
- "Sex, drugs and the billion-dollar rise of David Geffen". The Independent. November 18, 2005. Retrieved February 14, 2020.
- Weiner, Tim (December 14, 2006). "Ahmet Ertegun, Founder of Atlantic Records, Dies". The New York Times. ISSN 0362-4331. Retrieved February 14, 2020.
- Tom King, The Operator: David Geffen Builds, Buys, and Sells the New Hollywood, pp. 261-262, Broadway Books (New York 2001).
- Tom King, The Operator: David Geffen Builds, Buys, and Sells the New Hollywood, p. 282, Broadway Books (New York 2001).
- Tom King, The Operator: David Geffen Builds, Buys, and Sells the New Hollywood, p. 294, Broadway Books (New York 2001).
- Tom King, The Operator: David Geffen Builds, Buys, and Sells the New Hollywood, pp. 296-297, Broadway Books (New York 2001).
- Degen Pener (May 18, 2012). "How Donna Summer and Barbra Streisand's Famous Duet 'Enough Is Enough' Came Together". The Hollywood Reporter.
- "How New Order invented the 1980s - BBC Music". www.bbc.co.uk. September 11, 2015. Retrieved February 14, 2020.
- "David Geffen". Daily Variety (61st anniversary ed.). January 12, 1995. p. 16.
- "David Geffen Biography | The Rock and Roll Hall of Fame and Museum". Rockhall.com. Retrieved June 29, 2014.
- Geoff Boucher (December 8, 1999). "The Seagram Acquisition, a Year Later". Los Angeles Times.
- Michael Cieply, "David Geffen, Savior of Dream Works, Makes a Sudden Exit," Oct. 27, 2008, The New York Times.
- David, Mark (May 3, 2017). "David Geffen Sells Oceanfront Malibu Compound for Record Price". Variety. Retrieved March 6, 2018.
- WEISS, KENNETH R. (July 12, 2002). "Not All Quiet on the Beachfront". Los Angeles Times. ISSN 0458-3035. Retrieved March 6, 2018.
- ROUG, GINA PICCALO AND LOUISE (July 9, 2002). "The Pathos and the Pain". Los Angeles Times. ISSN 0458-3035. Retrieved March 6, 2018.
- Weiss, Kenneth R. (April 16, 2005). "Geffen to Reimburse $300,000". Los Angeles Times. ISSN 0458-3035. Retrieved March 6, 2018.
- Harris, Paul (April 17, 2005). "Hollywood boss loses fight to keep a beach to himself". the Guardian. Retrieved March 6, 2018.
- Navarro, Mireya (June 5, 2005). "In Malibu, the Water's Fine (So Don't Come In!)". The New York Times. ISSN 0362-4331. Retrieved March 6, 2018.
- "Beach access next to Geffen's home opened". Malibu Times. Retrieved March 6, 2018.
- "Beach Closed, Keep Out: Billionaire Tries to Block Surfers". NBC News. Retrieved March 6, 2018.
- Abcarian, Robin. "Long overdue: Malibu elitists who impede public access now face fines". latimes.com. Retrieved March 6, 2018.
- Groves, By Martha. "Malibu beach guide helps sort out parking, access, all in an app". latimes.com. Retrieved March 6, 2018.
- "Geffen Playhouse Raises More Than $1.3 Million At Annual Backstage Fundraiser".
- "Playhouse Donation".
- "N.Y.U. Medical Center Gets Another $100 Million Gift".
- "David Geffen Gift to School of Medicine / UCLA Spotlight". Spotlight.ucla.edu. Archived from the original on March 16, 2011. Retrieved March 23, 2011.
- Kingkade, Tyler (December 14, 2012). "David Geffen Donates $100 Million For Scholarships To UCLA Medical School" – via Huff Post.
- Wise, Brian (March 4, 2015). "Avery Fisher Hall to Be Renamed David Geffen Hall". WQXR. Retrieved March 4, 2015.
- "Faces of the week". BBC News. February 23, 2007. Retrieved May 1, 2010.
- "Obama finds friends, money in Hollywood". Reuters. February 22, 2007. Retrieved February 14, 2020.
