Widely regarded as the wealthiest man in the American entertainment industry, the ‘Boy from ‘Brooklyn’ turned millionaire by the time he was 25. After dropping out of the University of Texas, Geffen took a job at the William Morris Talent Agency and soon became a music agent. He cofounded Asylum Records in 1970 where he cultivated his knack for spotting new talent and emerging trends in the entertainment industry.
Asylum became one of the most sensational success stories in the music business. It signed the likes of Linda Ronstadt, Joni Mitchell, Carly Simon and Tom Waits. Even Bob Dylan released two of his albums on Asylum. When Geffen sold Asylum Records to Warner Bros. in 1975 for $7 million, it was one of the largest music deals at that time. After an absence of almost four years that was actuated by a mistaken diagnosis of cancer, Geffen returned to his beloved music industry with a bang and founded Geffen Records in 1980. After the conclusion of a six-year contract, he sold his recording label to the Music Corporation of America for $6.13 million plus $50 million in stock options. Geffen, who is single and openly gay, is also a noted art collector.
He owns one of the finest collections of postwar American art in the world that include valuable pieces by Jackson Pollock and Willem de Kooning. Of late, Geffen has enhanced his reputation as a prominent philanthropist. In 2002, the School of Medicine at the UCLA became the David Geffen School of Medicine after he donated $200 million; the largest gift in the history of the university.
Beverly Hills mansion
Luxurious and elegant
Beverly Hills mansion
David Geffen has recently bought NYC Pentahouse for $54 million. David Geffen, an ambitious, energetic music and movie executive worth $5.6 billion who established a vast Hollywood-based empire, featuring Geffen records and Dreamworks, purchased this 12,000-square foot Central Park penthouse on 785 Fifth Avenue for $54 million, the highest price ever paid for a co-op in NYC.
Features: Overlooking the Central Park, David Geffen’s new penthouse which occupies the top 2 floors of Fifth Avenues white-glove Parc Cinq Cooperative, and complete complete with 11ft ceilings, custom mahogany doors, currently boasts 7 bedrooms, 11 bathrooms, three kitchens, a wood paneled library with wet bar and staff quarters.
* The master bedroom suite comes equipped with a movie projector, a fireplace, and his-hers bathroom suites.
* The duplex also features some luxurious amenities including a recording studio, an exercise room with sauna, hair saloon, and a private roof-top garden.
* The plush apartment offering sweeping views of the NYC, also features a spacious dining room which can sear 22, and leads to one of three terraces.
The living hall
The recording room
Single floor library
The dining area
Grand piano in living hall
Rising Sun yacht
At a stunning 138.4m (453 feet), the Rising Sun is the sixth largest yacht in the world which Geffen purchased last year from Larry Ellison. The mega-yacht was built by Lurssen Yards in 2004, makers of other super-yachts like Pelorus, which incidentally is also owned by David Geffen. Originally co-owned by Geffen and Larry Ellison, the yacht reportedly cost around $250 million to built.
Features: The opulent interiors have been designed by Seccombe Design. The luxury yacht offers multiple recreational facilities to its owner and guests which include a , a spa, sauna, gymnasium, wine cellar, private cinema and a basketball court that doubles into a helipad. Furthermore, the yacht has all other extravagancies like a top-deck swimming pool and sumptuous guest suites, which are a natural consequence of being an ultra-luxurious mega-yacht. In case passengers need to take an emergency exit from the vessel, it has space for a submarine.
Accommodations: With a total of 8000 sq ft of available space, the yacht provides room for stretching and lounging around. There are 82 luxurious rooms on 5 stories, which can easily accommodate 45 crew members and up to 16 guests. It has also been noted that this vessel takes an average of $13 million a year, just to maintain and keep it in perfect shape.
Specs: The engine aboard the yacht is comprised of 4 MTU 20V 8000 M90 engines which generate 50,000 HP of output, and takes the boat up to 28 knots of speed.
Geffen purchased this 115m (377 ft) motor yacht from Russian billionaire’s ex-wife Irina Abramovich for $300 million making him the exclusive owner of two of the top 20 largest yachts in the world. Custom built by Lurssen Yards in 2003, this yacht was handed over to Irina Abramovich in 2009 as part of her divorce settlement. The other mega-yacht that Geffen owns is The Rising Sun, which he bought from another billionaire Mr. Larry Ellison.
Features: Like its Greek name which translates into ‘vast’, this yacht stands as one of most expensive cruise ships. With luxurious amenities like a spa pool, a swimming pool, two helicopter pads and a spacious owner’s suite with a private deck and 180-degree view, it's a floating paradise. It’s previous owner Roman Abramovich had installed additional helipads, new zero speed stabilizers, extra wave runners and jet skies on to the yacht. A crew of 48, continuously looks after the yacht and ensures smooth sailing for its owner and guests.
Accommodations: It’s known to be loaded with features including jet skies, wave runners, helipads, swimming pools, conference rooms and suites which can comfortably house 18 guests and 48 permanent members of staff.
Specs: The yacht is powered by 2 Wartsila engines generating 5500 HP of power, making it cruise at 20 knots but is best suited for a cruise speed of 16 knots over a distance of 6000 nautical miles.
Lurssen Yards's product
Shining like a star
Collecting American art work
Hollywood mogul David Geffen, is an avid collector of American artists’ work. It’s been said that there’s no collection that has better representation of post-war American art than David Geffen’s. Geffen, an insightful buyer and seller of art reportedly sold 4 paintings for whopping $420 million. David’s coveted masterpiece “Number 5” was sold for $134 million, and is the most expensive painting ever sold. He even sold Jasper John’s “False Start” for $80 million to Citadel’s Kenneth Griffin.
American Foundation for Equal Rights
David Geffen Foundation
Willem de Kooning
David Geffen is amongst few who invest boldly in art. With the Art collection worth $1 billion he has been proved to be a judicious buyer and seller of art. Geffen owns quite a few magnum opus by the best artists of the second half of the 20th century. Few years ago he sold two of his expensive paintings ackson Pollock's "Number 5" and Willem de Kooning's "Woman III") for $277 million. These paintings are still two most expensive painting sold ever.