14 April, 2021

Angie... Angie... You can't say "antidisestablishmentist onomatopoeia." But it's ok, you're blonde.

Dunno what I have to talk about today.  I'm looking up David Geffen on Wikipedia and that just doesn't look right.  He was born in middle-class NYC, barely went to college, there or in Hollywood.  He made a brief attempt to be an actor, bring a minor character in one movie, then started working in the mailroom for a talent agency.

He then started a management company which had some success, notably with CS&N.  Then Asylum, a record label for a few acts that did have hits.  This is why I looked it up, I was under the impression that Asylum's one successful album by Bob Dylan - who was arguing with CBS at the time - but apparently they were involved in the Eagles and a few less-successful acts that still sold records.  Then he left that and worked for Warner Bros. in movies.  Then he quit and started another record company whose first hit was John Lennon's final album, which only became a hit after he died, but...  There were also Aerosmith, G'n'R and a few others.

There was also a Geffen movie studio which did have some hits as well.  He quit that and started DreamWorks with Steven Spielberg and Jeffrey Katzenberg.  They definitely had some hit movies - although looking them up, it's possible that I saw part of Eurotrip at some point, it sounds vaguely familiar, but otherwise I haven't seen a single DreamWorks movie ever - but even there, they were usually co-produced by other major studios who also handled distribution.

So ok, assuming Geffen is good at finances, it's believable he'd made a decent amount of money in his career, but $10 billion?  Where did that come from?

Asylum was bought by Atlantic Records and I don't see how much was paid for it.  Geffen got $555 million for the 1990 sale of Geffen Records to MCA and another $670 million when MCA was purchased in 1991 by Matsushita.  Paramount purchased DreamWorks in 2005 for $1.6 billion.  Even if every penny went into Geffen's pocket - 0 for Spielberg, 0 in federal, state or local taxes, 0 to employees or shareholders, 0 to buy and maintain mansions and boats and planes, 0 to the other businesses he was associated with - that's only a fraction of $10-freaking-billion.

You don't get mindbogglingly rich from running a management company, or a record company, or even a movie company.  I could believe getting rich from all of them at once but he left one to start the next, so unless he just kept stooges in place to follow his orders without him being legally responsible for them, I don't see how that would work.  The Wikipedia article has more about expensive things he's purchased and philanthropy.  It says a few things like selling a giant mansion to Jeff Bezos which probably was a profit but probably not that much more than he'd already spent on the place and was already a megabillionaire.

I have to wonder if he was part of a conspiracy, a movement that was only underground in the sense that they didn't openly plan to rule.  It would certainly explain a lot.

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