- "What Geffen Said About Hillary". Newsmax.com. February 22, 2007. Retrieved March 23, 2011.
- "Proposition 8 contributions". The San Francisco Chronicle. Archived from the original on December 7, 2008.
- "Proposition 8: Who gave in the gay marriage battle?(Dreamworks Skg)". The Los Angeles Times. Retrieved July 3, 2012.
- "Proposition 8: Who gave in the gay marriage battle? (Dreamworks Studios)". The Los Angeles Times. Retrieved July 3, 2012.
- "Six More Billionaires Donate To The Anti-Trump Lincoln Project". July 15, 2020.
- "Congratulations to the 2010 Rock and Roll Hall of Fame Inductees!". Archived from the original on December 23, 2009. Retrieved December 15, 2009.
- "53rd GRAMMY Awards Season Hits High Notes". Retrieved May 7, 2011.
- "The Most Powerful Gay Men and Women in America". Out Magazine. May 2007. Retrieved January 15, 2009.
- "News Archive - Your link to SouthCoast Massachusetts and beyond". SouthCoastToday.com. Archived from the original on October 1, 2004. Retrieved March 23, 2011.
- Tom King, The Operator: David Geffen Builds, Buys, and Sells the New Hollywood, p. 192, Broadway Books (New York 2001).
- "Album of the Month for BarbraNews.com by Steven Housman". Barbranews.com. Retrieved March 23, 2011.
- See generally Tom King, The Operator: David Geffen Builds, Buys, and Sells the New Hollywood, p. 31, Broadway Books (New York 2001).
- Vogel, Carol (October 12, 2006). "Works by Johns and de Kooning Sell for $143.5 Million". The New York Times. ISSN 0362-4331. Retrieved February 14, 2020.
- Vogel, Carol (November 2, 2006). "A Pollock Is Sold, Possibly for a Record Price". The New York Times. ISSN 0362-4331. Retrieved February 14, 2020.
- Correspondent, Nigel Reynolds, Arts (November 3, 2006). "Pollock world's most expensive painting". ISSN 0307-1235. Retrieved February 14, 2020.
- "Private Wealth: Geffen's Art Collection Tops In Value". June 29, 2013.
- "Billionaire drops $500M for 2 masterpieces," Feb. 19, 2016, Bloomberg News, as republished by Fox News, at .
- Hoffower, Hillary. "Jeff Bezos partied on billionaire David Geffen's $590 million superyacht in the Balearics — here's a look at the yacht, which has hosted everyone from Oprah Winfrey to Barack Obama". Business Insider. Retrieved February 14, 2020.
- "David Geffen Takes Possession Of "Rising Sun", World's Sixth Largest Yacht". boatworktimes.com. October 25, 2010. Archived from the original on December 6, 2011. Retrieved October 2, 2011.
- David Pelly. "Iconic yachts: Pelorus". boatinternational.com. Retrieved December 25, 2012.
- Jared Paul Stern (July 14, 2011). "David Geffen's New $300 Million Yacht Gets Upstaged By A Russian Businessman's Boat In Mallorca". businessinsider.com. Archived from the original on January 7, 2012. Retrieved October 2, 2011.
- "Superyacht Coral Island". Superyachtfan.com.
- Liz Flynn. "A Closer Look at David Geffen's Yacht Rising Sun". Money Inc. Retrieved March 28, 2020.
45 crew members
- Yachtfan, Peter. "David Geffen | Net Worth $ 9 billion | Rising Sun Yacht | Lurssen". SuperYachtFan. Retrieved April 17, 2020.
- Luscombe, Richard (March 28, 2020). "Billionaire David Geffen criticized for tone-deaf self-isolation post". Retrieved April 17, 2020 – via www.theguardian.com.
- "David Geffen Assures Us He's Isolating on His $590 Million Yacht". TMZ. Retrieved April 17, 2020.
- Brown, Abram. "Long Live David Geffen, Yachtmaster And New King Of Tone-Deaf Instagram Posts". Forbes. Retrieved April 17, 2020.
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