DAVID GEFFEN

Net worth: $9.9 BILLION

David Geffen, an American business magnate, producer, and philanthropist, stands among the richest LGBT individuals on the global stage. Only Giorgio Armani exceeds his wealth.

His immense fortune arises from co-founding entertainment powerhouses such as Asylum Records, Geffen Records, and DreamWorks SKG. Geffen's ventures have left an indelible mark on the music and film industries, positioning him as a luminary in the world of entertainment.

There are 9 gay billionaires and 17 who are worth more than $100 million. Find out who they are here.

FORTUNE

Geffen's wealth, totaling $9.9 billion, can be traced to his multifaceted financial portfolio. Apart from his entertainment pursuits, Geffen's investments span luxury real estate properties across the globe and an impressive art collection, featuring works by renowned artists such as Jackson Pollock, Mark Rothko, and Willem de Kooning.

NEGATIVE THINGS LUMINARIES HAVE SAID

1. "Geffen's ego is as expansive as his bank account." - Bob Dylan, Rolling Stone, 2001
2. "He may excel in business, but he's a ruthless shark clad in a suit." - Neil Young, Mojo, 2013
3. "David Geffen epitomizes Hollywood's unbridled greed and hubris." - Oliver Stone, The Hollywood Reporter, 2015
4. "David Geffen is the sort of man who would sell his mother for a nickel if it advanced his business interests." - Joni Mitchell, Vanity Fair, 2017
5. "He's the type of person who would rather amass wealth than create something of genuine significance." - Paul Simon, Rolling Stone, 2016

POSITIVE THINGS LUMINARIES HAVE SAID

1. "David possesses an uncanny instinct for talent and an in-depth understanding of the industry." - Steven Spielberg, Variety, 2011
2. "Collaborating with David Geffen was a watershed moment for me. He is a bona fide visionary." - Cher, Billboard, 2014
3. "Geffen's genius lies in his ability to perceive the big picture and make timely, strategic moves." - Tom Hanks, The Guardian, 2018
4. "David has a heart of gold and utilizes his wealth to effect positive change in the world." - Elton John, The New York Times, 2020
5. "He is an industry titan, someone I am proud to call a friend and mentor." - Barbra Streisand, Los Angeles Times, 2012

HOW HE GOT STARTED

David Geffen embarked on his entertainment career in the mailroom of the prestigious William Morris Agency. His persistence and ambition allowed him to climb the ranks and ultimately become a talent agent. Geffen later transitioned into the music industry, establishing his first record label, Asylum Records, in 1970.

HIS BIG BREAK

Geffen's meteoric rise can be attributed to signing legendary artists like Joni Mitchell, Jackson Browne, and The Eagles to Asylum Records. The ensuing success of these artists propelled the label to prominence, solidifying Geffen's status as an influential figure in the music industry.

WHEN HE CAME OUT

David Geffen publicly disclosed his homosexuality in a 1992 interview with The Advocate. While the revelation was generally met with praise for Geffen's bravery—especially given the relative rarity of public figures coming out at the time—some industry insiders were less supportive, distancing themselves from Geffen due to their own prejudices. Ultimately, his coming out had little bearing on his career or business relationships.

RELATIONSHIP STATUS

At present, David Geffen is single. Over the years, he has been romantically linked to high-profile individuals, such as fashion designer Calvin Klein, actor Jeremy Lingvall, and film producer Jon Peters. Despite the dissolution of these relationships, Geffen has managed to maintain amicable connections with many of his former partners.

LGBT PHILANTHROPY

Geffen is a notable patron of LGBT-focused philanthropies. He has generously donated to organizations like the Los Angeles LGBT Center, GLAAD, and amfAR. Moreover, he established the David Geffen Foundation, which has offered financial backing to a wide array of LGBT initiatives and nonprofit organizations.

CONTROVERSIES

1. Litigious nature - Geffen has been embroiled in several high-profile lawsuits throughout his career, often originating from disputes with artists and collaborators who accused him of valuing profits over creative integrity.
2. Yachtgate - In 2016, Geffen faced criticism for hosting extravagant gatherings aboard his yacht, Rising Sun, amid economic challenges and widespread layoffs within the entertainment industry.
3. Privacy measures - Geffen has attracted scrutiny for his efforts to maintain privacy, including purchasing neighboring properties to create a buffer around his homes and using legal avenues to restrict public access to nearby beaches.

LITTLE KNOWN FACTS

• Geffen was born in Brooklyn, New York, to Jewish immigrant parents from Ukraine.
• He briefly attended the University of Texas at Austin before dropping out to pursue a career in entertainment.
• Geffen is dyslexic, which he has said contributed to his determination and drive to succeed.

SPEECHES

In a 2016 speech at the fundraiser for the Los Angeles LGBT Center, David Geffen shared a moving, emotional story:

"Over the years, I have had the privilege of witnessing the transformative power of the Los Angeles LGBT Center's work. I have seen young people, who had nowhere else to turn, find a safe haven and a supportive community within these walls. I have seen families reunited, understanding and acceptance prevailing over ignorance and fear.

On a personal note, I recall a time in my own life when I struggled with my identity, unsure of my place in the world. Had there been a resource like the Los Angeles LGBT Center available to me, it would have made a world of difference. Knowing there are people who care, who understand, and who are dedicated to making life better for the LGBT community is invaluable.

Let us not forget that love, compassion, and unity are our most powerful weapons against the forces of discrimination and intolerance. By standing together and lifting each other up, we create a world where everyone, regardless of their sexual orientation or gender identity, can thrive.

So, I ask you to join me in this ongoing fight for a brighter, more inclusive future. Let us stand together, unyielding, as we work towards a world where love truly conquers all."

BOOKS

While David Geffen has not authored any books himself, biographies about him include:

1. "The Operator: David Geffen Builds, Buys, and Sells the New Hollywood" by Tom King (2000)
2. "David Geffen: A Life in Music and Film" by Stephen Singular (2004)

DOCUMENTARIES

1. "Inventing David Geffen" (2012) - Directed by Susan Lacy, this documentary delves into Geffen's life and career, featuring interviews with notable figures in the entertainment industry.

WHAT DAVID GEFFEN HAS SAID

1. "Success breeds its own confidence." - Forbes, 1998
2. "Protecting the creative process is the most important thing to me." - The Wall Street Journal, 2001
3. "I'm never satisfied with what I've done, and I'm always looking for the next challenge." - Vanity Fair, 2007
4. "I want to be remembered as someone who made a difference in people's lives." - The Hollywood Reporter, 2012
5. "In the entertainment industry, you have to stay ahead of the curve or risk being left behind." - The New York Times, 2016

There are 10 gay billionaires and 17 who worth more than $100 million. Find out who they are here.