so how did he get so rich:

David Geffen built his wealth through a combination of his work in the music industry, film production, and savvy investments:

1. Music Industry Success: Geffen’s initial wealth was largely due to his success in the music industry. He co-founded Asylum Records in 1970, which quickly became a major label in the industry, signing a number of successful artists. In 1980, he founded Geffen Records, which signed and produced music for a variety of influential artists. The success of these labels not only came from album sales and concert revenues but also from lucrative deals made with other larger labels.
2. Film and Broadway Production: Geffen expanded his portfolio by producing Broadway shows and films. His involvement in the production of hit Broadway shows and successful movies added significantly to his wealth.
3. DreamWorks SKG: Geffen co-founded DreamWorks SKG with Steven Spielberg and Jeffrey Katzenberg in 1994, a multimedia entertainment company that produced films, music, and video games. The success of DreamWorks SKG contributed substantially to his wealth.
4. Real Estate Investments: Geffen made substantial investments in real estate. He owned several high-value properties in prime locations like Beverly Hills and New York City, which appreciated over time and contributed to his net worth.
5. Investments in Other Companies: Geffen also made smart investments in various other companies, including those in the technology sector.
6. Art Collection: He is known to have an extensive art collection, which is another form of investment contributing to his overall wealth.

Geffen’s ability to identify and nurture talent, coupled with his strategic investments and business ventures across different sectors, played a key role in his financial success oai_citation:1,David Geffen is Hollywood’s richest man. Here’s how he spends his $8.5 billion fortune, from real estate in the Hamptons and California to his 453-foot superyacht that’s hosted Jeff Bezos and the Obamas | BusinessInsider India oai_citation:2,Billionaires Ken Griffin and David Geffen Give $400 Million to Fight Cancer – BNN Bloomberg oai_citation:3,David Geffen Net Worth – Income, Age, Wiki, Career, Bio oai_citation:4,Billionaire David Geffen Takes $6M for Beverly Hills Modern | American Luxury.

Famous artists

David Geffen, through his record labels Asylum Records and Geffen Records, played a pivotal role in the careers of many famous artists. Some of these artists include:

1. Asylum Records: This label was co-founded by Geffen in 1970 and became known for its roster of singer-songwriters and rock artists. Notable artists under Asylum Records included Jackson Browne, The Eagles, Joni Mitchell, and Bob Dylan.
2. Geffen Records: Founded in 1980, Geffen Records further established Geffen’s influence in the music industry. The label was home to a diverse range of artists, including Donna Summer, John Lennon, Elton John, Nirvana, Aerosmith, Guns N’ Roses, and Blink-182.

David Geffen’s keen eye for talent and his commitment to supporting his artists’ creative freedom contributed significantly to the success of these musicians and the music industry as a whole. His labels were instrumental in bringing a wide variety of influential music to the public.

Net worth:

David Geffen, an American business magnate, has an estimated net worth of around $8.7 billion to over $10 billion as of 2023-2024. His wealth primarily stems from his successful ventures in the entertainment and media industries.

Geffen made a significant portion of his fortune through the music industry. He founded Asylum Records, Geffen Records, and DGC Records, which became major players in the music world, helping to launch and nurture the careers of numerous artists. Additionally, his role as a co-founder of DreamWorks SKG further solidified his status in the entertainment sector.

Geffen’s business acumen extended to savvy investments and real estate. He made strategic investments in various companies, including some in the tech sector like Apple, Microsoft, and Yahoo. His real estate portfolio includes valuable properties in Beverly Hills and New York, adding to his substantial net worth.

Geffen’s ability to identify talent, along with his investments and entrepreneurial ventures, has played a crucial role in amassing his significant wealth oai_citation:1,David Geffen is Hollywood’s richest man. Here’s how he spends his $8.5 billion fortune, from real estate in the Hamptons and California to his 453-foot superyacht that’s hosted Jeff Bezos and the Obamas | BusinessInsider India oai_citation:2,Billionaires Ken Griffin and David Geffen Give $400 Million to Fight Cancer – BNN Bloomberg oai_citation:3,David Geffen Net Worth – Income, Age, Wiki, Career, Bio oai_citation:4,Billionaire David Geffen Takes $6M for Beverly Hills Modern | American Luxury.

David Geffen, a prominent figure in the entertainment industry, is known for his insightful and often candid observations. Here are a few of his notable quotes:

1. Geffen highlights the power of imagination in shaping one’s life: “I’ve always thought that each person invented himself… that we are each a figment of our own imagination. And some people have a greater ability to imagine than others.”
2. He speaks to the illusory nature of wealth and happiness: “Anybody who thinks money will make you happy, hasn’t got money.”
3. On recognizing talent in others: “I have no talent except for being able to enjoy and recognize it in others.”
4. Geffen’s perspective on the cutthroat nature of Los Angeles: “In Los Angeles, they don’t want you to fail, they want you to die.”
5. He comments on the challenges faced by entrepreneurs today: “The opportunity for an entrepreneur to start a company from scratch today is abysmal.”

These quotes reflect Geffen’s understanding of the entertainment industry and the human condition, offering a glimpse into his philosophy and approach to life and business oai_citation:1,TOP 25 QUOTES BY DAVID GEFFEN | A-Z Quotes.