50 Wealthiest: David Geffen #4

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50 Wealthiest: David Geffen #4
Wealthiest Angelenos: David Geffen

NET WORTH: $4.8 billion +7%

LAST YEAR: $4.5 billion

AGE: 69

RESIDENCE: Malibu

SOURCE OF WEALTH: Music, movie production

THE MONEY: The richest man in Hollywood is presumed to have gained from large bond and real estate holdings, despite loss in value of DreamWorks Animation shares. Notable modern art collection featuring luminaries such as Jackson Pollock also benefited from rising worldwide art market.

BUZZ: Retired mogul isn’t out of the game entirely. Invested in Sony Corp.’s $2.2 billion bid to buy EMI’s music publishing library, which includes tracks from Stevie Wonder and Jay-Z. Acquisition, pending approval, is Geffen’s first big public entertainment deal since co-founding DreamWorks SKG studio in 1994.

Was known as one of President Obama’s most active Hollywood bundlers four years ago but is noticeably less active on fundraising circuit this time around. Has private plane that DreamWorks Animation paid about $1 million to use last year for corporate travel.

Owner of two of the world’s largest private vessels, including the 453-foot Rising Sun. Got started sorting mail at William Morris Agency after dropping out of University of Texas. Founded Geffen Records in 1980 and sold to MCA for estimated $750 million.

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