David Geffen, Philanthropist

David Geffen, Philanthropist

David Geffen has had a storybook career.  With his wit, energy and drive he has built businesses and amassed enormous wealth while touching us with great entertainment, music and movies.  He started his rise to the top in the mail room. Today, at age 72, his net-worth is reported to be over $5 billion. 

With great wealth comes great responsibility and David recognizes that. Already, he has contributed hundreds of millions of dollars including $300 million to UCLA Medical School and $100 million to the NY Philharmonic Orchestra and his donations are just starting.  Arranging to give away huge wealth is not simple or easy especially when the amounts are so large that they can, by themselves, make mammoth changes and provide countless lasting benefits.

Geffen’s views differ from Warren Buffett’s in some respects and agree in others.  Like Buffett, he wants to give his money away while he is able to see its results. Unlike Buffett, he does believe in visibility, feeling it will set an example to others or for those he could serve as inspiration for.

It is clear that Geffen is spending a lot of time trying to develop a cohesive plan of how his great wealth will be used and the good it can confer.

David, good luck with your efforts and God Bless You!

Some people are fortunate enough to accumulate huge wealth, more so than could ever be expected to be passed on to their future generations. This wealth, while enviable, carries with it an overbearing responsibility to try to create as much benefit as possible.  This blog and the two previous ones discussed how David Geffen, John D. Rockefeller and Warren Buffett handled – or are trying to handle – charitable giving illustrate the issues.  You don’t have to be as wealthy as them. The point is that the process should start and the arrangements should be put in place in the event that untimely circumstances thwart the realization of any thoughts, dreams, ideas or manifestation by you of your Thanksgiving.